Life the Universe and ....: more economic troubles.

U.S. Headed Toward Bankruptcy, Says Top Budget Committee Republican

By Terence P. Jeffrey

The ranking Republican on the House Budget Committee said the U.S. government is headed toward bankruptcy if it stays on its current fiscal course. Continue

Our $100 Trillion National Debt

By Biby Bill Walkerll W

The "official" debt of the United States is only around $10 trillion dollars as of August 6, 2008. This is a manageable number; we could pay it off in a few decades if we quit buying luxuries like food and clothing, and take a few other minor economy measures. Unfortunately, the "$10 trillion" number was produced by government accounting, which among other things allows one to ignore Social Security, Medicare, and the new prescription drug benefit. This is like ignoring rent, food, and utilities in your household budget… it will lead to a few bounced checks. Our real debt is about ten times higher. Continue

U.S. Headed Toward Bankruptcy, Says Top Budget Committee Republican: The ranking Republican on the House Budget Committee said the U.S. government is headed toward bankruptcy if it stays on its current fiscal course.

Fannie Mae reports $2.3bn loss: The losses come despite Fannie Mae and its fellow government-backed company Freddie Mac being helped by a government bail-out last week that could cost US taxpayers $25bn.

From food bank's chief, insight into hungry U.S. :In January we surveyed our 200 food banks and demand was up 20 percent over last year. We're seeing more and more people visiting food banks for the first time because they've lost their jobs or they're not getting raises. They can't afford vegetables or protein, the essentials of a good diet

Fannie Mae Unveils Loss Of $2.3 Billion

Commodities Fall To Four-Month Low

Fannie And Freddie - Giving Away The Farm

Morgan Stanley Freezes Home-Equity Withdrawals

The Free Fall Of The US Economy

Fannie Loses $2.3B

US Housing Slump 'Worst Since 1930s'

UK Repos Soar 50% To 12 Year High

Mis-Selling 'Safe' Securities - Citi Hit With $7.3B Bill

Supply Gap May Push Oil To $200

RBS Reports First Ever Loss

Debts Worsen At Northern Rock

Here Comes The Credit Crackdown