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Keyword: debt

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  • NYT: $3B gov’t retraining program as effective as you’d guess; Years older and deeper in debt.

    08/18/2014 2:53:36 PM PDT · by SeekAndFind · 4 replies
    Hotair ^ | 08/18/2014 | Ed Morrissey
    To paraphrase the old Tennessee Ernie Ford song — you take a ton of government cash to get job retraining, and what do you get? Several years older and deeper in debt, according to the New York Times, which casts a critical eye on the Workforce Investment Act. The program first came into existence in 1998 and was expanded in the 2009 stimulus bill passed by Democrats, but does it actually help people find work and restore their economic independence? Not really, and the costs more often make situations worse instead of better: Instead, an extensive analysis of the...
  • Oil and gas company debt soars to danger levels to cover shortfall in cash

    08/11/2014 4:08:43 PM PDT · by Lorianne · 19 replies
    Telegraph (UK) ^ | 11 August 2012 | Ambrose Evans-Pritchard
    The world’s leading oil and gas companies are taking on debt and selling assets on an unprecedented scale to cover a shortfall in cash, calling into question the long-term viability of large parts of the industry. The US Energy Information Administration (EIA) said a review of 127 companies across the globe found that they had increased net debt by $106bn in the year to March, in order to cover the surging costs of machinery and exploration, while still paying generous dividends at the same time. They also sold off a net $73bn of assets. This is a major departure from...
  • GAO: Government failed to report $619 billion in spending to its transparency site

    08/06/2014 4:49:57 AM PDT · by TurboZamboni · 5 replies
    WaPo ^ | 8-5-14 | Josh Hicks
    The White House budget office launched USASpending.gov in 2007 to track federal spending after scores of lawmakers, including then-Sen. Barack Obama, successfully pushed through a bipartisan bill to ensure greater transparency with the funding. At last check, less than 8 percent of the site’s spending information was accurate, and federal agencies had failed to report nearly $620 billion in grants, loans and other forms of assistance awards, according to a recent report from Congress’s nonpartisan Government Accountability Office.
  • Neither Party Cares About Our $17 Trillion Debt

    08/06/2014 4:24:41 AM PDT · by LeoMcNeil · 22 replies
    In five and half years in office President Obama has presided over an increase in the national debt of $7 trillion. His predecessor presided over a $4.9 trillion increase in eight years. Obama called the increase in the debt under Bush “unamerican.” What do you want to bet Obama doesn’t think the same of his debt increase? No doubt he’ll blame others. Our nation has a national debt of $17.6 trillion, it’s increased $12 trillion since 2001. This sort of debt is unsustainable and yet no one is talking about it. It’s no surprise that Obama doesn’t want to talk...
  • The Era of Spiraling Debt: How Long Will the Scheme Last?

    08/05/2014 7:38:49 AM PDT · by SeekAndFind · 10 replies
    FrontPage Mag ^ | 08/05/2014 | Arnold Ahlert
    To the surprise of absolutely no one, the nationÂ’s debt has skyrocketed during President Barack ObamaÂ’s tenure. In a little over five and a half years, the Obama administration has added more than $7 trillion to the total, a number that represents more debt accumulation than the administrations of George Washington through Bill Clinton combined. At the close of business on July 31, the nationÂ’s debt was $17.6 trillion, with $7.06 trillion of it accumulated since Obama was inaugurated in 2009. CNS News offers some gut-wrenching perspective regarding the numbers: As of June, there were 115,097,000 households in the United...
  • Americans Got $2 Trillion in Benefits from Federal Government in 2013

    08/04/2014 8:07:02 PM PDT · by Olog-hai · 38 replies
    Cybercast News Service ^ | August 4, 2014 - 4:53 PM | Ali Meyer
    The federal government paid $2,007,358,200,000 in benefits and entitlements in fiscal year 2013 from government programs, according to data from the Bureau of the Fiscal Service’s Monthly Treasury Statement. The treasury statement summarizes the financial activities of the federal government, including data on government receipts, outlays, and surplus and deficit totals. The September 2013 monthly treasury statement calculates these metrics for the entire fiscal year of 2013, which began on October 1, 2012 and ended on September 30, 2013. According to the statement, the federal government’s total outlays, otherwise known as spending, for means-tested and non-means tested government programs—not including...
  • $7,060,259,674,497.51--Federal Debt Up $7 Trillion Under Obama

