Top News Stories for Today – Feb 13, 2019
Top News Stories for Today – Feb 13, 2019
US national debt tops 22 trillion
The national debt surpassed $22 trillion for the first time on Tuesday, a milestone that experts warned is further proof the country is on an unsustainable financial path that could jeopardize the economic security of every American. The Treasury Department reported the debt hit $22.012 trillion, a jump of more than $30 billion in just this month.
The national debt has been rising at a faster rate following the passage of President Donald Trump’s $1.5 trillion tax-cut package a little more than a year ago and as the result of congressional efforts to increase spending on domestic and military programs. The nation has added more than $1 trillion in debt in the last 11 months alone. USA Today
Drug lord El Chapo found guilty on all counts
Infamous drug lord Joaquín Guzmán, also known as “El Chapo,” was found guilty Tuesday on all 10 counts, including engaging in a continuing criminal enterprise. This came at the conclusion of a nearly three-month-long trial in Brooklyn, during which jurors were presented grisly detail after detail about Guzmán’s Sinaloa Cartel. The case against him included testimony from 56 witnesses, as well as wire intercepts of Guzmán discussing criminal activity. Guzmán had previously escaped custody twice before. He now faces life in prison and will be sentenced on June 25. CNN, The Washington Post via The Week
Record Americans are behind on their car payments
A record 7 million Americans are 90 days or more behind on their auto loan payments, the Federal Reserve Bank of New York reported Tuesday, even more than during the wake of the financial crisis. Economists warn that this is a red flag. Despite the strong economy and low unemployment rate, many Americans are struggling to pay their bills.
“The substantial and growing number of distressed borrowers suggests that not all Americans have benefited from the strong labor market,” economists at the New York Fed wrote in a blog post. A car loan is typically the first payment people make because a vehicle is critical to getting to work, and someone can live in a car if all else fails. When car loan delinquencies rise, it is usually a sign of significant duress among low-income and working-class Americans. Most of the people who are behind on their bills have low credit scores and are under age 30, suggesting young people are having a difficult time paying for their cars and their student loans at the same time. The Washington Post
Venezuela crisis pits US against Russia
Kremlin officials and Russian state media portray Venezuela’s President Nicolas Maduro as the country’s legitimate leader, even though the United States and a host of other countries have declared him illegitimate and recognized opposition leader Juan Guaido as the country’s interim president. Russian media refer to the anti-Maduro demonstrators as extremists acting under the influence of the United States.
Thai Princess sad about election fallout
The sister of Thailand’s king has said she is “saddened” by the reaction to her attempted bid to become the country’s next prime minister. Princess Ubolratana was disqualified by the country’s Election Commission – who are now also seeking to dissolve the party that nominated her.
Her unprecedented nomination broke with the tradition of the Thai royal family publicly staying out of politics. King Vajiralongkorn had called her bid “extremely inappropriate”. BBC
Parkland anniversary highlights shift of guns
Democrats are increasingly emboldened to embrace gun control as the anniversary of America’s deadliest mass shooting at a high school approaches on Thursday. The shooting at Marjory Stoneman Douglas High School in Parkland, Florida, killed 17 students and staff members and roused a group of young activists who sought to make gun violence a generational issue for younger voters. Since then, Democrats say they’re lifted by their success in last year’s midterms. The party won back the House of Representatives, fueled by victories in several competitive, suburban swing districts where candidates highlighted gun control.
Despite Democratic losses in Florida last year, there was a silver lining to party faithful on guns. In the weeks after Parkland, the GOP-controlled Florida legislature passed a bill allowing authorities to seize firearms from people deemed a threat, as well as implementing a three-day waiting period on gun purchases. It was the first gun control bill passed in Florida in decades, and it was signed by then-Gov. Rick Scott, who highlighted it in his successful Republican Senate campaign. VOA