Congress went on recess this week leaving the United States Postal Service financial crisis, unresolved. At midnight tonight, the Postal Service will default on a $5.5 billion payment it owes to the Treasury Department. This default will not have any immediate effects on day-to-day operations at the Postal Service, but it highlights the financial troubles that the institution, which was created more than 200 years ago by Ben f

President Obama will likely become the first ever incumbent President to be outraised by his opponent in his re-election bid. And in a desperate attempt to even the playing field just slightly before November – the President has been forced to hold endless fundraisers. As the Center for American Progress reveals, President Obama has already held nearly 200 fundraisers during his first term in office. To put that in perspectiv

According to an investigation by Democratic Congressman Elijah Cumming – the ranking member on the House Committee on Oversight and Government Reform – for-profit colleges are paying executives massive salaries – not based on student achievement – but instead based solely on profitability. Looking at 13 different for-profit schools – the investigation found, “the single most significant measure for determining executive compensation at t

After it was the first bank to be hit by the Consumer Financial Protection Bureau for defrauding consumers and ordered to pay $165 million to customers in refunds, Capital One was just hit with another fine. This time – the Department of Justice has ordered the bank to pay out $12 million to members of the military for denying them their legal right under the Servicemembers Civil Relief Act to avoid foreclosures and high interest rates.