Biden’s Student Loan Forgiveness Plan Might Cost Up to $1 Trillion
President Joe Biden’s plan to erase student debt and modify payments for millions of Americans could cost as much as $1 trillion, according to budget analysts.
debt
Federal Debt Has Now Climbed $3 Trillion Under Biden
The federal debt has now increased by more than $3 trillion during President Joe Biden’s time in office, according to the numbers published by the U.S. Treasury on its “Debt to the Penny” webpage.
Biden announces cancellation of student debt
President Biden responded to pressure from progressives on Wednesday by canceling $10,000 in student debt for borrowers who earn less than $125,000 per year and $20,000 in debt for those who received Pell Grants.
Household debt exceeds $16 trillion in second quarter of 2022
Total household debt increased by $312 billion (2%) to $16.15 trillion in the second quarter of 2022, the Federal Reserve Bank of New York’s Center for Microeconomic Data said in its Quarterly Report published Tuesday.
Three in four millennials are more than $100,000 in debt: report
A large majority of millennials have accumulated over $100,000 in debt outside of a mortgage, according to a recent study.
States owe nearly a trillion dollars in liabilities on top of unfunded pensions, report shows
Unfunded state debt for things like retired public employees health care coverage continues to balloon to an unsustainable level, according to a new report.
Russia defaults on foreign debt for first time since 1918 following sanctions
Russia defaulted on its foreign-currency sovereign debt for the first time in more than a century after failing to make two payments by the Sunday night deadline.
Sri Lanka Has New Leader As Violence Spreads
Bankrupt Sri Lanka appointed a new prime minister hoping to quell worsening civil unrest in which at least nine people died this week, and more than 300 were injured.
Former Christian Hostages Graduate In US
A Christian charity hopes that the graduation of two young women who were among hundreds of Christian schoolgirls kidnapped in northeast Nigeria will encourage persecuted Christians.
As economy contracts, Biden considers canceling student loan debt
President Joe Biden is considering canceling student loan debt for millions of Americans, a move critics say could increase inflation and further exacerbate the nation’s economic woes.
Twitter Accepts Elon Musk’s $44 Billion Takeover
Multibillionaire Elon Musk clinched a deal to buy Twitter (TWTR.N) for $44 billion on Monday in a move that conservatives and Christian influencers hope will bring back freedom of speech to the platform.
Musk Secures $46.5 Billion Funding to Buy Twitter Raising Hopes Of Free Speech
Multibillionaire businessman Elon Musk has secured $46.5 billion to buy Twitter, a move conservatives hope will bring back freedom of speech to the American microblogging and social networking service.
Sri Lanka Christians Pray After Buddhist Attack
Evangelical Christians in bankrupt Sri Lanka were weighing their options Friday after new details emerged of a Buddhist mob storming a church and injuring one believer.
Bankrupt Sri Lanka Asks Expats For Help
Sri Lanka has urged its citizens overseas to send home money after announcing a default on its $51 billion foreign debt amid anti-government protests.
Biden extends student loan repayment freeze through August
President Joe Biden announced Wednesday that the repayment freeze on federally held student loans would be extended through August.
As debt climbs to $31T, Dems eye new version of Biden spending bill with Manchin’s support
The Democrat-led Congress might still be able to garner enough votes to pass President Biden’s massive spending package, despite already raising federal spending by more than 6% and presiding over record deficit and debt levels.
Russia on verge of $150B debt default as sanctions cripple economy
Russia is spiraling closer to a historic debt default that could ripple throughout the global economy after the U.S. and its European allies hit the Kremlin with a slew of crippling financial sanctions.
US President Imposes Sanctions On Russia As Troops Enter Eastern Ukraine
U.S. President Joe Biden announced new economic sanctions against Russia Tuesday after Russian President Vladimir Putin moved troops into two pro-Moscow separatist areas of eastern Ukraine.
National debt passes $30 trillion for the first time in U.S. history
The U.S. national debt passed $30 trillion for the first time in U.S. history on Tuesday, according to Treasury Department data.
Debt Up $2 Trillion in 1 Year of Biden
When President Joe Biden was sworn in on Jan. 20, 2021, the federal government’s debt stood at $27,751,896,236,414.77. When his first year in office ended on Jan. 20, 2022, it stood at $29,867,021,509,573.92.