In the 1930s, America Defaulted on Its Debt. It Could Happen Again.

FDR's Decision to Drop the Gold Standard Holds Resonance Today as Big Bills Come Due

In the darkest days of the Great Depression, President Franklin D. Roosevelt, with support from Congress and the Supreme Court, agreed to wipe out more than 40 percent of public and private debts. With that decisive action, the United States staved off bankruptcy and began to claw its way back to stability and, eventually, prosperity.

But could the default scenario repeat itself—especially now that the United States is shouldering about $22 trillion of debt, plus tens of trillions more in Medicare, Social Security, and unfunded state and local pension obligations?

That unsettling …

What California Can Learn From Stockton’s Debt

The Bankrupted City Underscores the Risk of Unchecked Borrowing Habits

Here’s a new maxim for Californians to live by, courtesy of this election: Don’t dismiss apocalyptic warnings from Stockton.

If you’re a Californian with a television or a mailbox, you’re encountering …

My Secret to Paying Off Student Loans

Slowly but Surely, Through Steady Payments and Infrequent Slices of Spinach Pizza

Twenty years ago, I moved from Redondo Beach, California, to Cambridge, Massachusetts, kicking off a 10-and-a-half year stint at Harvard. I earned two degrees in disparate subjects, ate too many …

Are College Savings Just for Rich Folks?

529 Accounts Are Based on Tax Incentives That Benefit Only Wealthy, But There’s Room for Improvement

College costs have exploded in recent years, and California has been at ground zero. The College Board estimates that tuition and fees for four-year schools in the UC system have …