Category: US Debt
The analysis published under this category are as follows.
Friday, July 16, 2010
U.S. State Budget Debt Crises Threatens Economic Recovery / Economics / US Debt
By: Money_Morning
Don Miller writes: Across the country state budget crises are threatening to undermine the U.S. economic recovery.
Some 48 states are emerging from a round of painful budget cuts for their 2010 fiscal budgets, and at least 46 states face shortfalls for the upcoming 2011 fiscal year, which in most states began July 1.
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Tuesday, July 13, 2010
U.S. Stripped of AAA Credit Rating By China? / Interest-Rates / US Debt
By: Dian_L_Chu
Despite repeated warnings going back several years from Moody's, S&P et al that the U.S. could lose its top credit rating with ongoing fiscal deficits and heavy debts, the platinum-plated AAA rating of the United States seems all untouchable.
Monday, July 12, 2010
China Ratings Agency Downgrades US Debt From Moody's, S&P's, and Fitch's AAA Rating / Interest-Rates / US Debt
By: Jesse
Currency wars. Well at least a Phony War for now. See, nothing has happened. All is well. Move along. Nothing to see here. Status quo intact.
The US sovereign debt gets a stiff downgrade, cut down from number one in the world, to a distant thirteenth place by China's Dagong Credit Rating Agency.
Sunday, July 11, 2010
It’s “Chapter 66” as U.S. States Face De Facto Bankruptcy / Economics / US Debt
By: Justice_Litle
A number of U.S. states are facing bankruptcy – in fact if not in name – with Illinois and California leading the way.
When an individual goes bankrupt in the United States, it’s usually a Chapter 7. When a business goes under, it’s Chapter 11. Farmers have a Chapter 12, and there is a more complex individual option known as Chapter 13.
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Friday, July 02, 2010
The Link Between Public Debt and Private Wages / Interest-Rates / US Debt
By: Adrian_Ash
BETWEEN V.E. Day in 1945 and June 1947, the United States shrank its armed forces from twelve million people to around 1.5 million.
The impact on the economy – and on the US Treasury's then record debts – is hard to overstate...
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Thursday, July 01, 2010
Deficit Terrorism and Economic Warfare as Main Street Slips Into Debt Slavery / Politics / US Debt
By: Ellen_Brown
Wall Street banks have been saved from bankruptcy by governments that are now going bankrupt themselves; but the banks are not returning the favor. Instead, they are engaged in a class war, insisting that the squeezed middle class be even further squeezed to balance over-stressed government budgets. All the perks are going to Wall Street, while Main Street slips into debt slavery. Wall Street needs to be made to pay its fair share, but how?
Monday, June 28, 2010
Fed Credit, Inflation and the Idiots in the Middle / Interest-Rates / US Debt
By: LewRockwell
A whole series of alarms occurred after I got the news, although I lost the source, that “food stamp usage just soared to a new record high” of 40.2 million persons.
This number is alarming in itself because it means that the economy is so bad that more and more hungry people cannot afford to even feed themselves, sort of like teenagers, but with hopefully better manners and dietary choices.
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Friday, June 18, 2010
The Next Catastrophic Bubble to Pop Will Be Private Sector Debt / Economics / US Debt
By: Andrew_Butter
Much is said about the propensity of USA to pile on public debt to try and right the wrongs of the moronic lenders of yester-year ….and the risks that entails, but private sector debt is a much bigger “Elephant” in the Jacuzzi than public sector debt.
Wednesday, June 16, 2010
U.S. Debt Bomb Detonation Expedited by 5 Years / Interest-Rates / US Debt
By: Michael_Pento
A Treasury Department report to Congress last week stated that total U.S. debt will climb to $19.6 trillion by 2015, as opposed to the 2019 date previously estimated. Treasury also estimated that total U.S. debt will top 13.6 trillion this year and would rise to 102% of GDP by 2015 as well. And most astonishingly, the report projected that the publicly traded debt (debt excluding intragovernmental obligations) would rise to $14 trillion by 2015, up from last year’s debt of “just” $7.5 trillion.
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Tuesday, June 15, 2010
The U.S. Federal Government Debt and Deficit - Congressman, Heal Thyself! / Economics / US Debt
By: Paul_L_Kasriel
On one of this past Sunday's morning political talk shows, I heard a congressman say that the runaway federal government spending had to stop. Congressman, sir, although the spending continues to increase, the rate of growth in that spending has slowed enormously. In the 12 months ended May 2010, the accumulated spending by the federal government totaled $3.437 trillion, enough to keep the late Senator Dirksen spinning in his grave for near eternity. Although an admittedly high level, this 12-month accumulated total federal spending was only 2.6% higher than the 12-month accumulated total federal spending for May 2009 (see Chart 1).
