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Keyword: debt

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  • Students Need Real Opportunities for Work—Not More Debt

    10/09/2019 12:10:42 PM PDT · by Kaslin · 14 replies ^ | October 9, 2019 | Whitney Munroe
    Last week, Google announced its intent to join Apple, IBM, Microsoft, and more than 350 other private sector companies in the Pledge to America’s Workers Initiative. Through this program, the White House and its private sector partners have committed to providing Americans—from recent high school graduates to those nearing retirement—with a pathway into the skilled workforce of the future, bypassing the traditional four-year college track. The current K-12 to college pipeline is failing to prepare students for that workforce, and for many, is instead leaving them saddled with debt that prevents them from accessing the training and skills necessary to...
  • Forty States In The U.S. Do Not Have Enough Money To Pay Their Bills

    09/29/2019 12:32:21 PM PDT · by RomanSoldier19 · 88 replies
    forbes ^ | Sep 24, 2019, | Mayra Rodriguez Valladares
    Forty U.S. states do not have enough money to pay all their bills primarily due to significant unfunded pensions or Other-Post-Employment Benefits (OPEB). Truth in Accounting (TIA), a nonpartisan, not-for-profit has been monitoring the financial health of states for a decade in order to educate taxpayers about the financial health of their states today released its tenth annual Financial State of the States.
  • CAGW Names Illinois Gov. J. B. Pritzker September 2019 Porker of the Month

    09/28/2019 8:14:46 PM PDT · by Tolerance Sucks Rocks · 21 replies
    Citizens Against Government Waste ^ | September 2019 | Citizens Against Government Waste
    Citizens Against Government Waste (CAGW) named Illinois Governor J. B. Pritzker (D) September 2019 Porker of the Month for signing a $40.1 billion budget without any spending restraints and $1.4 billion in pork-barrel projects. Illinois currently has a $223.9 billion shortfall, which breaks down to a debt burden of $52,600 per taxpayer. The state has $6 billion in unpaid bills and the lowest credit rating of any state in the country. Its unfunded pension liability tops $130 billion. Illinois taxpayers are so saddled with debt, taxes, corrupt local government, and dwindling middle-class jobs that 157,000 residents have left over the...
  • Two Ticking Time Bombs That Began Under President Reagan And Are Only Getting Worse

    09/23/2019 8:56:54 AM PDT · by SeekAndFind · 42 replies
    Townhall ^ | 09/23/2019 | Scott Morefield
    I grew up during the Reagan years, and I remember them well. To me, the war and social upheavals of the 60s were history I’d never experienced and the country had thankfully moved past, and I was too young to remember the Carter malaise. So, the sense of national unity, patriotism, and optimism under the Gipper seemed like the norm, not an eight-year aberration, for a child of the 80s like myself. In hindsight, President Reagan was exactly what the country needed at the time. His inspiring speeches, calming demeanor, and even strident anti-communism were the perfect tonic for a...
  • A Peacetime Dunkirk? Travel Company Thomas Cook Collapses, Strands Over 150,000 Travelers

    09/23/2019 8:28:19 AM PDT · by SeekAndFind · 25 replies
    Hotair ^ | 09/23/2019 | Ed Morrissey
    What happens when the world’s oldest travel company closes its doors? It leaves a lot of people very far from home and no clear way to get back. Thomas Cook collapsed overnight after 178 years of operation thanks to debt commitments that could not be met, leaving more than 150,000 people scattered across the globe with no way home and no paid accommodations.The legendary firm’s CEO issued an apology, but that alone won’t do much: Thomas Cook CEO Peter Fankhauser apologizes after the world's oldest travel company went into liquidation, leaving thousands of passengers stranded around the world. More:...
  • Fed Admits Failure of ‘Plan A’ to Control Money Market Rates, Shifts Back to Repos ...

    09/20/2019 11:35:56 PM PDT · by Yosemitest · 119 replies ^ | 20 September 2019 | Wolf Richter
    Fed Admits Failure of ‘Plan A’ to Control Money Market Rates, Shifts Back to Repos (which was ‘Plan A’ till 2008) The hullabaloo in the repo market torpedoed the function of Interest on Excess Reserves and forced the Fed to go back to the future. With its announcement this morning, the New York Fed confirmed that the Fed’s Plan A of manipulating the federal funds rate into its target range – now between 1.75% and 2.0% — has miserably failed, and that it will switch to Plan B to control short-term interest rates. But this Plan B used to...
  • After the Mortgage Crisis Bailout: Have Fannie and Freddie Paid the Taxpayers Back Yet?

