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U.S. Treasury Secretary Timothy Geithner formally requested that Congress raise the $12.1 trillion statutory debt limit on Friday, saying that it coul...
Sheldon Filger | Posted 08.29.2009 | Business
The warning is crystal clear. Before the onset of the current financial and economic crisis, the U.S. had structural deficits measured in the hundreds of billions of dollars.
AP | MARTIN CRUTSINGER | Posted 08.27.2009 | Politics
WASHINGTON — President Barack Obama put forward his top economic officials on Monday to try to reassure China that the U.S. will not let huge bu...
salon.com | Andrew Leonard | Posted 07.30.2009 | Business
Last week, in three separate auctions, the U.S. Treasury offered up more government debt for sale than ever before -- $104 billion dollars worth of no...
Sheldon Filger | Posted 07.07.2009 | Politics
There is no rabbit to pull out of a magician's hat.
AP | Posted 06.27.2009 | Business
NEW YORK — Moody's Investors Service said Wednesday the U.S. government's "Aaa" rating is stable despite the country's swelling debt. A credit ...
Bloomberg | Robert Schmidt | Posted 06.21.2009 | Business
Treasury Secretary Timothy Geithner said the Obama administration is committed to reducing the federal budget deficit after concerns rose that the U.S...
bloomberg.com | Roger Runningen and Hans Nichols | Posted 06.14.2009 | Business
President Barack Obama, calling current deficit spending "unsustainable," warned of skyrocketing interest rates for consumers if the U.S. continues to...
New York Times | KEITH BRADSHER | Posted 02.07.2009 | Business
China has bought more than $1 trillion of American debt, but as the global downturn has intensified, Beijing is starting to keep more of its money at ...
Washington Post | Lori Montgomery | Posted 02.03.2009 | Business
With President-elect Barack Obama and congressional Democrats considering a massive spending package aimed at pulling the nation out of recession, the...
Huffington Post | Nicholas Graham | Posted 11.07.2008 | Business
In a troubling sign to say the least, the financial crisis has forced the U.S. to take on so much more debt that we have broken the clock in midtown t...
Robert L. Borosage | Posted 11.07.2008 | Politics
So much for the $700 billion bailout of Wall Street. Clearly, once the bailout passed, investors took a good look at the real economy and went to the mattresses. We're headed into a great reckoning.
Zack Exley | Posted 10.20.2008 | Business
"We just went from Free Fall to Free Lunch. It turns out free markets are the greatest system on earth, but only when they go up. Market discipline is for low-income people and homeowners."
AP | Tom Raum | Posted 03.28.2008 | Business
Like a ticking time bomb, the national debt is an explosion waiting to happen. It's expanding by about $1.4 billion a day - or nearly $1 million a min...
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Reuters | Posted 09.08.2009 | Business