Biden Administration, Rebecca Jarvis, Abc News discussed on News and Perspective with Tom Hutyler


Of the House on the third day of the new Congress. Looks like House Republican leader Kevin McCarthy is going down to defeat again in the tenth vote we're continuing to monitor through the afternoon. If you're feeling optimistic about the new year, it might say something about your political party or perhaps about where you live. A new crosscut Elway poll reveals a regional and political divide on how people are feeling. And Tacoma firefighters responding to a blaze in an encampment near south 24th and a street this morning put out the fire and then discovered a dead person at the scene. Police investigating as the medical examiner works to find the cause of death. If one of your new year's resolutions is to get out of debt, ABC News chief business correspondent Rebecca Jarvis has some advice. There's really three things you need to know here about all of this. First of all, people are taking on more debt. You might have done it over the holidays overall, people are doing it on their credit cards. Second of all, that debt is getting more expensive. The fed signaled, they're not cutting rates this year. That means those APRs are rising and there are things you can do to take control right now, wipe the slate clean and have a much better financially free year ahead. Gather up all of those credit card bills, flip them over and call the number on the back. And here's why you're going to call that number because you can ask the bank and the credit card company to lower your APR. And that might sound like, wow, are they really going to do that? Well, 70% of the time, they actually do. And you can even ask them to knock off some of the fees as well. Then you want to make a payment plan. Now, there's really two tried and true methods here. First, there's the snowball method. That means you pay off the smallest balance credit card first. You keep making minimum payments elsewhere, but you pay off the smallest balance first. This gives you that psychological jolt. You feel good. Oh, one down, a few more to go. Then there's the avalanche method. That is where you pay off the highest interest rate credit card first. Again, keep making those minimum payments. That method, avalanche, is going to save you more money, but you have to stick to it if you're going to make it work. So sometimes the snowball method just gives you the better psychological boost. And then again, is chief business correspondent for ABC News, Rebecca Jarvis. With the Supreme Court sent to your arguments over president Joe Biden's student loan forgiveness plan next month, the Biden administration has filed a Britain defense of the plan, ABC's Mark remould reports. In court documents the Biden administration is seeking to knock down perhaps the most tenuous aspect of the challenges to the president's plan, the right for plaintiffs to sue in the first place. The court is hearing two challenges one from a number of Republican led states and a second by two individuals. The Biden administration's filing first challenges the standing of both lawsuits saying neither should be allowed to sue and then second arguing that the secretary of education has the right to cancel debt to protect borrowers from the economic consequences of the COVID pandemic. Mark remalard, ABC News. The South Carolina Supreme Court has ruled the state 6 week abortion ban is illegal, Matt McClure, with the latest. The high court ruled Thursday that states 6 week abortion ban violates the state's constitutional right to privacy and is therefore unconstitutional. The court in a three to two vote riding the state's right to privacy applies to a woman's decision to have an abortion. The majority included justice Kay Hearn, the sole woman on the state Supreme Court, the Thursday ruling means that the state's previous ban on abortion at about 20 weeks stays in place for now. I'm Matt McClure. First Lady Jill Biden undergoing surgery to have a small lesion removed during a routine cancer screening, doctors found a lesion above Biden's right eye and recommended to be removed surgically. The First Lady is scheduled for the procedure next week, the president's physician says it's common outpatient procedure only done in an abundance of caution. Northwest news time two 50. And for an update on Wall Street, your stock charts dot com money updates and Jim chesko. Thanks in part to fresh labor market data, including a bigger than expected rise in private sector payrolls last month. Stocks ended firmly in the red today as investors interpret that to mean the Federal Reserve will continue with its aggressive stance on interest rate increases. The S&P 500 lost 45 points, the down dust, you'll drop 340. Very tough times for Bed Bath & Beyond the retailers said today. It's running out of cash and may need to file for bankruptcy protection in the weeks ahead. Shares of bed bath cratered 30% on the news. That's your money now. Get your money news here at 20 and 50 passed every hour, traffic and weather right away

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