Young Americans, already holding record levels of debt, are increasingly taking out loans to pay for their weddings, Abha Bhattarai writes in the Washington Post.

The big picture: A majority of 18- to 37-year-olds don't know when — or if — they will ever pay down their debt, and nearly 20% of those with debt said they expect to die before they are able to pay it off.

Where it stands: "Online lenders say they are issuing up to four times as many 'wedding loans' as they did a year ago," the Post reports — and average American wedding costs are rising. Wedding loan ads are spiking on social media and financial planning sites.

  • Loans are frequently marketed "as a way to fund extras like custom calligraphy, doughnut displays and 'Instagram-worthy' venues."

The bottom line: "Credit cards and family members have funded weddings for years," per the Post, but "financial advisers say these types of online loans take lending a step further, by directly targeting 20- and 30-somethings on their computers."

Go deeper: 20% of millennials in debt expect to die without paying it off

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Trump's outdoor New Hampshire rally postponed due to weather

Photo: Win McNamee/Getty Images

President Trump's outdoor campaign rally in Portsmouth, N.H., slated to take place on Saturday, was postponed on Friday due to weather, a senior White House official confirmed to Axios.

The state of play: Press Secretary Kayleigh McEnany told reporters on Air Force One that storms were in the forecast and that the event would take place in "a week or two" instead. The outdoor rally — which had encouraged the use of face masks — was scheduled after sparse attendance at Trump's indoor comeback to the campaign trail in Tulsa.

Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 11 a.m. ET: 12,294,117 — Total deaths: 555,531 — Total recoveries — 6,761,933Map.
  2. U.S.: Total confirmed cases as of 11 a.m. ET: 3,118,168 — Total deaths: 133,291 — Total recoveries: 969,111 — Total tested: 38,032,966Map.
  3. Public health: The U.S.' new default strategy: herd immunity.
  4. Business: The pandemic is driving a second jobs apocalypse.
  5. ✈️ Travel: Airlines say air quality, cleanliness lower risk.
  6. Sports: Sen. Richard Blumenthal calls on colleges to cancel fall sports.

Biden's big economic plan plays it down the middle for Democrats

Illustration: Aïda Amer/Axios

Joe Biden yesterday laid out the broad strokes of his economic policy platform, which seemingly is designed to not freak out centrists and not piss off progressives.

Why it matters: Biden has a better-than-even shot of becoming the next president, which means his tax plans could become everyone's tax bills.