Published May 21, 2024 3:50pm EDT

High inflation is still a burden to Americans – especially parents, Fed survey shows
65% of US adults said chronic inflation made their financial lives 'worse' in 2023

By Megan Henney FOXBusiness

High inflation continued to inflict financial pain on many Americans at the end of 2023, even as price pressures within the economy gradually cooled, according to Federal Reserve data published Tuesday.

Findings from the Fed's Economic Well-Being of U.S. Households report for 2023 show that chronic inflation made financial lives "worse" for about 65% of U.S. adults. Among those respondents, 19% said their financial situation was "much worse" due to higher prices.

And while 34% of respondents said their family's monthly income had climbed in the past year, 38% reported their spending had also increased.

About three-fourths of adults – 72% – said they were doing "OK" financially as of October 2023 – down from 78% in 2021 and the lowest rate since 2016. That number is much lower among parents. The share of parents doing at least "OK" financially fell 5 percentage points to 64%, the lowest level since 2015 when the survey began.

While inflation has fallen considerably from a peak of 9.1% notched during June 2022, it remains well above the Federal Reserve's 2% goal. On top of that, prices are up a stunning 19.4% since January 2021, before the inflation crisis began.

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https://www.foxbusiness.com/economy/high-inflation-still-burden-americans-especially-parents-fed-survey-shows

Updated May 22, 2024 5:25am ED

Biden admin announces $7.7B student debt handout for 160K borrowers

The Biden administration has cleared a total of $167 billion in student loan debt for 4.75 million Americans, the Department of Education said

By Landon Mion FOXBusiness

The Biden administration announced another massive round of student debt handouts Wednesday morning with $7.7 billion going toward clearing debt for more than 160,000 borrowers.

Three categories of borrowers are covered in the latest handout: people receiving Public Service Loan Forgiveness (PSLF), people signed up for President Biden's Saving on a Valuable Education (SAVE) Plan who are also eligible for its shortened time-to-forgiveness benefit and people receiving forgiveness on income-driven repayment (IDR) as a result of fixes made by the administration.

It includes $5.2 billion for 66,900 borrowers through fixes to PSLF, $613 million for 54,300 borrowers through the SAVE Plan that will go to borrowers enrolled in the SAVE Plan who had smaller loans for their postsecondary studies and $1.9 billion for 39,200 borrowers through administrative adjustments to IDR payment counts, the Department of Education said in a press release.

As of Wednesday's announcement, the Biden administration has cleared $167 billion in student loan debt for 4.75 million Americans, the DOE said.

"The Biden-Harris Administration remains persistent about our efforts to bring student debt relief to millions more across the country, and this announcement proves it," Secretary of Education Miguel Cardona said in the release. "One out of every 10 federal student loan borrowers approved for debt relief means one out of every 10 borrowers now has financial breathing room and a burden lifted."

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https://www.foxbusiness.com/politics/biden-admin-announces-7-7-billion-student-debt-handout-160k-borrowers

Fani Willis says no one above or 'beneath' the law, plans on drinking Grey Goose to celebrate re-election
Fani Willis said she would celebrate her win by drinking Grey Goose vodka
By Sarah Rumpf-Whitten Fox News

Fani Willis, the prosecutor in the sweeping Georgia election interference case against former President Donald Trump, said no one is above or "beneath" the law in her victory speech, sharing that she plans on celebrating with vodka.

The Georgia district attorney has been on the receiving end of scrutiny by many Republicans in the state and nationwide for her affair with special prosecutor Nathan Wade, which almost got her removed from the case.

After defeating Democrat attorney Christina Wise Smith, Willis shared her vision in her victory speech on Tuesday night.

In her speech to a crowd of boisterous supporters, the Democratic district attorney said that no one is above or "beneath" the law, in an apparent nod to her prosecution in the Trump trial.

"It's a message that is p---ing folks off, but there is no one above the law in this country nor is there anyone beneath it," Willis said.

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https://www.foxnews.com/politics/fani-willis-says-no-one-above-beneath-law-plans-drinking-grey-goose-celebrate-reelection

“it will stabilize in the next year or so.”

How absurdly asinine.  Janet, you ignorant slut.

If you and Biden were gone inflation would be gone too. 

 
18th Airborne orders soldiers on staff duty to get 4 hours of sleep
Sleep deprivation for service members is a recurring issue for the military.
By Riley Ceder
 May 21, 2024, 10:45 AM

 
The 18th Airborne Corps published a memo over the weekend that says soldiers on staff duty have to sleep for at least four consecutive hours.

The memo lays out the logistics for who’s in charge of making sure soldiers clock out to take their slumber and explicitly states that units can’t hold soldiers past their shift to sleep. Typically, during staff duty, soldiers man the front desk and conduct checks of unit headquarters within their unit’s area of operation.


Maj. David Nixon, an operations officer for the 18th Airborne Corps, recommended the sleep guidelines as part of his field officer of the day duties, according to Capt. Victoria Horn, an Army spokesperson. The duties require him to identify issues and recommend solutions.

https://www.militarytimes.com/news/your-army/2024/05/21/18th-airborne-orders-soldiers-on-staff-duty-to-get-4-hours-of-sleep/