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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

Go deeper

2 hours ago - Politics & Policy

Beto not even best Dem against Abbott

Beto O'Rourke speaks at a rally at the Texas State Capitol in June. Photo: Sergio Flores/Getty Images

Actor Matthew McConaughey’s nine-point lead in a theoretical matchup against Greg Abbott shows just how vulnerable the hard-right Texas governor could be in a general election.

Why it matters: Abbott has won conservative accolades for his abortion, mask and vaccine bans. Axios reported Sunday that former Rep. Beto O’Rourke is preparing to announce a gubernatorial challenge — but a recent poll shows he’s not even the most popular Democrat in the state.

2 hours ago - Politics & Policy

Delayed maps upend midterm campaigns

Illustration: Shoshana Gordon/Axios

Midterm candidates are panicking about how the congressional maps will ultimately be drawn, with several strategists telling Axios campaigns are in limbo.

Why it matters: Candidates are unsure if the district they're targeting will remain intact or be reshaped by the process. The uncertainty is especially vexing to Democrats, who are vying to maintain their narrow margin in the House.

First look: Conservatives' 2022 big target: Tax increases

Illustration: Aïda Amer/Axios

Conservative groups are unveiling huge ad-buys going after vulnerable House Democrats over tax increases and other revenue measures in their party's massive infrastructure spending bill, Axios has learned.

Why it matters: President Biden and Democrats have an immense amount of political capital riding on a $3.5 trillion bill facing razor-thin margins in both chambers. Conservatives are running ads targeting the House members who leaders will need to pass the measure.