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Keyword: debt

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  • Teacher pay averages $84,489; LAUSD data missing

    07/29/2014 7:10:04 PM PDT · by TurboZamboni · 18 replies
    contra costa times ^ | 7-25-14 | Thomas Himes
    A newly released survey of 653 of California’s 1,058 school systems reports teachers were paid on average $84,489, while 33 administrators earned more than $250,000 in pay alone last year. The pay and compensation information was complied by The California Policy Center, a nonpartisan conservative public policy think tank that runs Transparent California, which posted the survey for the public to review at transparentcalifornia.com “We’re doing this because the public employs the public sector; and members of the public, as voters are being continually asked to approve tax increase and bond measures,” Policy Center Director Ed Ring said. “You can’t...
  • Debt servants: how sustainable are states’ legacy costs?

    07/29/2014 6:58:16 PM PDT · by TurboZamboni · 7 replies
    public sector inc ^ | 7-27-14 | Iliya Atanasov
    A recent report by JP Morgan’s Michael Cembalest provides a fresh look at the problem of state indebtedness. Cembalest, global head of investment strategy, is best known for his writings on housing and for flagging Bernard Madoff’s fund and refusing to invest in it, even while other divisions at JPMorgan gleefully did so. Cembalest looks at state governments’ annual payments towards bonded debt interest and retirement liabilities (defined-benefit and defined-contribution pensions as well as retiree healthcare benefits) expressed as percentage of total annual revenue. In addition to assessing states’ default risk, this approach quantifies exactly how much debt expenditures are...
  • Study: More than 35 percent of Americans are facing debt collectors

    07/29/2014 9:25:40 AM PDT · by SeekAndFind · 24 replies
    The Week ^ | 07/29/2014 | Meghan DeMaria
    A study released by the Urban Institute on Tuesday found that more than 35 percent of Americans have unpaid bills and debt that has been reported to collection agencies.The debts surveyed include everything from gym memberships to auto loans. The study, which looked at records from September 2013, found that 35.1 percent of people with credit records had been reported to collection agencies. The average debt was $5,178.The Associated Press notes that while America has decreased its credit card debt, the percentage of Americans in collections has remained roughly the same. In 2004, a Federal Reserve study found that 36.5...
  • 1 in 3 U.S. adults have 'debt in collections'

    07/29/2014 8:00:25 AM PDT · by TigerClaws · 41 replies
    An estimated 1 in 3 adults with a credit history -- or 77 million people -- are so far behind on some of their debt payments that their account has been put "in collections."
  • GM Debt Climbs to Over $40 Billion, Earnings Disappoint

    07/24/2014 8:17:25 AM PDT · by jazusamo · 34 replies
    NLPC ^ | July 24, 2014 | Mark Modica
    General Motors reported earnings today for the 2nd quarter of 2014. The early prognosis is not good with share price falling after the report. While it is difficult for the Mom and Pop investor to sort through GM's myriad of one-time charges, special items and various smoke and mirrors, there are some key take-aways that give a glimpse of GM's financial health. Primarily, debt continues to grow at the company, now exceeding $40 billion while earnings are propped up by special items. Analyzing the levels of cash compared to debt at GM is probably the easiest way to get to...
  • Clash over campus cards

    07/23/2014 3:52:07 AM PDT · by Cincinatus' Wife · 7 replies
    The Hill ^ | July 23, 2014 | Benjamin Goad and Megan R. Wilson
    The issue plays into the president’s agenda of protecting students and providing an affordable college education — issues the administration also hopes will drive Democrats to the polls in November. The financial industry is clashing with the Obama administration over forthcoming regulations that are intended to protect college students from excessive bank fees. Still in its early stages, the proposal would extend the Education Department’s regulatory authority to deposit accounts opened under arrangements between universities and financial firms that adopt “campus cards,” critics say. The agency reasons that its jurisdiction includes those accounts, since they often serve as receptacles for...
  • CEO of the US, politicians need NOT apply