    09/20/2019 11:52:59 AM PDT · by SeekAndFind · 4 replies
    RCM ^ | 09/20/2019 | Alex Pollock
    The distinguished judges of the U.S. Court of Appeals for the Fifth Circuit have considered how much Fannie Mae and Freddie Mac have paid the Treasury Department to compensate the taxpayers for the giant bailout which kept Fannie and Freddie in existence and business. The court observed in its September 6 judgment: “The net worth sweep transferred a fortune from Fannie and Freddie to Treasury.” Specifically, “Treasury had disbursed $187 billion and recouped $250 billion.” The “net worth sweep” is the dividend on the senior preferred stock in Fannie and Freddie acquired by the Treasury in the bailout. Originally set...
  • Real US debt levels could be a shocking 2,000% of GDP, a Wall Street report suggests

    09/09/2019 11:20:53 AM PDT · by NRx · 26 replies
    CNBC ^ | 09-09-2019 | Jeff Cox
    * Total US debt including all forms of government, state, local, financial and entitlement liabilities comes close to 2,000% of GDP, according to AB Bernstein. * The biggest potential load comes from entitlements, but is being pressured from rising levels of federal government debt as well. * The warnings about potential debt hazards come as the total federal debt outstanding has surged to $22.5 trillion. * A debt reform advocate says now is the time for the U.S. to tackle the issue, before recession hits. Total potential debt for the U.S. by one all-encompassing measure is running close to 2,000%...
  • Privatizing Fannie Mae and Freddie Mac is a Start

    09/06/2019 10:47:13 AM PDT · by Red Badger · 3 replies ^ | September 5, 2019 | Daniel Greenfield
    The level of government interference and taxpayer exposure in the housing market has always been a huge problem. Higher education and mortgages have been key weapons of social engineering. The creation of massive amounts of debt and the entanglement of the government and taxpayers in mortgages was a major cause of the last economic meltdown. The solution here is at best incomplete, but it's a reasonable next step. Especially when dealing with 2020 Democrats who would love nothing more than to create another trillion dollar catastrophe by bribing their voters like crazy. The Trump administration on Thursday released its first...
  • The Fall of Rome - Are There Lessons We Can Learn?

    09/04/2019 1:32:23 PM PDT · by Perseverando · 12 replies
    American Minute ^ | September 04, 2019 | Bill Federer
    GREAT WALL OF CHINA By 220AD, the Later Eastern Han Dynasty had extended sections of the Great Wall of China along its Mongolian border. This resulted in the Northern Huns attacking west instead of east. This caused a domino effect of displaced tribes migrating west across Central Asia, and overrunning the Western Roman Empire. OPEN BORDERS Illegal immigrants poured across the Roman borders: Visigoths, Ostrogoths, Franks, Anglos, Saxons, Alemanni, Thuringians, Rugians, Jutes, Picts, Burgundians, Lombards, Alans, Vandals, as well as African Berbers and Arab raiders. Will and Ariel Durant wrote in The Story of Civilization (Vol. 3-Caesar and Christ, Simon...
  • Bernie Goes Full Oprah: Promises to Erase $81 Billion in Medical Debt

    09/03/2019 9:13:10 AM PDT · by SeekAndFind · 34 replies
    The Democratic primary war is truly something to behold. One Democrat after another promises voters the world and then some. Heck, the universe and then some. See their plans to erase student debt. It's insane, it'll cost taxpayers a ridiculous amount, but a Democrat who opposes erasing student debt will have to fight an uphill battle to win the nomination. Yes, even if his name happens to be Joe Biden. Well, Vermont Senator Bernie Sanders has just upped the ante. He now promises to erase $81 billion in medical debt. I kid you not. HeadlinezPro explains: Sen. Bernie Sanders (I-VT)...
  • Metal Asteroid Hurtling Through Space Could Wipe Out...U.S. Debt!

    08/31/2019 9:57:10 AM PDT · by infool7 · 83 replies
    Bill Whittle Now ^ | 8/31/2019 | Bill Whittle
    A metal asteroid worth $10,000 quadrillion, hurtling through space, makes construction of a massive orbital space station substantially cheaper. At least one company is already pitching a plan for a Von Braun Gateway Station housing some 1,500 people in orbit. The resources on the single asteroid, 16 Psyche, is not only enough to build the station, but to wipe out the U.S. national debt thousands of times over.
  • Treasury Secretary Mnuchin says ultra-long bonds are being considered by the Trump administration

    08/29/2019 6:41:08 AM PDT · by C19fan · 18 replies
    CNBC ^ | August 28, 2019 | Elizabeth Myong
    Treasury Secretary Steven Mnuchin said ultra-long U.S. bonds are being considered by the Trump administration, according to Bloomberg News. “If the conditions are right, then I would anticipate we’ll take advantage of long-term borrowing and execute on that,” Mnuchin said in the Bloomberg News interview on Wednesday. The 50- or 100-year bond idea recently gained popularity in the Treasury but was considered as early as 2009, according to the report by Bloomberg. Issuing long-term debt would alleviate the pressure on taxpayers to stymie the almost $1 trillion annual budget deficit and could mean returns to pension funds despite falling yields.
  • Under Trump, the deficit has ballooned, exploding a GOP myth

    08/28/2019 12:45:49 PM PDT · by ChicagoConservative27 · 97 replies
    cnn ^ | 08/24/2019 | Julian Zelizer
    (CNN)The Congressional Budget Office has predicted the federal deficit could reach $1 trillion by the 2020 fiscal year. Once again, President Trump has exposed a myth in American politics. That myth? That Republicans are the party of fiscal responsibility. He is just the latest Republican president to demonstrate this. His drive for corporate tax cuts, which received strong Republican support, has blown a huge hole in the federal ledger. Tea Party Republicans once railed against President Barack Obama's spending habits. As the deficit has grown under Trump, however, they've suddenly changed their tune. Acting Chief of Staff and Office of...
  • REVEALED: Why It’s The Democratic 2020 Field, And Deranged Haters That Are 'UNFIT!'

