Interest costs on US national debt set to exceed defense spending this year
Economist Peter Morisi breaks down what the national debt is, why it has ballooned to more than $34 trillion, and what it means for Americans. The sharp rise in interest rates over the past year may cause some collateral damage to the U.S. government’s finances. Because when interest rates rise, federal borrowing costs Debt will […]
Florida home prices fall over surging insurance costs
The insurance crisis hitting the Sunshine State has caused a surge in excess inventory and sent home prices plummeting along Florida’s southwest coast. Real estate agents said rising home insurance prices are deterring would-be snowbirds from buying property in the popular corridor between Sarasota and Naples. Prospective buyers are spooked as insurance premiums have risen […]
Mortgage rates climb again as high housing costs persist
Conference Board Chief Economist Dana Peterson says in Making Money that the LEI is great for the commodity economy. Mortgage rates rose again this week as housing inflation continues to rise, adding further illumination for weary would-be buyers and sellers. Freddie Mac’s latest primary mortgage market study, released Thursday, found that the average benchmark interest […]
Surging auto insurance costs are fueling higher inflation
Former Assistant Secretary of the Treasury Monica Crowley talks about the strain inflation is having on the middle and lower classes on “The Bottom Line.” Rising auto insurance premiums are fueling high inflation and continuing to put financial pressure on millions of households across the country. Consumer prices rose 0.3% Labor was up 3.1% in […]
Seized Russian yacht faces sale over $600K monthly costs covered by taxpayers
The US government asked a judge to allow the sale, citing the fact that maintaining a Russian superyacht worth $300 million that was seized in 2022 is costing taxpayers $600,000 a month. . The hefty monthly fee includes $360,000 in payments to the 348-foot ship’s crew, plus $75,000 in fuel costs, waste removal and food […]
GINN: Healthcare Costs Are Straining Federal And Household Budgets. Here’s How Biden Can Rein Them In
Medical costs continue to rise, and economic constraints are becoming even more severe. household and government safe. As the federal government struggles to rein in spending amid mounting debt, families are forced to make difficult choices between paying essential medical bills and meeting basic needs. These rising costs of health care must be addressed through […]
Hershey announces job cuts after high cocoa costs hurt candy sales
Hershey announced layoffs Thursday, reporting a hit to its quarterly profit as soaring cocoa prices and inflation-weary shoppers refrained from buying the company’s expensive chocolate and candy. The Pennsylvania-based company announced it will cut 5% of its workforce, resulting in up to $60 million in severance pay. It was not immediately clear how many jobs […]
There are better ways to address drug costs than importing socialized medicine
Currently, Johnson & Johnson, Merck, and Bristol-Myers Squibb are testify Before the Senate Health, Education, Labor and Pensions (HELP) Committee. Hearing what pharmaceutical company executives have to say about drug prices is usually valuable training. But under the proverbial interrogation lamp of HELP Committee Chairman Bernie Sanders (Vt.), the trial will more closely resemble the […]
Valentine’s Day dinner served inside ancient jail costs $215
If marriage is a prison, why not spend Valentine’s Day behind bars? The warden of an old British prison is offering upscale dining to adventurous couples behind closed doors for about $215. Jam Press report. From February 14th, England’s Oxford Gaol (which was a working tower in the time of William the Conqueror 1,000 years […]
2023 was the hottest year on record, driving up utility costs and homeowners insurance prices
Rising temperatures could lead to more natural disasters, leading to more insurance claims and higher interest rates. (iStock) Global temperatures are rising, and last year was the hottest year on record. Copernicus Climate Change Service. As temperatures rise, so does the cost of cooling your home. Last summer, natural gas consumption reached an all-time high. […]