    08/04/2014 9:35:21 AM PDT · by F15Eagle · 34 replies
    CNSNews.com ^ | August 4, 2014 - 4:04 AM | By Terry Jeffrey
    (CNSNews.com) - The total federal debt of the U.S. government has now increased more than $7 trillion during the slightly more than five and a half years Barack Obama has been president. That is more than the debt increased under all U.S. presidents from George Washington through Bill Clinton combined, and it is more debt than was accumulated in the first 227 years of this nation's existence--from 1776 through 2003. The total federal debt first passed the $7-trillion mark on Jan. 15, 2004, after President George W. Bush had been in office almost three years. When President Obama took office...
  • US is Bankrupt: $89.5 Tril. in US Liabilities vs. $82 Tril. in Household Net Worth & Gap is Growing.

    08/04/2014 7:19:38 PM PDT · by SeekAndFind · 29 replies
    Biderman's Money Blog ^ | 08/04/2014 | Chris Hamilton
    There are many ways to look at the United States government debt, obligations, and assets. Liabilities include Treasury debt held by the public or more broadly total Treasury debt outstanding. ThereÂ’s unfunded liabilities like Medicare and Social Security. And then the assets of all the real estate, all the equities, all the bonds, all the depositsÂ…all at todayÂ’s valuations. But letÂ’s cut straight to the bottom line and add it all upÂ…$89.5 trillion in liabilities and $82 trillion in assets. There. ItÂ’s not a secret anymoreÂ…and although these are all government numbers, for some strange reason the government never adds...
  • Grim Milestone: Current Administration Adds $7 Trillion to National Debt

    08/04/2014 2:53:36 PM PDT · by Kaslin · 7 replies
    Townhall.com ^ | August 4, 2014 | Daniel Doherty
    On July 3, 2008, then-presidential candidate Barack Obama infamously called President George W. Bush “unpatriotic,” and his polices “irresponsible” for adding $4 Trillion to the country's "credit card." This was almost more than all other US presidents combined, he argued, and therefore was putting America on a dangerous path to fiscal insolvency. Less than six years into his own administration, however, the president has failed to reverse the untenable course set by his predecessor; and, indeed, is making America's heavy debt burden even worse. CNS News reports: The total federal debt of the U.S. government has now increased more than...
  • A Lesson in Economics for Argentina

    08/01/2014 7:51:42 AM PDT · by SeekAndFind · 5 replies
    Pajamas Media ^ | 08/01/2014 | Roger Kimball
    Ok, you economists, this is a quick exercise in free association: When I say “South America” what do you think? If you said “default,” go to the head of the class. Really, it’s the whole bloody continent (think “Mexico,” amigo), but let’s just look at Argentina, an economic basket case if there ever was one. The only question I have is why, given its recent history of fiscal incontinence [1] (not to mention political barbarousness [1]), anyone would lend them a nickel. The latest episode, which has been much in the news lately, involves more than $1 billion that Argentina...
  • Argentina Slides Into Default as Debt Talks Fail

    07/31/2014 6:42:40 AM PDT · by Enlightened1 · 13 replies
    AP via ABC NEWS ^ | 07/31/14 | CLAUDIA TORRENS
    he collapse of talks with U.S. creditors sent Argentina into its second debt default in 13 years and raised questions about what comes next for financial markets and the South American nation's staggering economy.
  • Shock: 80% of U.S. population growth is from immigrants, resources being sucked dry

    07/30/2014 2:32:34 PM PDT · by Nachum · 44 replies
    Washington Examiner ^ | 7/30/14 | Paul Bedard
    A group dedicated to saving the planet by cutting runaway population increases is raising a new and shocking issue in Washington’s bitter fight over immigration reform: Most of the nation’s population growth is from immigrants, and they are consuming resources dangerously fast. According to Negative Population Growth Inc., 80 percent of the growth in U.S. population comes from immigration, legal, illegal and among American-born children of immigrants. “With increased population, we see a direct increase in the problems our nation faces on a daily basis: pollution, over-consumption, traffic gridlock, crowded schools and hospitals, overburdened social services, unemployment, crumbling infrastructure, urban
  • Purchasing Power Sits Idle in the Basement

