President Obama projects that the gross federal debt will top $15 trillion this year, officially equalling the size of the entire U.S. economy, and will jump to nearly than $21 trillion in five years' time.
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A World of Debt
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Americans seem relieved that the wrangling over the debt limit is over. 
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US Lawmakers Reach Debt Deal Hours Ahead Of Deadline: President Barack Obama on Sunday… http://goo.gl/fb/aK7vx...
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Global economy: Debt default cloud hangs over US job marketEconomic TimesWASHINGTON: The terrifying prospect of a US debt default has left a cloud over businesses already reeling from the economy's tepid performance, and likely left them reluctant...
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USA debt (credit card bill) put into perspective by showing what 15 trillion dollars looks like.
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LONDON (Reuters) - As euro zone officials tackle the debt crisis, they must weigh the threat of any downgrade of Greek debt ratings to default or selective default, which would add fuel to the contagion (RT @nigroeneveld: Scenarios: Possible impact...
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WASHINGTON (Reuters) - With five days to go before President Barack Obama's deadline for a debt ceiling deal and no agreement in sight, Republicans and Democrats on Monday were crafting a fallback plan (RT @Reuters: Republicans and Democrats craft...
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Dette : la Grèce poussée vers un "défaut partiel" AFP via boursorama, 16/07/2011 (en Français ) → lien La mort dans l'âme, après 18 mois d'une épuisante course contre la montre, la Grèce, acculée par...
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LONDON (Reuters) - The government should cut taxes and the central bank take more steps to pump money into the economy if Britain looks to be heading into a long phase of weak growth, the International (UK should cut taxes, expand QE if economy falters...
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The unemployment rate remains stubbornly high, and D.C. is mired in a debt-ceiling stalemate. But it's not all bad.
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The Associated PressDebt deal or not, weak economy is likely to sufferThe Associated PressWASHINGTON (AP) — No matter how the debt crisis ends, the economy will probably take a hit. The question is how big.
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The Market OracleUS Economy: Weaker Than ThoughtInternational Business TimesThere's no way to hide the unpalatable fact: the US economy, the world's biggest, has stalled and prospects of a slide into recession can't be dismissed, especially if the...
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From
pragcap
By Warren Mosler
The main reason we have a large budget deficit is because of all the tax advantaged savings plans – pension funds, IRA’s, insurance and corporate reserve.
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The French finance minister says Europe needs to send a "strong message" that it will act decisively on the Greek debt crisis.
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Chairman Ben Bernanke conceded Wednesday that the U.S. Federal Reserve could consider additional monetary stimulus if the recent economic weak patch persisted.
The mere hint of a new round of quantitative easing was received by jittery markets like a shot of adrenaline. Equities in Toronto and New York spiked immediately and the price of gold hit a record high, while the recent rally in safe-haven assets eased. “The possibility remains that the recent economic weakness may prove more persistent than expected and that deflationary risks might re-emerge, implying a need for additional policy support,” Mr. Bernanke told the U.S. House of Representatives financial services committee.
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