One crisis that isn’t getting very much attention is the U.S. student loan crisis, which is currently sitting at $1.4 trillion. The rate of defaults for these loans is on the rise, which further adds to the concern. Over the past year, more than eight million federal loans have moved from a being in a good-standing position to (more…)
Survey Shows that Most Economists Are Critical of the Republicans’ Tax Bill The Republican tax bill would boost the economy only temporarily, economists and U.S. Federal Reserve analysts agree. Both private-sector economists and Fed analysts have agreed that the Republican tax bill would lead to a growth spurt, but that jump would potentially disappear fast. (more…)
Pacific Investment Management Company LLC believes that 2018 will be a strong economic year, but that a 2019 downturn is on the horizon, partially caused by the GOP tax bill.
The Democrat victory in the Alabama Senate election reveals that deep political turmoil now faced by the GOP. The loss of a Republican senator now reduces the already hair-thin GOP majority to two votes over the Democrats. This means that all it takes to defeat nearly any major Republican legislation–which often divides votes along party (more…)
U.S. student loan debt has skyrocketed to $1.3 billion, equaling the U.S. junk bond market. U.S. student loan debt is one of the riskier types of debt, with higher levels of delinquency. Beyond that, the massive amounts of debt that the country’s college grads accrue by the end of their studies is preventing them from (more…)
Retirees are increasingly ending their working careers with more retirement debt, says a new study from the National Bureau of Economic Research, revealing that America’s seniors are not finding rest in retirement, but are rather faced with bills. Study: Retired Americans Floundering in Debt The study examined Americans on the verge of retirement at three (more…)
The President Says on Twitter That the 401(k) Plans Will Be Untouched, But Not Everyone Is Convinced The Trump tax plan continues to face controversy, this time with concerns that the 401(k) pension-matching plan may face reductions in the new tax overhaul plan, even as the president comes out on Twitter to claim that the (more…)
The Battle Over the Trump Tax Reform Continues to Heat Up BlackRock Inc Chief Executive Larry Fink said that the U.S. tax reform proposed by the White House will be unable to pass Congress as it is currently structured, saying that the plan would add to the deficit.
Most Economists Agree that Tax Cuts Will Widen U.S. Budget Deficit While the Donald Trump administration asserts that its proposed tax plan will boost economic growth in the United States, leading economists in the country beg to differ.
Americans Falling Behind on Student Loan Repayments Economists are perplexed about why more Americans are falling behind in their student debt repayments compared to a year ago. Most economists agree that the U.S. economy has improved since then, which should decrease—not increase—loan delinquencies. According to the U.S. Department of Education, the percentage of Americans who are at least 31 days (more…)