    07/21/2014 1:31:21 PM PDT · by simka · 111 replies
    self
    We do not need Hillary or Warren or any career politician. We do not need another leader in debt to big business, financial backers or his party agenda. We do need someone truly independent of all political pressures, capable of resolving all the damage done to this country. The names that come to mind are Ben Carson, Mitt Romney and maybe Ted Cruz. What say you all?
  • How to destroy the U.S., one step at a time

    07/21/2014 7:31:40 AM PDT · by BlatherNaut · 17 replies
    Boston Herald ^ | 7/21/14 | Holly Robichaud
    One of our distinguished Massachusetts U.S. senators, Daniel Webster, once said, “There is no nation on earth powerful enough to accomplish our overthrow. Our destruction, should it come at all, will be from the inattention of the people to the concerns of their government.” While people are more concerned with the latest binge-worthy television show or the newest game on their iPad, are they missing the destruction of the United States? How would you do it from within? The first step would be to jeopardize the country’s financial stability. Increasing the national debt by $7 trillion is a good starting...
  • Social Security Disability: What Happens When It Runs Out of Money?

    07/17/2014 3:05:46 PM PDT · by TurboZamboni · 39 replies
    motley fool ^ | 7-6-14 | Dan Caplinger
    Social Security helps not only retirees but also roughly 9 million of people suffering from disabilities. Unfortunately, the trust fund that covers disability payments is in even worse financial condition than the trust fund that covers retirement benefits. What will happen when the disability program's trust fund runs out? In the following video, Dan Caplinger, The Motley Fool's director of investment planning, talks about the two Social Security trust funds, noting that the latest estimates give the retirement trust fund about 20 more years before it runs out of money, but the disability trust fund is slated to be used...
  • CBO -- We're on the road to (fiscal) Perdition, and ObamaCare is hitting the gas pedal

    07/16/2014 5:02:03 AM PDT · by IBD editorial writer · 7 replies
    Investor's Business Daily ^ | 07/15/2014 | IBD Staff
    Debt: No sooner had the White House crowed about a smaller deficit than the Congressional Budget Office reported that the country is headed toward fiscal ruin driven by excessive spending, much of it the result of ObamaCare. Last Friday, in announcing the release of the administration's updated budget numbers, the acting White House budget director bragged that the deficit is undergoing "the most rapid sustained deficit reduction since World War II, and it continues to fall." What he didn't say is that it fell from all-time highs produced by Obama's spending spree. Or that deficits will soon stop falling and...
  • Social Security To Go Bust By 2030: CBO

    07/15/2014 3:53:18 PM PDT · by Oldeconomybuyer · 43 replies
    Investors Business Daily ^ | July 15, 2014 | By JED GRAHAM
    The $2.8 trillion Social Security Trust Fund is on track to be totally spent by 2030, the Congressional Budget Office said Tuesday. That's one year earlier than projected in 2013 and a decade earlier than the CBO estimated as recently as 2011. The CBO delivered the warning in a gloomy long-term budget outlook that shows federal debt reaching 106% of GDP in 25 years, up from 74% now.
  • CBO says US deficit levels are unsustainable

    07/15/2014 3:31:18 PM PDT · by Oldeconomybuyer · 14 replies
    The Hill ^ | July 15, 2014 | By Bernie Becker
    Congress’s nonpartisan budget watchdog warned Tuesday that U.S. entitlement programs would drive the country’s debt to unsustainable levels in the coming years. The federal debt is now 74 percent of the nation's gross domestic product (GDP), the Congressional Budget Office (CBO) said in its latest long-term budget outlook, a product of the outsized budget deficits the U.S. recorded following the 2008 fiscal crash. That figure is already twice the debt level held in 2008, and matched in U.S. history only by a brief span after World War II. But CBO also projects that the public's share of debt will increase...
  • There Are Now 50 Colleges That Charge More Than $60,000 Per Year

    07/10/2014 8:23:56 AM PDT · by SeekAndFind · 25 replies
    Business Insider ^ | 07/10/2014 | Peter Jacobs
    As the average cost of higher education in America continues to rise, at least 50 American colleges and universities are now charging students more than $60,000 per year. We found these numbers by examining the average cost of tuition, fees, room, and board that an incoming student would face over the 2014-15 academic year. Check out a more in-depth breakdown of the 20 most expensive colleges here >>While these direct costs are a significant portion of the total cost of college, they alone do not reveal the true financial burden of higher education — students are also responsible for paying...
  • Government made $100B in improper payments

