Content Tagged As debt

1 year 1 month ago

GOP Senator says possible deal on debt limit

A Republican senator says she understands Senate leaders have reached an agreement to avoid a Treasury default and reopen the government after a 16-day partial shutdown. Sen. Kelly Ayotte of New Hampshire made her comments Wednesday as she walked into a meeting of Senate Republicans in leader Mitch McConnell's office....

1 year 4 months ago

Moody's upgrades outlook for US government debt

WASHINGTON (AP) - Moody's Investors Service upgraded the outlook for U.S. government debt to 'Stable' from "Negative" and affirmed the United States' blue-chip Aaa rating. The rating agency cited a surprising drop in the federal deficit - the difference between what the government collects in taxes and what it spends....

1 year 8 months ago

US consumer debt up $16.2 billion in January

WASHINGTON (AP) - Americans stepped up borrowing in January to buy cars and attend school, while staying cautious about using their credit cards. The Federal Reserve says consumer borrowing rose $16.2 billion in January from December to a total of $2.8 trillion. That's the highest level on record. A category...

1 year 10 months ago

GOP official: House to vote to lift debt limit

WASHINGTON (AP) - A Republican official says the GOP-controlled House will vote next week to permit the government to borrow more money to meets its obligations. Full details aren't settled yet, but the move is aimed at giving the government about three more months of borrowing authority beyond a deadline...

1 year 10 months ago

Obama: Debt ceiling fight threatens SS checks

WASHINGTON (AP) - President Barack Obama says Congress' failure to raise the government's borrowing authority would delay payments of benefits to veterans and Social Security recipients. He again warned that he will not negotiate on raising the debt ceiling, aiming to pin the burden of an unprecedented default on congressional...

3 years 1 week ago

Super Committee has yet to make a deal

WASHINGTON (AP) - Despite prodding from President Barack Obama, members of Congress' supercommittee concede no deal is in sight to meet their goal of $1.2 trillion or more in deficit savings over the next decade. With only 10 days remaining before their deadline, the panel remains sharply divided. Despite...

3 years 2 months ago

US stocks slide as Greek debt worries grow

NEW YORK (AP) - Stocks are tumbling as investors worry that Greece won't qualify for a new installment of emergency funds in time to avoid defaulting on its debt. Investors also appear pessimistic about a Federal Reserve policy decision expected Wednesday. The Fed has hinted it might take new...

3 years 2 months ago

Japan's credit drops

Moody's Investors Service says it has downgraded its rating on Japan's debt. The rating service says it lowered the rating because of Japan's large budget deficits and growing government debt. The rating agency cut Japan's rating to AA3 from AA2. The new rating is three notches below Moody's...

3 years 3 months ago

S&P has no regrets on debt downgrade

A managing director at Standard & Poor's says he has absolutely no second thoughts about the credit ratings agency's decision to cut the U.S. debt rating. With global stocks sinking early Monday, S&P's David Beers said on ABC's "Good Morning America" that the agency's decision was based on several...

3 years 3 months ago

Local concerns in debt debate

Decisions being made on Capitol Hill over how to handle the nation's debt have people across the country waiting to see what happens. "I'm very concerned," says Colorado Springs resident Geraldine Webb, a disability insurance receiver. "I do live from month to month," Webb says, and to make...

3 years 3 months ago

Local concerns in debt debate

The House of Representative passed a bill Monday evening, raising the debt ceiling by about $2 trillion dollars and calling for about $2 trillion dollars in cuts over the next decade. The deal will have to pass a vote of the Senate - which is expected Tuesday at noon...

3 years 3 months ago

'No progress' toward debt deal

WASHINGTON (AP) - Senate Majority Leader Harry Reid says there's no deal to break the debt impasse in Congress and no weekend progress has been made as a default deadline approaches. Reid made his comments on the Senate floor after the Republican leader, Sen. Mitch McConnell of Kentucky, said he...

3 years 3 months ago

SC lawmakers take credit for shift in Boehner plan

WASHINGTON (AP) - The five Republicans in South Carolina's congressional delegation collectively are taking credit for pushing House Speaker John Boehner to take a more conservative approach to finding a debt deal. The lawmakers, four of them freshmen, have bonded for months over their conservative ideals, shared religious devotion and...

3 years 3 months ago

Treasury inviting big banks to debt meeting

WASHINGTON (AP) - Executives from the nation's largest banks will have an opportunity Friday to ask Treasury Department officials face to face about what will happen if Congress fails to raise its borrowing limit before next week's deadline. The Treasury invited the 20 largest banks to a meeting to discuss...

3 years 3 months ago

Vote postponed in House over debt plan

WASHINGTON (AP) - House GOP leaders are postponing a vote on a plan to trade more than $1 trillion in spending cuts for an increase in the government's borrowing cap that would be nearly as large. Rep. David Dreier of California says the postponement is because congressional scorekeepers said...

3 years 3 months ago

Americans stressing debt

Last fall, Americans were feeling better about their personal finances. Now they're starting to worry again about how they'll pay off their debts. A new Associated Press-GfK poll says that nearly half the country is experiencing debt stress, which is up 17 percent from November. Grinding unemployment, slow...

