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Posts Tagged ‘debt’

Ask Slashdot: What’s the Best Place To Relocate?

August 14th, 2012 08:03 admin View Comments

Politics

New submitter tsakas writes: “I am an IT researcher from southern Europe looking for a good place to relocate. Markets are pulling the teeth out of the strong European countries by destroying the south. The U.S. is in debt and there is no way of telling how long this can go on. China and India are on the rise. Brazil and Australia are looking good. The question: Which city would you choose to go and start a family if you were to stay there for a) 5, b) 10 and c) 20 years?”

Source: Ask Slashdot: What’s the Best Place To Relocate?

Interview With Ward Cunningham

May 16th, 2012 05:57 admin View Comments

Programming

CowboyRobot writes Ward Cunningham developed the first wiki, wrote the Fit test framework, is the co-inventor of CRC cards, and is now promoting the concept of technical debt. He recently won the Dr. Dobb’s Excellence in Programming Award and was interviewed by that publication. ‘The creator of the Wiki dishes on the Wiki, Wikipedia’s policies, OO design, technical debt, CoffeeScript and Perl, how to survive as a veteran programmer, and doing the simplest thing that could possibly work.’ Cunningham is given the chance to explain his philosophy of coding: ‘I like the picture and I like the look of the code. It’s only 40 lines, but every line carried some careful thought. There was a learning curve there that surprised me because the programs looked short. The most rewarding work I’ve done this year is digging through that code and understanding what it does and understanding what it didn’t do, and how to approach the problem.’”

Source: Interview With Ward Cunningham

Debt Reduction Super Committee Fails To Agree

November 22nd, 2011 11:47 admin View Comments

Government

Hugh Pickens writes writes “VOA reports that the latest effort to cut the US government’s debt apparently has ended in failure as leaders of the special 12-member debt reduction committee plan to announce that they failed in their mandate from lawmakers to trim the federal debt by $1.2 trillion over the next decade. Democrats and Republicans blame each other for the collapse of the effort. “Our Democratic friends were never able to do the entitlement reforms,” said Republican Senator Jon Kyl. “They weren’t going to do anything without raising taxes.” Democratic Senator Patty Murray, one of the committee’s co-chairs, says that the Republicans’ position on taxes was the sticking point. “The wealthiest Americans, who earn over a million a year have to share too. And that line in the sand, we haven’t seen Republicans willing to cross yet,” Now in the absence of an agreement, $1.2 trillion in across-the-board spending cuts to domestic and defense programs are set to take effect starting in January 2013 and the lack of a deal will deprive President Barack Obama of a vehicle for extending a payroll tax cut and insurance benefits for unemployed Americans, which expire at the end of the year.” (Though the official deadline for the committee’s hoped-for plan is tomorrow — the 23d — they were to have provided it for review 48 hours prior.)

Source: Debt Reduction Super Committee Fails To Agree

Debt Reduction Super Committee Fails To Agree

November 22nd, 2011 11:47 admin View Comments

Government

Hugh Pickens writes writes “VOA reports that the latest effort to cut the U.S. government’s debt apparently has ended in failure as leaders of the special 12-member debt reduction committee plan to announce that they failed in their mandate from lawmakers to trim the federal debt by $1.2 trillion over the next decade. Democrats and Republicans blame each other for the collapse of the effort. ‘Our Democratic friends were never able to do the entitlement reforms,’ said Republican Senator Jon Kyl. ‘They weren’t going to do anything without raising taxes.’ Democratic Senator Patty Murray, one of the committee’s co-chairs, says that the Republicans’ position on taxes was the sticking point. ‘The wealthiest Americans, who earn over a million a year have to share too. And that line in the sand, we haven’t seen Republicans willing to cross yet,’ Now in the absence of an agreement, $1.2 trillion in across-the-board spending cuts to domestic and defense programs are set to take effect starting in January 2013 and the lack of a deal will deprive President Barack Obama of a vehicle for extending a payroll tax cut and insurance benefits for unemployed Americans, which expire at the end of the year.” (Though the official deadline for the committee’s hoped-for plan is tomorrow — the 23d — they were to have provided it for review 48 hours prior.)