    07/09/2014 5:18:27 AM PDT · by TurboZamboni · 6 replies
    Pioneer Press ^ | 7-8-14 | Stephen Ohlemacher
    WASHINGTON (AP) — By its own estimate, the government made about $100 billion in payments last year to people who may not have been entitled to receive them — tax credits to families that didn't qualify, unemployment benefits to people who had jobs and medical payments for treatments that might not have been necessary. Congressional investigators say the figure could be even higher. The Obama administration has reduced the amount of improper payments since they peaked in 2010. Still, estimates from federal agencies show that some are wasting big money at a time when Congress is squeezing agency budgets and...
  • Argentina Is Getting Exactly What It Deserves

    07/03/2014 9:41:28 AM PDT · by blam · 20 replies
    Bi ^ | 7-3-2014 | Linette Lopez
    Linette LopezJuly 3, 2014Argentina has its back against a wall. On July 30 it may default on a sovereign-debt payment that could send its economy into a tailspin of rising interest rates, money printing, and inflation. It could be the worst economic tragedy the republic has seen since 2001. And the tragedy will be well deserved, because this is a drama of Argentina's own making, a figment of political imagination tied closely with its history and culture. In Argentina, debt is identity, and this specific over-$1.3 billion debt in question, purchased by a group of hedge fund managers back in...
  • Archdiocese of Philadelphia sells nursing homes for $145 million

    07/03/2014 8:46:09 AM PDT · by Welchie25 · 27 replies
    Catholic Review ^ | 7/3/14 | Lou Baldwin
    The Archdiocese of Philadelphia announced July 1 that it is selling six nursing homes and one assisted living facility operated by archdiocesan Catholic Health Care Services to a Flushing, New York, health care management company for $145 million. The company, Center Management Group, owns and operates 15 nursing homes in New York and New Jersey. Under the agreement, the company has pledged to maintain the Catholic character of the nursing homes. The date for the sale has not been set. The $145 million sale price for the nursing homes will be decreased by certain obligations under the terms of the...
  • Moody's pushes Puerto Rico debt deep into junk status

    07/01/2014 2:58:11 PM PDT · by george76 · 13 replies
    AFP ^ | 01 July 2014
    Ratings company Moody's on Tuesday slashed Puerto Rico's debt rating by three notches into even deeper junk status after the US territory passed a debt-restructuring law. Moody's Investors Service cut the rating to "B2" from "Ba2" and said the outlook was negative, indicating further downgrades were possible. Now dubbed the "Greece of the Caribbean," the archipelago is, like Greece, reeling under massive debt. Over the past decade, the commonwealth's debt has doubled to nearly $70 billion and investors are growing increasingly worried the government is running out of cash. In a bid for debt relief, the Puerto Rican authorities recently...
  • Deficits Are Scary, But Spending Cuts Are Even Scarier

    07/01/2014 7:30:54 AM PDT · by SeekAndFind · 49 replies
    RCM ^ | 07/01/2014 | Ron Haskins
    It has been clear for at least a year that the focus of the nation on reducing the federal debt has vanished. The speeches of policymakers, the House and Senate legislative agendas, the content of the nation's debate forums, and the rhetoric of President Obama are all virtually silent on the nation's debt. You would think that the debt problem had been solved. But perhaps the most remarkable aspect of the intense, three-year focus on the debt that featured bitter inter-party battles and closing of the federal government while producing several laws that reduced the nation's debt in the short-term,...
  • O’Toole: Why is Congress still running the transportation system?

