Advertisement
 
YOU ARE HERE: LAT HomeCollectionsGovernment Debt
IN THE NEWS

Government Debt

WORLD
April 30, 2012 | By Henry Chu, Los Angeles Times
ROME — Quiet and bookish, a little colorless, Mario Monti doesn't seem the kind of man to inspire religious epiphanies. But his leadership of Italy in the last five months has moved one leading politician to declare it not just a "miracle," but proof that God exists. Granted, his transformation from mild-mannered technocrat to the man charged with saving Italy has been a bit startling. From a photo op with President Obama in the White House to a whistle-stop tour of Asia to woo foreign investors, Monti is on a tear, busy telling the world that his country is back in business.
Advertisement
OPINION
July 2, 2004 | MICHAEL KINSLEY
The plan was: a $400-billion federal budget surplus this year, and a national debt of $2.1 trillion heading rapidly to zero. That was the plan in January 2001, when President Bush took office. And not just the plan: that was the official prediction of the nonpartisan Congressional Budget Office. Now we have a new plan. Instead of a $400-billion surplus, Bush's budget calls for a $500-billion deficit. The national debt is $4.
WORLD
February 13, 2012 | By Aaron Wiener, Los Angeles Times
As Europe tries to climb its way out of a debt crisis, the continent's largest and strongest economy, Germany, has pushed its neighbors to reduce budget deficits and pledge to keep long-term public spending under control. But with the Eurozone facing a recession, Germany's insistence on austerity — also known as fiscal consolidation — has drawn criticism from those who subscribe to British economist John Maynard Keynes' formula of increasing public spending during economic slowdowns to spark demand and economic recovery, and then reining in spending during prosperous times.
WORLD
February 21, 2012 | By Henry Chu, Los Angeles Times
The massive new bailout approved for Greece early Tuesday should rescue it from immediate bankruptcy. But can the country survive being saved? No matter how you cut it — and plenty is being cut — Greece is still only at the beginning of a long-term retrenchment and reform program that will inflict yet more pain on its people, who have already seen their living standards plummet. The question, analysts say, is whether the country can come out the other side of the process with its democracy, economy and society all intact.
BUSINESS
June 28, 2011 | By David Pierson, Los Angeles Times
Chinese local governments have taken on $1.65 trillion of debt with little regulatory oversight, an official audit found, raising concern about how much of the money will be paid back. Some of the funds raised were improperly funneled into the stock market and the country's overheated real estate sector, according to the first-of-its-kind review by China's national audit office. About half the debt, which was measured as of the end of last year, was incurred after Beijing in 2009 allowed banks to issue a record amount of new credit to stimulate the economy.
BUSINESS
September 25, 2002 | James Flanigan
In the wake of Gov. Gray Davis signing a bill creating the nation's first comprehensive paid family-leave policy, businesspeople are fuming. They accuse him and the California Legislature of saddling them with a continuous series of mandates--regulations that add costs and hobble their ability to turn a profit. In national surveys, meanwhile, corporate executives are branding California "unfriendly" to business. Much of the anger is superficial and irrelevant.
BUSINESS
June 26, 2009 | Brady Dennis
American International Group Inc. said Thursday that it had reached a deal to reduce its debt to the Federal Reserve Bank of New York by $25 billion. The insurance giant, which has received multiple federal bailouts since September, said it would give the New York Fed preferred stakes in two of the company's crown jewels -- Asia-based American International Assurance, or AIA, and American Life Insurance Co., or Alico, which operates in more than 50 countries.
NEWS
September 26, 2013 | By Lisa Mascaro
WASHINGTON - House Republicans are pursuing an all-of-the-above strategy to halting President Obama's healthcare law, using the threat of next week's government shutdown and the need to raise the debt limit in mid-October as leverage in back-to-back high-stakes showdowns with the White House. With the collapse of the GOP strategy in the Senate to stop the Affordable Care Act, the debate shifted Thursday to the House, where Republicans emerged from a closed-door strategy meeting with their commitment to fight the health law undiminished.
BUSINESS
December 1, 2000 | From Times Staff, Reuters
This week's bond market rally accelerated Thursday as U.S. technology stocks sank to new lows and blue-chip shares fell sharply, sending jittery stock investors into the haven of government debt. A spike in weekly jobless claims to the highest level in two years and a report showing Chicago-area manufacturing activity shrank by its widest margin in nearly a decade highlighted a cascade of evidence that the economy is slowing.
NEWS
October 16, 2013 | By Lisa Mascaro and Michael A. Memoli, This post has been updated. See the note below for details.
WASHINGTON -- Congressional leaders, seeking to speed a budget agreement to President Obama's desk, may adopt an unusual procedure in which the House will vote first on a compromise written in the Senate, officials said Wednesday. Having the House take up the budget deal crafted by the top two Senate leaders would limit the ability of tea party-backed senators to slow the bill down when it returned to their chamber. By allowing the House to move first, the parliamentary maneuver also could ease the psychic pain for House Republicans, who will be asked to swallow a deal that they had no hand in crafting and that many oppose.
Los Angeles Times Articles
|