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With increased expenditures and decreased tax revenues, the debt owed by the US federal government is expected to exceed the GDP of the US in 2021, according to a government analysis.On Wednesday, the Congressional Budget Office released the updated figures showing that the federal government’s debt is projected to be 104% of the size of the economy in fiscal year 2021. 2021 is expected to be the first time since 1946 that the amount of debt is larger than the size of the economy.The CBO’s projection shows that the debt is expected to remain larger than the size of the economy through the upcoming decade.For several decades following World War II, the amount of debt the US owed relative to the size of the economy decreased, bottoming out in 1974 at 23%. The US debt began increasing in the 70s and 80s as balanced budgets became more of an exception. The last time the US had a balanced budget was in 2001. While the US debt burden decreased for most of George W. Bush’s presidency, it began to skyrocket amid the last recession.The CBO says that while 2020 saw a slight decline in revenue, the year saw a massive increase in government spending amid the coronavirus pandemic.To see the full analysis, click here. 1231

With nearly twice the number of unemployed Americans compared to this time last year, the competition for seasonal work is more stiff.But some of America’s largest companies are looking to make significant additions to their workforce heading into a unique and challenging holiday season. And for some companies, they’re planning on making some or all of their new hires permanent employees.If you’re in need of a job, here are a few companies seeking help:1-800 Flowers Inc.1-800 Flowers Inc. announced earlier this month plans on hiring 10,000 seasonal workers to assist with its delivery service. The majority of these roles are being offered throughout Illinois, Ohio and Oregon, with some work-from-home positions available, the company said.7-ElevenConvenience store chain 7-Eleven announced Monday it plans on hiring 20,000 new permanent associates throughout the US. The chain has bolstered its staff as it has expanded its delivery service amid the pandemic.AmazonOnline retailer Amazon announced plans on hiring 100,000 associates in the US and Canada to bolster its staff for the holidays. The positions are permanent and are both part-time and full-time. The positions have a starting wage of an hour, and Amazon is offering a ,000 “signing bonus” in some locales.FedExThe delivery service said last week it plans on hiring 70,000 workers between now and the end of the year. FedEx said that many of these positions will be used to bolster its ground service.UPSDelivery service UPS said that it plans to hire 100,000 seasonal workers this year as the company sees an influx of deliveries between October and January. The positions will be both part-time and full-time.UPS says that in the past, one-third of its seasonal workforce is hired permanently.This story will be updated as companies announce seasonal hiring plans. 1850

While the teams on the field at Super Bowl LV are yet to be determined, the halftime performance has been decided: The Weeknd. 134

With America’s student loan crisis reaching .5 trillion, it’s not just college graduates who are paying off the loans. Parents are now getting sucked in to pay.One man says he has a warning for other parents, before they try to help their children.Victor Turner, who is a veteran, took out Parent PLUS loans in order to send his daughter to college.  "Out of all the loans, I think the highest one is about 0 a month, but there are 7 of them."  Now, back in school himself and caring for his new son, Turner is not the only parent risking their financial future for their child’s future.  In 2016, an average parent owed about ,000 on loans to help pay for their child's education.   734

White House chief of staff John Kelly told reporters on Friday that the White House's handling of classified material "wasn't up to the standards" he had previously seen in his governmental career.During an impromptu meeting with reporters after President Donald Trump had departed for the weekend, Kelly explained the security clearance process for White House officials."It came to my notice that the kind of things I was used to in (Department of Defense) in terms of the handling of classified material wasn't up to the standards that I'd been used to," he said.  580

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