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80%  
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Keyword: debt

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  • U.S. budget deficit up sharply in October

    11/13/2017 1:55:55 PM PST · by Oldeconomybuyer · 11 replies
    CBS News ^ | November 13, 2017
    WASHINGTON - The federal government began its new budget year with an October deficit of $63.2 billion, up sharply from a year ago. The Treasury Department reported Monday that the October deficit was 37.9 percent higher than the $45.8 billion deficit recorded in October 2016. Both government receipts and spending were up for the month, with receipts climbing 14.3 percent to $235.3 billion, a record for the month of October. The larger spending figure was up a sizable 11.6 percent to $298.6 billion. The deficit for the 2017 budget year, which ended on Sept. 30, totaled $666 billion, up 13.7...
  • Justice’s aviation company wants $4 million helicopter lawsuit to be dismissed [WV]

    11/12/2017 6:56:53 AM PST · by buckalfa · 3 replies
    WVMetroNews ^ | November 12, 2017 | Brad McElhinny
    CHARLESTON, W.Va. — A company owned by Gov. Jim Justice and his family says it wanted to settle a $4 million debt by selling a helicopter, but the lender hasn’t been cooperating. James C. Companies, Justice Aviation — and the governor personally — were sued in the Southern District of New York in September over default on a loan for the companies’ private helicopter. A little more than $4 million is remaining on the loan. The plaintiff, Citizens Asset Finance, wants to foreclose and take back the helicopter. In an answer filed on Friday, lawyers for Justice and his companies...
  • Trump: My accountant says GOP tax bill is going to 'kill' me

    11/08/2017 2:27:43 PM PST · by Oldeconomybuyer · 26 replies
    San Francisco Chronicle ^ | November 8, 2017 | By Mike Moffitt
    President Donald Trump called from South Korea on Tuesday to share with Democrats what his accountant told him about the GOP tax measure, namely that he is "going to get killed in this bill." According to NBC News and other news outlets, the exact quote made by the president as he spoke to 12 Senate Democrats during a phone call was: "My accountant called me and said 'you're going to get killed in this bill.' The deal is so bad for rich people, I had to throw in the estate tax just to give them something."
  • The Disappearing American Grad Student

    11/06/2017 7:59:55 AM PST · by Governor Dinwiddie · 40 replies
    New York Times ^ | November 3, 2017 | NICK WINGFIELD
    There are two very different pictures of the students roaming the hallways and labs at New York University’s Tandon School of Engineering. At the undergraduate level, 80 percent are United States residents. At the graduate level, the number is reversed: About 80 percent hail from India, China, Korea, Turkey and other foreign countries. For graduate students far from home, the swirl of cultures is both reassuring and invigorating. “You’re comfortable everyone is going through the same struggles and journeys as you are,” said Vibhati Joshi of Mumbai, India, who’s in her final semester for a master’s degree in financial engineering....
  • Maduro calls for restructuring Venezuela’s foreign debt

    11/03/2017 5:43:50 AM PDT · by C19fan · 13 replies
    Washington Post ^ | November 2, 2017 | Anthony Faiola
    President Nicolás Maduro on Thursday called for a restructuring of Venezuela’s foreign debt, blaming heightened U.S. sanctions by the Trump administration and potentially signaling a critical new phase in the country’s economic collapse. Maduro stopped short of declaring the kind of broad, messy default that analysts have feared in the oil-producing nation, and he said Venezuela would on Friday make a key $1.1 billion bond payment for its state energy firm, PDVSA.
  • The Ticking Time Bomb That Will Go Off Sooner Than You Think

    11/01/2017 6:17:08 AM PDT · by davikkm · 10 replies
    IWB ^ | Robert Carbery
    Something has been going on this past month that has as usual been lost in the shuffle of other mainstream media prioritized news. Lost in the hysteria around the Vegas shooting (of which we still have many unanswered questions) and Harvey Weinstein and Mueller indicting Manafort and the wacky World Series is the rapid rate of growth of the U.S. national debt during the early months of the Trump administration. In October alone, America’s debt has soared by almost a quarter of a trillion dollars. This is on top of already well over $20 trillion. A monumental story. Lost again...
  • Officials consider bond for quicker I-87

    10/28/2017 5:09:15 PM PDT · by Tolerance Sucks Rocks · 13 replies
    The Elizabeth City Daily Advance ^ | October 1, 2017 | Jon Hawley
    North Carolinians agreed to borrow $2 billion last year to support higher education and infrastructure. Should they borrow a similar amount to more quickly build Interstate 87 and other important roads? Some local officials say yes. For more than a year, Interstate 87 has been a burning issue for elected officials in Pasquotank and surrounding counties. Creating that road from Raleigh to the Virginia state line would cost more than $1.3 billion, based on early estimates, and it could take decades to develop. Just widening U.S. Highway 17 to interstate standards from northern Pasquotank through Camden may cost almost $187...
  • After a historic default, Argentina is a far cry from its past

