Debt and Debt Management News, Information and Guidance

In Greek Debt Crisis, Some See Parallels to U.S.

The New York Times, May 11th, 2010 It’s easy to look at the protesters and the politicians in Greece — and at the other European countries with huge debts — and wonder why they don’t get it. They have been enjoying more generous government benefits than they can afford. No mass rally and no bailout…

Solving the deficit problem requires an open mind, common sense and courage

The Washington Post, May 12th, 2010 Now that we’ve watched a fiscal crisis that began in Greece engulf all of Europe, maybe we should start considering the possibility that the same thing could happen to us if we don’t get serious about our government’s ballooning debt. In recent months, think tanks have published a lot…

Retiring free and clear of mortgage debt

Bankrate.com, April 30th, 2010 Should you continue to make mortgage payments after you retire? Or should you pay off the house before quitting your job for good? Financial experts are divided on this issue. Reasons you may not pay it off Bankrate’s own Dr. Don says it makes sense to compare the after-tax return on…

4 ways to tackle massive credit card debt

Bankrate.com, March 30th, 2010 Dear Debt Adviser, My husband had to take an early retirement for medical reasons. We owe about $50,000 in credit card debt. We can pay our house, utility, car and living expenses, but we have very little left for paying the credit cards. We don’t want to file for bankruptcy but…

Moody’s Says U.S. Debt Could Test Triple-A Rating

The New York Times, March 15th, 2010 The gold-plated credit rating of the United States — an article of faith across America and, indeed, around the world — may be at risk in coming years as the nation copes with its growing debts. That sobering assessment, issued Monday by Moody’s Investors Service, provided a reminder…

Iceland Voters Set to Reject Debt Deal

The New York Times, March 5th, 2010 After the dust began to settle last year — after the banks failed, the currency collapsed, the stock market crashed and the government fell — the dazed inhabitants of Iceland woke up to another unpleasant problem: They owed, it seemed, some $5.3 billion to more than 300,000 angry…

Eight States Have Shortchanged Pensions, Pew Study Finds

The New York Times, February 17th, 2010 Eight states have been given failing scores for their pension management under a new grading system developed by the Pew Center on the States, which also found a $1 trillion gap between what all 50 states have promised their workers and what they have set aside. The Pew…

Study: States must fill $1 trillion pension gap

Yahoo News, February 18th, 2010 States may be forced to reduce benefits, raise taxes or slash government services to address a $1 trillion funding shortfall in public sector retirement benefits, according to a new study that warns of even more debilitating costs if immediate action isn’t taken. The Pew Center on the States released a…

5 Proposals in Obama’s Budget for Retirement Savers

US News & World Report, February 2nd, 2010 President Obama’s budget for fiscal year 2011 includes many proposals aimed to help workers prepare for retirement. Here’s a look at the retirement projects the White House is asking Congress to fund. Automatic IRAs. Companies that don’t offer a retirement plan may soon be required to enroll…

Finances crushed by ‘upside-down’ car

The Oklahoman, February 3rd, 2010 DEAR BRUCE: A few months ago I purchased a car for $28,000. Now I’m regretting my decision. I was so excited about this shiny car that I jumped into a deal that I just can’t afford. I have been to several dealers hoping to trade the car in on something…