The deficit is growing, but now we can bet on — I mean, invest in — Hollywood blockbusters. And Carlos Slim is rich, rich, rich!
-$9.70: The Congressional Budget Office projected this week the Obama Administration policies could add a whopping $9.7 trillion to the national debt by 2020. The biggest contributor to that new debt? Forget reform for health care or student loans. Nope, it's middle-class tax cuts. Ouch, that hurts.
+$18: $9.7 trillion is a loan even Carlos Slim, the world's new richest man, can't cover. (He's only got $54 billion after all.)
-$5: An even more mind-boggling figure out this week: the median wealth for single black American women is $5, according to a new study. For white women, it's $42,600. We've got bigger issues than half-priced Barbies at Wal-Mart.
-$2: The Haiti and Chile earthquakes reminded some homeowners to check on their earthquake coverage. Surprise: premiums have gone up 200%. Where does that register on the Richter scale?
+$50: Two new futures markets may soon let investors wager on movies' future American box office earnings, allowing Hollywood moguls to hedge against big-budget flops. Hmm, risky business or insider trading? Paging Gordon Gekko.
-$85: One new delicacy my palate (and wallet) can do without? Whale meat.
-$1.80: March Madness kicks off Monday, so be prepared not to get a lot of work done. Like $1.8 billion worth of slacking off. Game on!
This week's total: -$35.50. Drat, and here I wanted to hire Kim Jong-Il's personal shopper to show me how the other half live. (The tyrannical dictator half, that is.)
Were you on spring break? Or just dreaming of beaches? Last week's This Week will bring you back to reality.Related Links:
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