The weather around here has been pretty hot lately but it’s been even hotter in Washington, D.C., where Democrats and Republicans have been locked in a pitched battle over the debt ceiling, the credit cap that Congress puts on the national debt. In what is normally a mundane legislative process worthy of C-Span television coverage, […]
President Barack Obama warns the U.S. will lose top credit rating in default, urges people to pressure Congress.
We are less than a week away from the self-imposed August 2nd deadline for the United States to increase its debt ceiling from the current $14.3 trillion. The United States has imposed a debt ceiling limit since 1917 as one of several ‘checks & balances’ for its political system.
Having been taken hostage, the world is waiting with bated breath for the outcome of today's vote on a newly modified plan in the hope that a compromise will be reached by the U.S. politicians over raising the country’s $14.3 trillion borrowing limit by the August 2. But the world's also got a nervous eye on the possibility of the current impasse remaining unresolved pushing the U.S. into debt default.
The global financial community is counting down the days till August 3 when the deadline for raising the U.S. debt ceiling expires.
Summertime means good times for most Canadians.
The U.S. economic recovery is well underway. So we can sit back and watch our investment portfolios grow steadily - right?
Canadians are doing a good job of debt management but are not quite making the grade when it comes to savings, according to CIBC’s Financial Report Card Poll. The poll asked Canadians to grade themselves on various financial habits, and revealed they are placing debt reduction much higher on their priority list than building their […]
While Canadians appear to be accelerating their mortgage payments, they claim to be saving less, according to a survey by RBC. The poll found that 40% of Canadians are saving less than they did last year.
Canadians are slowly waking up to the fact that putting the brakes on spending is not enough to battle household debt. According to the latest debt report from the Certified General Accountants Association of Canada (CGA-Canada), Canadian families are faced with household debt that’s reached a record high. “The debt of a typical household is […]