Obama’s claim about ‘unprecedented’ government default is not true
Columnist points out there is 10 times more revenue coming in than is needed to service debt
Think of it as a mandatory spending cut, made with a broadsword.
The U.S. is not at risk of defaulting on its debt.
Outlook is grim should the U.S. default on financial obligations
Washington can avoid a default without raising the debt limit.
Debt ceilings aren’t unconstitutional, though defaults are.
Standard & Poor says country remains only four steps away from default
Some GOP legislators contend U.S. not at risk for default if debt ceiling not raised
Refusing to raise the debt limit would be a terrible mistake.
Sen. Tom Coburn says he has a list of programs costing $350 billion “that need to be eliminated”
Fewer Americans fell behind on their credit card bills in May, signaling that consumers are closer to getting their debt levels under control even if the economy remains sluggish
Several downtrodden cities are on the verge of defaulting on their debt, putting financially encumbered states and taxpayers on the hook to pick up the tab
IMF pledges Greece largest loan in its history - NEW YORK TIMES
The euro halted its decline Thursday, a day after the International Monetary Fund promised to increase the 45 billion-euro aid package for Greece to as much as 120 billion euros over three years to quell the fund’s biggest crisis since the Asian woes of 1997
Greece’s debt crisis creates global jitters - THE ECONOMIST
How far is it from Athens to America and which countries lie on the way? That may sound like an esoteric geography question, but it is being asked by investors as Greece’s debt crisis creates global jitters about the safety of sovereign debt
European currency worries affect Wall Street - New York Times
A rout in stock markets that began in Europe spread to Wall Street on Thursday and around the globe to Asia on Friday, amid fears that Europe may be the world’s next financial flashpoint