money
In 2024, the federal budget deficit is estimated to reach nearly $2 trillion, according to new projections released by the Congressional Budget Office (CBO) this week. In February, the agency predicted that the deficit would only be $1.58 trillion. However, spending increases have caused the projected deficit to increase by $400 billion, a staggering 27 percent hike. According to the CBO, 80 percent of the spike in the deficit can be blamed on four sources of government spending. The largest source, responsible for $145 billion of the increase, is changes to the federal student loan program th...
Reason
This year, the Department of Education created a massive headache for millions of college students and their families when it released an updated version of the Free Application for Federal Student Aid (FAFSA) form that was riddled with technical bugs. Completing the FAFSA form is required for anyone seeking federal grants and loans, as well as institutional financial aid at the vast majority of American colleges and universities. However, despite the form's importance, issues with this year's FAFSA made it nearly impossible to complete for many families and led to a dramatic 13.5 percent decl...
Reason
Government-run schools keep failing. It shouldn't surprise us. Monopolies rarely serve customers well. People call them "public schools," but "government-run" is more accurate. After all, charter schools are available to the public. Privately-run supermarkets are open to the public for more hours than "public" schools are. International tests show American kids don't learn as much as kids in other countries. During the pandemic, they did even worse because our teachers unions kept schools closed. It's even worse in my state, New York, where big government and unions thrive. Here, kids' tests s...
Reason
You have a 15-character password, shield the ATM as you enter your PIN, close the door when you meet with your banker, and shred your financial statements. But do you truly have financial privacy? Or has someone else been sitting silently in the room with you this whole time? While you might feel you have secured your financial information, the government has very much wedged its way into the room. Financial privacy has practically vanished over the last 50 years. It's strange how quickly we have accepted the current state of financial surveillance as the norm. Just a few decades ago, withdraw...
Reason
The end of cash has been heralded for years—mostly by government officials eager to end the expense of minting coins and printing banknotes while pushing transactions to digital forms that can be tracked and taxed. The transformation has met varying degrees of acceptance or resistance from people around the globe. But Australians appear to be eagerly advancing down the road towards a cash-free world. Disappearing Banknotes and Coins"Cash was once a staple in the economy, but it's fast becoming a relic of the past," according to an April report on Australia's financial evolution from SBSNews. "...
Reason
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