    06/28/2014 9:12:25 PM PDT · by Tolerance Sucks Rocks · 7 replies
    The Greeley Tribune ^ | June 27, 2014 | Randal O'Toole
    Oregon Sen. Ron Wyden has proposed a three-month transportation bill. Three more months, he says, will give Congress a chance to figure out a long-term solution. The only problem is that Congress had three months three months ago and did nothing. Meanwhile, Sens. Chris Murphy, D-Conn., and Bob Corker, R-Tenn., have proposed to increase gas taxes by 12 cents a gallon. Considering that the gas tax hasn’t been increased in more than 20 inflation-filled years, this would seem to make sense.It doesn’t, however, because a gas tax increase assumes there is a shortage of funds for transportation. Instead, the real...
  • How one couple wiped out a $125,000 debt

    06/27/2014 10:12:31 PM PDT · by rjbemsha · 24 replies
    Market Watch ^ | 28 June 2014 | Quentin Fottrell
    Two weeks before Christmas of 2004, Kandy Hildebrandt opened a letter addressed to her husband Russ, at his request. The letter revealed that her husband had a personal loan of $17,500. They sat down to talk about it: Russ also had 11 credit cards totaling $89,000 in debt. “He handled the personal finances,” she says. “I knew we had several credit cards, but I was unaware of the extent of our debt.” The finance charges on the credit cards alone were $1,593 a month – double their $750 monthly rent in New Richmond, Wis. The Hildebrandts knew they needed to...
  • Think college is expensive now? Wait until July 1

    06/26/2014 5:43:45 PM PDT · by SeekAndFind · 5 replies
    CNBC ^ | 06/26/2014 | Sharon Epperson
    Congratulations, graduates, on your diploma. Now what about that $29,000 student loan debt? More than 70 percent of graduates will carry student debt into the real world, according to the Institute for College Access and Success. And the average debt is just shy of $30,000. But the news will get worse next week when interest rates on student loans are set to rise again. Though federal student loan rates are fixed for the life of the loan, these rates reset for new borrowers every July 1, thanks to legislation that ties the rates to the performance of the financial markets....
  • ‘Student Loan Relief Now’: The case for allowing these debts to be erased via bankruptcy.

    06/25/2014 6:45:30 AM PDT · by SeekAndFind · 46 replies
    Weekly Standard ^ | 06/25/2014 | Ike Brannon
    [SNIP] We allow people to declare bankruptcy in acknowledgment that letting people escape from debt they cannot repay is a beneficial policy for both society and the economy. To exempt a particular type of debt—for an activity society should very much like to encourage—belies the very reason for a bankruptcy law in the first place. Lending a student $60,000 to attend a private school he may have little chance of graduating from is not terribly different than the mortgage lenders who gave imprudent loans to people buying homes they could not really afford. [SNIP] If we are concerned that allowing...
  • Why college graduates are too broke to launch their lives

    06/24/2014 5:59:04 AM PDT · by SeekAndFind · 63 replies
    New York Post ^ | 06/24/2014 | By Gregory Bresiger
    Life’s traditional milestones of marriage, home and children do not hold any currency for today’s millennials due to lack of cash. Many young adults, facing a difficult job market, suffer from a failure to launch their lives and leave the safety of the family home. Many must continue to rely in some part on parents for financial support, according to the findings of a new survey. “The majority of young adults are struggling to achieve financial security in their transition from college to adulthood,” according to the Arizona Pathways to Life Success for University Students (APLUS). It is an annual...
  • Debt Capital Diplomas: Many families facing the hefty price of sending their children to college

    06/23/2014 8:40:28 AM PDT · by SeekAndFind · 19 replies
    Townhall ^ | 06/23/2014 | Harry R. Jackson
    With high school graduation season out of the way, countless families are facing the hefty price tag of sending their children to college. Over the past five years, tuition rates for private four-year colleges have risen 14 percent, while rates for public colleges have risen 27 percent. If you look back thirty years, tuition has risen a shocking 1200 percent. There is plenty of speculation about the reasons for these rising costs, which have outpaced inflation for decades. But far more important to millions of parents is how to minimize and manage them. According to the National Center for Education...
  • Common Core Goes to College – Obama Admin's New Rating System

    06/19/2014 9:56:03 AM PDT · by SeekAndFind · 12 replies
    Christian Post ^ | 06/19/2014 | Napp Nazworth
    Despite strong opposition from College presidents, the Barack Obama administration is moving forward with a college rating system based upon a philosophy of education that bears a striking resemblance to the Common Core. According to a White House fact sheet and a Department of Education FAQs page, colleges would receive a rating based upon: costs, graduation rates, how much money graduates make, and how many graduates go on to get advanced degrees. Pitched as a way to slow the rising costs of higher education, Obama wants to tie those ratings to federal aid. Students who attend colleges with higher scores...
  • Argentina says next bond payment 'impossible', default looms

