The Treasury Department released the statement of public debt as of March 31. According to the release, the national debt stood at $12.7 trillion. The statutory limit for public debt is set at $14.3…
Being young has its advantages, but apparently being employed is not one of those. A new study from the Economic Policy Institute shows that people between 16 and 24 years old are 13.5% of…
Ben Bernanke has seen the future and it is filled with an American debt balloon the size of which the world has never seen. The federal government will run out of money for Social Security…
Consumer borrowing dropped in February by 5.6% to an annual rate of $2.45 trillion, according to the Federal Reserve. Revolving credit, a good proxy for credit card debt, dropped by 13.1%. Nearly everyone who looked…
In an age in which government spending is measured in hundreds of billions of dollars, the potential shortfall in California pension plans is shocking. A new study from the Stanford Public Policy Program estimates that…
The ranks of the long-term unemployed, those out of work for over 26 weeks, is likely to increase. In March 2010, 44% of those unemployed were out of work for at least six months, the highest…
If and when the DJIA hits 11,000 it won’t matter much beyond being a round number. The Dow fell below 12,000 in June 2008 and below 10,000 in October of that same year. 11,000…
The March Manufacturing ISM report was better than expected, indicating that the economy is expanding whether job creation is occurring or not. The figures may support the theory that production in the US has improved so much…
A day after the monthly ADP survey showed a private sector job loss of 23,000 compared to a predicted 40,000 gain, employment consulting firm, Challenger Gray, said employers cut 67,611 jobs last month. The…
The consensus estimate among economists is that the BLS will say that the US added 140,000 net new jobs in March. That could bring the unemployment rate down by a tenth of a percent. Most…
The consensus estimates for the March jobs report is that non-farm payrolls improved by 160,000 which would decrease the unemployment rate a one-tenth of a percent or two-tenths. That would be in contrast to…
The need for a new and tremendous belt-tightening by the US government and the costs of the recession to consumers is about to hit like a tidal wave. And the drops in government services to individuals and businesses…
The bailout of Greece has come down to a very few options: 1) Germany can bail Greece out because it is the one European nation that can afford to, 2) Germany will not bail Greece out…
There has been a great deal of speculation that Greece might resign its spot in the Eurozone so that it can use its own currency as a way to handle its debts or perhaps default…
The Social Security Administration wants back the $2.5 trillion its has loaned to the US Treasury. It is no wonder. The agency will have to pay out $29 billion more this year that it…