Tagged: debt

As many political pundits predicted, the debate over the federal debt ceiling is reaching a new level.

President Obama said in a news conference today that if Republicans refuse to budge in budget negotiations, then a debt ceiling deal probably won't be reached.

Michigan Senator Debbie Stabenow says she hopes President Obama and Congressional leaders can strike a ‘balance’ in Sunday’s planned talks on extending the debt ceiling.  Stabenow says the President and Republicans should prioritize the needs of middle class Americans. 

“Its very concerning to me that we not see the budget be balanced on the backs of middle class families and senior citizens.”

The debate over the federal budget and the debt ceiling is heated, and there are very dire predictions from both Republican and Democratic leaders about what will happen if these issues aren’t resolved soon. But for Americans who are dealing with every day, immediate issues, this debate can seem distant.

Republican Congressman Mike Rogers represents Michigan's 8th Congressional District. He spoke with Michigan Radio's Jenn White about why people should care about this debate.

Congressman Rogers says these issues "impact the ability for our economy to grow and for people to get back to work."

Michigan congressman Tim Walberg describes today’s meeting between Republican lawmakers and President Obama as ‘congenial’.   Walberg was among the GOP members of congress who outlined their concerns about the budget during the 90 minute meeting with the president at the White House. 

It's easy to criticize. Now you're in charge.

The New York Times has created a slick little interactive tool that displays different solutions to the country's projected budget deficits.

We collectively owe around $828 billion in revolving credit debt (that includes credit card debt), according to the latest numbers from the Federal Reserve.

Now, a column in the Detroit Free Press is reporting that for the first time ever, student loan debt has outstripped  revolving credit debt, coming in at $850 billion.