Progressives were understandably upset about Detroit's bankruptcy. It was muscled by right-wing Gov. Snyder and even the lesser cuts to pensioners are hurtful. There's the obvious ongoing damage to existing wages and benefits for city workers. But the cold reality is that these outcomes were inevitable given Detroit's catastrophic economic mess, and catastrophic political leadership.
This has all the makings of a bubble and when it bursts, it will hobble students' ability to borrow for college. Reforms are needed, but there is very little political will and talk of bubbles never penetrates those inside the bubble.
In reviewing reported cases over the last eight months that directly addressed student loans in the context of bankruptcy, almost one-third of these court decisions allowed a discharge. There are several lessons to learn from these recent decisions.
Living in and around New York City, it has been hard to miss the explosion of blue bicycles that have found themselves throughout the city streets.
Currently, more than 40 million Americans hold student debt. The population with student loans is approximately four times greater than the population of Sweden.
The Milwaukee Symphony Orchestra, according to its recent press release, is "in danger of running out of money and faces possible extinction if additi...
Images of the city play like a science fiction movie narrating the end of America's successful experiment with diversity in a robust urban life style. Detroit has gone from 'Motown' to 'Notown.'
Huffington Post Reader Question Dear Steve, I originally took out a myriad of loans to cobble together the finances necessary to supplement a "schol...
Looking back over eighteen years of the growth and development of InsideOut Literary Arts Project (iO), I realize that this hope has been with us all along.
Huffington Post Reader Question Dear Steve, I was divorced 6 years ago and did not received child support for 4 and 1/2 years and gave my ex $25,000...
That's the one good thing you can say about what's going on in Detroit: It will hopefully motivate the politicians, employees and unions everywhere else to face reality and not believe the Tooth Fairy will somehow deposit the cash under their pillows.
In the last century, when Detroit's big thinkers first planted the "art" seeds that eventually grew into a world-class institution, could they ever have imagined, in their wildest dreams, a scenario like the LA Times chronicles?
The US debt ceiling is a legislative limit on the US Treasury's ability to borrow money. It was first created in 1917 and can be modified by Congress. As of this month's agreement, the debt ceiling has been raised 79 times since 1960.
It turned out that we found a much bigger house, with more light, a beautiful backyard, in a great location -- for less money than we had been paying. The need to move, which initially had seemed like such terrible news, turned into a very positive thing for us.
Many many Americans have known and still do know people who have become fragile economically because they fell ill. People should not have to spend their last days worrying about health care costs. We are a civilized nation and now we are beginning to act like one.