Topic: Government & Politics
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Education Secretary Betsy DeVos has rolled back an Obama administration memorandum requiring the Federal Student Aid office to do more to help borrowers manage their debt. The move comes at an inopportune time of soaring college tuition costs and rising levels of student borrower defaults.
Four borrowers have filed suit against the Education Department after they were initially approved for the department’s student debt repayment program but had the decision reversed years later. The Education Department maintains that initial approval letters do not qualify as a legally binding contract—which is little comfort for borrowers who for years counted on the financial assistance.
New research shows that Americans are growing more politically polarized, with the biggest increases occurring among the 65+. While many blame the Internet for growing U.S. partisanship, this ignores the fact that its biggest users (Millennials) are a non-confrontational bunch.
Columnist Lavanya Ramanathan highlights how Generation X has gone from flannel-wearing slackers who listened to grunge to suit-wearing Republicans who wield political power. While not all Xers are staunch conservatives, she makes a point: Already well-represented in Congress, Xers are poised to take over the presidency for the foreseeable future once Trump’s term ends.
In a recent interview with Bill O’Reilly, President Trump said that the process of finding an ACA replacement could stretch into 2018. The delayed timeline illustrates the difficulty of finding a plan that would maintain the parts of the ACA that do work while still appealing to working-class Trump supporters.
Fully 114 of the 242 S&P 500 companies that held investor events in January referenced Donald Trump—with many executives preaching patience and optimism. Though companies and investors remain sold on the “Trump rally,” beware: Full-on “Trumponomics” still has significant hurdles in its way.