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TUESDAY, NOVEMBER 24, 2009
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NEWS ABOUT: government debt

government debt stories: 2 news summaries

Debt-Happy US Faces Payback Time as Rates Rise

Cost of debt to skyrocket $500B in next 10 years

Nov 23, 09 7:29 AM CST
(Newser) - Like a homeowner heading for mortgage default as interest rates rise, the US is heading for a nasty shock as cheap national debt suddenly becomes much more expensive. The White House estimates that the cost of servicing our $12 trillion debt will be more than $700 billion a year by... More »

MORE ABOUT:
national debt • mortgage defaults • financial crisis • government debt • debt payment

(Newser) - Some 50 US cities are so strapped for money that they're ditching their July 4th fireworks displays, reports the Los Angeles Times. "It came down to this: Did we want to spend $150,000 on something that would be over in a few hours?" asked the mayor of a... More »

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Ohio • Massachusetts • debt • fireworks • cities • Fourth of July • fiscal crisis • government debt

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