The perennial political drama over raising the United States’ debt ceiling continues, with consequences of failure just being default and global financial catastrophe. So … same old, same old. Still, though politics has seemingly decided to regard fact-checking (and, maybe, facts) as outdated, this fact is important to remember: despite the bloviating, the debt and Read more
Debt
Mind Your Head: Debt Ceiling Crisis Looms Again
We are now in the early stages of the perennial political melodrama over raising the debt ceiling. If this debate goes as usual, it should look like this: demands will give way to threats and lead to a fiscal cliff and government shutdown and the specter of default and global catastrophe before – whew! – Read more
The Debt: Who Owes and How Will It Affect the Economy?
Debt, simply defined, is an amount of money borrowed by one party from another. Debt is used by many corporations and individuals as a method of making large purchases that they could not afford under normal circumstances. The U.S. government uses debt in the same way, though it hasn’t been as central an issue in Read more