Households’ credit card borrowing grew at the fastest annual rate since 2005 in April, according to Bank of England figures–just as a string of price rises started to hit. The annual growth rate for all consumer credit, which includes borrowing on credit cards, overdrafts, personal loans, and car finance, increased to 5.7 percent in April…
Credit Card Borrowing Grows at Fastest Annual Rate in 17 Years
May 31, 2022
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Capitol Report (May 31): Hillary Clinton Campaign Lawyer Acquitted; Biden Plan to Cut Inflation
May 31, 2022
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President Joe Biden laid out his 3-point plan to tackle inflation ahead of his meeting with the chairman of the Federal Reserve. What are Biden’s solutions for tackling soaring prices and can we expect them to yield results? Gas prices seem to be hitting record heights on a daily basis. What are the impacts on…
Capitol Report (May 30): DOJ to Investigate Police Response; Honoring Those Who Made Greatest Sacrifice
May 30, 2022
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The nation’s biggest Memorial Day parade is back. Marching bands and veterans from each of the 50 states joined the parade. And President Joe Biden delivered his Memorial Day address at the Arlington National Cemetery. What’s his plea as he cites the very soul of our nation? Captain Sam Brown is a combat war veteran…
WH: No Decision on Student Loans Yet; Report: WH Eyeing Restarting Oil Refineries | NTD Business
The White House says no final decision yet on student loan cancellation, after a news report said the administration is looking to cancel $10,000 of debt per student. The Biden administration could be restarting idle oil refineries. Could we soon be paying less at the pump? Could China’s digital currency allow the Chinese Communist Party to…
The Consumer Fuel Price Gouging Prevention Act: Cynical and Revealing
Commentary On May 19, the U.S. House of Representatives passed the Consumer Fuel Price Gouging Prevention Act by a vote of 217–207. Four Democrats and every Republican voted against the bill. The purpose of the bill is to empower the federal government (specifically, the Federal Trade Commission) to fine oil companies if they increase prices…
Global Gas Crunch Claims First Australian Trading Casualty
May 25, 2022
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MELBOURNE—A gas seller that supplied 7 percent of the eastern Australian market has collapsed due to soaring global gas prices, the first significant casualty in the country from the global gas supply crisis due to sanctions on Russia for its invasion of Ukraine. The Essential Services Commission on Tuesday suspended private gas retailer Weston Energy…
Capitol Report (May 20): Testimony: Clinton Approved Giving Allegations to Reporter; Expert Says Power Blackouts Are Unlikely
May 20, 2022
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In former President Donald Trump’s lawsuit against Hillary Clinton, a testimony revealed Clinton approved the plan to give allegations against Trump to the media ahead of the 2016 election. President Joe Biden is in South Korea. The visit comes as China issues threats and North Korea prepares for missile tests. What could come next? As…
Capitol Report (May 19): Manchin Pushes Back on Biden Energy Policy; Dr. Carol Swain on Buffalo Shooting
May 19, 2022
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Under mounting pressure over soaring gas prices, House Democrats passed a bill to punish oil and gas producers for alleged price gouging. But Larry Summers, a top Democratic economic adviser, says this move will have no impact on lowering prices, and could even make the situation worse. The unprecedented baby formula crisis is still ongoing….
Gas Prices Expected to Surpass $6 per Gallon Nationwide by August: JPMorgan Analysts
The average price for a gallon of regular gas nationwide is expected to exceed $6 by the end of summer 2022, after surpassing $4 per gallon in all 50 states on May 17. Prices could surge another 37 percent by August to an estimated national average of $6.20 per gallon, according to a note from JPMorgan analysts…
Capitol Report (May 18): Musk Leaving Democrat Party for GOP; Key Issues Driving Voters to Polls
Gas prices are inching up to a national average of close to $5 per gallon. The latest numbers reveal that Americans in every state are paying at least $4 per gallon, and there’s no indication those prices will drop. How is Congress responding? Results from five states’ primary elections are out. We take a look…
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