President Joe Biden made a series of false claims as he addressed the largest federation of labor unions, saying families have more savings and less debt since he took office.
A Federal Reserve study showed California's back rent is estimated to reach almost $1.7 billion by year-end, or almost one-fourth of the total rental debt across the nation.
Millennials and young adults are careful with debt and credit cards, and some avoid credit cards completely. Many of these individuals believe being financially successful means being debt-free.
Puerto Rico will take the next step in efforts to resolve its fiscal crisis on Jan. 29 by presenting investors with an offer to swap existing bonds for two new types of securities.
New York officials will make a one-day trip to Puerto Rico to discuss the island's economic and health crisis. New York Gov. Andrew Cuomo leads the delegation comprising of the state's elected officials and Medicaid experts.
The Texas Bond Review Board indicated the state's total local debt grew by $5 billion as the Lone Star State is having trouble compensating National Guard troops sent to the border.
David Tawil of Maglan Capital, which owns some of Puerto Rico's debt, stated in an interview earlier in March that he believes the U.S. territory won't default, and that $2-3 billion of financing will quell the financial pressure. Puerto Rico has a deal of fruitful, robust double-digit returns on tax-free bases, but poorly-run finances have lead to its current economic status.
Puerto Rico’s economic crisis features a shrinking economy and a declining population, with 15 percent unemployment rate to boot. In laymen’s terms, things aren’t looking too good for the high income economy territory with the poverty rate of 41%.
