From the category archives:
by Eric Hammer | FTMDaily Contributing Writer TEL AVIV, Mar 24 – In a move that some right wing bloggers are referring to as “economic terrorism,” a former president of the SEIU (Service Employees International Union), Stephen Lerner, gave a talk at Pace University recently where he proposed a plan to destabilize certain Wall Street [...]
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Submitted by Tyler Durden on 07/09/2010 17:02 -0500 | Zerohedge.com As we close on another week replete with ugly economic data and the usual bizarro counterintuitive market, here is a summary of the 50 most underreported facts about the state of the US economy, courtesy of the Coto report. After reading these it almost makes [...]
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July 2, 2010 By MICHAEL POWELL CHICAGO — Even by the standards of this deficit-ridden state, Illinois’s comptroller, Daniel W. Hynes, faces an ugly balance sheet. Precisely how ugly becomes clear when he beckons you into his office to examine his daily briefing memo. He picks the papers off his desk and points to a [...]
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(Jerry’s Comments: According to the Center on Budget and Policy Priorities, America’s total state budget shortfall equals $128 billion. 46 U.S. states are facing Greek-style deficits. This article points out things are just beginning to unravel.) By Matthew Garrahan in Los Angeles Published: June 27 2010 19:13 | Last updated: June 27 2010 19:13 The [...]
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By Jacob Greber June 18 (Bloomberg) — Former Federal Reserve Chairman Alan Greenspan said the U.S. may soon face higher borrowing costs on its swelling debt and called for a “tectonic shift” in fiscal policy to contain borrowing. “Perceptions of a large U.S. borrowing capacity are misleading,” and current long-term bond yields are masking America’s debt [...]
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By JEFF BATER Concern over the nation’s mounting debt could snarl the passage of President Barack Obama’s proposal to provide more aid to state and local governments hit by the economic downturn. Mr. Obama on Saturday sent a letter to lawmakers calling for swift action to help U.S. small businesses and state and local governments [...]
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June 8 (Reuters) – The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015, according to a Treasury Department report to Congress. The report that was sent to lawmakers Friday night with no fanfare said the ratio of debt to the gross domestic product would rise to [...]
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