Word: crediteers
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...years and the first four consecutive balanced budgets (reducing the public debt by $450 billion) since the 1920s. The public fights were often intense, but the willingness to keep talking and working together led to a number of historic achievements that both Clinton and the congressional Republicans could claim credit for. (See pictures of Gingrich's career...
...Meanwhile, nuclear costs keep spiraling out of control. Last year, the estimates for several reactors doubled, and for one Pennsylvania reactor more than tripled. This is why credit-rating agencies keep downgrading utilities with nuclear ambitions, which increases their borrowing costs and makes their projects even more expensive. Even with the federal guarantees, the new reactors at Vogtle are expected to boost local electricity bills by 9% - and like most nuke-friendly states, Georgia has enacted a law ensuring that ratepayers won't get their money back if the utility fails to complete the plant...
...stepped out of a time machine straight from a Perot rally when she said recently, "It's time that we speak up - we the people. We are the employers. All these elected reps are the employees. And we need to stop calling them officials, giving them more credit than is due them." (See pictures of the Tea Party tax protests...
...best. It's not as if all borrowers who bit off more than they could chew were deceived; many of them just wanted more house than they could afford, and it's not clear whether an agency devoted to helping consumers would have pushed for stricter scrutiny of their credit histories, higher requirements for their down payments and other borrowing restrictions that might have helped save them from their own bad instincts. In any case, it's hard to imagine how the subprime crisis would have metastasized into a financial collapse if banks hadn't been so big, interconnected, complex...
...Monday, the day when Greeks marked the beginning of Lent. For the country, a period of spartan repentance lies ahead - and not just because the seven-week period of Lenten fasting is starting. After years of overspending by both the government and ordinary people armed with credit cards - and now flush with credit-card debt - Greeks know the party is over. According to a poll released on Feb. 14, nearly two-thirds of people support the government's proposed austerity measures to cut the soaring deficit. Many even believe they don't go far enough...