Worried about the growing debt? You can help. In a little-known cranny of the Treasury’s website, the government asks for the help of everyday Americans in repaying the total public debt, which it tallies at a startling $11.3 trillion (or 80 percent of GDP).
American International Group CEO Edward Liddy was under the klieg lights Wednesday for paying $165 million dollars in retention bonuses to employees who are “winding down” the company’s notorious Financial Products division, known as AIG FP.
Thanks to a big jump in government spending, the U.S. economy didn’t shrink quite as dramatically as expected. While investors breathed a sigh of relief over the relatively modest 0.3 percent decline in third-quarter GDP, a look behind the numbers shows the main pillar of the economy crumbling.