The latest "100-year" economic crisis to affect the global economy, which lately seems to occur every seven to eight years,
is the Euro-Zone debt crisis. The culprit: Too much borrowing and spending during the last decade.
Over the past few years, U.S. government debt held by the public has grown rapidly—to the point that, compared with the total output of the economy, it is now higher than it has ever been except during the period around World War II.
WASHINGTON (7/29/15 UPDATED 2:18 p.m. ET)--The Federal Open Market Committee is maintaining the federal funds rate, citing “moderate” expansion of U.S. economic activity in its post-meeting statement this afternoon.
WASHINGTON (7/29/15 UPDATED 1:30 p.m. ET)--In another state legislative victory that CUNA and the Illinois Credit Union League say underscores the value of the CUNA-league structure in advocating for credit unions, Illinois Gov. Bruce Rauner signed HB 2477 into law Tuesday.