April 10, 2013 |
A bill before the California Legislature to address soaring student loan debt would require high school students to take a personal finance class. ALSO: Photo gallery: Ted Rall cartoons Stumbling into another Korean war Schwarzenegger: California's silent disaster Follow Ted Rall on Twitter @TedRall
December 8, 2012 |
Republicans scoffed when President Obama demanded the power to raise the debt ceiling unilaterally in his first formal "fiscal cliff" offer to the GOP. And at first, I thought he was just staking out an extreme position for negotiating purposes. But Obama said again in the days that followed that he wasn't kidding: He wants the debt ceiling lifted unconditionally . He's right. Washington's finances need fixing, but the debt ceiling is the wrong tool for the job. Worse, it's irresponsible fiscal policy.
February 1, 2011 |
Frank Cavestani and his wife fell behind on their Capital One credit card payments about a decade ago. Their accounts were subsequently closed by the lender, which wrote off about $2,000 in debt they couldn't pay. So it was more than a little strange when the Hollywood couple received a pair of bills from Cap One the other day for a combined $5,195.07 in debt and interest. Stranger still, when Cavestani contacted Cap One, he said a service rep told him the resurrecting of old loans is accommodated by recent credit card regulations approved by the Federal Reserve ?
October 2, 2013 |
You can always identify true ideologues -- their pitch never changes, no matter the weather, political or otherwise. That's the case with Fix the Debt, a lobby group for deficit hawks that's connected umbilically to hedge fund billionaire Peter G. Peterson. As the government shutdown began Tuesday, Fix the Debt issued a call for a renewed focus on " the critical issues of entitlement reform , tax reform, and the nation's unsustainable debt. " See what they did there? At the moment the U.S. government effectively went out of business, they called for cuts in Social Security and Medicare.
September 12, 2011 |
Young people have been invoked over and over during the debate about Social Security, as in, the system is going to be broke by the time they reach retirement age. A young man from Northern California asked a simple question: "Of every dollar I earn, how much do you think I deserve to keep?" Bachmann could be heard off camera, "Oh, I love that question. " Unfortunately, she did not get a chance to answer it. Only one candidate got to address it - Huntsman, who talked about personal tax rates and lowering the corporate tax rate to 25%. "I can tell you that by doing that with our tax code, it will leave you and your generation a whole lot better off," Huntsman said.
July 20, 2012
Re "The fiscal cliff," Editorial, July 18 The Times writes of a deal in Congress on the Bush tax cuts that "assures the public that Washington can put its fiscal house in order. " Therein lies the problem. People think of the government as separate from the governed - the people who pay taxes and feed the machine. It is not Washington's fiscal house; it is the people's fiscal house. It is incumbent on "the people" to understand the consequences of their demands for government support and that it is "we the people" who take the money out of our left pocket and put it in our right pocket.