Trump admin to go after pensions, wages and tax returns to claw back student loan debt
WASHINGTON – The Trump administration announced Tuesday that it will chase pensions of people who seized wages and refuse to pay back federal student loans that defaulted. “The government can collect defaults on federal student loan obligations by withholding money from borrowers, tax refunds, federal pensions and even wages. The education department had announced a […]
Student loans in default will be referred to debt collection next month: Trump’s DOE
The Department of Education announced Monday it will resume its collection of student loan debt for next month, including decorating wages for default borrowers. The collection, which has been suspended since March 2020, will resume on May 5th and is expected to affect around 5.3 million borrowers now with federal student loan defaults. “U.S. taxpayers […]
DoEd to Restart Involuntary Student Debt Collection After Pandemic Pause
The Department of Education (DOED) is preparing to resume unwilling debt collections for its default federal student loan portfolio after suspending collections during the Covid-19 pandemic, the department announced Monday. The Federal Student Aid Agency (FSA) will officially resume collections of its default federal student loan portfolio on May 5th. Until then, default borrowers have […]
Why Trump’s Treasury sec would have zero interest in using ‘forever bonds’ to refinance the nation’s staggering debt
Among the crazy things being discussed on the edge of the Trump economic team these days is the issue of “eternal bonds” to refinance the country’s incredible debt, and the Post has learned to do so as part of current trade negotiations. I have been asserted by people close to Treasury Secretary Scott Bescent, Trump’s […]
Trump pitch to use tariffs to pay down debt a ‘chancy bet’
President Trump and his officials have promoted his sweeping tariff actions as a tool to ensure fair international trade, as well as to repay the federal government’s $36 trillion in debt. As Trump faces pressure from both sides of the aisle on his trade plans, he and officials have partially defended his tariff actions as […]
Joni Ernst Proposes to Sell Millions of Dollars of IRS Firearms to Pay Off National Debt
Sen. Joni Ernst (R-IA) introduced a law Monday that would sell millions of dollars in Internal Revenue Service (IRS) firearms to pay government bonds. As America approaches tax day on Tuesday, Ernst introduced the reasons why the IRS needs to reform the way they handle guns. The Iowa Senator introduced the law after reporting that […]
GOP lawmakers’ budget framework will raise debt limit, pass Trump border, energy and tax bill all before June
WASHINGTON – Congressional Republicans are moving forward with plans for a re-appointed budget resolution that sets different thresholds to cut federal spending, but they still aim to raise the country's debt limits to trillions, and pass President Trump's border, energy and tax priorities by anniversary. House Gop Aide told the Post that “target cuts” in […]
Congress must act by August to prevent debt default, CBO warns
The federal government was able to default on its obligations immediately in August without action from Congress, the Congressional Budget Office (CBO). Estimated on Wednesday. The latest forecasts say the nonpartisan budget scorekeeper said Wednesday morning that Congress must act to raise or suspend debt caps by August or September, but that deadlines could change […]
Debt limit time crunch could test both parties
House Democrats are sending early warning shots to close the government's borrowing window. Winning democratic support for raising the debt cap is expensive for Republicans. While minority Democrats have little power to decide the debate, many conservative Republicans have long opposed the rise in debt restrictions to protest deficit spending. Dynamics says it could give […]
The Debt Limit Showdown: Why Democrats Mustn’t Prop Up Republian Defeat in the Name of Bipartisanship
Sen. Ron Wyden (R-Ore.) stated on Monday that Democrats shouldn’t aid Republicans in addressing the debt ceiling in the Congress. "The economic agenda for Trump and Republicans is to drive debt, impose pain on working families, and enrich billionaires like Elon Musk even more," a ranking member of the Finance Committee said in a statement […]