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.
Rep. Andy Harris (R-MD), Chair of the House Freedom Caucus, told Fox Business that the House GOP needs to consider if new leadership is needed to advance President-elect Donald Trump's agenda.
Wikipedia’s 2023-2024 annual budget report has revealed that over $50 million of its $177 million budget was allocated to Diversity, Equity, and Inclusion (DEI) initiatives. This revelation has sparked widespread criticism, with calls for users to stop donating to the platform until it disbands its “woke” policies. Among the critics is Elon Musk, owner of X and co-head of the Department of Government Efficiency (DOGE), who has voiced strong disapproval of Wikipedia’s editorial practices and its perceived left-wing bias.
Senate Democrats in Washington are advocating for new taxes to address a looming $16 billion budget shortfall, as revealed in a leaked email sent by Sen. Noel Frame (D-Seattle). The email, sent shortly after Governor Jay Inslee’s announcement of the shortfall, outlines additional taxes beyond those proposed by Inslee, which include a new wealth tax, a temporary 20% business surcharge, and an increase in business and occupation (B&O) tax rates.
Rep. Kay Granger, a longtime Republican congresswoman from Texas, has been located in a memory care nursing facility after being absent from the Capitol for six months.
