Word: debts
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Dates: during 1990-1999
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...staff Harold Ickes is casting in harsher light the extent to which the Clinton presidency and the DNC became, in the hunt for re-election, nearly indistinguishable. One memo described the re-election fix Democrats were in by late 1995: "no cash on hand, a $7 million bank debt, and approximately $1.5 to $2.0 million in obligations. Not a particularly satisfying situation." According to the memo, the DNC would need $180 million by Election day. That would require White House residents to pitch in. Events starring President Clinton were slated for $50.2 million "from Trustees, Labor and the Asian community...
...lingering questions over the future salaries of doctors may deter low-income students from applying to medical school because the high debt they will accumulate in school is not guaranteed to "pay off" when they graduate, according to Edmister...
Here's a sign the economy may be in real trouble: the baby boomers, legendary for their spending and borrowing, are slipping into debt hell. And at least one major credit-card company is starting to feel the heat. Advanta, the nation's ninth largest issuer of plastic, stunned Wall Street last week by forecasting a loss of $20 million in the first quarter. The company relies on a computer model to pick more affluent customers, who are offered a large credit line and teaser rates as low as 5.9%. The result: the number of cardholders jumped from 2 million...
...Treasury bonds have been rising in anticipation that he'll pull the trigger on March 25 when the Fed Board meets. Higher rates are bad for the stock market but even worse for consumers. Even a quarter-point hike will hurt. Some 60 million households have "revolving" credit-card debt averaging more than $6,000, at an interest rate of about 17%. An uptick would add nearly a billion dollars in interest expenses. And those holding some $1.2 trillion in adjustable-rate mortgages and home-equity loans would have to cough up roughly $3 billion more. Now that's inflationary...
...hope for us baby-boom parents. Schools nationwide have abandoned the Chivas Regal ethos of the 1980s as they cope with sharp increases in demand for financial aid and the first signs that some high-caliber students are choosing to attend flagship public universities rather than go into eternal debt...