Tag Archives: us debt

Goodspeed: Adapting the U.S. forces for a frugal era

Over the next two months, tens of thousands of U.S. troops in Iraq will pack up their gear and head home, ending nine years of war and a painful era of American history. Under the terms of a 2008 bilateral … Continue reading

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Blumer: Three Years, $4 Trillion, and ‘All the Right Choices’ Later

On October 14 (a Friday, naturally), Tim Geithner’s bunch released the final Monthly Treasury Statement of the 2011 fiscal year. It showed that for the third consecutive year, the federal government’s reported deficit was well over $1 trillion — $1.298614 trillion, … Continue reading

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Once prosperous New Yorkers forced to live under canvas in New Jersey woods

The white picket fence and manicured flowerbeds outside 1 Paradise Lane are straight from a picture postcard of idyllic suburban American life in the 1950s. But its walls are no more than canvas. Its porch overlooks smouldering bonfires and scrawny … Continue reading

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Moody’s downgrades 3 of largest U.S. banks (4)

Moody’s Corp cut the debt ratings of Bank of America Corp, Wells Fargo & Co and Citigroup Inc on Wednesday, saying the U.S. government is getting less comfortable with bailing out large troubled lenders. The government is “more likely now … Continue reading

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U.S. Debt Held by Public Tops $10T for 1st Time—Up 59 Percent Under Obama (4)

(CNSNews.com) – At the close of business on Aug. 31–for the first time in the history of the country–the publicly held debt of the federal government topped $10 trillion, according to data released by the U.S. Treasury Department at 4:00 … Continue reading

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Postal Service Is Nearing Default as Losses Mount

The United States Postal Service has long lived on the financial edge, but it has never been as close to the precipice as it is today: the agency is so low on cash that it will not be able to … Continue reading

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Hanson: Atlas Is Sorta Shrugging

“They Did It!” The president just concluded a frenzied “jobs” bus tour to explain why unemployment is at 9.1% — after borrowing nearly $5 trillion in stimulus the last three years. You know the usual suspects responsible for our, not … Continue reading

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Jonas: Spending yourself rich didn’t work, after all (1)

New York, London, Cairo, Athens. Markets are shaking, governments are falling, people are rioting. Goodness gracious, what’s going on? Well, it’s possible that what the economist John Maynard Keynes predicted will happen to us all in the long run, is … Continue reading

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Palin: Conquering the Storm (2)

In the coming days we’ll sort through the repercussions of S&P’s downgrade of our credit rating, including concerns about the impact a potential interest rate increase would have on our ability to service our suffocating $14.5 trillion debt. I’m surprised … Continue reading

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Moran: China – The ‘good old days’ of borrowing for US are over

This is hardly “inscrutable” from the usually opaque Chinese. It is a direct, straight from the shoulder overhand right to the jaw and warns of future miseries for the US economy. Reuters: China bluntly criticized the United States on Saturday … Continue reading

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S&P downgrades U.S. credit rating (9)

NEW YORK — The United States lost its top-notch AAA credit rating from Standard & Poor’s on Friday in an unprecedented reversal of fortune for the world’s largest economy. S&P cut the long-term U.S. credit rating by one notch to … Continue reading

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