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Federal Debt

Understanding Taxable Forgiveness on Your Student Loans

Equal Justice Works | Posted 05.27.2016 | College
Equal Justice Works

Student loans can be a heavy burden on any borrower struggling to make monthly payments. Thankfully, the Department of Education offers some relief in...

Shahien Nasiripour

John Kasich Compares Federal Debt To A Burning Rome, Says Republicans Share Blame | Shahien Nasiripour | Posted 01.25.2015 | Politics

Ohio Gov. John Kasich on Sunday compared the growing federal debt to the so-called great fire of Rome, appearing to lament what he perceives as a lack...

Illinois' State Government Must Monitor Its Own Size

Matthew Dietrich | Posted 01.21.2015 | Chicago
Matthew Dietrich

Government is self-limiting -- only government can make itself smaller. Illinois is the state with the highest number of taxing bodies, so Nancy Mathieson of Truth in Accounting believes that Gov.-elect Bruce Rauner should take it upon himself to enact those self-limiting governmental powers.

Let's 'Bail-In' Now!...Why Wait?

Martin Shapiro | Posted 08.28.2014 | Politics
Martin Shapiro

Had we issued separate bond series for domestic and international consumption, then, maybe, we could default on the domestic issues and hold the foreigners harmless.

Hooray for Taxes

Richard (RJ) Eskow | Posted 01.23.2014 | Politics
Richard (RJ) Eskow

Washington's obsession with tax cuts and deficit reduction is distracting the American people from the slow dismantling of the social contract, and its devastating impact -- financial and otherwise -- on all but the wealthiest among us.

Sequesters, Shutdowns and Defaults

Stephen Zarlenga | Posted 01.23.2014 | Business
Stephen Zarlenga

Congress squabbles but the present system just can't relieve or solve the problem -- because the debt money system itself is the problem!

The Half-Forgotten Student Debt Crisis

David Coates | Posted 11.17.2013 | Politics
David Coates

Higher education costs are not soaring out of control. What is changing is the politically-charged matter of who should bear the cost -- the general taxpayer or the individual student. There is a policy choice tucked away here behind the overall numbers, and a rather ugly one at that.

Can Debt Ceiling Debates Be Useful? History Says Maybe.

Joseph J. Thorndike | Posted 10.28.2013 | Politics
Joseph J. Thorndike

Are threats to oppose a debt ceiling increase ever defensible? More specifically, can they ever be justified as a form of leverage--as a tool to force...

European Lessons for an America in Debt

David Coates | Posted 08.14.2013 | Politics
David Coates

Fortunately for those of us favoring a strengthening of our welfare net, the big problem with those Republican claims about Europe and its current crisis is that they are all entirely wrong.

Mark Gongloff

Austerity Alive And Well: U.S. Government To Pay Down Debt For First Time In 6 Years | Mark Gongloff | Posted 04.29.2013 | Business

Though you may have heard otherwise, austerity is in full force in the U.S., helping the government pay down debt for the first time in six years. ...

Mark Gongloff

The Bond Market's Verdict: Austerity, Reinhart & Rogoff Are Losers | Mark Gongloff | Posted 04.30.2013 | Business

Forget about Reinhart and Rogoff, and whether they're right or wrong about the horrors of too much government debt. The bond market has spoken: There'...

Zach Carter

Goldman Sachs: Deficit Will Plunge Without Austerity | Zach Carter | Posted 04.22.2013 | Politics

Goldman Sachs economists predicted on Friday that the federal budget deficit will shrink over the next few years by more than previously projected. ...

Zach Carter

House And Senate Republicans Diverge On Tax Deal With Obama | Zach Carter | Posted 03.17.2013 | Politics

WASHINGTON -- Sharp differences emerged on Sunday between House and Senate Republicans over the prospect for a budget deal with President Barack Obama...

Sequestration's Human Sorrows

Patricia McGuire | Posted 04.29.2013 | DC
Patricia McGuire

I implore Congress and the White House to find a sensible and just solution to the current impasse with sequestration.

Debt and More Debt

Jerry Jasinowski | Posted 04.28.2013 | Politics
Jerry Jasinowski

The pension crisis is yet another downside of the Fed's quantitative easing that creates a Catch 22 for pension stewards. It makes it difficult if not impossible for pension fund managers to get a decent return by investing in low-risk federal securities.

Preston Maddock

Fix The Debt Protest Draws Activists, Inflatable Pig | Preston Maddock | Posted 02.07.2013 | Politics

WASHINGTON -- More than 100 union members and progressive activists marched to a Capitol Hill hotel Wednesday to protest a meeting of corporate chiefs...

Say Hello To The New Financial Apocalypse

The Huffington Post | Mark Gongloff | Posted 01.23.2014 | Business

Science has determined that people need to know 7.5 things per day, on average, about the world of business. You can't argue with science. Lucky for y...

The Fiscal Cliff, the Republicans and the Ghost of Christmas Past

David Coates | Posted 02.18.2013 | Politics
David Coates

As reports thicken of a possible deal between the White House and the House Republicans -- a deal which will supposedly avoid the rest of us going over some fiscal cliff on January 1 -- it is worth remembering at least four reasons why such a deal is probably best avoided.

Businesses Threaten Early Recession Over Fiscal Cliff

The Huffington Post | Mark Gongloff | Posted 11.19.2012 | Business

Science has determined that people need to know 7.5 things per day, on average, about the world of business. You can't argue with science. Lucky for y...

Republicans Prepare To Shove Wealthy Under Bus

The Huffington Post | Mark Gongloff | Posted 11.13.2012 | Business

Science has determined that people need to know 7.5 things per day, on average, about the world of business. You can't argue with science. Lucky for y...

11 Things The GOP Doesn't Want You To Know About The Deficit

The Huffington Post | Bonnie Kavoussi | Posted 09.05.2012 | Business

The national debt surpassed a record $16 trillion on Friday: a massive figure that Republican politicians are using to slam the Obama administration. ...

The Bernanke Cliff

Michael Pento | Posted 10.20.2012 | Business
Michael Pento

There is indeed a real fiscal cliff that the United States is racing towards. It's the very same cliff that Europe has already dived over. That cliff is based on the collapse of our debt and dollar markets, resulting from the lost faith on the part of international investors.

Debt-Ceiling Battle Cost Huge Amount: Study

Mark Gongloff | Posted 09.22.2012 | Business
Mark Gongloff

The 2011 argument about the debt ceiling cost the U.S. government about $1.3 billion in extra borrowing costs, according to a new study. And that's just the costs that they bothered to count.

The Most Disenfranchised Group In America? It's Not Who You Think

Tom Barrella | Posted 05.07.2012 | Education
Tom Barrella

I teach 100 of them each year about investing and finance at a leading public high school on New York's Long Island. Their mindset upon entering class that first day is one of blissful ignorance.

Bonnie Kavoussi

Bernanke: 'The Elephant In The Room Is Really Health Care Costs' | Bonnie Kavoussi | Posted 02.02.2012 | Business

Federal Reserve Chairman Ben Bernanke warned Thursday that rising health care costs must be curbed if the U.S. government is to reduce the federal deb...