    06/19/2014 6:36:22 AM PDT · by WhiskeyX · 14 replies
    Reuters ^ | Thu Jun 19, 2014 8:41am EDT | Hugh Bronstein and Joseph Ax
    (Reuters) - Argentina threatened to default on its debt on Wednesday when the government called it "impossible" to pay bond service due on June 30, citing a U.S. court decision earlier in the day that increased pressure on the economically ailing country.
  • Top 10 Happiest Colleges in the Country

    06/18/2014 7:48:27 AM PDT · by Vigilanteman · 51 replies
    Fastweb ^ | 18 June 2014 | Kathryn Knight Randolph
    Original article was published by The Daily Beast earlier this month. If you don't care to go to the original, these are the top 10: Texas A& M Stanford University University of Wisconsin Florida State University University of North Carolina, Chapel Hill University of Florida Brigham Young University University of Georgia University of Texas, Austin Kansas State University
  • Humiliation at rout hits Iraqi military hard

    06/17/2014 2:32:59 PM PDT · by Oldeconomybuyer · 19 replies
    Washington Post ^ | June 17, 2014
    The Iraqi soldiers tell of how they can hardly live with the shame of their rout under the onslaught of the Islamic militants. Their commanders disappeared. Pleas for more ammunition went unanswered. Troops ran from post to post only to find them already taken by gunmen, forcing them to flee. “I see it in the eyes of my family, relatives and neighbors,” one lieutenant-colonel who escaped the militants’ sweep over the northern city of Mosul told The Associated Press. “I am as broken and ashamed as a bride who is not a virgin on her wedding night.”
  • The Social Security cash crunch Congress can't ignore

    06/17/2014 2:36:58 PM PDT · by Oldeconomybuyer · 23 replies
    CNN Money ^ | June 17, 2014 | By Jeanne Sahadi
    It's highly unlikely that Congress will reform Social Security any time soon. But there is a near-term cash crunch in one part of Social Security that lawmakers must resolve in the next year or two. The trust fund for Social Security disability benefits, which is separate from the fund for retirement benefits, is on track to be insolvent -- most likely by the end of 2016 but no later than 2017. So unless Congress acts to replenish the fund beforehand, the program will only be able to pay an estimated 80% of promised benefits to 8.8 million disabled workers, plus...
  • How to live with your parents

    06/17/2014 8:29:46 AM PDT · by Lorianne · 24 replies
    Your Houston ^ | 16 June 2014 | Tom Purcell
    Hey, young adults, living at home with Mom and Dad isn’t the end of the world — if you follow the right advice. As it goes, reports the U.K.’s Daily Mail, nearly 30 percent of adults under age 35 are living at home with their parents. Why? Well, the economy continues to sputter along, producing few entry-level jobs that allow young college graduates to get their careers underway. And thanks to soaring tuition costs, there is the record amount of college-loan debt that young people are carrying. Nearly 37 million young Americans owe more than $1 trillion in student-loan debt...
  • Argentina president defies US court order on repayment of debts

    06/17/2014 5:25:40 AM PDT · by WhiskeyX · 9 replies
    FoxNews ^ | June 17, 2014 | FoxNews.com
    Argentina's president has said that she would refuse to comply with a U.S. judge's order to pay $1.5 billion to winners of a decade-long legal battle over defaulted debt after the U.S. Supreme Court refused to hear her government's final appeal. [....] Under the U.S. court orders, Argentina must hand over $907 million to the plaintiffs before June 30, or lose the ability to use the U.S. financial system to pay an equal amount to holders of other Argentine bonds.
  • The United States Of Debt: Total Debt In America Hits New Record High Of Nearly 60 Trillion Dollars

