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| February 20, 2019

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Worry About Debt? Not So Fast, Some Economists Say

February 19, 2019 |

As the national debt rises, some economists are making a once-heretical argument: The U.S. needn’t be so worried about all of its red ink.
WSJ.com: US Business

National Debt Hits Another New Milestone

February 13, 2019 |

The national debt has passed a new milestone, topping $ 22 trillion for the first time. The Treasury Department’s daily statement showed Tuesday that total outstanding public debt stands at $ 22.01 trillion. It stood at $ 19.95 trillion when President Trump took office on Jan. 20, 2017. The debt figure…
Newser

Nearing retirement and in debt? Now isn’t the time to tap retirement savings.

February 10, 2019 |

Dear Liz: I’m 60 and owe about $ 12,000 on a home equity line of credit at a variable interest rate now at 7%. I won’t start paying that down until my other, lower-interest balances are paid off in about two years. I have about $ 130,000, or about 20%, of my qualified savings sitting in cash right…


L.A. Times – Business

Remember the subprime mortgage mess? $1.2 trillion in risky corporate debt is flashing similar warning signs

January 20, 2019 |

Indebted borrowers increasingly take out high-interest, adjustable-rate loans that are packaged into securities and sold to investors eager for a better rate of return.

Everything’s fine while the economy is growing. But when it slows, those borrowers could default, causing problems to cascade…


L.A. Times – Business

Is it smarter to save for retirement or pay off debt first?

January 20, 2019 |

Dear Liz: I graduated from college in May and began a full-time job in October making $ 36,000. I also do freelance work and receive anywhere from $ 500 to $ 1,000 a month from that. I live at home, so I don’t have to pay for rent or groceries, which really helps. Currently, I have just over $ 18,800…


L.A. Times – Business

I was afraid to tell my partner I had $100,000 in debt. Here’s how we’ve handled it

January 11, 2019 |

The first rule my boyfriend and I made when we started dating seven years ago was that we would be totally honest with each other — about everything. He’s seen me through panic attacks, missed airline flights and hiring a trash removal service to deal with my hoarding. But money has been the hardest…


L.A. Times – Business

TMZ

Kansas City Royals Prospect Brady Singer Pays Off Parents’ Debt for Xmas

December 26, 2018 |

Grab your tissues … this tearjerker’s brought to you by Kansas City Royals prospect Brady Singer who surprised his parents with a VERY expensive gift that’ll earn him an award for Son of the Year. Singer posted this video on Christmas Day ……

TMZ.com

One Couple’s Brutal, Infuriating Story of Debt in America

November 21, 2018 |

Tom and Kate live in quite the neighborhood in a northeastern suburb, surrounded by people “who have seven cars and fly off to Italy for three weeks.” They don’t. They’re broke, or, more accurately, so deeply in debt it’s staggering. In a lengthy interview for Wealthsimple , the couple were granted…
Newser

Parent’s Stole Kids’ Identities, Racked Up Debt, Police Say

November 16, 2018 |

New York State Police say a couple racked up nearly $ 10,000 in unpaid utility bills and credit card debts using the man’s son’s name, destroying his credit rating, the AP reports. Authorities say 44-year-old Thomas Cash and his wife, 39-year-old Alisha Cash, were arrested in Madison County, Alabama, and…
Newser