    10/24/2017 2:54:17 PM PDT · by Jagermonster · 8 replies
    The Christian Science Monitor ^ | October 24, 2017 | The Monitor's Editorial Board
    SHIFT IN THOUGHT   In a world awash in red ink, Argentina’s reforms since 2015 show how attitudes can shift toward excessive debt. The world’s largest economies are awash in red ink, the International Monetary Fund reported in October. And they are hard-pressed to service their debts, which on average amount to more than twice their domestic output. China accounts for much of this global rise in debt. After a leadership reshuffle this week, Beijing may start to finally tackle the problem. But one country in particular, Argentina, has shown how to change attitudes and turn around an unhealthy dependence...
  • Senate passes a budget, moving the GOP closer to tax reform (a $4 Trillion Budget Measure)

    10/20/2017 9:00:15 AM PDT · by SeekAndFind · 24 replies
    CNBC ^ | 10/20/2017 | Jacob Pramuk
    Senate Republicans approved a $4 trillion budget measure Thursday, taking a crucial step toward their goal of passing a tax plan this year. The chamber approved the budget resolution by a 51-49 vote. Sen. Rand Paul, R-Ky., was the only GOP senator to vote against it. Senators will now have to reconcile their budget resolution with a separate one passed by the House. The other chamber could simply choose to pass the Senate budget blueprint. Passing a budget unlocks reconciliation, which enables the GOP to pass a tax bill with a simple 51-vote majority in the Senate. Using the tool...
  • Moody's Warns of 'Likely' Hartford (CT) Default, Decades of Deficits Ahead

    10/19/2017 9:36:34 AM PDT · by matt04 · 30 replies
    Moody’s Investor Service issued a dire warning to lenders Thursday: Hartford will likely default on its debt by November and, if the city does not change course, will run up annual deficits exceeding $60 million through the next twenty years. On Sept. 26, Moody’s downgraded the city’s bond rating to Caa3 from Caa1, reflecting the investor service’s belief that “in the likely event of a default, bondholder recovery will be 65%-80% of principal,” it stated Thursday. Moody’s projects the city’s operating deficits will reach $60 million to $80 million per year through 2036, largely driven by fixed costs, which command...
  • Rascovar: Hogan, king of the road(s)

    10/15/2017 5:16:36 PM PDT · by Tolerance Sucks Rocks · 18 replies
    The Maryland Reporter ^ | September 24, 2017 | Barry Rascovar
    Gov. Larry Hogan never met a highway project he didn’t like. He’s a 1950s type of politician – solve all the state’s transportation gridlock and congestion by paving the countryside with lanes of new concrete.He’s got a $9 billion plan that is a lollapalooza: Let construction giants build and pay for toll lanes on the Capital Beltway and the busy I-270 corridor from the beltway to Frederick – 70 miles of exclusive Lexus lanes – and let those companies reap the toll rewards so they can recoup a staggering $7.6 billion investment (the actual cost is likely to be substantially...
  • It Would Take A 50% Hike in Income Tax to Fund Our Current Deficit

    10/14/2017 12:24:49 PM PDT · by SeekAndFind · 21 replies
    Mauldin Economics ^ | 10/13/2017 | BY JOHN MAULDIN
    Authored by John Mauldin via MauldinEconomics.com,The projected total US debt will be $30 trillion within 10 years, using the CBO’s own numbers. But the CBO also makes the rosy assumptions that there will be no recessions and that GDP will grow at a 4% nominal rate.Now, that’s possible; I'm inclined to haircut it a bit.If you asked me to bet the “over/under” on the debt in 2027, I would bet the over at $35 trillion.After the next recession the deficit will be $30 trillion within 4–5 years and then grow from there at a rate of anywhere from $1.5...
  • The financial collapse of Illinois is accelerating

    10/10/2017 11:47:54 AM PDT · by SeekAndFind · 53 replies
    American Thinker ^ | 10/10/2017 | Thomas Lifson
    John O'Connor of the AP has just broken the news that the unpaid bills of the Great State of Illinois have reached the awe-inspiring sum of $16.5 billion. Illinois is chasing a moving target as it tries to dig out of the nation's worst budget crisis, and a review obtained by The Associated Press shows $7.5 billion worth of unpaid bills – as much as half the total – hadn't been sent to the official who writes the checks by the end of June. Although many of those IOUs have since been paid, a similar amount in unprocessed bills has replaced...
  • The Case For Wiping Out Puerto Rico’s Debt

    10/09/2017 8:50:20 AM PDT · by SeekAndFind · 27 replies
    VALUE WALK ^ | 10/09/2017 | Tom Sanzillo
    Authored by Tom Sanzillo via ValueWalk.com,President Trump, who knows a thing or two about bankruptcy, says Puerto Rico’s public debt should be wiped out. We agree.The commonwealth owes bondholders somewhere on the order of $70 billion, with most of that debt tied to general-obligation bonds, revenue bonds and bonds issued by the Puerto Rico Electric Power Authority (PREPA).Ahead of the wide devastation wrought by Hurricanes Irma and Maria, we were of the view that the commonwealth could manage perhaps 20 to 30 percent of its general-obligation and revenue-bond debt and that PREPA could pay off perhaps 30 percent of...
  • Trump says Puerto Rico's debt will have to be wiped out

