A new report by the Urban Institute and Encore Capital Group’s Consumer Credit Research Institute shows 77 million Americans– 35 percent of those with files at a major credit bureau– have a debt in collection.
|By: Peter Van Buren Tuesday July 29, 2014 12:09 pm|
|By: Jordan Melograna Wednesday June 4, 2014 5:43 pm|
Many people think that debtor’s prisons disappeared from American society just as surely as horse-based transportation. But in fact, people who are too poor to pay fines are still being threatened with incarceration today, but with an all too familiar twist: private companies are making money off people who can’t pay.
|By: DSWright Friday March 28, 2014 2:00 pm|
As US student debt soars to the $1 trillion mark researchers are finding that the phenomenon is having long term deleterious effects on society. Namely the increases in student debt is widening the already massive wealth gap in America.
|By: letsgetitdone Sunday March 9, 2014 1:05 pm|
If we focus on Peterson’s faux problem and implement the policies that he and his allies advocate, then all that awaits us is austerity, periodic deeper and deeper recessions, and eventually a war of all against all, accompanied by lives that will be “nasty, brutish and short.”
|By: letsgetitdone Friday February 21, 2014 5:40 pm|
Why is it that Washington village “progressives,” and their associates in other parts of the country who are nevertheless part of the Washington village culture, often ask useful questions, but, almost always deliver, underwhelming answers?
|By: letsgetitdone Thursday February 20, 2014 3:55 pm|
On Valentine’s Day, Senator Bernie Sanders sent a letter to the President, authored by himself and signed by 15 other Senators, all Democrats. The letter was a response to the rumors that the President intends to include his Chained CPI proposal to cut Social Security benefits in the budget he will soon send to Congress.
|By: letsgetitdone Saturday February 15, 2014 11:15 am|
Paul Krugman can’t explain why the deficit issue has suddenly dropped off the agenda.
|By: DSWright Tuesday October 15, 2013 11:59 am|
The truth is the US government has already defaulted on promises it has made to its own employees and the damage to America’s reputation or credit from even flirting with a default are severe. The rest of the world has taken notice of the incredible political instability in Washington and faithfully begun planning to create a new world financial order that does not grant the US such privileges.
|By: Dean Baker Sunday August 25, 2013 8:45 am|
Those who hoped that Jeff Bezos takeover of the Washington Post would lead to a quick improvement in the quality of its budget reporting will be seriously disappointed by the paper’s lead story today. The story bemoaned the fact that, “after six budget showdowns, big government is mostly unchanged [the article's headline].”
The article uses four metrics to measure the size of government, none of which would inform readers of anything.
|By: Robert Kuttner Sunday August 18, 2013 1:59 pm|
By now, it’s been thoroughly proven by events that austerity policies backfire. Cut public spending in a deep downturn, and you only worsen the slump. Europe is the more extreme version of the proof, but even the United States, which is technically out of recession, faces a needlessly slow recovery. We’ve reduced deficits by slashing spending, raising taxes, and making sequester deals, but the supposed reward in the form of restored business confidence never arrives. Austerity, as Mark Blyth writes, neither restores growth not reduces the debt ratio, because slow growth (and in some cases negative growth) makes the debt loom that much larger.