Source: Debt Reduction Super Committee Fails To Agree

Debt Reduction Super Committee Fails To Agree

November 22nd, 2011 11:47 admin View Comments

Government

Hugh Pickens writes writes “VOA reports that the latest effort to cut the U.S. government’s debt apparently has ended in failure as leaders of the special 12-member debt reduction committee plan to announce that they failed in their mandate from lawmakers to trim the federal debt by $1.2 trillion over the next decade. Democrats and Republicans blame each other for the collapse of the effort. ‘Our Democratic friends were never able to do the entitlement reforms,’ said Republican Senator Jon Kyl. ‘They weren’t going to do anything without raising taxes.’ Democratic Senator Patty Murray, one of the committee’s co-chairs, says that the Republicans’ position on taxes was the sticking point. ‘The wealthiest Americans, who earn over a million a year have to share too. And that line in the sand, we haven’t seen Republicans willing to cross yet,’ Now in the absence of an agreement, $1.2 trillion in across-the-board spending cuts to domestic and defense programs are set to take effect starting in January 2013 and the lack of a deal will deprive President Barack Obama of a vehicle for extending a payroll tax cut and insurance benefits for unemployed Americans, which expire at the end of the year.” (Though the official deadline for the committee’s hoped-for plan is tomorrow — the 23d — they were to have provided it for review 48 hours prior.)

Source: Debt Reduction Super Committee Fails To Agree

When Having the US Debt Paid Off Was a Problem

October 29th, 2011 10:11 admin View Comments

The Almighty Buck

Hugh Pickens writes “NPR reports that not so long ago, the prospect of a debt-free U.S. was seen as a real possibility with the potential to upset the global financial system. As recently as 2000, the U.S. was running a budget surplus, taking in more than it was spending every year — and economists were projecting that the entire national debt could be paid off by 2012. So the government commissioned a secret report outlining the possible harmful consequences of retiring the debt completely. For one thing, paying off the national debt would mean the end of Treasury bonds, a pillar of the global economy. Treasury securities are crucially important to the world financial system in a number of ways: banks buy them as low-risk assets, the Fed uses them for executing monetary policy, and mortgage interest rates vary based on Treasury rates. ‘It was a huge issue … for not just the U.S. economy, but the global economy,’ says Diane Lim Rogers, an economist in the Clinton administration. In the end, Jason Seligman, the economist who wrote most of the report titled ‘Life After Debt (PDF),’ concluded it was a good idea to pay down the debt — but not to pay it off entirely. ‘There’s such a thing as too much debt,’ says Seligman. ‘But also such a thing, perhaps, as too little.’”

Source: When Having the US Debt Paid Off Was a Problem

US Student Loans Exceed $1 Trillion

October 20th, 2011 10:32 admin View Comments

Education

sycodon writes “Politico reports that student loan debt now exceeds one trillion dollars, an amount that should impress even Dr. Evil. Politico further reports that this is one of the more concrete issues driving the OWS protests and provides some enlightening examples of their particular gripes.”

Source: US Student Loans Exceed $1 Trillion

Debt Deal Reached

August 1st, 2011 08:08 admin View Comments

United States

Global markets are on the rise in response to a deal between President Obama and congressional Republicans on the debt. The deal would cut more than $2 trillion from federal spending over a decade. However, most economists think this isn’t enough and does not remove the threat that the nation’s AAA credit rating could be downgraded.

Source: Debt Deal Reached

Seigniorage Hack Could Resolve Debt Limit Crisis

July 30th, 2011 07:45 admin View Comments

Government

UltraOne writes “With the US Senate voting to table the Boehner debt limit bill, the US is only a few days away from running out of cash to pay for all its obligations. Slate is reporting on a fascinating legal hack that could come in handy, described by blogger ‘beowulf’ back in January 2011. Seigniorage is the extra value added when a government mints a coin with a face value greater than the value of the precious metal contained in the coin. The statute governing the minting of coins contains a section (31 USC 5112(k) ) that authorizes the Secretary of the Treasury to mint and issue platinum coins in any denomination or quantity. To keep the government from running out of money, Timothy Geithner could order a $5 trillion platinum coin struck and deposited at the Federal Reserve. The money could then be used to fund Federal Government operations (blog post contains legal details).”

Source: Seigniorage Hack Could Resolve Debt Limit Crisis

Senators Want Secret Warrantless Wiretap Renewal

July 28th, 2011 07:32 admin View Comments

Communications

An anonymous reader writes “A group of Senators are meeting in secret today, while most people are focused on the ‘debt ceiling’ issue, in order to try to rush through a renewal of the FISA Amendments Act, which expressly allowed warrantless wiretapping in the U.S. The law isn’t set to expire until next year, but some feel that the debt ceiling crisis is a good distraction to pass the extension without having to debate the issue in public. The meeting is being held in secret, but it’s not classified, so people can demand to know how their Senator voted.”

Source: Senators Want Secret Warrantless Wiretap Renewal

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