Tag Archives: default

The federal government is liable for approximately $850 billion in student loans, and the number of borrowers defaulting on these loans is on the rise.

The day of reckoning looms: The federal government is liable for approximately $850 billion in student loans, and the number of borrowers defaulting on these loans is on the rise.

Conservative revolt in the House over GOP plan

A conservative revolt in the House over the GOP debt ceiling plan.

Based on the article above, it doesn’t look like any plan has sufficient votes to pass, which means the federal government is going to have to figure out what it’s like to live under a budget. What a concept!

Obama plans birthday bash costing almost $40k per ticket on default day

Tone deaf: Obama is planning a birthday bash fundraiser for himself costing more than $35k per ticket on August 3, the day the debt limit is reached and could default.

Oscar winner Jennifer Hudson is expected to perform at the birthday bash at the historic Aragon Ballroom in Chicago. The event will be one of the president’s biggest fundraisers of the year. Publicity literature featuring a red, white and blue Happy Birthday logo has already been produced. The event will be “multi-tiered,” the Chicago Sun-Times reported. The Hudson concert would cost $50; admission to the party $200; a premium seat $1,000; a souvenir photo with the president $10,000; and VIP seating and dinner with Obama $38,500.