While fighting to keep Islamic State out of the country, the Iraqi government seeks to rebuild the country’s infrastructure, its quality of life, and relieve its $25 billion fiscal deficit.
By Sonia Avalos Buenos Aires (AFP) — Argentina blamed the United States Thursday for the legal battle that forced it into its second default in 13 years, accusing the judge and mediator in the case of “incompetence.” The country officially went into default Wednesday night after the failure of 11th-hour talks with two U.S. hedge […]
By Kevin G. Hall, McClatchy Washington Bureau WASHINGTON — Roughly one in three adult Americans has past-due debt that’s been turned over to a collections agency, according to a novel new study. Southern states fare worst in the study, with most having four in 10 residents with credit files that show debt in collection. The […]
But as much as Republicans say they care about the deficit, they are not willing to raise one dime in taxes to make a deal to cut it.
By Carol J. Williams, Los Angeles Times MOSCOW — Ukraine’s interim leaders said Monday that the country will need $35 billion in foreign aid over the next two years to avert default and called for an international donors’ conference to craft a rescue plan. The appeal by acting Finance Minister Yuri Kolobov followed by a […]
After years of ranting about the deficit, Republicans celebrated the news that it had been cut by almost two-thirds by completely ignoring it and finding some other disingenuous talking point to rant about. The reduction in America’s budget overruns comes largely from the ending of some of the Bush tax breaks for the rich and […]
House Republicans have narrowed their debt ceiling strategies to two demands, neither of which have anything to do with actually reducing America’s debt. In exchange for a one-year extension of the debt ceiling so the Treasury can pay debts Congress has already voted to take on, Republicans want the repeal of Obamacare’s risk corridors, according […]
Just weeks before she called for “breaking up” Fannie Mae and Freddie Mac “so that the encumbered taxpayer no longer backs them,” Minnesota Rep. Michele Bachmann received a $417,000 loan to purchase a 5200 square-foot golf-course home that experts say was definitely backed by one of the two lenders: Seeing problems with the programs — […]
Reuters reports that Chrysler’s sales have outpaced European carmaker — and Chrysler parent company — Fiat’s sales in recent months. According to the analysis, Chrysler June earnings ($155 million) were only slightly less than Fiat’s three month total (Fiat earned $175 million from April through June). These impressive numbers have enabled the once-troubled American company […]
Having already faced off intense–and violent–public opposition to immense austerity measures, Greeks got another taste today: Greece has approved an austerity bill that helps pull their debt-ridden country back from the brink of an immediate default. After days of public unrest and impassioned debate, the Greek parliament voted 155-138 on Wednesday in favor of the […]
Newt Gingrich’s imploding presidential campaign lost its top two fundraising officials yesterday as The Washington Post revealed that the Republican candidate and his wife had a $1 million line of credit at Tiffany & Co; this is in addition to the smaller ($250,000 to $500,000) line his wife reportedly held in 2005 and 2006. The […]