The trend in this nation is worrisome. We are looking at a European style nation where brand new wealth isn't created while older wealth is constantly attacked to the point where it's diminished along with the clout that comes with financial independence.
FICO released a new study that analyzed 10 million credit files to find trends within the student loan industry. The group concluded that the student loan industry is on an unsustainable path (but I think we knew that already).
If you thought Republican presidential hopefuls were insane to refuse to raise their hands during a 2011 primary debate when asked whether they'd support a deficit reduction deal with $10 in spending cuts to $1 in tax increases, look at Washington today.
All those Americans who hoped that in victory a magnanimous President would move toward reconciliation of a divided people were bitterly disappointed by Barack Obama’s inaugural speech.
“I plan to say some things that may challenge your assumptions,” warned Louisiana Governor and rumored 2016 contender Bobby Jindal. “You may not agree with all of it, but that’s ok, ours is a party that can handle real discussions.” Challenge accepted, Governor.
Politicians can say 'no' to spending only when the proposal is meant as a joke - and don't count on that being a consistent principle. Politicians have every intention to continue to spend, spend, spend.
Almost a decade ago, Europeans and many progressive Americans were lamenting how the United States was going to miss out on the 21st-century paradigm symbolized by the robust European Union.
"You don't have to be a deficit hawk to be disturbed by the growing gap between revenues and expenses," said Sen. Barack Obama during a Nov. 3, 2005, debate on the Senate floor.
Last week, Atlanta Mayor Kasim Reed cited the need to use hard and soft politics in governing the city. "We are making hard decisions again and again that allow us to show compassion," the Democrat told a luncheon held by the Atlanta Press Club. "Because you can't help other people if you're broke yourself."
Just because the sequestration cuts are bad doesn't mean the defense budget should be sacrosanct.
Enter the $1 trillion coin.
The latest horror movie from Washington -- “The Fiscal Cliff” -- finally came to an exciting end in the early hours of 2013.
When President Barack Obama was re-elected, the winds waned behind many patriots' ships' sails. My wife, Gena, and I felt that sock in the gut for our country and posterity, too. But instead of cowering in defeat, I believe we need to discard conventional (unsuccessful) strategies and advance in new directions.
As 2012 ends, the Greek debt crisis continues. In December, the Greek government began restructuring its debt for the second time this year.