American credit card defaults have surged to the highest levels since the aftermath of the 2008 financial crisis, as consumers continue to grapple with years of high inflation. In the first three quarters of 2024, credit card lenders wrote off $46 billion in delinquent loan balances, marking a 50 percent increase from the same period last year. These write-offs, considered a highly monitored measure of loan distress, are the highest since 2010, according to industry data gathered by BankRegData.
President Joe Biden paid tribute to former President Jimmy Carter, who passed away Sunday at the age of 100. Speaking from the U.S. Virgin Islands, Biden called Carter a "remarkable leader" and "decent" man, praising his legacy as a humanitarian and statesman.
Reports suggest that Joe Biden privately regrets his decision to withdraw from the 2024 presidential race and believes he could have defeated Donald Trump in a rematch.
Outgoing West Virginia Sen. Joe Manchin expressed strong disapproval on Thursday over President Joe Biden's decision to commute the death sentences of two men convicted in the brutal 2002 murder of Samantha Burns, a 19-year-old student at Marshall University. The two men, Brandon Basham and Chadrick Fulks, had been sentenced to death for their roles in Burns' killing. On Monday, as part of a larger commutation effort, Biden reclassified their sentences from execution to life in prison without the possibility of parole, along with 35 other inmates on federal death row.
