Debt

5:24am

Sun September 9, 2012
Economy

Shaping The Economic Future: 4 Big Ideas

Originally published on Mon September 10, 2012 10:02 am

Transcript

LINDA WERTHEIMER, HOST:

Over the last month, WEEKEND EDITION has been talking to top economists about jobs, growth, debt and taxes. But we also ask them a broader question: What is the one big idea in economics that's really caught your attention lately?

NOURIEL ROUBINI: Ideally, I would like the economists to become boring again.

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11:44am

Wed August 29, 2012
Planet Money

Household Debt : Falling. Slowly.

New York Fed

The New York Fed just put out its latest report on household debt. It's a good, quick-ish look at the debt picture for ordinary Americans. Here's the key graph:

It shows:

* Household debt is overwhelmingly about mortgages.

* Mortgage debt shot up during the housing boom, and has slowly — slowly — been falling for the past several years.

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8:16am

Wed August 22, 2012
The Two-Way

Deficit To Total $1.1 Trillion, Unemployment To Stay Above 8 Percent, CBO Says

Originally published on Wed August 22, 2012 8:33 am

Expect to hear about this from the campaign of Republican presidential contender Mitt Romney as he continues to take aim at President Obama's record on the budget and the economy:

The Congressional Budget Office reports this morning that "for fiscal year 2012 (which ends on September 30), the federal budget deficit will total $1.1 trillion ... marking the fourth year in a row with a deficit of more than $1 trillion."

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1:58pm

Tue August 7, 2012
Planet Money

Episode 273: When The U.S. Paid Off The Entire National Debt

Originally published on Wed August 8, 2012 12:35 pm

Phil Dokas Flickr
  • Listen to the Episode

On Jan. 8, 1835, all the big political names in Washington gathered to celebrate what President Andrew Jackson had just accomplished. A senator rose to make the big announcement: "Gentlemen ... the national debt ... is PAID."

That was the one time in U.S. history when the country was debt free. It lasted exactly one year.

On today's Planet Money: The legend of the national debt. Where the debt came from, what happened the one time we paid it all off, and why Congress created the debt ceiling in the first place.

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4:42pm

Tue June 12, 2012
Your Money

Credit Card Debt Cut: The Reason May Surprise You

Originally published on Tue June 12, 2012 5:17 pm

iStockphoto.com

A Federal Reserve study showing that Americans lost wealth in the Great Recession turned up another, perhaps more surprising, result: Credit card debt fell sharply.

"The percentage of families using credit cards for borrowing dropped over the period; the median balance on their accounts fell 16.1 percent" between 2007 and 2010, the report concluded.

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