National Debt

Bill Clinton says if he were president, he would not hesitate to raise the debt-ceiling himself under authority he argues is granted by the U.S. Constitution. The two-term Democrat, who squared off with Republicans during two government shutdowns, contended in an interview Monday that the 14 th Amendment allows for the president to ensure the nation's debt is covered. He said he would “force the courts to stop me.” “I think the Constitution is clear, and I think this idea that the Congress gets to vote twice on whether to pay for [expenditures]

It is a ritual of the vice presidential audition: A contender for the role of running mate tries to profess just enough interest, but not too much. On Tuesday evening at the Reagan Presidential Library, it was Paul D. Ryan's turn to play coy when the Wisconsin congressman was asked whether he would say yes to Mitt Romney. "You know, that's somebody else's decision, months away, and that's a conversation I need to have with my wife before I have it all with you," Ryan told a crowd that filled an auditorium at the hilltop library in Simi Valley.

President Obama is roundly criticized by Republicans for running up the nation's debt. But if a Republican takes the White House, the debt will keep climbing - and perhaps even faster than under Obama's proposed policies, a budget watchdog group said. GOP presidential hopefuls Mitt Romney, Newt Gingrich and Rick Santorum are touting policies that would push the debt beyond current projections - largely because their proposed tax cuts would outweigh spending cuts. Only Ron Paul's plans would begin to sharply decrease the debt, according to a report Thursday from the nonpartisan Committee for a Responsible Federal Budget.

WESTERVILLE, Ohio -- Responding to President Obama's assault on Republicans this week over the cost of student loans, Mitt Romney sidestepped the issue on Friday as he urged young voters to think instead about the burden they will face in repaying the national debt. The presumptive Republican presidential nominee met with students at Otterbein University here in this suburb of Columbus as a counterpoint to Obama's visits this week to colleges in three other battleground states -- Colorado, Iowa and North Carolina.

The Treasury Department confirmed this week that the national debt has surpassed $15 trillion -- that's 15, followed by 12 zeros -- a milestone Republicans have latched on to for a fresh attack on President Obama's fiscal management. The timing could not be more conspicuous, with less than a week left before the super committee's deadline and no deficit-reduction plan in sight. A leading Senate Republican said Thursday his party continues to wait for a counteroffer from Democrats, and charged that Obama has been "AWOL" in the discussion.

Atanacio Garcia isn't waiting for Washington to reduce the national debt. The 84-year-old retired postal worker from San Antonio, a man of simple means and a simple credo, donates $50 a month from his pension, plus whatever he makes from collecting aluminum cans in his neighborhood, to reduce Uncle Sam's IOU. "I'm a believer in our country," said Garcia, an Army veteran who has promised that he will contribute "until the debt is paid off...

If politicians were taxed a penny for every word spoken to the public, we could pay off the national debt before Nov. 3. BARBARA BURBY Garden Grove

Rich people are worried about the economy too. Four of five wealthy investors cite the economy's persistent weakness as their primary financial concern, up from seven in 10 people a year ago, according to a new survey.  Despite the improvement in the economy over the last 12 months, the well-to-do are nervous about everything from the nation's high unemployment rate to rising gas prices, according to the poll by Spectrem Group. What's it take to be considered wealthy?

April 1st is one of my favorite days of the year, a day when being a fool is more forgivable, perhaps, than the rest of the year. This day of pranks, like many other social customs, has its roots in other countries. In this quiz, we'll check how this custom might have taken hold, although you have to wonder whether the researchers might be pulling our leg. Good luck and you know what they say about fools rushing in.... 1. What's another name for April Fools' Day? a. All Souls Day b. All Fools Day c. All Fouls Day d. All Soils Day 2. In Rome, an ancient festival that resembles our modern April Fools' Day was called what?

President Obama is roundly criticized by Republicans for running up the nation's debt. But if a Republican takes the White House, the debt will keep climbing - and perhaps even faster than under Obama's proposed policies, a budget watchdog group said. GOP presidential hopefuls Mitt Romney, Newt Gingrich and Rick Santorum are touting policies that would push the debt beyond current projections - largely because their proposed tax cuts would outweigh spending cuts. Only Ron Paul's plans would begin to sharply decrease the debt, according to a report Thursday from the nonpartisan Committee for a Responsible Federal Budget.

It never fails to amaze how pathetic Uncle Sam is when it comes to balancing the national checkbook. President Obama has given Congress a budget that envisions $3.8 trillion in spending next year -- $901 billion more than the government will take in. "The main idea in the budget is this: At a time when our economy is growing and creating jobs at a faster clip, we've got to do everything in our power to keep this recovery on track," he...

Following is the full text of Indiana Gov. Mitch Daniels' Republican Address to the Nation, as prepared for delivery: “The status of 'loyal opposition' imposes on those out of power some serious responsibilities: to show respect for the presidency and its occupant, to express agreement where it exists.  “Republicans tonight salute our president, for instance, for his aggressive pursuit of the murderers of 9/11, and for bravely backing...

About two years ago I wrote an article saying that despite the lack of evidence, and despite the near-universal belief among economists that it was not a problem, I was worried about inflation. My reason was that I couldn't see how the government could pay off the massive debt it was running up except by inflating at least part of it away. For this, I was widely ridiculed, and I'd like to take this opportunity to claim vindication. That is, I'd like to — but I can't. Inflation has been creeping up the last couple of years — from less than 2% to more than 3% — but that's still pretty low. Nevertheless, I double down: Barring a miracle, there will be a fierce storm of inflation sometime in the next few years, and it will wipe out a big chunk of the national debt, along with the debts of individual citizens and the savings of others.

The GOP-led House began its first full legislative day of the new year by reigniting one of last year's pivotal partisan fights: the debt ceiling debate that helped to define the tea-party -powered majority. The House voted Wednesday to deny President Obama an increase in new borrowing authority - - a largely political exercise that is not expected to curtail federal spending or threaten a federal default. The 239-176 vote fell largely along party lines. Because the measure is expected to stall in the Senate, where Democrats  have control, there is little chance of actually halting the $1.2-trillion debt ceiling increase.

The Republican-led House began its first full legislative day of the new year by reigniting one of last year's pivotal partisan fights: the debt ceiling debate that helped to define the tea party-powered majority. The House voted largely along party lines Wednesday to deny President Obama an increase in new borrowing authority - a political exercise that is not expected to curtail federal spending or threaten a federal default. The tally was 239 to 176. Because the measure is expected to stall in the Senate, which Democrats control, and is opposed by Obama, it is unlikely to prevent a $1.2-trillion increase in the debt ceiling.