Federal deficit gap tops $1 trillion through June

The federal deficit has topped $1 trillion with three months still to go in the budget year...

Americans digging deeper, and deeper into Debt

One of the biggest problems saddling the country is damage from the housing market's collapse. Mounting foreclosures, falling home prices and soured mortgage investments are taking their toll on both individuals and businesses alike....

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Source: yahoo news

DEBT: Whittling Away U.S. Economic Power

One thing seems probable to me," Peer Steinbrück, the German finance minister, said recently. "The U.S. will lose its status as the superpower of the global financial system."

Read more: Debt is whittling away U.S. economic power