President Biden's response to special counsel report, concerns on consumer credit card debt. Financial concerns, FCC's ban on AI-generated voices, Carnival lawsuit, plane collision, student aid delays, and Super Bowl 58 preview.
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Quick takeaways
President Biden's response to the special counsel report was seen as politically damaging by both Democrats and Republicans.
Consumer credit card debt has reached a record high, with increased defaults and serious delinquencies, prompting the FCC to ban AI-generated voice robo calls.
Deep dives
Biden's Press Conference and Mental Acuity
President Joe Biden held a press conference addressing a special counsel report that labeled him as a well-meaning elderly man with a poor memory. He denied certain findings in the report related to his handling of classified documents and asserted his preparedness for the presidency. During the conference, Biden mistakenly identified the president of Egypt as the president of Mexico. Democrats and Republicans viewed Biden's response and the report as politically damaging.
Credit Card Debt and Robo Calls
Consumer credit card debt has reached a record high of $1.13 trillion, with individuals carrying an average debt of $6,360. Defaults on credit card payments have increased by 50%, and serious delinquencies are at their highest levels in over a decade. Despite these concerns, consumers continue to open new credit card accounts. In other news, the Federal Communications Commission (FCC) has banned robo calls that use AI-generated voices, citing potential deception and harm. Companies that persist in this practice will face fines.