    10/03/2017 7:30:31 PM PDT · by 2ndDivisionVet · 106 replies
    CNBC ^ | October 3, 2017 | Leslie Shaffer, Christina Wilke, John W. Schoen and Reuters
    In an interview with Fox News, President Donald Trump said that Puerto Rico's debt will have to wiped out. "They owe a lot of money to your friends on Wall Street and we're going to have to wipe that out. You're going to say goodbye to that, I don't know if it's Goldman Sachs but whoever it is you can wave goodbye to that," Trump said on Tuesday in an interview with Fox News, according to a Reuters report. Trump visited the island on Tuesday, two weeks after Maria destroyed Puerto Rico's entire infrastructure system, leaving nearly 3.5 million residents...
  • Las Vegas Shooter Stephen Paddock Had Recent Large Gambling Transactions

    10/02/2017 10:14:05 AM PDT · by Drew68 · 151 replies
    NBC ^ | 02 Oct 2017 | Pete Williams
    The suspected gunman behind the Las Vegas massacre made several large gambling transactions in recent weeks, according to law enforcement officials. The transactions in Las Vegas by Stephen Paddock were in the tens of thousands, the officials said. It was not immediately clear if those transactions were losses or wins. Paddock's brothers were stunned to learn Monday that their sibling was the suspected perpetrator of the largest mass shooting in modern American history. Eric Paddock of Orlando, Florida, said he had "no idea" why his 64-year-old brother committed the shooting. “Mars just fell into the earth,” he told NBC News....
  • Unlocking billions of dollars of infrastructure funding capacity

    09/28/2017 5:32:33 AM PDT · by Tolerance Sucks Rocks · 16 replies
    The Washington Times ^ | September 13, 2017 | Charles "Skip" Stitt
    The nation’s approach to managing public infrastructure is often inefficient. Best practices, such as life-cycle asset management and preventive maintenance, are rarely a priority. We can, however, unlock billions of dollars of infrastructure funding capacity now trapped in existing assets by improving how we build, operate and finance infrastructure. While experts discuss the size and urgency of our infrastructure needs, the debates focus on how to pay for new infrastructure. The Trump administration has identified public-private partnerships (P3) as a primary strategy. A majority of states and D.C. have statutes allowing P3s. Other countries have also adopted P3s as a...
  • Trump Reminds Puerto Rico of Billions of its Debt to Wall Street That 'Sadly, Must be Dealt With'

    09/26/2017 5:13:03 AM PDT · by sevinufnine · 52 replies
    Daily Mail UK ^ | 9/25/2017 | Daily Mail Reporter
    Trump acknowledged on Twitter late Monday Puerto Rico was 'in deep trouble'. He also wrote that the US unincorporated territory has 'billions of dollars owed to Wall Street and the banks'. Hurricanes Maria & Irma killed 13 people with Maria almost completely destroying telecommunication networks. 'Texas & Florida are doing great but Puerto Rico, which was already suffering from broken infrastructure & massive debt, is in deep trouble,' Trump tweeted. 'It's old electrical grid, which was in terrible shape, was devastated. Much of the Island was destroyed, with billions of dollars owed to Wall Street and the banks which, sadly,...
  • Study: Unfunded Debt 12 Times Higher in Democratic-Run States

    09/23/2017 6:38:51 PM PDT · by ForYourChildren · 5 replies
    LifeZette ^ | 09/19/2017 | Brendan Kirby
    States with liberal one-party control have average liability of $22,214 per taxpayer vs. $1,814 in red states! The nation’s Democratic-controlled states have unfunded debt that is 12 times greater than the burden on taxpayers in states under total Republican control, according to a study released Tuesday. The nonprofit group Truth in Accounting published “Financial State of the States,” which analyzes the public finances of all 50 states. The group found that state governments have accumulated $1.5 trillion in long-term debt nationwide, mostly due to unfunded employee pension and retiree health benefits. In general, the fiscal picture is far worse in...
  • The Federal Reserve is setting America up for economic disaster

    09/19/2017 7:24:05 PM PDT · by Tolerance Sucks Rocks · 75 replies
    The Hill ^ | September 18, 2017 | Armstrong Williams
    I recently had the opportunity to read "The Creature from Jekyll Island" by G. Edward Griffin, a prodigious tome dealing with the circumstances surrounding the creation of the U.S. Federal Reserve System. I was taken aback by some of its provocative assertions. America joined World War I largely to help a few bankers profit off the war (despite a long-standing Monroe doctrine that prohibited our involvement in European affairs) The Bolshevik Revolution of 1917 was supported by international financial interests in order to destabilize Russia and steal the wealth of the Russian people; and So-called "foreign aid" is merely a...