Credit Card Debt Jumps to Two-Decade High as U.S. Economy Tumbles
Americans are running up credit card debt at historic levels as they struggle with soaring inflation.
Texas judge strikes down Biden’s student debt relief plan
A federal judge in Texas has struck down President Joe Biden’s student debt relief plan to forgive up to $20,000 in federal loans held by tens of millions of borrowers, calling it unconstitutional.
The Government Is Set To Spend More On Debt Payments Than The Entire Defense Budget
Interest on federal debt is set to skyrocket, potentially surpassing defense spending by as early as 2025, CNN reported Tuesday.
US Deficit Soars Thanks to Biden’s Student Debt Forgiveness
The monthly federal budget deficit was up 562 percent from September of last year, according to Treasury Department figures released Friday, mainly due to President Joe Biden’s student debt forgiveness plan.
British Chancellor Sacked After Disastrous Tax Plan
Britain’s embattled Prime Minister Liz Truss fired her Finance Minister Kwasi Kwarteng on Friday and deleted parts of their economic package in a desperate bid to stay in power and reassure markets after financial turmoil.
U.S. Congress could be in for bruising debt-ceiling fight after midterms
If Republicans win control of the U.S. House of Representatives in November’s midterm elections, they expect to use a powerful and potentially dangerous tool as leverage in their dealings with Democratic President Joe Biden: The federal debt ceiling.
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