Tagged: debt

WASHINGTON (AP) -- With tacit support from President Barack Obama, House Republicans are moving to try to defuse a potential debt crisis with legislation to prevent an economy-rattling fiscal crisis for at least three months.

The GOP legislation marks a tactical retreat by House Speaker John Boehner, R-Ohio, who is eager to avoid a potential first-ever default on U.S. payment and debt obligations as he wrestles with Obama and his Democratic allies over taxes, spending and the deficit.

ALBANY, N.Y. — The New York comptroller says the state government's debt has topped $63 billion, with New York on track to approach its borrowing limit in early 2014.

Comptroller Thomas DiNapoli says Monday the debt burden, averaging $3,253 per resident, is almost three times the national median. New York's debt is second only to California's $96.4 billion in state-funded debt and 80 percent higher than New Jersey, which is in third place.

Vermont's U.S. Representative Peter Welch is compiling stories about student debt.  WAMC's North Country Bureau Chief Pat Bradley reports... 

Welch was at the University of Vermont on Monday where he met with students, some of whom are working multiple jobs and studying full time as they accumulate student loan debt.

Vermont's U.S. Representative Peter Welch is going to be compiling stories about student debt.

Welch is going to be at the University of Vermont on Monday where he will launch an initiative to compile stories from Vermont students and families about the burden of student loan debt.

In Vermont, almost 70 percent of college graduates have an average of $30,000 in debt.

Student debt is topping $1 trillion dollars, exceeding credit card debt.