Depending on the methodology that’s used to determine the underfunded position of state public pension plans, the number as of 2015 ranged from a staggering $1.7 trillion to an unfathomable $5.2 trillion! To put that into context, the national debt of the United States is currently about $20 trillion. But why is there such a great […]
Yesterday, May 2, the Puerto Rico Government Development Bank defaulted on approximately $422 million in debt payments! Long in fiscal disarray, this missed payment by Puerto Rico was merely the opening salvo in the Island’s debt crisis as over the summer approximately $2 billion more is going to be coming due. Consider for a moment why […]
Some of the days most important business headlines plus the U.S. economic calendar for the week of May 2, 2016! Puerto Rico says will default on Government Development Bank debt Monday Q&A: Puerto Rico’s debt crisis explained Asian Stocks Slide After Yen Caps Biggest Gain Since 2008 Crisis New York’s minimum wage hits Domino’s Why […]
