Auto and School Debt up the Most The AP reports that US consumers borrowed more in November in order to purchase cars and to go to school but left their credit cards alone. The Federal Reserve said consumer borrowing rose by $16 billion in November to a record high of $2.77 trillion.  Borrowing for autos […]

Failing to renew the Bush tax cuts in the recent “fiscal cliff” legislation has, as we predicted in December, brought back the Marriage Penalty.  A Sun Sentinel report talks to Plantation, FL accountant Sheri Schultz.  Schultz says her family “is facing tax hikes to the tune of thousands of dollars this year.” They are not […]

But he doesn’t want to reduceit… In an ABC News report President Barack Hussein Obama warned that he “will not compromise” over his insistence that Congress lift the federal debt ceiling.  Lift it?  Our country’s borrowing limit is currently $16.4 trillion (with a T). “If Congress refuses to give the United States the ability to […]