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November 13, 2013

Here’s how much it costs Occupy to buy some toxic debts

  • $15M the amount of debt that activists allied with the Occupy movement recently bought and forgave as part of the group’s Rolling Jubilee project.
  • $400k the amount it actually cost for the activists to actually buy up all that debt. So why’d they do it? Simple: Exposure of how debt really works. “Our primary purpose was to spread information about the workings of this secondary debt market,” the group said. source
8:31 // 11 months ago
October 14, 2013
We stand a good chance of defaulting.
U.S. President Obama says on the government shutdown and debt ceiling negotiations between Democrat and Republican parties. 
18:50 // 1 year ago
18:06 // 1 year ago
October 13, 2013
The last 24 hours have not been good.
Senator Bob Corker (R-Tenn) says on the ongoing debate over the debt ceiling and government shutdown in Washington D.C. There has been a back and forth on deals to reopen the government and possibly raise the debt ceiling in the U.S.
12:58 // 1 year ago
September 15, 2013
15:30 // 1 year ago
15:00 // 1 year ago
May 17, 2013
The non-partisan Congressional Budget Office has released a comparison of the budgets offered by President Obama, House Republicans, and Senate Democrats. They’re a lot similar than you’d expect given how much the two parties are at each others’ throats about things like Social Security and taxes, huh? Anyway, for those who enjoy charts and graphs, the CBO’s blog post on its budget projections will not disappoint. (h/t Ezra Klein) source

The non-partisan Congressional Budget Office has released a comparison of the budgets offered by President Obama, House Republicans, and Senate Democrats. They’re a lot similar than you’d expect given how much the two parties are at each others’ throats about things like Social Security and taxes, huh? Anyway, for those who enjoy charts and graphs, the CBO’s blog post on its budget projections will not disappoint. (h/t Ezra Klein) source

17:35 // 1 year ago
February 27, 2013
23:03 // 1 year ago
February 20, 2013
Because the sequester is (and is likely to continue to be) very ill-defined in the minds of most Americans, the politics of it will devolve into a popularity contest between the major players. Which gets us to the fact that Obama is at (or close to) his high-water mark in terms of job approval, while Congress sits in political reporter/used car salesman territory.
The Washington Post’s Chris Cillizza, theorizing that there’s no way possible way Congress can win the sequester battle against President Obama. The thinking here is is based on three premises: One, that Obama believes the sequester ultimately will not be avoided, because Congress is dysfunctional and if they could have struck a deal on these cuts, there wouldn’t have been a sequester to begin with; two, that effects of the sequestered cuts will be felt by many Americans once they come into effect; and three, that Obama is significantly more popular than Congress. Given these three assumptions, it seems reasonable enough to conclude that if the sequester happens, Congress—and the GOP-led House of Representatives—will be blamed by the American public. It’s not a bad theory, though it’s still quite speculative given the assumptions. More information on the sequester here. source
19:32 // 1 year ago
January 23, 2013
Congress punts on debt ceiling: The House of Representatives passed a bill today that extends the nation’s debt limit until May 18th, effectively tabling the issue for another couple of months. This time, the GOP majority didn’t ask for spending cuts in exchange for the increase; rather, it simply demanded that both houses of congress pass a budget before April 15th. Otherwise, per the bill, all members of both bodies will have their salaries withheld (there’s some debate over whether or not this provision is constitutional). Also, while the majority of Republicans did vote for the bill, enough defected that John Boehner had to rally up a couple of Democrats to get it passed. Harry Reid says it’ll fly through the Senate without issue. (Photo credit: AP) source

Congress punts on debt ceiling: The House of Representatives passed a bill today that extends the nation’s debt limit until May 18th, effectively tabling the issue for another couple of months. This time, the GOP majority didn’t ask for spending cuts in exchange for the increase; rather, it simply demanded that both houses of congress pass a budget before April 15th. Otherwise, per the bill, all members of both bodies will have their salaries withheld (there’s some debate over whether or not this provision is constitutional). Also, while the majority of Republicans did vote for the bill, enough defected that John Boehner had to rally up a couple of Democrats to get it passed. Harry Reid says it’ll fly through the Senate without issue. (Photo credit: AP) source

19:31 // 1 year ago