Posts tagged as:
Now we know that a whopping 32 states are officially bankrupt, and that apparently, the US government has been engaged in shadow bailouts of these states, i.e., “giving them money under the table.”
In addition, all that money that states borrowed from the Federal government in order to continue to pay unemployment benefits? Now they won’t [...]
{ Comments on this entry are closed }
The Economic Policy Journal recently released a list of U.S. States that are officially bankrupt (i.e., insolvent). These states are receiving SHADOW BAILOUTS from the federal government. As Zero Hedge puts it, “one can only wonder how many other shadow programs are currently in operation to fund states under the table with federal money.” He [...]
-{ Comments on this entry are closed }
Calls have been coming for a while to halt Saturday delivery by the US Postal Service (USPS) in order to cut back on costs, but this hasn’t stopped the USPS from raising pay checks in the meantime (and employee compensation has been estimated to be about 80% of their costs).
Yet just this past Friday, the [...]
{ Comments on this entry are closed }
Thus spake the Congressional Budget Office on the long-term future of American fiscal integrity (or rather, the coming lack of it). As Niall Ferguson reported in his piece for the Financial Times back in February,
“The long-run projections of the Congressional Budget Office suggest that the US will never again run a balanced budget. That’s right, [...]
-{ Comments on this entry are closed }
Unlike some Bloomberg commentators have implied when they said that “we’re all in this mess together,” (ie., if the US goes bankrupt, it’s not just the US’s problem) the rest of the world should not be held accountable for what were originally US administration accounting problems and US I-banking greed which caused the original off-balance-sheet [...]
-{ Comments on this entry are closed }
Some recent news and thoughts:
Merrill-Lynch released a report saying that the U.S. is one of “the ten most vulnerable” economies in the world (read more here: a great article by George Washington). And:
“The United States may be on course to lose its ‘AAA’ rating due to the large amount of debt it has accumulated, according [...]
{ Comments on this entry are closed }