    06/16/2014 11:43:42 AM PDT · by SeekAndFind · 29 replies
    TEC ^ | 06/16/2014 | Michael Snyder
    What would you say if I told you that Americans are nearly 60 TRILLION dollars in debt? Well, it is true. When you total up all forms of debt including government debt, business debt, mortgage debt and consumer debt, we are 59.4 trillion dollars in debt. That is an amount of money so large that it is difficult to describe it with words. For example, if you were alive when Jesus Christ was born and you had spent 80 million dollars every single day since then, you still would not have spent 59.4 trillion dollars by now. And most of...
  • Haven’t paid a credit card for 6 months? [troll aka “foolynyah” zotted]

    06/15/2014 12:50:54 AM PDT · by pansgold · 259 replies
    VI / XV / MMXIV | pansgold
    This advice is worth what you paid for it. You see, after 90 days of not paying on a credit card, the bank charges it off and sells the debt along with hundreds or thousands of others to a collection agency for 1/100th of the value of the original debt. The debt buyer then tries to collect from the debtor and they keep all the money they can collect. They will take you to court and try and garnish your wages for 6 to 8 or 12 years. That’s when you ask the court to force the new debt holder...
  • The U.S. spent $3 million on boats for landlocked Afghanistan

    The United States spent more than $3 million on eight patrol boats for the Afghan police, according to an internal audit released Thursday. That sentence is surprising for a few reasons: 1. Afghanistan is landlocked. 2. Not a single boat has arrived in Afghanistan, even though the purchase was made in 2010. 3. That works out to be more than $375,000 per boat. Similar boats in the United States are typically sold for about $50,000.
  • Education Secretary Arne Duncan: No, we don’t actually know the cost of our student loan program

    06/11/2014 3:10:24 PM PDT · by SeekAndFind · 8 replies
    Hotair ^ | 06/11/2014 | Erika Johnsen
    An unsurprising yet groan-inducing addendum to the empty gestureexecutive order President Obama so magnanimously introduced this week to allow millions of student-loan borrowers to cap their monthly payments at 10 percent of their current income and then be fully forgiven after 20 years — a “favor” to borrowers to lessen their burdens that will, in the long run, only serve to inflate future tuition prices and borrowing costs ever further. I missed this on Monday, but the WFB didn’t:CLICK ABOVE LINK FOR THE VIDEO SECRETARY OF EDUCATION ARNE DUNCAN: We actually don’t know the cost yet. Obviously we have...
  • Top Ten Casualties in Obama’s Wars—To Whom He Won’t Apologize

    06/11/2014 8:52:12 AM PDT · by Kaslin · 9 replies
    Townhall.com ^ | June 11, 2014 | John Ransom
    10) In six short years as president, Obama has taken the Democratic Party from the One to done. While it’s way too early to write off the party even for 2014, the wounds created by supporting this colossal bozo will be even longer to heal than the wounds inflicted by Jimmy Carter. Obama said way more then he knows when he admitted that the problem is he’s president not emperor. 9) Remember when the Fawning News Media said that comedians would have a tough time making fun of Obama because he was so serious, so perfect, so black? Well the...
  • The Wrong Reform on Student Debt: Obama's so-called "Reform" overlooks the real problem

    06/11/2014 7:38:04 AM PDT · by SeekAndFind · 9 replies
    National Review ^ | 06/11/2014 | The Editors
    There are plenty of problems with American higher education: Its price keeps rising rapidly, some qualified students still don’t have access to it, and others end up at institutions for which they are ill suited. President Obama proposed a plan this week to enable existing student-loan borrowers to lower their payments, which addresses none of these concerns. Student debt is a real problem, but the cost of college is a much bigger one, and this is a temporary salve, applied unevenly. A number of federal programs already limit annual payments on recently issued student loans to a certain percentage of...
  • Weekly Address: Obama Vows to Go Around Congress on Student Loans (Video)

    06/08/2014 12:01:37 PM PDT · by blueyon · 38 replies
    Breitbart TV ^ | Breitbart TV/Pam Key
    White House: In this week's address, President Barack Obama underscored the importance of helping to lift the burden of crushing student loan debt faced by too many Americans and......
  • Green Line opens soon, and St. Paul has a lot riding on this train

