borrowing

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On National Debt Front, a 'Hard to Grasp' Number

US has exceeded $34T, a record: 'America just cannot stop borrowing'

(Newser) - In September, the United States broke its national debt record, reaching $33 trillion. Now, just three months later, a new record has been set. CNN Business notes that, per year-end figures released by the Treasury Department last month, our government's debt shot up to $34.001 trillion on Dec....

Today's the Day for an Unwanted Milestone
Today's the Day
for an Unwanted Milestone
THE RUNDOWN

Today's the Day for an Unwanted Milestone

US set to hit borrowing limit on Thursday, spurring what's likely to be a contentious debt-ceiling fight

(Newser) - Today's a milestone day for the Treasury Department, though it's one it had hoped wouldn't arrive. Thursday marks when the United States is expected to hit its $31.4 trillion debt cap, a borrowing limit set by Congress that means Treasury will now have to get creative...

Health Care Costs Sent Americans Into $88B Debt in Last Year

Survey also finds one-quarter of Americans have held off on treatments due to cost

(Newser) - As the Trump administration continues to try to dismantle ObamaCare , with a GOP plan now not expected until after the 2020 election, some sobering statistics have emerged underscoring the necessity for affordable health care. Per the New York Times , a survey released Tuesday by Gallup and the West Health nonprofit...

Feds Hit States With Interest on Unemployment Loans

Tax-free provision ended with first stimulus

(Newser) - With most states already swinging in the recessionary winds, more bad news—many will have to start paying interest on the money they borrow to pay unemployment benefits. When jobless levels hit the unthinkable, with some states seeing 14%-15%, many had to go cap in hand to the feds to...

Congress Ups Nat'l Debt Ceiling to $12.4T

Bill would authorize Treasury to fund gov through Feb.

(Newser) - The Senate voted today to raise the ceiling on the government debt to $12.4 trillion, a massive increase over the current limit and a political problem that President Barack Obama has promised to address next year. The Senate's rare Christmas Eve vote, 60-39, follows House passage last week and...

Crazy Loans Are Back, With a Vengeance
 Crazy Loans Are Back,
 With a Vengeance 
PIK TOGGLE, ANYONE?

Crazy Loans Are Back, With a Vengeance

Companies paying debt with debt have Fed worried

(Newser) - The government's efforts to boost lending, to beat the recession, are inadvertently stimulating a return to wildly risky loans that look sound only if you're wearing rose-colored-glasses. Companies are returning to credit-bubble practices, worrying analysts, including those at the Fed. In one instrument, a "covenant lite" loan, credit is...

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