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    Debt and the American Experience

    Household debt has doubled since 2003. American households are now $14.56 trillion in debt (still far less than the U.S. government’s whopping $28 trillion) which shakes out to around $118,000 per household, according to Visual Capitalist. The chart below helps orient us to how the $14 trillion in…
    Brooke Medina, June 9, 2021
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    GA Considers Taking Options from People in Financial Straits

    The response to the COVID-19 outbreak has caused an economic downturn in America. Many businesses and families will likely have to make difficult choices about their finances for months – potentially years – to come. One option available to many North Carolinians is debt settlement, a private alternative to filing…
    Brenee Goforth, September 4, 2020
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    Budgets: Contrasting Cooper’s and the General Assembly’s Proposals

    Both the General Assembly and Dem. Gov. Roy Cooper have shared their budget priorities this week. They both tackle the same issues, but with very different methods. For instance, on the issue of education, Cooper wants to cut the Opportunity Scholarship program and give teachers a bonus, while the General…
    Brenee Goforth, September 3, 2020
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    RIP $3 Million in Carolinian Medical Debt

    For roughly the past year, JLF’s Jordan Roberts has been working with RIP Medical Debt to erase nearly $3 million in medical debt for North Carolina and South Carolina families. In his latest research brief, Roberts explains how this private philanthropy rescues low-income families from burdensome medical debts by purchasing…
    Brenee Goforth, February 18, 2020
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    Columbus County commissioners approve bailout of public schools

    WECT reports that Columbus County commissioners approved a plan to give Columbus County Schools $500,000 to relieve some of the district’s debt burden.  Whiteville City Schools will receive $200,000 due to a state law that requires city districts to receive comparable per-student funding to county systems. In April, WECT…
    Terry Stoops, August 24, 2018
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    Mortgage Interest Deduction

    Jonathan Gruber may not have the best reputation for open and honest policy-making because of his role in creating ObamaCare, but he continues to provide interesting economic analysis. His latest working paper finds that the mortgage interest deduction does little to promote home ownership. Instead, it induces people to…
    Joseph Coletti, July 24, 2017
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    8 in every 10 Americans are in debt

    Pew Charitable Trusts released a report which examined debt through the generations.  Below are some of the key findings from the report.  Click on this link if you want to read more details about the report. Key Findings 8 in 10 Americans have debt, with mortgages the most…
    Sarah Curry, July 30, 2015
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    How Much Debt does McCrory want to Issue?

    Last night in the State of the State address, McCrory laid out some of his plans for the upcoming legislative session.  Not surprising, he suggested issuing bonds to pay for transportation and he elaborated on his previously stated objectives of improving outdated state infrastructure.  What needs to be addressed is…
    Sarah Curry, February 5, 2015