Huge spending cuts, and maybe some targeted tax hikes. That’s how the deal to raise the debt ceiling is shaping up. Details are thin, as negotiations have been carried out behind closed doors and involve only a few of Washington’s heaviest hitters. This much is known: Lawmakers must raise the nation’s $14.3 trillion legal borrowing [...]
Jul 01
Why is the U.S. making money nobody wants?
A billion dollars in unwanted American dollar coins sits in specially-made vaults the size of soccer fields in Texas and Baltimore and other undisclosed locations. They’re heavily guarded — according to NPR’s Planet Money team, even journalists must be watched carefully as they check out the “clear plastic bags piled high on sturdy metal pallets [...]
Jun 30
The ins and outs of retirement accounts, part 1: The 411 on 401(k)s
Like sunspots and wrinkles, saving for retirement is one of those things that can be hard to take seriously when you’re young. Still, in the same way skin damage accumulates over time, so do retirement savings. The more sunscreen you wear now, the better you’ll look in your 60s, and the more money you stash [...]
Jun 30
Family finances a mess? Try economic “CPR”
If your family finances are sickly and anemic, it’s time to fix what ails you. Restoring your family finances to economic health is a process that begins the moment you resolve to get off your fiscal deathbed and get into the economic intensive care unit. The economic ICU is the one place you’ll be financially [...]
Jun 30
Walmart slashes gas prices by 10 cents a gallon
Wal-Mart Stores Inc. (WMT) is cutting gas prices by 10 cents a gallon for three months to help consumers worried about their spending amid a sputtering economy and busy summer travel season. “Our customers have told us that high gas prices are a top budget concern, nearly as large an expense to their households as [...]
Jun 30
Uncle Sam calls out steepest college tuition hikes
Roughly 530 colleges across the country will soon have to submit special reports to Uncle Sam, explaining why their tuition and student fees have recently surged. For the first time ever the Department of Education released a list Thursday morning, ranking colleges with the steepest tuition hikes. The report lists the top 5% of schools [...]
Jun 29
Consumer confidence falls unexpectedly in May
Americans are losing faith that the economy will keep improving, according to a monthly survey. The Conference Board’s Consumer Confidence Index fell to a six-month low of 60.8 from a revised 66 in April, a sign of the toll that high gas prices, a choppy job outlook and a moribund housing market are taking on [...]
Jun 29
Food stamps for fast food? Yum, say restaurants
America’s poor, who are more likely to be plagued with poor nutrition and stricken with obesity than higher income groups, statistics show, are also more likely to get their meals from fast food restaurants. Where else can you get a days’ worth of calories for $5, no preparation required? And this is the problem that [...]
Jun 29
Fed to set final rule on debit card swipe fees this week
The Federal Reserve is preparing to issue its final rule on the controversial debit card “swipe fees” Wednesday, a move that could potentially lead to less favorable interest rates on high-yield checking accounts and unattractive terms and yields on other banking products and services. In its December draft proposal, the Fed suggested capping debit card [...]
Jun 28
Job jugglers, on the tightrope
When someone asks Roger Fierro “What do you do?” — which he knows is shorthand for “Where do you work?” — he laughs. Then he says, “I do everything.” Mr. Fierro, who is 26, has four jobs: working as a bilingual-curriculum specialist for the textbook publisher Pearson; handling estate sales and online marketing for a [...]