    07/30/2014 2:30:38 PM PDT · by SovereignSociety · 6 replies
    Economy and Markets ^ | July 29th, 2014 | Rodney Johnson
    Studying and understanding demographic trends is critical when predicting generational spending patterns and long-term economic trends in our economy and markets. The Pew Research Center estimates that in 2012, 57 million Americans lived in multi-generational households, which is defined as two or more adult generations under the same roof. This is more than twice the number of people in such arrangements in 1980. To be clear, no one thinks there’s a rush to bring the aging parents of boomers back into the family home. This is all about the kids who, at this point, have finished their education but...
  • Teacher pay averages $84,489; LAUSD data missing

    07/29/2014 7:10:04 PM PDT · by TurboZamboni · 23 replies
    contra costa times ^ | 7-25-14 | Thomas Himes
    A newly released survey of 653 of California’s 1,058 school systems reports teachers were paid on average $84,489, while 33 administrators earned more than $250,000 in pay alone last year. The pay and compensation information was complied by The California Policy Center, a nonpartisan conservative public policy think tank that runs Transparent California, which posted the survey for the public to review at transparentcalifornia.com “We’re doing this because the public employs the public sector; and members of the public, as voters are being continually asked to approve tax increase and bond measures,” Policy Center Director Ed Ring said. “You can’t...
  • Debt servants: how sustainable are states’ legacy costs?

    07/29/2014 6:58:16 PM PDT · by TurboZamboni · 7 replies
    public sector inc ^ | 7-27-14 | Iliya Atanasov
    A recent report by JP Morgan’s Michael Cembalest provides a fresh look at the problem of state indebtedness. Cembalest, global head of investment strategy, is best known for his writings on housing and for flagging Bernard Madoff’s fund and refusing to invest in it, even while other divisions at JPMorgan gleefully did so. Cembalest looks at state governments’ annual payments towards bonded debt interest and retirement liabilities (defined-benefit and defined-contribution pensions as well as retiree healthcare benefits) expressed as percentage of total annual revenue. In addition to assessing states’ default risk, this approach quantifies exactly how much debt expenditures are...
  • Study: More than 35 percent of Americans are facing debt collectors

    07/29/2014 9:25:40 AM PDT · by SeekAndFind · 24 replies
    The Week ^ | 07/29/2014 | Meghan DeMaria
    A study released by the Urban Institute on Tuesday found that more than 35 percent of Americans have unpaid bills and debt that has been reported to collection agencies.The debts surveyed include everything from gym memberships to auto loans. The study, which looked at records from September 2013, found that 35.1 percent of people with credit records had been reported to collection agencies. The average debt was $5,178.The Associated Press notes that while America has decreased its credit card debt, the percentage of Americans in collections has remained roughly the same. In 2004, a Federal Reserve study found that 36.5...
  • 1 in 3 U.S. adults have 'debt in collections'

    07/29/2014 8:00:25 AM PDT · by TigerClaws · 41 replies
    An estimated 1 in 3 adults with a credit history -- or 77 million people -- are so far behind on some of their debt payments that their account has been put "in collections."
  • GM Debt Climbs to Over $40 Billion, Earnings Disappoint

    07/24/2014 8:17:25 AM PDT · by jazusamo · 34 replies
    NLPC ^ | July 24, 2014 | Mark Modica
    General Motors reported earnings today for the 2nd quarter of 2014. The early prognosis is not good with share price falling after the report. While it is difficult for the Mom and Pop investor to sort through GM's myriad of one-time charges, special items and various smoke and mirrors, there are some key take-aways that give a glimpse of GM's financial health. Primarily, debt continues to grow at the company, now exceeding $40 billion while earnings are propped up by special items. Analyzing the levels of cash compared to debt at GM is probably the easiest way to get to...
  • Clash over campus cards

