WILFORD: The Debate Was Devoid Of One Of America’s Most Pressing Issues — National Debt
Whoever wins the 2024 election will have a thankless task ahead of them: figuring out how to get through an extension of a tax cut bill that no one is willing to throw out the window in its entirety, while keeping in mind a looming and growing national debt crisis. This task is hard enough […]
Tracking debt: Which generation owes the most?
(News Nation) — Mortgages are Household debt but, New Analysis Most Americans owe thousands of dollars in debt beyond their mortgage, with Gen Xers showing the highest debt loads. According to online lending marketplace LendingTree, the median non-mortgage debt in the 100 largest U.S. metropolitan areas is $24,668. Gen Xers (ages 44 to 59) had […]
Michael Jackson was $500 million in debt when he died: new court docs
New court documents reveal that Michael Jackson was $500 million in debt at the time of his death. The “King of Pop” died 15 years ago, at the age of 50, from cardiac arrest due to “acute propofol intoxication.” According to court documents, the “Thriller” hitmaker owed money to more than 65 creditors at the […]
JAMES CARTER: America’s Debilitating Federal Debt Spiral
The Congressional Budget Office (CBO) recently issued yet another report on the rapidly deteriorating state of the federal government’s finances. As Douglas Holtz-Eakin, a former CBO director, commented upon the report’s release: “The federal budget journey has arrived in Bleak with the fiscal course set for Hopeless. There needs to be a reset of the budgetary GPS, […]
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 […]