Thursday, March 5, 2015
debt
Obama visits Lawrence, Kansas

Free Tuition At Community College Should Just Be The Start

Expanding access to education isn’t a socialist redistribution plot — it’s common sense.

January 27, 2015
Doug Elmendorf

Will The GOP Turn The CBO Into A Fantasy League?

Republican plans to cook the books bode poorly for future policy discussions.

December 23, 2014
California Flag

California Pension Funds Are Running Dry

A new report has reignited the pension debate in the Golden State.

November 14, 2014
Obama 10-19

Obama Administration Rules Target For-Profit Colleges

Find out how the Obama administration is protecting vulnerable students.

October 30, 2014
Argentina

Argentina Blames United States, ‘Incompetent’ Judge For Default

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 […]

July 31, 2014
social security

Social Security’s No-Bad-News Day

By Michael Hiltzik, Los Angeles Times The annual trustees reports for Social Security and Medicare customarily give rise to an outburst of disinformation from the enemies of social insurance programs — that comes with the territory when you’re putting out hundreds of pages densely packed with graphs, charts and statistics. There may be less of […]

July 31, 2014
Hundred Dollar Bills

Past-Due Debt Prevalent Across U.S., With South The Highest

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 […]

July 29, 2014
3-19-14bud-f1

5 Reasons The Deficit Has Fallen By Nearly $5 Trillion (And Why That’s A Bad Thing)

This year’s deficit will likely be $514 billion, down about a quarter from last year’s deficit of $680 billion, which was down by more than a third from the year before. “Since 2010, projected 10-year deficits over the 2015-2024 decade have shrunk by almost $5.0 trillion, $4.1 trillion of which is due to four pieces […]

March 19, 2014
ukraine aid

Ukraine Needs $35 Billion In Aid To Avert Default, Interim Leaders Say

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 […]

February 24, 2014

5 Examples Of How The GOP’s Deficit Obsession Is Complete B.S.

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 […]

February 5, 2014
Boehner RS

Republicans Finalize Hostage Demand, Public Prepares To Blame Them For Default

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 […]

February 4, 2014

Bachmann Hypocrisy Rampant On Home Loans

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 — […]

July 27, 2011

To Republicans’ Consternation, Chrysler Turns Profits

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 […]

July 22, 2011

China Worried About U.S. Default

As House Republicans continue to hold the United States hostage over raising the debt limit, China is using Standard & Poor’s and Moody’s (relatively empty) threats to downgrade the United States’ credit rating as a pretext to issue stern warnings on honoring our more than $1 trillion in debt to that country. China’s State Administration […]

July 20, 2011

Ratings Agency: We Might Downgrade U.S. Credit

Yesterday, the credit ratings agency Moody’s Investor Service warned that it will have to review the U.S. government’s AAA credit rating and possibly downgrade it, given fears that the U.S. will fail to raise the debt ceiling and default on its debt. Moody’s believes there is a “very small but rising risk of a short-lived […]

July 13, 2011

They Have It Worse: Greece Approves More “Brutal” Budget Cuts

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 […]

June 29, 2011

Newt Gingrich, Man of the People

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 […]

June 21, 2011