    07/23/2014 3:52:07 AM PDT · by Cincinatus' Wife · 7 replies
    The Hill ^ | July 23, 2014 | Benjamin Goad and Megan R. Wilson
    The issue plays into the president’s agenda of protecting students and providing an affordable college education — issues the administration also hopes will drive Democrats to the polls in November. The financial industry is clashing with the Obama administration over forthcoming regulations that are intended to protect college students from excessive bank fees. Still in its early stages, the proposal would extend the Education Department’s regulatory authority to deposit accounts opened under arrangements between universities and financial firms that adopt “campus cards,” critics say. The agency reasons that its jurisdiction includes those accounts, since they often serve as receptacles for...
  • CEO of the US, politicians need NOT apply

    07/21/2014 1:31:21 PM PDT · by simka · 111 replies
    self
    We do not need Hillary or Warren or any career politician. We do not need another leader in debt to big business, financial backers or his party agenda. We do need someone truly independent of all political pressures, capable of resolving all the damage done to this country. The names that come to mind are Ben Carson, Mitt Romney and maybe Ted Cruz. What say you all?
  • How to destroy the U.S., one step at a time

    07/21/2014 7:31:40 AM PDT · by BlatherNaut · 17 replies
    Boston Herald ^ | 7/21/14 | Holly Robichaud
    One of our distinguished Massachusetts U.S. senators, Daniel Webster, once said, “There is no nation on earth powerful enough to accomplish our overthrow. Our destruction, should it come at all, will be from the inattention of the people to the concerns of their government.” While people are more concerned with the latest binge-worthy television show or the newest game on their iPad, are they missing the destruction of the United States? How would you do it from within? The first step would be to jeopardize the country’s financial stability. Increasing the national debt by $7 trillion is a good starting...
  • Social Security Disability: What Happens When It Runs Out of Money?

    07/17/2014 3:05:46 PM PDT · by TurboZamboni · 39 replies
    motley fool ^ | 7-6-14 | Dan Caplinger
    Social Security helps not only retirees but also roughly 9 million of people suffering from disabilities. Unfortunately, the trust fund that covers disability payments is in even worse financial condition than the trust fund that covers retirement benefits. What will happen when the disability program's trust fund runs out? In the following video, Dan Caplinger, The Motley Fool's director of investment planning, talks about the two Social Security trust funds, noting that the latest estimates give the retirement trust fund about 20 more years before it runs out of money, but the disability trust fund is slated to be used...
  • CBO -- We're on the road to (fiscal) Perdition, and ObamaCare is hitting the gas pedal

    07/16/2014 5:02:03 AM PDT · by IBD editorial writer · 7 replies
    Investor's Business Daily ^ | 07/15/2014 | IBD Staff
    Debt: No sooner had the White House crowed about a smaller deficit than the Congressional Budget Office reported that the country is headed toward fiscal ruin driven by excessive spending, much of it the result of ObamaCare. Last Friday, in announcing the release of the administration's updated budget numbers, the acting White House budget director bragged that the deficit is undergoing "the most rapid sustained deficit reduction since World War II, and it continues to fall." What he didn't say is that it fell from all-time highs produced by Obama's spending spree. Or that deficits will soon stop falling and...
  • Social Security To Go Bust By 2030: CBO

    07/15/2014 3:53:18 PM PDT · by Oldeconomybuyer · 43 replies
    Investors Business Daily ^ | July 15, 2014 | By JED GRAHAM
    The $2.8 trillion Social Security Trust Fund is on track to be totally spent by 2030, the Congressional Budget Office said Tuesday. That's one year earlier than projected in 2013 and a decade earlier than the CBO estimated as recently as 2011. The CBO delivered the warning in a gloomy long-term budget outlook that shows federal debt reaching 106% of GDP in 25 years, up from 74% now.
  • CBO says US deficit levels are unsustainable

    07/15/2014 3:31:18 PM PDT · by Oldeconomybuyer · 14 replies
    The Hill ^ | July 15, 2014 | By Bernie Becker
    Congress’s nonpartisan budget watchdog warned Tuesday that U.S. entitlement programs would drive the country’s debt to unsustainable levels in the coming years. The federal debt is now 74 percent of the nation's gross domestic product (GDP), the Congressional Budget Office (CBO) said in its latest long-term budget outlook, a product of the outsized budget deficits the U.S. recorded following the 2008 fiscal crash. That figure is already twice the debt level held in 2008, and matched in U.S. history only by a brief span after World War II. But CBO also projects that the public's share of debt will increase...
  • There Are Now 50 Colleges That Charge More Than $60,000 Per Year

