US debt tops $9 trillion for first time-Treasury: The U.S. Treasury Department said on Wednesday publicly held U.S. debt breached $9 trillion this week for the first time ever, just five weeks after Congress had raised the statutory borrowing limit.
Federal Liabilities Now Equal $175,000 for Every American: Deficit spending and promised benefits for federal entitlement programs have put every man, woman, and child in the United States on the hook for $175,000, says a new report by David Walker, comptroller general of the United States.
Foreclosures up nearly 100%: :The number of homes entering some stage of foreclosure jumped almost 100% in the third quarter from the same time a year ago and 30% from last quarter
Card Debt a $915 Billion Disaster-in-Waiting : Think the estimated subprime debt load carried by the big international banks is big, at $1 trillion? How about this: Americans now owe nearly as much – a record $915 billion – on their credit cards alone.
The Economic Consequences of Mr. Bush: The next president will have to deal with yet another crippling legacy of George W. Bush: the economy. A Nobel laureate, Joseph E. Stiglitz, sees a generation-long struggle to recoup.
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