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Typo Adds More Than $13B to Country’s Debt

Oct 4, 2013, 12:49 pm EDT

It was an embarrassing confession for Spain’s economic ministry.

Just days after it released an estimate of size of its national debt, the Spanish government retracted the figure, calling it an error. The government first said that its debt would be 99.8% of the nation’s GDP in 2014. The real figure was $1.53 trillion, or 98.9% of all economic output, AFP notes.

The variance between the two figures translates into $14.5 billion. Spain, the eurozone’s fourth largest economy, has struggled with a weak economy and rising debt for several years. Read 

What Will Happen If The US Defaults On Its Loans

Oct 4, 2013, 11:20 am EDT

If Congress fails to increase the borrowing of the U.S. government — in effect, telling its creditors that it will not pay back on loans that it has already borrowed — the effects could be rapid and drastic.

But what will happen if the US defaults on its loans? Here is a look at what goes on in the next few weeks if Congress does not vote to increase the debt ceiling (via Reuters).

On OCT. 17 Read 

VIDEO: Watch Tea Party Congressman Blame Park Ranger for Memorial Shutdown

Oct 4, 2013, 9:18 am EDT

Ah, Congress. It”s best to shift the blame for a government shutdown on anyone available. Hey, look, a Park Service Ranger!

A Tea Party Congressman, Rep. Randy Neugebauer, visited the World War II Memorial and blamed a ranger for denying access to veterans who wanted to visit the memorial (all National Parks, including the memorial, had to be closed when the government shut down).

“How do you look at them and … deny them access?” Rep. Neugebauer asks the unidentified ranger. Read 

Wendy Davis Announces Run for Texas Governor

Oct 3, 2013, 7:36 pm EDT
Wendy Davis Announces Run for Texas Governor

Months after a 13-hour filibuster against an abortion bill vaulted her into the public’s eye, Texas state Sen. Wendy Davis has announced she will run for governor in 2014.

In June, Davis managed to temporarily stall a bill in Texas’ legislature that would have severely limited women’s ability to get abortions in the state. And while Gov. Rick Perry eventually called a special legislative session in July that ended with the bill being passed, Davis got national attention for her efforts.

Davis announced her plans to run in the coliseum in which she received her high school diploma 32 years ago. “We’re here because we care about Texans, and we’re here because we believe it’s time to give all Texans a voice in their future and a place in Texas’ future,” she said. Read 

Ignore America’s Debt Ceiling Doomsday Headlines

Oct 3, 2013, 1:38 pm EDT
Ignore America’s Debt Ceiling Doomsday Headlines

If a debt ceiling debacle happens, it really will be doomsday.

But it won’t happen.

The U.S. government is going to run out of money sometime in the middle of the month if Congress doesn’t raise the debt ceiling. That means the U.S. is at serious risk of defaulting on its debt, because it won’t have the cash to make interest payments on Treasury bills, notes and bonds. Read 

Free Stuff Being Offered to D.C.’s Furloughed Workers

Oct 2, 2013, 1:04 pm EDT

About 800,000 government workers have been furloughed due to the first government shutdown in 20 years, but there is a silver lining to this calamity.

ABC News reports that a lot of businesses are offering free food, drinks and fun activities for federal employees who are temporarily out of work due to the shutdown. Jose Andres Sandwiches, Pork Barrel BBQ and Z Burger are among the restaurants offering free food for government workers for the duration of the shutdown as long as they show their ID.

There are also several bars in the D.C. area offering drink specials including Duffy’s Irish Pub on U St., beer garden D.C. Reynolds on Georgia Ave. and The Daily Dish in Silver Springs. The National Geographic Museum is among the tourist and family attractions offering free admission for a limited time along with The National Museum of Women in the Arts. Read 

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