Divorce continues to take a psychological toll on kids – Divorce rates are down, with marriages becoming more enduring in the last decade. But are we getting any better at managing the effect on children?

Explainer: Municipal bankruptcy – There are some legal reasons. For one thing, Chapter 9 bankruptcy wouldn’t apply, as states are their own sovereign governments, not legal corporations like municipalities. Also, if a state declared bankruptcy, it would be under control of a federal court, which would violate the state’s rights clause in the Constitution.

US household debt rises to $12.29 trillion in Q2: NY Fed survey – U.S. household debt hit $12.29 trillion in the second quarter, up $434 billion from a year earlier as auto loans and credit card debt increased, a Federal Reserve Bank of New York survey showed on Tuesday.