Articles Tagged ‘S&P 500’

Echo Bubble

The federal deficit now stands at $12 trillion. Historic. New York State Comptroller Tom DiNapoli issued a statement warning New Yorkers that the state is “on track to spend $4.1 billion more this year than it will take in,” characterizing this deficit as “irresponsible and unacceptable.” On Long Island we are being squeezed by every taxing authority under the sun. But the government isn’t alone. Homeowners across America are underwater with mortgages they cannot afford and drowning in the highest household debt ratio in history.