    07/10/2014 8:23:56 AM PDT · by SeekAndFind · 25 replies
    Business Insider ^ | 07/10/2014 | Peter Jacobs
    As the average cost of higher education in America continues to rise, at least 50 American colleges and universities are now charging students more than $60,000 per year. We found these numbers by examining the average cost of tuition, fees, room, and board that an incoming student would face over the 2014-15 academic year. Check out a more in-depth breakdown of the 20 most expensive colleges here >>While these direct costs are a significant portion of the total cost of college, they alone do not reveal the true financial burden of higher education — students are also responsible for paying...
  • Government made $100B in improper payments

    07/09/2014 5:18:27 AM PDT · by TurboZamboni · 6 replies
    Pioneer Press ^ | 7-8-14 | Stephen Ohlemacher
    WASHINGTON (AP) — By its own estimate, the government made about $100 billion in payments last year to people who may not have been entitled to receive them — tax credits to families that didn't qualify, unemployment benefits to people who had jobs and medical payments for treatments that might not have been necessary. Congressional investigators say the figure could be even higher. The Obama administration has reduced the amount of improper payments since they peaked in 2010. Still, estimates from federal agencies show that some are wasting big money at a time when Congress is squeezing agency budgets and...
  • Argentina Is Getting Exactly What It Deserves

    07/03/2014 9:41:28 AM PDT · by blam · 20 replies
    Bi ^ | 7-3-2014 | Linette Lopez
    Linette LopezJuly 3, 2014Argentina has its back against a wall. On July 30 it may default on a sovereign-debt payment that could send its economy into a tailspin of rising interest rates, money printing, and inflation. It could be the worst economic tragedy the republic has seen since 2001. And the tragedy will be well deserved, because this is a drama of Argentina's own making, a figment of political imagination tied closely with its history and culture. In Argentina, debt is identity, and this specific over-$1.3 billion debt in question, purchased by a group of hedge fund managers back in...
  • Archdiocese of Philadelphia sells nursing homes for $145 million

    07/03/2014 8:46:09 AM PDT · by Welchie25 · 27 replies
    Catholic Review ^ | 7/3/14 | Lou Baldwin
    The Archdiocese of Philadelphia announced July 1 that it is selling six nursing homes and one assisted living facility operated by archdiocesan Catholic Health Care Services to a Flushing, New York, health care management company for $145 million. The company, Center Management Group, owns and operates 15 nursing homes in New York and New Jersey. Under the agreement, the company has pledged to maintain the Catholic character of the nursing homes. The date for the sale has not been set. The $145 million sale price for the nursing homes will be decreased by certain obligations under the terms of the...
  • Moody's pushes Puerto Rico debt deep into junk status

    07/01/2014 2:58:11 PM PDT · by george76 · 13 replies
    AFP ^ | 01 July 2014
    Ratings company Moody's on Tuesday slashed Puerto Rico's debt rating by three notches into even deeper junk status after the US territory passed a debt-restructuring law. Moody's Investors Service cut the rating to "B2" from "Ba2" and said the outlook was negative, indicating further downgrades were possible. Now dubbed the "Greece of the Caribbean," the archipelago is, like Greece, reeling under massive debt. Over the past decade, the commonwealth's debt has doubled to nearly $70 billion and investors are growing increasingly worried the government is running out of cash. In a bid for debt relief, the Puerto Rican authorities recently...
  • Deficits Are Scary, But Spending Cuts Are Even Scarier

    07/01/2014 7:30:54 AM PDT · by SeekAndFind · 49 replies
    RCM ^ | 07/01/2014 | Ron Haskins
    It has been clear for at least a year that the focus of the nation on reducing the federal debt has vanished. The speeches of policymakers, the House and Senate legislative agendas, the content of the nation's debate forums, and the rhetoric of President Obama are all virtually silent on the nation's debt. You would think that the debt problem had been solved. But perhaps the most remarkable aspect of the intense, three-year focus on the debt that featured bitter inter-party battles and closing of the federal government while producing several laws that reduced the nation's debt in the short-term,...
  • O’Toole: Why is Congress still running the transportation system?