Sunday, June 13, 2010
Two Decades Of Debt Induced Greed Unraveling into the Greater Depression / Politics / US Debt
By: James_Quinn
We are currently in the midst of a Fourth Turning. This twenty year Crisis began during the 2005 - 2008 timeframe with the collapse of the housing bubble and subsequent repercussions on the worldwide financial system. It is progressing as expected, with the financial crisis deepening and leading to tensions across the world. It will eventually morph into military conflict, as all prior Fourth Turnings have. The progression from High to Awakening through the Unraveling took from 1946 until 2006. The most treacherous period of the Saeculm is upon us.
Sunday, June 13, 2010
NY State Shell Game - Municipalities Borrow from Pension Fund to make Required Pension Fund Contributions / Politics / US Debt
By: Mike_Shedlock
When it comes to pension funding schemes, NY governor David Paterson and the NY legislature have taken can-kicking to ever increasing levels of absurdity. Please consider State Plan Makes Fund Both Borrower and Lender.
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Saturday, June 12, 2010
Seven U.S. State Pension Plans Out of Money by 2020 / Politics / US Debt
By: Mike_Shedlock
In a system, gone completely loony, pension plans in seven state will be busted by 2020 yet the states keep hiring public workers. Please consider Pension Plans Go Broke as Public Payrolls Expand.
Friday, June 11, 2010
In-Disposable Income and The Long Road out of Debt / Interest-Rates / US Debt
By: HRA_Advisory
The Bank of Canada just doubled its overnight lending rate, to 0.5%, and became the first G8 country to do so since the Crunch. That came after a +6% growth rate in Q1 that brings Canada’s GDP to within 0.4% of its peak valuation, and strong employment gains in April. Of course the loonie dropped nearly a cent against the US$ after the rate hike was announced.
Thursday, June 10, 2010
A Problem for the U.S. Dollar Worse than Debt / Interest-Rates / US Debt
By: Q1_Publishing
$19.6 trillion.
That’s the Treasury Department’s latest estimate of the national debt to reach by 2015.
The debt has many folks concerned, and rightly so. There is, however, a much bigger problem facing the country and the U.S. dollar.
Wednesday, June 09, 2010
Misreading Economic Indicators Leads to Bad Policy / Interest-Rates / US Debt
By: Tim_Iacono
All this talk about how borrowing costs are so low that Washington couldn’t possibly be facing any sort of a debt crisis – that the 3.2 percent yield on the ten-year note is somehow a vote of confidence in policies coming out of the nation’s capitol – makes me think that, just as the insane fixation on a low consumer price index was a major contributor to the financial crisis, signals coming from U.S. debt markets are being similarly misinterpreted today and this may ultimately lead to an even bigger crisis in our not-too-distant future.
Sunday, June 06, 2010
U.S. Federal Debt Hits $13 Trillion Record, As Congress Passes Emergency Spending Bills / Economics / US Debt
By: Videos
The federal government is now $13 trillion in the red, the Treasury Department announced Wednesday. This is the first time the government has fallen so far into debt. Lawmakers and staffers on Capitol Hill have been awaiting the milestone with fascination for more than a week, and its arrival is likely to complicate efforts for Democrats as they try to pass several emergency spending bills this month.
Friday, June 04, 2010
Another War Is Required to Burn $13 Trillion of U.S. National Debt / Politics / US Debt
By: Pravda
The national debt of the United States reached the record level of $13 trillion, which means that every US citizen owes the world $42,000. It seems that the US administration does not seem to care much about the fact. Barack Obama believes that it is the fault of the previous government. Obama stated during his speech at Pittsburg that his administration was not guilty of the enormous national debt. He said that he took office during the time of the crisis, when the economic recession in the country resulted in the creation of a huge hole of $3 trillion in the budget of the country.
Wednesday, June 02, 2010
Welcome to Oakland - The Model City / Politics / US Debt
By: JD_Rosendahl
That title is straight from the City of Oakland’s official website. I have to agree 100% with the City of Oakland, they are The Model City. They are The Model of and for Insanity and stupidity. They are The Model City for financial disaster.
On a May 5th 2010 article (Oakland Faces Pension Costs, Higher Taxes) for the San Francisco Chronicle, Matthai Kuruvila reports, "The City of Oakland faces a budget short fall of $42 million, which will balloon to $58.7 million by June 2011. The City of Oakland owes a back payment of $43 million towards the old Policemen and Firemen retirement system." The Oakland teacher’s union is threatening to strike. Channel 4 new in report, the City of Oakland just approval to send out pink slip notifications to 416 non teacher city workers. As is the case with every municipality, the fiscal year ends June 30th, 2009. It’s just a few weeks away.
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Friday, May 28, 2010
Great News for Your Grandkids About Debt / Interest-Rates / US Debt
By: DailyWealth
Dr. Steve Sjuggerud writes: "Good News for the Grandchildren" was the title of David Einhorn's speech on Wednesday at the Ira Sohn Conference in New York. I was there.
"Are you worried that we are passing our debt on to future generations?" Einhorn began...