    08/25/2019 2:41:22 PM PDT · by Kaslin · 14 replies ^ | August 25, 2019 | Kevin McCullough
    Bernie Sanders, Elizabeth Warren, and numbers of the rest of the Democratic field claim it should happen. Of course none of them have advanced legislation to do so, and their official platforms don’t explain how they would. Recent administrations ran on reforming the system but once elected neither Democrats nor Republicans appear to have remembered their promise to do so. This includes the current former Vice President who now wants his former boss’ job even though he seems to barely be able to remember what he had for breakfast. (Oops that’s right he didn’t have breakfast.) Everyday from the Decision...
  • Our Debt Dwarfs China as Top National Security Threat

    08/24/2019 5:19:31 AM PDT · by SeekAndFind · 46 replies
    American Thinker ^ | 08/24/2019 | Todd Fleming
    This year's National Defense Strategy heralded the return of peer competitors and the re-emergence of long-term great power competition.  The debate among national security experts that followed its publication mostly focused on whether China or Russia is the bigger long-term threat to the U.S. China is a rising power with national ambitions whose goal is to supplant U.S. atop the global hierarchy.  Russia?  It's a vodka-addled demographic basket case that runs a few troll farms, whose closest economic peers are Italy and Brazil.   But, an increasingly dangerous China is at best the number two national security threat, dwarfed by the much clearer...
  • Should I cosign a loan? Does the Bible Give Any Guidelines?

    08/23/2019 8:20:20 AM PDT · by SeekAndFind · 56 replies
    Christian Post ^ | 08/23/2019 | Chuck Bentley
    To learn Biblical answers to your financial questions, you can #AskChuck @AskCrown your questions by clicking here. Questions used may be lightly edited for length or clarity.Dear Chuck,So, I cosigned for a student loan and now I’m stuck paying for it. Is there anything I can do?RegretfulDear Regretful,Unfortunately, the same thing happened with my Dad and we have not found a satisfactory remedy. He was approached by an employee whose son needed assistance to get a “head start in life.” Because my father wanted to help and believed the story that the young man would respect those who helped him...
  • CBO Projects Trillion-Dollar Deficits for the Next Decade—And No One Seems to Care

    08/22/2019 6:53:23 AM PDT · by SeekAndFind · 9 replies
    PJ Media ^ | 08/22/2019 | Rick Moran
    A trillion here. A trillion there. A trillion-dollar deficit as far as the eye can see.But don't worry. You're not talking about real money. This is Trump money, where reality can be manipulated to reflect anything.So Trump can simply claim the latest CBO report showing deficits beginning in 2020 to hit more than a trillion dollars through 2029, to be fake news. Or a Democratic lie.It's certainly more appetizing to ignore reality than to accept it.CNBC: The U.S. budget deficit is expected to hit $960 billion in 2019, and average a whopping $1.2 trillion per year between 2020 and...
  • The National Debt, does anyone care?

    08/21/2019 12:50:47 PM PDT · by Sean_Anthony · 23 replies
    Canada Free Press ^ | 08/21/19 | Jim Ross Lightfoot
    So, when will we hear someone running for election or re-election start talking about our huge debit and ways to reduce it? Now that we have the Democrat debates underway it’s time to turn our attention to carefully listen to what the potential candidates have to say. Are they talking about issues that are really important to the nation? Or, are they talking about proposed plans and schemes that will get them elected? Out here in the real world much of what we hear is a bit confusing and is difficult to understand.
  • China loses status as US’s largest foreign creditor to Japan

    08/21/2019 4:46:29 AM PDT · by BeauBo · 20 replies
    The State (South Carolina) ^ | August 15, 2019 | SARAH MCGREGOR AND KATHERINE GREIFELD
    Japan surpassed China in June as the top holder of U.S. Treasuries as the trade war between the world's two largest economies intensified. Japan increased its holdings of U.S. bonds, bills and notes by $21.9 billion to $1.12 trillion, the highest level in more than 2 1/2 years, according to data released by the Treasury Department on Thursday... The last time Japan held the position as America's largest foreign creditor was May 2017... China's U.S. debt hoard has come under increased scrutiny in the trade dispute amid speculation that the Asian nation could sell Treasuries in response.