    06/28/2014 9:12:25 PM PDT · by Tolerance Sucks Rocks · 7 replies
    The Greeley Tribune ^ | June 27, 2014 | Randal O'Toole
    Oregon Sen. Ron Wyden has proposed a three-month transportation bill. Three more months, he says, will give Congress a chance to figure out a long-term solution. The only problem is that Congress had three months three months ago and did nothing. Meanwhile, Sens. Chris Murphy, D-Conn., and Bob Corker, R-Tenn., have proposed to increase gas taxes by 12 cents a gallon. Considering that the gas tax hasn’t been increased in more than 20 inflation-filled years, this would seem to make sense.It doesn’t, however, because a gas tax increase assumes there is a shortage of funds for transportation. Instead, the real...
  • How one couple wiped out a $125,000 debt

    06/27/2014 10:12:31 PM PDT · by rjbemsha · 24 replies
    Market Watch ^ | 28 June 2014 | Quentin Fottrell
    Two weeks before Christmas of 2004, Kandy Hildebrandt opened a letter addressed to her husband Russ, at his request. The letter revealed that her husband had a personal loan of $17,500. They sat down to talk about it: Russ also had 11 credit cards totaling $89,000 in debt. “He handled the personal finances,” she says. “I knew we had several credit cards, but I was unaware of the extent of our debt.” The finance charges on the credit cards alone were $1,593 a month – double their $750 monthly rent in New Richmond, Wis. The Hildebrandts knew they needed to...
  • Think college is expensive now? Wait until July 1

    06/26/2014 5:43:45 PM PDT · by SeekAndFind · 5 replies
    CNBC ^ | 06/26/2014 | Sharon Epperson
    Congratulations, graduates, on your diploma. Now what about that $29,000 student loan debt? More than 70 percent of graduates will carry student debt into the real world, according to the Institute for College Access and Success. And the average debt is just shy of $30,000. But the news will get worse next week when interest rates on student loans are set to rise again. Though federal student loan rates are fixed for the life of the loan, these rates reset for new borrowers every July 1, thanks to legislation that ties the rates to the performance of the financial markets....
  • ‘Student Loan Relief Now’: The case for allowing these debts to be erased via bankruptcy.

    06/25/2014 6:45:30 AM PDT · by SeekAndFind · 46 replies
    Weekly Standard ^ | 06/25/2014 | Ike Brannon
    [SNIP] We allow people to declare bankruptcy in acknowledgment that letting people escape from debt they cannot repay is a beneficial policy for both society and the economy. To exempt a particular type of debt—for an activity society should very much like to encourage—belies the very reason for a bankruptcy law in the first place. Lending a student $60,000 to attend a private school he may have little chance of graduating from is not terribly different than the mortgage lenders who gave imprudent loans to people buying homes they could not really afford. [SNIP] If we are concerned that allowing...
  • Why college graduates are too broke to launch their lives

    06/24/2014 5:59:04 AM PDT · by SeekAndFind · 63 replies
    New York Post ^ | 06/24/2014 | By Gregory Bresiger
    Life’s traditional milestones of marriage, home and children do not hold any currency for today’s millennials due to lack of cash. Many young adults, facing a difficult job market, suffer from a failure to launch their lives and leave the safety of the family home. Many must continue to rely in some part on parents for financial support, according to the findings of a new survey. “The majority of young adults are struggling to achieve financial security in their transition from college to adulthood,” according to the Arizona Pathways to Life Success for University Students (APLUS). It is an annual...
  • Debt Capital Diplomas: Many families facing the hefty price of sending their children to college

    06/23/2014 8:40:28 AM PDT · by SeekAndFind · 19 replies
    Townhall ^ | 06/23/2014 | Harry R. Jackson
    With high school graduation season out of the way, countless families are facing the hefty price tag of sending their children to college. Over the past five years, tuition rates for private four-year colleges have risen 14 percent, while rates for public colleges have risen 27 percent. If you look back thirty years, tuition has risen a shocking 1200 percent. There is plenty of speculation about the reasons for these rising costs, which have outpaced inflation for decades. But far more important to millions of parents is how to minimize and manage them. According to the National Center for Education...
  • Common Core Goes to College – Obama Admin's New Rating System

