Category: State Government Crisis

March 24, 2011 Category: State Government Crisis

Former Union Official Threatens “Economic Terrorism”

by Eric Hammer | FTMDaily Contributing Writer TEL AVIV, Mar 24 – In a move that some right wing bloggers are referring to as “economic terrorism,” a former president of the SEIU (Service Employees International Union), Stephen Lerner, gave a talk at Pace University recently where he proposed a plan to destabilize certain Wall Street […]

February 18, 2011 Category: State Government Crisis

FTMDaily News Update – Silver Prices Set to Explode

Silver Price Set to Explode… Silver is shining brightly as investment demand for the metal shot up this week, driving the price to a new 31 year high. Returns for the week should be about 8%…

July 13, 2010 Category: State Government Crisis

The 50 most unbelievable facts about the U.S. economy

As we close on another week replete with ugly economic data and the usual bizarro counterintuitive market, here is a summary of the 50 most underreported facts about the state of the US economy, courtesy of the Coto report.

July 5, 2010 Category: State Government Crisis

Illinois Stops Paying Its Bills, but Can’t Stop Digging Hole

CHICAGO — Even by the standards of this deficit-ridden state, Illinois’s comptroller, Daniel W. Hynes, faces an ugly balance sheet. Precisely how ugly becomes clear when he beckons you into his office to examine his daily briefing memo.

June 28, 2010 Category: State Government Crisis

US state budget crises threaten social fabric

The small southern California city of Maywood has hit on a unique solution to its budget crisis. Crushed by the recession and falling tax revenues, the city is disbanding its police force and firing all public sector employees.

June 18, 2010 Category: State Government Crisis

Greenspan Says U.S. May Soon Reach Borrowing Limit

By Jacob Greber June 18 (Bloomberg) — Former Federal Reserve Chairman Alan Greenspan said the U.S. may soon face higher borrowing costs on its swelling debt and called for a “tectonic shift” in fiscal policy to contain borrowing. “Perceptions of a large U.S. borrowing capacity are misleading,” and current long-term bond yields are masking America’s debt […]

June 14, 2010 Category: State Government Crisis

Obama Requests Another $50 Billion in State and Local Aid

Concern over the nation’s mounting debt could snarl the passage of President Barack Obama’s proposal to provide more aid to state and local governments hit by the economic downturn.

June 9, 2010 Category: State Government Crisis

Economist Mag: "Longer-term Issues for America Are Really, Really Serious"

June 8, 2010 Category: State Government Crisis

U.S debt to rise to $19.6 trillion by 2015

The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015, according to a Treasury Department report to Congress.