    06/08/2014 5:41:42 AM PDT · by TurboZamboni · 21 replies
    Pioneer Press ^ | 6-8-14 | Fred Melo
    Officials at all levels of government are banking that Metro Transit's $957 million investment will do more than simply shuttle existing bus riders in fancier vehicles between the downtowns of St. Paul and Minneapolis when it debuts June 14. They are counting on light rail to be a catalyst -- an economic game-changer for downtown St. Paul and much of University Avenue. Both areas have lost industry since the 1970s. The city as a whole lost 13.4 percent of its employment from 2000 to 2011, a period during which the U.S. shed 2.2 percent of its jobs, according to Wilder...
  • Taxpayers Paid $5.6 Million for Climate Change Games

    05/23/2014 1:07:46 PM PDT · by Oldeconomybuyer · 11 replies
    Washington Free Beacon ^ | May 23, 2014 | BY: Elizabeth Harrington
    Taxpayers paid more than $5 million to create climate change games, including voicemails from the future warning that “neo-luddites” will kill global warming enthusiasts by 2035. Columbia University’s Climate Center has received $5.7 million from the National Science Foundation for the university’s “PoLAR Climate Change Education Partnership,” to “engage adult learners and inform public understanding and response to climate change.” Based on the theory that games “motivate exploration and learning of complex material,” the school created “Future Coast,” a website that features hundreds of made up voicemails painting a dire picture of the future as a result of climate change....
  • The G-String Scholarship: College Students Strip to Pay Tuition Costs

    05/23/2014 12:48:15 PM PDT · by SeekAndFind · 108 replies
    ABC News ^ | 05/20/2014 | By JUJU CHANG and MICHAEL CAPPETTA JUJU CHANG
    Maggie is a straight-laced, straight-A student studying to become an international affairs lawyer, who will graduate debt-free all thanks to the unusual way she pays her tuition. Maggie, 23, a double-major in Spanish and political science, is a student by day and a stripper by night. Every other weekend, Maggie, who asked that her last name not be used, takes the three-hour ride from her college in Maryland to Manhattan, where she performs at a dance club called Scores. “I have a class that ends at 5:30, hop on a bus at 6:00, and be at work by 8:30,” Maggie...
  • Mikulski Addresses $4B Budget Gap With Gimmicks

    05/22/2014 12:00:04 PM PDT · by Oldeconomybuyer · 3 replies
    ABC News ^ | May 22, 2014 | By ANDREW TAYLOR, AP
    The Democratic chairwoman of the powerful Senate Appropriations Committee moved aggressively Thursday to use gimmicks to fill in an unexpected $4 billion gap in the budget. Mikulski's maneuver came after congressional scorekeepers surprised lawmakers by predicting that the Federal Housing Administration will produce $4 billion less in revenues from the mortgages it insures than the administration believes. Sen. Richard Shelby said Mikulski's maneuvering amounted to an end run around a December budget pact between Senate Budget Committee Chairman Patty Murray, D-Wash., and House Budget Chair Paul Ryan, R-Wis. that replaced some automatic cuts to agency operating budgets with new fees...
  • Illinois spending $1,166 per bird to bring in prairie chickens

    05/19/2014 5:50:37 PM PDT · by TurboZamboni · 20 replies
    fox ^ | 5-19-14 | Scott Reeder
    The cash-strapped Illinois government has found a new use for its fleet of aircraft – flying birds into Illinois. I kid you not. State aircraft are flying to Kansas and transporting prairie chickens back to the Land of Lincoln. And at a time state lawmakers are looking at raising the state income tax, Illinois state employees have been hiking across Kansas trapping these chickens. Talk about fowl fiscal deeds.
  • Net Worth Of College Grads With Student Debt Is 20% Less Than High School Grads With No Debt

    05/18/2014 4:10:36 PM PDT · by SeekAndFind · 37 replies
    Zero Hedge ^ | 05/18/2014 | Tyler Durden
    Yesterday we provided a detailed breakdown of the cost aspects of a college education, particularly for young people who have no choice but to fund their education with student debt, a key part of the equation that the San Fran Fed in its particular cost-benefit "analysis" of college education avoided.There is much information in the post, but one particular aspect of the Pew analysis that the article was based on, bears repeating and highlighting for all those less than "1%" young Americans debating whether a college education is worth the tens if not hundreds of thousands of dollars in...
  • State of Minnesota may soon control your retirement savings