    06/19/2014 9:56:03 AM PDT · by SeekAndFind · 12 replies
    Christian Post ^ | 06/19/2014 | Napp Nazworth
    Despite strong opposition from College presidents, the Barack Obama administration is moving forward with a college rating system based upon a philosophy of education that bears a striking resemblance to the Common Core. According to a White House fact sheet and a Department of Education FAQs page, colleges would receive a rating based upon: costs, graduation rates, how much money graduates make, and how many graduates go on to get advanced degrees. Pitched as a way to slow the rising costs of higher education, Obama wants to tie those ratings to federal aid. Students who attend colleges with higher scores...
  • Argentina says next bond payment 'impossible', default looms

    06/19/2014 6:36:22 AM PDT · by WhiskeyX · 14 replies
    Reuters ^ | Thu Jun 19, 2014 8:41am EDT | Hugh Bronstein and Joseph Ax
    (Reuters) - Argentina threatened to default on its debt on Wednesday when the government called it "impossible" to pay bond service due on June 30, citing a U.S. court decision earlier in the day that increased pressure on the economically ailing country.
  • Top 10 Happiest Colleges in the Country

    06/18/2014 7:48:27 AM PDT · by Vigilanteman · 51 replies
    Fastweb ^ | 18 June 2014 | Kathryn Knight Randolph
    Original article was published by The Daily Beast earlier this month. If you don't care to go to the original, these are the top 10: Texas A& M Stanford University University of Wisconsin Florida State University University of North Carolina, Chapel Hill University of Florida Brigham Young University University of Georgia University of Texas, Austin Kansas State University
  • Humiliation at rout hits Iraqi military hard

    06/17/2014 2:32:59 PM PDT · by Oldeconomybuyer · 19 replies
    Washington Post ^ | June 17, 2014
    The Iraqi soldiers tell of how they can hardly live with the shame of their rout under the onslaught of the Islamic militants. Their commanders disappeared. Pleas for more ammunition went unanswered. Troops ran from post to post only to find them already taken by gunmen, forcing them to flee. “I see it in the eyes of my family, relatives and neighbors,” one lieutenant-colonel who escaped the militants’ sweep over the northern city of Mosul told The Associated Press. “I am as broken and ashamed as a bride who is not a virgin on her wedding night.”
  • The Social Security cash crunch Congress can't ignore

    06/17/2014 2:36:58 PM PDT · by Oldeconomybuyer · 23 replies
    CNN Money ^ | June 17, 2014 | By Jeanne Sahadi
    It's highly unlikely that Congress will reform Social Security any time soon. But there is a near-term cash crunch in one part of Social Security that lawmakers must resolve in the next year or two. The trust fund for Social Security disability benefits, which is separate from the fund for retirement benefits, is on track to be insolvent -- most likely by the end of 2016 but no later than 2017. So unless Congress acts to replenish the fund beforehand, the program will only be able to pay an estimated 80% of promised benefits to 8.8 million disabled workers, plus...
  • How to live with your parents

    06/17/2014 8:29:46 AM PDT · by Lorianne · 24 replies
    Your Houston ^ | 16 June 2014 | Tom Purcell
    Hey, young adults, living at home with Mom and Dad isn’t the end of the world — if you follow the right advice. As it goes, reports the U.K.’s Daily Mail, nearly 30 percent of adults under age 35 are living at home with their parents. Why? Well, the economy continues to sputter along, producing few entry-level jobs that allow young college graduates to get their careers underway. And thanks to soaring tuition costs, there is the record amount of college-loan debt that young people are carrying. Nearly 37 million young Americans owe more than $1 trillion in student-loan debt...
  • Argentina president defies US court order on repayment of debts

