According to a report from the research arm of Congress, American International Group, one of huge financial institutions to experience extremely dire straits as a result of the financial crisis, has reached a point of stability. However, the same report has raised doubts concerning whether or not AIG will ever be able to restructure and pay back the money it borrowed from the government.
 
This report from the Government Accountability Office came at the same time as Representative Edolphus Towns of New York was preparing to raise the possibility of renegotiating A.I.G.’s debt. Towns, the chairman of the House Committee on …read more

According to a government report released today, struggling states have been using their piece of the stimulus money pie to solve immediate problems, rather than to establish the framework for fiscal strength in the future. The Government Accountability Office report reveals that many states have been divesting money from long-term programs to prevent layoffs and keep state initiatives afloat.
 
One of the hardest-hit sectors of most states is education, with states funneling money from education to other needs. School district officials across the country have expressed their concern over the lack of funding that has left many of them unable to …read more