    05/15/2014 7:13:10 AM PDT · by TurboZamboni · 41 replies
    MN Freedom Foundation ^ | 5-8-14 | Jonathan Blake
    Earlier this week, House and Senate conferees agreed to final language for the Women’s Economic Security Act (WESA). While most of the attention has focused on the bill’s family and sick leave provisions, one particularly bad policy provision has attracted little attention. Specifically, WESA lays the groundwork for a “state-administered retirement savings plan” for employees in the private sector. Yes, this would essentially be a government-run retirement plan controlled by the State Board of Investment. The ramifications of such a plan could be devastating for private sector employees as well as taxpayers who would likely be on the hook for...
  • The 10 Highest-Paying Jobs That Don’t Require A Bachelor's Degree

    05/14/2014 12:46:56 PM PDT · by SeekAndFind · 20 replies
    Business Insider ^ | 05/14/2014 | JACQUELYN SMITH
    If you think you need a bachelor's degree to have a lucrative career, think again. Yes, it's true that those with a bachelor's typically earn more than those without one — but it's certainly not always the case. A new report by the career-guidance website CareerCast found that there are plenty of high-paying jobs — including commercial pilot and registered nurse — that don't require four years of college. They do, however, require specialized training. "There's no question that college graduates with four-year degrees are very likely to earn almost $1 million more in compensation through the course of their...
  • Student Loans Soar To Record $1.111 Trillion, Up 12% In Past Year

    05/13/2014 11:35:12 AM PDT · by SeekAndFind · 37 replies
    Zero Hedge ^ | 05/13/2014 | Tyler Durden
    When the Fed releases its quarterly household credit report, the one item most focused on is the amount of mortgages outstanding and originated in the prior quarter, since courtesy of its monthly consumer credit updates we know that US households have largely given up charging their credit cards at the expense of non-revolving student and car loans. So here is the summary.First, the good news: courtesy of ZIRP mortgage defaults and discharges tumbled in Q1, resulting in an increase in total mortgage debt balances of $8.17 billion, or an increase of $116 billion in the quarter.  Now, the bad...
  • 8 extreme ways to avoid college debt (CNBC chimes in)

    05/11/2014 6:40:02 AM PDT · by Libloather · 30 replies
    MSNBC ^ | 5/11/14 | Roy Luo
    Make an emancipation declaration Get hitched (and marry down) Join the military Welcome the welfare state Crowd-fund your tuition Sell your genetic material Become homeless Reimagine the semester abroad
  • Revenue Shortfalls and Debt Downgrades in Kansas

    05/09/2014 1:34:54 PM PDT · by ThethoughtsofGreg · 13 replies
    American Legislator ^ | 5-9-14 | Will Freeland
    Kansas policymakers were recently hit with two pieces of bad news: a state bond downgrade by Moody’s investors and lower than expected income tax revenues. Opponents of Kansas tax reform and reform efforts outside the state are hailing this as a “teachable moment” on the problems with tax reform, but their faux-concerns are misplaced. Opponents misunderstand the source of these problems and the virtues of tax reform in putting the state on firming footing. Lower than expected tax returns are largely the result of slow economy and federal tax policy. First quarter gross domestic product growth in the United States...
  • No hard sciences? Then no job offer

    05/08/2014 5:18:30 AM PDT · by TurboZamboni · 49 replies
    Mpls Star & Sickle ^ | 4-21-14 | HOWARD ROOT
    A college education historically has been the route to a better-paying job and a satisfying career. But currently, more than half of college graduates are “underemployed” in jobs that don’t require a college degree. Why the growing disconnect? Certainly, the main reason is our economy’s slow recovery. But I believe another reason is the lack of substantive learning in many students’ college studies. And while not unique in this regard, the failure to prepare students to adequately perform in degree-required jobs is evident in the undergraduate curriculum at the University of Minnesota. Every year Vascular Solutions hires recent college graduates...