Tag: debt
Five Simple Steps to Reduce Your Debt
According to the Federal Reserve, total consumer debt (mortgage, credit card, auto and other) totals $12.7 trillion, or roughly 99 percent of disposable personal income. Of this, revolving debt is just shy of $1 trillion, most of which is credit card debt. One more stat: for households that carry a balance on their credit cards, […]
Economics and the Debt Ceiling
Lately, there has been a lot of public hand wringing about the debt ceiling, or the legal limit on how much Congress can borrow. Essentially, they’ve reached the limit and since Congress borrows about 43 cents for every dollar spent, they need to raise the ceiling in order to fund the current operations of the […]
