The Social Security Administration is currently facing a significant backlog of open cases, leading to an estimated $1.1 billion in improper payments to beneficiaries. This issue has been identified in a recent report from the Social Security Administration’s Office of the Inspector General. The backlog of pending actions has reached a record high of 5.2
Personal
The recent resurgence of concerns about a potential U.S. recession has reignited debates surrounding the efficiency and effectiveness of unemployment insurance programs. Experts are warning that the existing system is ill-prepared to handle another economic downturn, citing various inadequacies that were exposed during the Covid-19 pandemic. This critical analysis delves into the shortcomings of the
The Biden administration’s new affordable repayment plan, known as SAVE, is currently facing a multitude of legal challenges that have put the program on hold. The plan, also known as the Saving on a Valuable Education plan, was introduced by the White House with the promise of being the most affordable student loan plan ever.
As Hurricane Debby wreaked havoc in the southeastern U.S., residents faced the grim reality of flooding and property damage. While many homeowners may have flood insurance, there are limitations to what is covered by these policies, particularly when it comes to personal property stored in basements. Flood insurance generally does not cover damage to personal
Former President Donald Trump has put forth a plan to eliminate taxes on Social Security benefits for seniors, claiming it would benefit those who are well-deserving. However, policy experts warn that this plan could have detrimental effects on the Social Security and Medicare trust funds. By repealing this tax, it could potentially increase the budget
The Federal Reserve Bank of New York recently reported that Americans currently owe a staggering $1.14 trillion in credit card debt, reflecting a troubling trend of increasing debt levels. The average balance per consumer has risen to $6,329, marking a 4.8% year-over-year increase in indebtedness. This concerning data highlights the financial strain faced by many
The issue of taxing Social Security benefits has been a topic of discussion among policymakers and politicians, with both federal and state-level proposals being presented. While there is bipartisan support for exempting Social Security from income taxes, the implications of such a policy are complex and multifaceted. When comparing federal tax proposals with state legislation,
The recent increase in the unemployment rate has raised concerns among economists, particularly in relation to the growing number of marginally attached workers. These individuals are available and willing to work but have not actively searched for employment in the past month. This rise in marginally attached workers poses a potential risk of transition into
Vice President Kamala Harris and Second Gentleman Douglas Emhoff have been relatively conservative with their finances, according to recent tax filings analyzed by experts. While their approach may seem simple and straightforward, it has led to missed opportunities for tax savings and optimization. As a public figure, the couple’s financial decisions have not raised many
In today’s society, the constant bombardment of influencer marketing on social media platforms has become overwhelming for many people. The pressure to buy everything from protein shakes to luxury vacation villas can be exhausting and often does not align with individual lifestyle aspirations or budgets. As a result, the rise of “underconsumptioncore” has provided a