Tag Archives: debt

Deficit Debates vs. Jobs Report-Left Hook and Right Cross to the US Economy

By Jack Rasmus July 27, 2011 COMMENTARY: While everyone is focusing on the August 2 debt ceiling default deadline looming behind the current deficit cutting debates in Congress, the real blow to awareness how weak the US economy is today may come with the date of August 6 quickly to follow. That’s when the July jobs report is released. July and certainly August reports will reveal the depth of the deteriorating jobs crisis that this writer ... Read more

Interest Payments Are At Historic Lows, Paying Debt is Not the Problem

In this interview on Real News, Robert Pollin makes the point that interest payments on U.S. debt well below average because the cost of money is so inexpensive.  As a result there is no immediate debt crisis, there is time to deal with long-term debt. <iframe width=”640″ height=”390″ src=”http://www.youtube.com/embed/SIK9HilJa7s” frameborder=”0″ allowfullscreen></iframe>   Read more

China warns U.S. debt-default idea is “playing with fire”

By Emily Kaiser Reuters, June 8, 2011 (Reuters) – Republican lawmakers are “playing with fire” by contemplating even a brief debt default as a means to force deeper government spending cuts, an adviser to China’s central bank said on Wednesday. The idea of a technical default — essentially delaying interest payments for a few days — has gained backing from a growing number of mainstream Republicans who see ... Read more