The financial news that actually matters
For the roughly 4 million workers in the United States who earn a significant share of their income from tips, a campaign trail promise just became tax law. In June 2026, the Treasury Department and IRS finalized regulations under the One Big Beautiful Bill that spell out which occupations qualify for a new federal tax…
Roughly 7.7 million federal student loan accounts have fallen into default, representing about $180 billion in unpaid debt. At the same time, the one repayment plan designed to keep monthly bills affordable for lower-income borrowers has been permanently blocked by federal courts. Together, these two developments have created the most precarious moment for student loan…
The S&P 500 closed at 7,209.01 on April 30, 2026, crossing the 7,200 threshold for the first time and locking in a roughly 10% gain for the month of April. The index opened April near 6,550, making the surge to 7,209.01 a gain of approximately 10%, a figure comparable to November 2020’s roughly 10.75% advance…
The average American household spent about $270 a week on groceries at the start of 2020. Walk into the same supermarket today, fill the same cart, and the tab is closer to $340. The difference is not a feeling or a political talking point. It is a number you can trace on a single federal…
Somewhere between $55 and $79 a month. That is the gap separating the low end and high end of early forecasts for the 2027 Social Security cost-of-living adjustment, and for the roughly 72 million Americans who depend on those checks, the difference is not abstract. It is a tank of gas, a week of groceries,…
Sen. Bernie Sanders released a Senate report in April 2026 warning that artificial intelligence could eliminate nearly 100 million American jobs, anchoring his case with a striking claim: that a Verizon chief executive has predicted AI-driven automation may push U.S. unemployment to between 20% and 30%. The warning landed during the same week Verizon confirmed…
Meta Platforms lost roughly 9% of its value in after-hours trading on the evening of May 1, 2026, after the company disclosed a capital spending plan so large it stunned even its most committed backers. In its first-quarter earnings report, Meta said it now expects to spend between $125 billion and $145 billion on infrastructure…
President Donald Trump stood before Congress during his 2026 State of the Union and made a promise that sounded almost too generous: open a retirement account, save a little, and the federal government will match your contribution with up to $1,000 each year. For the roughly 57 million American workers who lack access to an…
A gallon of milk costs 18% more than it did two years ago. The average credit card is charging north of 20% interest. And the 3.8% raise the typical American worker received over the past year? After inflation, it barely moved the needle. That is the math confronting households in the spring of 2026, even…
A worker who spent 35 years paying the maximum into Social Security and waited until age 70 to file currently collects roughly $58,500 a year. Under a plan from the Committee for a Responsible Federal Budget, that annual payout would drop to about $50,000, and the ceiling would tighten further with every passing year. The…