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US national debt reaches a record $37 trillion, the Treasury Department reports

The $37 trillion update is found in the latest Treasury Department report issued Tuesday, which logs the nation’s daily finances. The national debt eclipsed $37 trillion years sooner than pre-pandemic projections. The Congressional Budget Office’s January 2020 projections had gross…
Editorial News

New home sales soar 20% in August to a three-year high

Sales of newly built homes rose a much larger-than-expected 20.5% in August compared with July to the highest level since January 2022, according to the U.S. Census. It is also the largest one-month gain since August 2022. Sales were 15.4%…
Government News

Debt struggles are hitting consumers at all income levels — it’s a ‘tipping point,’ expert says

As credit card debt ticks higher, there are more signs that consumers — even those with higher incomes — are struggling to manage their balances. Credit card debt hit $1.21 trillion in the second quarter, in line with last year’s all-time high, according to…
Bankruptcy News

Credit card debt reaches $1.21 trillion — in line with last year’s all-time high, NY Fed finds

Credit card balances are ticking higher in 2025, according to a new quarterly report on household debt from the Federal Reserve Bank of New York. Balances rose by $27 billion in the second quarter to a collective $1.21 trillion — in line with…
Educational News

Here’s who qualifies for the Trump administration’s latest round of student loan forgiveness

In recent weeks, some federal student loan borrowers have received welcome news: The U.S. Department of Education will soon cancel their remaining debt. “You are now eligible to have some or all of your federal student loan(s) discharged because you have reached…
Editorial News

‘America’s Deficit Reckoning’: How the U.S. debt spiral could spark a crisis

Independent analyses — by sources ranging from Yale University to the Wharton School to the Congressional Budget Office – have each said that President Donald Trump’s budget plan will add trillions of dollars to the U.S. deficit over the next 10 years.  What’s at stake if…
Bankruptcy News

Del Monte, the canned fruits and vegetables company, seeks bankruptcy protection

Del Monte Foods, the 139-year-old company best known for its canned fruits and vegetables, is filing for bankruptcy protection as U.S. consumers increasingly bypass its products for healthier or cheaper options. Del Monte has secured $912.5 million in debtor-in-possession financing that will allow it to operate normally as…
Legal News

Can medical debt affect your credit?

Americans are carrying a staggering $220 billion in medical debt, according to the American Hospital Association, with 14 million (6%) owing over $1,000 and 3 million (1%) in the hole for more than $10,000. More than half (58%) of accounts in collections…
Educational News

Federal student loans will still be a ‘better bet’ than private—even with coming changes, experts say

The question of whether college students should take out federal or private student loans to pay for their education may have just gotten harder to answer. That’s due to a number of changes in President Donald Trump’s so-called “big beautiful bill” that will affect…
Editorial News

The Fed held interest rates steady, but some credit card APRs keep going up. Here’s why

Even with the Federal Reserve on the sidelines, credit card rates are edging higher. In June, credit card interest rates rose for the third straight month, hitting the highest level since December, according to a recent report by LendingTree. Now, the average annual percentage rate is just…