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US Debt

Congress Shouldn't Play Politics With the Debt Ceiling

Joel Friedman | Posted 10.20.2015 | Politics
Joel Friedman

The House will vote this week on a Republican proposal allowing the Treasury to borrow funds to pay bondholders and Social Security recipients if there's a prolonged standoff over raising the debt ceiling. But this approach is extremely dangerous.

Fidel Castro Marks Birthday By Asking U.S. For Millions In Damages

AP | Alexandra Ma | Posted 08.14.2015 | World

HAVANA (AP) — Fidel Castro marked his 89th birthday with a newspaper column Thursday repeating assertions that the U.S. owes socialist Cuba "nu...

Debt Denial: Stealing from Our Kids

Munir Moon | Posted 01.23.2014 | Politics
Munir Moon

Our leaders like to call their strategy borrowing, but it is really tantamount to stealing -- from our children, worse yet. Why? Because we have no plans to pay the debt.

De-crowning the Dollar

Michael Pento | Posted 01.23.2014 | Business
Michael Pento

The gradual erosion of the U.S. dollar's status as the world's reserve currency has been greatly hastened of late. This is due not only to the perpetual gridlock in D.C., but also our government's inability to articulate a strategy to deal with the reported $126 trillion of unfunded liabilities.

We Deliver

Jeff Danziger | Posted 12.08.2013 | Politics
Jeff Danziger


Economists: This Is The Top Problem Plaguing The Economy

AP | Posted 08.26.2013 | Business

NEW YORK -- The biggest fiscal challenge facing the U.S. is the size of projected deficits in the 2020s and 2030s, according to a survey of business e...


Neil McCarthy | Posted 09.24.2013 | Business
Neil McCarthy

We have turned economics into a morality play. Austerians share a visceral contempt for government deficits. They do not just think deficits are bad as a matter of policy; they think deficits are bad, period. But anyone with a cursory knowledge of economic history rejects this narrative.

Deficit Continues To Shrink: White House

AP | ANDREW TAYLOR and JIM KUHNHENN | Posted 09.07.2013 | Politics

WASHINGTON — The White House said Monday that the federal budget deficit for the current fiscal year will shrink to $759 billion. That's more th...

GDP Bag of Tricks

Michael Pento | Posted 06.30.2013 | Business
Michael Pento

It all comes down to this, the U.S. government will not be able to service its debt once interest rates normalize, and that will be the sad truth regardless of what voodoo tricks Washington uses to report GDP.

Great Recession Creates 'The New Homeless'

The American Prospect | Posted 03.27.2013 | Politics

In the Denver suburbs, as in much of the U.S., the Great Recession turned formerly stable families into the new homeless—and left many living in bud...

Bill Clinton: Austerity Can't Solve Debt Problem

The Huffington Post | Caroline Fairchild | Posted 02.08.2013 | Business

With automatic spending cuts scheduled to begin March 1, former President Bill Clinton urged Congress today to seek alternative options to solve the d...

U.S. Consumer Debt Reaches Historic High

AP | MARTIN CRUTSINGER | Posted 02.06.2013 | Money

WASHINGTON — Americans swiped their credit cards more often in October and borrowed more to attend school and buy cars. The increases drove U.S....

Bad and Good Advice About the "Fiscal Cliff"

Dan Solin | Posted 01.20.2013 | Business
Dan Solin

If I hear "fiscal cliff" one more time, I will consider jumping off a real cliff. The financial media is in hyperactive overdrive, breathlessly dispensing what passes for investment advice.

To Those Seized by Debt Fear: China Holds Just 10 Percent, Down From 2 Years Ago

Paul Abrams | Posted 12.19.2012 | Politics
Paul Abrams

How many times do we hear the forces of doom--primarily from the right wing that wants to end just about everything government does that can help the American people--that we cannot going on "borrowing from China"?

Dean Baker On Obama's Debate Performance: Obama Is 'Paying The Price' For Earlier Mistakes

The Huffington Post | Saki Knafo | Posted 10.04.2012 | Politics

To no one's surprise, much of Wednesday night's debate focused on the country's trillion dollar deficit. The Republicans and some Democrats have h...

The Global Debt Bomb and the Fiscal Unsustainability of the United States

Hon. Joseph J. DioGuardi | Posted 11.30.2012 | Politics
Hon. Joseph J. DioGuardi

We can no longer ignore the fact that the national debt is becoming so large that just spending more and taxing less, and paying the interest on the ever-increasing resulting debt, can soon bankrupt America.

FDR's New Deal Shattered the Austerity Myth

David Woolner | Posted 07.07.2012 | Politics
David Woolner

Much like the 1930s, our slow climb out of the Great Recession has been made all the more difficult thanks to the unwillingness of austerity hawks in Congress to pass the president's jobs bill and other pieces of stimulus legislation.

Bank Of America, Goldman And Others' Insanely Large Derivative Holdings Visualized

The Huffington Post | Harry Bradford | Posted 04.27.2012 | Business

Roughly a decade ago, billionaire Warren Buffett pronounced derivatives, or securities based on a contract between parties, "financial weapons of mass...

No More Bull: What Women Need to Know About the Economy and Why it Matters in 2012

Martha Burk | Posted 05.23.2012 | Money
Martha Burk

With the U.S. suffering from the effects of a long and painful recession, the economy is the number one issue for women and men alike going into the 2012 elections. But women arguably have a bigger stake.

Ferguson: Krugman May Be Right, 'Very Large Debts Are Sustainable'

Business Insider | Henry Blodget | Posted 01.31.2012 | Business

Unless countries get control of their ballooning debts, Ferguson has argued, we will be headed for crisis after crisis. And Ferguson remains convinced...

Private Businesses Are Improving, But a Big Unknown Lurks

Brian Hamilton | Posted 03.27.2012 | Business
Brian Hamilton

Are the best years of the United States behind us? I don't think so, but the national debt will remain the biggest threat to this glacier of an economy.

Fed Dismisses Economic Recovery

Michael Pento | Posted 03.12.2012 | Business
Michael Pento

The Fed is becoming more concerned about the sustainability of the U.S. recovery, just as the economy looks to be gaining momentum.

Money Managers' Least Favorite Investment

AP | MATTHEW CRAFT | Posted 02.04.2012 | Business

NEW YORK — Ask the people who invest billions for a living to name their favorite picks for 2012 and you'll get a smorgasbord worthy of a holida...

Chill in the Air

Max Fraad Wolff | Posted 01.22.2012 | Business
Max Fraad Wolff

We find ourselves several years into a wheezing, anemic "recovery." Public patience has been lost. As colder winds and shorter days make themselves felt, there seems a tangible shiver running down the collective spine.

Super Committee Shenanigans

Michael Farr | Posted 01.18.2012 | Business
Michael Farr

President Obama was in Australia this week where he criticized European leaders for their "lack of will." The phrase seems an odd rock for the leader of a country living in its own large glass house.