Debt

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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6:52am

Mon May 21, 2012
Health

Patients Go Bankrupt As Medical Costs Soar

Kimberly Fague filed for bankruptcy after an illness took its toll. The Colorado woman racked up $15,000 in costs that her government health insurance didn’t cover.
Carol McKinley Colorado Public News

In 2008, Kimberly Fague was diagnosed with organ failure. Plagued by nausea, she lost a third of her body weight. She suffered from confusion and constant fatigue. Her liver and surrounding organs swelled to the point that she developed a hernia.

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