FILE - American University student Magnolia Mead puts up posters near the White House promoting student loan debt forgiveness on April 29, 2022, in Washington. Tens of millions of Americans are waiting to see if President Joe Biden will deliver the widespread student debt forgiveness he endorsed as a presidential candidate. Biden talked of canceling $10,000 per borrower, but the plan stalled when he asked Congress to pass the relief. With that body gridlocked, Biden recently said he's still taking a “hard look” at the question. (AP Photo/Evan Vucci, File)

Progressives beg Biden for student loan forgiveness

President Joe Biden considers forgiving up to $10,000 of student loan debt as a ploy to appeal to young voters. The pandemic pause on student loan repayments will expire August 31 as the President attempts to extend the freeze until the end of 2022 or by next summer.

Brian Deese, Assistant to the President and Director of the National Economic Council, speaks during a meeting where President Joe Biden appeared virtually with his economic team in the South Court Auditorium on the White House complex in Washington, Friday, July 22, 2022. (AP Photo/Andrew Harnik)

Biden’s officials doing damage control ahead of recession numbers

The Biden administration is downplaying concerns of a recession ahead of this week’s GDP numbers that are expected to show an economic downturn. In a statement Monday, the White House questioned how economists determine a recession while alleging the US economy is “transitioning” from ‘”fast growth” to steady and slow growth.

FILE PHOTO: Plastic letters arranged to read "Inflation" are placed on U.S. Dollar banknote in this illustration taken, June 12, 2022. REUTERS/Dado Ruvic/Illustration

Economists: Economic downturn almost inevitable

A rising number of economists believe the US and Western Europe will not be able to avoid an economic downturn. According to reports Wednesday, America is experiencing a decline in real disposable incomes, industrial production and real sales while real monthly GDP is also down.

FILE - Treasury Secretary Janet Yellen testifies before the House Ways and Means Committee on Capitol Hill in Washington, on June 8, 2022. Yellen will travel to Asia this month, her first trip to the Indo-Pacific since becoming head of the agency. She will represent the U.S. at the Group of 20 finance minister meetings in Bali. (AP Photo/Jose Luis Magana, File)

Treasury Secy. Yellen, GOP senators discuss economic crisis

Treasury Secretary Janet Yellen weighed-in on the latest inflation numbers while Republicans continue to blast the Biden administration over the rising costs of goods. While speaking out on the efforts by Biden officials to improve the economy, she pointed out that inflation is unacceptably high