3 years 4 months ago

Debt showdown looms

President Barack Obama says he will continue to push congressional lawmakers to reach the largest deal possible to cut government spending and raise the nation's borrowing limit. Obama says he knows his call for a large deal faces resistance. House Speaker John Boehner has said a smaller deal stands...

3 years 6 months ago

Conn. to help inmates pare child-support bills

ENFIELD, Conn. (AP) - Authorities in Connecticut are taking steps to help prison inmates cope with a problem that affects them and inmates around the nation: child-support debts that mount while they're behind bars. The state's Judicial Branch says 36 percent of its open child-support cases involve more than...

3 years 7 months ago

National debt forum happens this afternoon

DENVER (AP) - Some big names are participating in a Denver forum about the national debt. But Colorado's two senators won't join the discussion this afternoon at the University of Colorado in Denver. Democratic Sens. Mark Udall and Michael Bennet invited former Wyoming Sen. Alan Simpson, a Republican. Simpson...

3 years 11 months ago

More elderly in debt with no way out

More and more, seniors on a fixed budget are turning to credit cards to help them through tough times. "They're using it (credit cards) for gasoline, they're using it for food, they're using it for prescriptions, they're using it for co-payments." explains Eileen Doherty, Director of the Colorado Gerintological Society....

3 years 11 months ago

Colo amasses $3.7 bil in unpaid obligations

DENVER (AP) - In its struggles to deliver balanced state budgets over the past 10 years, Colorado has amassed $3.7 billion in obligations it may never pay. That sum includes severance taxes taken from municipalities, funds for tourism promotion and waste tire cleanup, and prison and school bus costs...

4 years 2 months ago

GOP attacks Obama jobs program

GOP leaders are blasting President Barack Obama's long-term jobs proposal, saying the $50 billion plan would only raise federal spending that's already in excess. Obama unveiled the plan Monday at a Labor Day speech in Milwaukee, proposing the billions be spent on roads, railways and runways. Administration officials...

4 years 3 months ago

Buck regrets slam against tea party birthers

Republican Senate candidate Ken Buck is apologizing for his remarks about tea party members who question President Obama's birth certificate. Outside a campaign stop in Crowley in June, Buck used a vulgarity in referring to so-called birthers. In an audio tape, Buck says he wants someone to tell those...

4 years 4 months ago

IMF cancels $268M Haiti debt

The IMF says it has canceled Haiti's $268 million debt and will lend the earthquake-devastated island another $60 million to help it with reconstruction plans. The International Monetary Fund says the decision is part of a plan for long-term reconstruction after the Jan. 12 magnitude-7 quake, which killed as...

4 years 5 months ago

US budget deficit this year: $1 trillion

The budget deficit through the first eight months of the government's budget year is running slightly below last year's record-setting pace. Still, the country on track to record another $1 trillion-plus deficit. In its monthly budget report, the Treasury Department said that the deficit in May totaled $135.9 billion,...

4 years 6 months ago

Economists more upbeat despite deficit woes

A survey of leading economic forecasters predicts the pace of U.S. growth will pick up in the year ahead as consumers and businesses accelerate spending. The assessment being released today by The National Association for Business Economics is more bullish than the last survey in February. The panel of...

4 years 6 months ago

State treasurer addresses Chavez concerns

In light of the scathing audit on the Cesar Chavez School Network, Pueblo City Schools has big concerns about Cesar Chavez Academy's debt. On Wednesday, the state treasurer traveled to Pueblo to address those concerns. Cary Kennedy says the academy owes nearly $15.7 million in bonds, which were used to...

4 years 8 months ago

Budget deficit sets record in February

The government ran up the largest monthly deficit in history in February, keeping the flood of red ink on track to top last year's record for the full year. The Treasury Department said Wednesday that the February deficit totaled $220.9 billion, 14 percent higher than the previous record set...

4 years 9 months ago

President sets up deficit panel

President Barack Obama has announced a new bipartisan commission to take on deficit-reducing responsibilities that Congress has been reluctant to embrace. The move came a day after he touted the $862 billion economic stimulus program. Obama's administration has been taking an increasing amount of criticism for record-high deficits, and...

4 years 9 months ago

Geithner says US credit rating safe despite debt

Treasury Secretary Timothy Geithner says the U.S. government "will never" lose its sterling credit rating despite big budget deficits and a newly increased debt limit that now tops $14 trillion. Geithner says in an interview broadcast Sunday that in times of economic crisis, international investors will continue to buy U.S....

4 years 10 months ago

December budget deficit sets record

The federal budget deficit hit an all-time high for the month of December, and the red ink for the first three months of the current budget year is rising at a more rapid pace than last year's record clip. The Treasury Department said Wednesday that the deficit last month...

4 years 11 months ago

President defending his handling of the economy

With the nation's unemployment rate still running at 10 percent, President Barack Obama takes his defense of his handling of the economy on the road Friday. Despite limited options due to big budget deficits, he's warming to the possibility of a job-boosting bill. Obama has scheduled appearances Friday in Pennsylvania...

5 years 2 weeks ago

Treasury expects debt limit will be hit in December

The Treasury Department expects to hit the government's debt limit in December, two months later than its initial estimate, after scaling back an emergency loan program as the financial crisis abated. Treasury Department officials say they're working closely with Congress to pass the legislation needed to boost the debt ceiling,...

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