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Gingrich once owed $500,000 to posh New York jeweler: report

According to a report by Politico’s Jake Sherman, in 2005 and 2006 former House Speaker Newt Gingrich (R-GA) owed as much as $500,000 to New York-based jeweler Tiffany & Co. — and his spokesman won’t say why. Confronted with questions about the congressman’s less-than-conservative spending on jewelry, Gingrich press secretary…

United States to hit debt ceiling on Monday

WASHINGTON — The debt-laden US government’s credit card will hit its limit Monday, creating a cash crunch that puts the country’s credit standing at risk as politicians battle over its long-term deficit. Reaching the $14.29 trillion ceiling set by Congress will not have an immediate impact on government finances, because…

BOMBSHELL: Greece threatens to quit the euro, emergency EU meeting tonight

by Gregory White Greece’s government is considering leaving the euro and returning to its own currency, according to Der Spiegel. The move comes as a result of austerity measures that have broken the back of the country’s economy, and limited its ability to escape recession. Der Spiegel claims to have…

Republican push to privatize Medicare unraveling

WASHINGTON – Americans concerned about the future of Medicare can breathe a sigh of relief: recent developments on Capitol Hill suggest Republicans are easing up in their push to turn the program into a voucher system. The proposal is a non-starter in the Senate, and unlikely to survive President Barack…

Republicans demand debt ceiling proposal from White House

WASHINGTON (Reuters) – Top Republicans on Wednesday pressed the White House to reveal its proposed terms for a deal to increase the country’s borrowing authority, as officials indicated a $2 trillion hike would be needed to stave off a debt default through the 2012 U.S. elections. With the United States…

Mike Huckabee defends comparing Holocaust to debt crisis

Fox News host Mike Huckabee said Tuesday he would not apologize for comparing the federal debt to those who did nothing to stop the Nazi death camps after he was condemned by a prominent Holocaust awareness group. Over the weekend, Huckabee gave a speech to the National Rifle Association in…

Gold tops $1,500 an ounce for first time

LONDON (AFP) – The price of gold topped $1,500 for the first time on Wednesday as a weaker dollar plus fears over high inflation and debt attracted investors into the traditional safe-haven precious metal. Gold reached $1,505.65 an ounce at 0945 GMT on the London Bullion Market. It later traded…

Top Republican refuses to say if new GOP budget will end corporate welfare

House Budget Committee Chairman Paul Ryan (R-WI) said Sunday that the GOP 2012 budget will exceed even the $4 trillion in spending cuts over the next decade recommended by President Barack Obama’s debt commission. But Ryan wouldn’t commit that his new budget would follow the debt commission’s lead and end…

Tokyo Electric says $24 billion loans not enough

TOKYO (Reuters) – Tokyo Electric Power warned on Wednesday that a $24 billion bank loan was not enough to keep it afloat and pay for Japan’s worst nuclear disaster, adding to expectations the government will step in to bail out the stricken company. Asia’s largest utility, whose share price has crashed nearly…

O’Keefe asks supporters for $50K to pay off his credit card debt

Conservative activist and filmmaker James O’Keefe has racked up about $50,000 in credit card debt and now he wants you to help him pay it off. O’Keefe recently sent an email to supporters claiming that his deceptive ACORN and NPR stings had put him deep in debt. “Up ’til now,…

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