Courts flunk Biden on his student debt amnesty
The lawlessness of President Joe Biden‘s power grabs is made especially clear when even Democratic-appointed judges repeatedly smack them down. Two judges appointed by left-wing former President Barack Obama did so this week, putting Biden’s student loan vote-buying scheme into merited limbo. The even better news is that by upholding the Constitution’s separation of powers, […]
Most Gen Zers are in debt: Analysis
Despite their young age, the vast majority of Gen Z members are in some sort of debt, according to a new analysis from the online marketplace. LendingTree. The median share of Gen Zers living in the 100 largest metropolitan areas with non-mortgage debt is just over 97 percent, according to the analysis. And the median […]
The Foreign Holders of the Ballooning US Debt: They’re Buying, But Don’t Keep Up
Written by Wolf Richter China dumps Treasury securities, the Euro Area, Canada, and financial centers load up with immense appetite. The question that’s on everyone’s mind is how long foreign investors will continue to support the US Treasury debt that has now ballooned to $34.75 trillion and will nail $35 trillion over the next few […]
Arizonans racking up credit card debt: study
A national study found that Arizona cities are suffering from rising credit card debt, with the state ranking 10th overall in outstanding debt. Scottsdale ranked 12th and Gilbert 15th for average debt per household, with $17,502 and $17,305, respectively, according to Wallethub’s research. Peoria and Chandler aren’t far behind, ranking 34th and 40th, respectively, with […]
How the Fed's inflation fight inflames the national debt
The Federal Reserve’s inflation-fighting measures are fueling a rise in the national debt as the central bank prepares to keep interest rates high for a long time. Inflation has fallen sharply since the Fed raised interest rates to their highest level in 20 years last year, but officials remain concerned about how quickly prices are […]
US judges block parts of key Biden student debt plan
President Biden’s latest student loan relief package was blocked by federal courts in Kansas and Missouri on Monday following lawsuits from several Republican-led states. A nationwide preliminary injunction issued by U.S. District Judge Daniel Crabtree in Kansas and U.S. District Judge John Ross in Missouri, both appointees by former President Barack Obama, prevents the Biden […]
Trump added twice as much to the national debt as Biden: Analysis
A new analysis finds that the Trump administration’s fiscal policies pushed the national deficit by twice as much as President Biden’s policies. According to an analysis by the Committee for a Responsible Federal Budget (CRFB), a Washington think tank, the Trump administration borrowed $8.4 trillion during the former president’s term in office, while the Biden […]
How the US national debt is keeping mortgage rates elevated
Economist Peter Morici breaks down what the national debt is, why it has ballooned to more than $34 trillion, and what it means for Americans. Home buyers in the United States Federal Reserve They are eagerly awaiting interest rate cuts that could bring relief from painfully high borrowing costs. But there’s another factor that could […]
Dem staffer blasted for spending habits after going viral for thanking Biden for erasing 8K student debt
A House Democratic staffer who came under fire for praising President Biden after his $8,000 in student loan debt was cancelled is facing even more scrutiny on social media for posts that showed spending habits while earning a salary of more than $90,000 a year. “I think it’s important to be mindful of what’s going […]
Medical debt may come off credit reports soon, helping Americans qualify for more financial products
The CFPB wants to remove medical debt from the credit reports of millions of Americans. (iStock) Medical expenses may soon be removed from many credit reports, the Consumer Financial Protection Bureau (CFPB) said. Proposed the rule The bill aims to remove medical debt from credit reports and prevent debt collectors from using the reporting system […]