United States Department of the Treasury

17trillion

U.S. Debt Busts Through $17 Trillion Dollars

The $328 billion increase shattered the previous high of $238 billion set two years ago. The giant jump comes because the government was replenishing its stock of “extraordinary measures” — the federal funds it borrowed from over the last five months as it tried to avoid bumping into the debt ceiling. Under the law, that replenishing happens as soon as there is new debt space. In this case, the Treasury [...]

Report: Obama Admin Approved Excessive Pay for Bailed-out Execs of GM, AIG others

Report: Obama Admin Approved Excessive Pay for Bailed-out Execs of GM, AIG others

An internal government watchdog today accused the U.S. Treasury Department of approving “excessive” pay packages for bailed-out companies, including General Motors and Detroit-based Ally Financial. The Office of the Inspector General for the Troubled Asset Relief Program (TARP) released a report slamming Treasury officials for signing off on 18 pay raises and other 2012 compensation packages for executives at GM, Ally and AIG. The report also reveals that GM CEO [...]

AIG Drops Government Lawsuit Over 2008 Bailout

AIG Drops Government Lawsuit Over 2008 Bailout

AIG Drops Government Lawsuit Over 2008 Bailout by Evelyn Robinson We all remember the economic downtown that occurred during 2008. At the height of this time was the financial crisis, during which stock markets around the globe took a tumble for the worst while the Federal Government bailed out many of the largest financial institutions with the biggest amounts of business liability . One institution, the insurance corporation AIG’s Potential [...]

Real Reason Obama is Rushing Home? U.S. to Hit Debt Limit Monday

Real Reason Obama is Rushing Home? U.S. to Hit Debt Limit Monday

The U.S. Treasury on Wednesday announced the first in a possible series of emergency steps to push back the day when the government will exceed its legal borrowing authority as imposed by the U.S. Congress. The Treasury said on Dec. 28 it would suspend issuance of State and Local Government Series securities, known as “slugs”, which are special low-interest Treasury securities offered to state and local governments to temporarily invest [...]

Pundit: Then-and-Now Numbers Reveal Obama’s Weaknesses

Pundit: Then-and-Now Numbers Reveal Obama’s Weaknesses

As President Barack Obama nears the end of his first term, many are wondering what has changed since he took office. Others wonder, “What is he thinking?”   Within his first 100 days in the White House, Obama made his most expensive legislative move: the $787 billion American Recovery and Reinvestment Act of 2009 – the stimulus package. The stimulus money was meant to turn the tide of the recession [...]