Impending Debt Default Raises Concerns for Vulnerable Populations
The ongoing negotiations between McHarty and Biden regarding the June debt ceiling have sparked concerns about the potential ramifications, particularly for disadvantaged individuals and the elderly. Experts warn that if a debt default occurs, it could jeopardize the timely delivery of Social Security checks, with the most vulnerable recipients being at the highest risk.
Kathleen Roming, Director of Social Security and disability policy at the Center on Budget and Policy Priorities, highlights the potential consequences of a debt default. She emphasizes that the first individuals to face the impact would be the poorest and oldest recipients of Social Security payments.
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- Published in Global News
Charles Munger Expresses Concerns About Commercial Real Estate Market Crash
Charles Munger, a prominent figure in the financial industry, recently voiced his worries about the possibility of a commercial real estate market crash. Despite noting that the situation is not as dire as the 2008 financial crisis, Munger emphasized that the troubles affecting banking can extend to other sectors. In particular, he highlighted the challenges faced by various types of real estate properties, such as office buildings, shopping centers, and other troubled assets.
Munger’s remarks shed light on the current state of commercial real estate and the potential risks it faces. While the situation may not be on par with the 2008 crisis, it serves as a reminder that even the real estate sector is not immune to economic downturns.
You may find details in:
- Published in Global News
Immigrants Have Right to Challenge Refugee Status Change in District Court
The Tenth Circuit has ruled that two Rwandan immigrants have the right to file a lawsuit in federal district court to contest the termination of their refugee status. This decision allows them to proceed with their legal challenge, even though there is a federal statute in place that restricts judicial review of removal orders. For more information, please visit:
- Published in Global News
Immigrants Drove Majority of US Labor Force Expansion in 2022
The majority of US labor force expansion in 2022 driven by immigrants. According to the Bureau of Labor Statistics data published on Thursday, immigrants played a significant role in the growth of the US labor force last year, contributing to nearly 60% of the expansion. This influx of approximately 1.8 million foreign-born workers, compared to 1.3 million native-born workers, helped alleviate critical shortages in sectors such as health care and construction. For more detailed information, please refer to:
- Published in Global News
Treasury Secretary Yellen claims that U.S is risking debt ceiling breaching on June 1.
Yellen’s letter implies that should Congress fail to act within the next three weeks, the country faces a substantial risk of encountering its inaugural debt default, which would result in profound economic repercussions and the potential to thrust the nation into a recession. You may find the details in
- Published in Global News
Yapılan itirazlar neticesinde T.C Cumhurbaşkanlığı Seçimi’nin 2.turun da ABD’de oy kullanma tarihleri YSK tarafından güncellenmiştir.
- Published in Global News
White House: Big Tech bosses told to protect public from AI risks
Tech bosses were summoned to the White House on Thursday and told they must protect the public from the dangers of Artificial Intelligence (AI).
- Published in Global News
H-1B lottery deadline approaching
with an H-1B employment start
date of October 1, 2023.
- Published in Global News
New York Court Of Appeals Confirms Secured Lender May Collect Accounts Receivable Of The Debtor
The New York Court of Appeals recently reversed the rulings of both the trial court and intermediate appellate court and held that a secured lender may collect the accounts receivable owed to the debtor by third parties. You may find the details on
- Published in Global News
USCIS Updates Policy to Automatically Extend Green Cards for Naturalization Applicants
U.S. Citizenship and Immigration Services (USCIS) is updating the USCIS Policy Manual to allow USCIS to automatically extend the validity of Permanent Resident Cards (commonly called Green Cards) for lawful permanent residents who have applied for naturalization.
This update is expected to help naturalization applicants who experience longer processing times. You may find the details in
- Published in Global News