    06/17/2014 5:25:40 AM PDT · by WhiskeyX · 9 replies
    FoxNews ^ | June 17, 2014 | FoxNews.com
    Argentina's president has said that she would refuse to comply with a U.S. judge's order to pay $1.5 billion to winners of a decade-long legal battle over defaulted debt after the U.S. Supreme Court refused to hear her government's final appeal. [....] Under the U.S. court orders, Argentina must hand over $907 million to the plaintiffs before June 30, or lose the ability to use the U.S. financial system to pay an equal amount to holders of other Argentine bonds.
  • The United States Of Debt: Total Debt In America Hits New Record High Of Nearly 60 Trillion Dollars

    06/16/2014 11:43:42 AM PDT · by SeekAndFind · 29 replies
    TEC ^ | 06/16/2014 | Michael Snyder
    What would you say if I told you that Americans are nearly 60 TRILLION dollars in debt? Well, it is true. When you total up all forms of debt including government debt, business debt, mortgage debt and consumer debt, we are 59.4 trillion dollars in debt. That is an amount of money so large that it is difficult to describe it with words. For example, if you were alive when Jesus Christ was born and you had spent 80 million dollars every single day since then, you still would not have spent 59.4 trillion dollars by now. And most of...
  • Haven’t paid a credit card for 6 months? [troll aka “foolynyah” zotted]

    06/15/2014 12:50:54 AM PDT · by pansgold · 259 replies
    VI / XV / MMXIV | pansgold
    This advice is worth what you paid for it. You see, after 90 days of not paying on a credit card, the bank charges it off and sells the debt along with hundreds or thousands of others to a collection agency for 1/100th of the value of the original debt. The debt buyer then tries to collect from the debtor and they keep all the money they can collect. They will take you to court and try and garnish your wages for 6 to 8 or 12 years. That’s when you ask the court to force the new debt holder...
  • The U.S. spent $3 million on boats for landlocked Afghanistan

    The United States spent more than $3 million on eight patrol boats for the Afghan police, according to an internal audit released Thursday. That sentence is surprising for a few reasons: 1. Afghanistan is landlocked. 2. Not a single boat has arrived in Afghanistan, even though the purchase was made in 2010. 3. That works out to be more than $375,000 per boat. Similar boats in the United States are typically sold for about $50,000.
  • Education Secretary Arne Duncan: No, we don’t actually know the cost of our student loan program

    06/11/2014 3:10:24 PM PDT · by SeekAndFind · 8 replies
    Hotair ^ | 06/11/2014 | Erika Johnsen
    An unsurprising yet groan-inducing addendum to the empty gestureexecutive order President Obama so magnanimously introduced this week to allow millions of student-loan borrowers to cap their monthly payments at 10 percent of their current income and then be fully forgiven after 20 years — a “favor” to borrowers to lessen their burdens that will, in the long run, only serve to inflate future tuition prices and borrowing costs ever further. I missed this on Monday, but the WFB didn’t:CLICK ABOVE LINK FOR THE VIDEO SECRETARY OF EDUCATION ARNE DUNCAN: We actually don’t know the cost yet. Obviously we have...
  • Top Ten Casualties in Obama’s Wars—To Whom He Won’t Apologize

    06/11/2014 8:52:12 AM PDT · by Kaslin · 9 replies
    Townhall.com ^ | June 11, 2014 | John Ransom
    10) In six short years as president, Obama has taken the Democratic Party from the One to done. While it’s way too early to write off the party even for 2014, the wounds created by supporting this colossal bozo will be even longer to heal than the wounds inflicted by Jimmy Carter. Obama said way more then he knows when he admitted that the problem is he’s president not emperor. 9) Remember when the Fawning News Media said that comedians would have a tough time making fun of Obama because he was so serious, so perfect, so black? Well the...
  • The Wrong Reform on Student Debt: Obama's so-called "Reform" overlooks the real problem

    06/11/2014 7:38:04 AM PDT · by SeekAndFind · 9 replies
    National Review ^ | 06/11/2014 | The Editors
    There are plenty of problems with American higher education: Its price keeps rising rapidly, some qualified students still don’t have access to it, and others end up at institutions for which they are ill suited. President Obama proposed a plan this week to enable existing student-loan borrowers to lower their payments, which addresses none of these concerns. Student debt is a real problem, but the cost of college is a much bigger one, and this is a temporary salve, applied unevenly. A number of federal programs already limit annual payments on recently issued student loans to a certain percentage of...