The US hit the debt ceiling on January 19th of 2023. As of today, Congress has not yet voted to raise the debt limit, which it must do before it can borrow the additional funds necessary to pay for its approved budgeted spending (not unapproved future spending) on everything from salaries for military personnel to crucial social programs like Social Security and Medicare.¹ 

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Intended to persuade more Americans to begin saving for retirement, the Securing a Strong Retirement Act, otherwise known as SECURE Act 2.0, was passed into law as part of the omnibus spending package signed by President Biden on December 23rd of 2022.¹ This bipartisan legislation will change hundreds of rules related to 401(k), 403(b), traditional and Roth IRAs and other types of retirement accounts.

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August 2022 saw encouraging news coming from Washington with the passage of the Inflation Reduction Act (IRA)¹ and the introduction of the Biden Student Loan Forgiveness plan.² The potential effects of these initiatives are too extensive to unpack quickly, but this brief overview offers insights into a few of the most promising benefits and some of the limitations.

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“With sorrow — for this Court, but more, for the many millions of American women who have today lost a fundamental constitutional protection — we dissent.¹“

– Supreme Court Justices Stephen Breyer, Sonia Sotomayor, and Elena Kagan

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