A San Jose University State University graduate this December. Photo: Randy Vazquez/Bay Digital First Media/The Mercury News via Getty Images

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, according to a CreditCards.com poll reported by CNBC.

Why it matters: Excluding mortgages, the average millennial held around $32,000 in personal debt last year, according to a study by Northwestern Mutual. But as education and health care have eaten up more of young adults' budgets, their median earnings have barely risen since baby boomers were the same age.

Go deeper: Fed report says Great Recession made millennials poorer than older generations

Editor's note: This article and headline have been corrected to show that 20% of millennials with debt expect to die without paying it off, rather than 20% of millennials overall.

Go deeper

16 mins ago - Podcasts

Reid Hoffman and Mark Pincus on the rise of Silicon Valley SPACs

Silicon Valley venture capitalists are no longer content with investing in startups and then eventually handing them off. Instead, many are now forming SPACs, or blank-check acquisition companies, to ride tech unicorns into the public markets themselves.

Axios Re:Cap digs into this trend with the co-founders of a new tech SPAC called Reinvent Technology Partners: Reid Hoffman, a co-founder of LinkedIn and partner at Greylock, and Mark Pincus, the founder and former CEO of Zynga.

Updated 30 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 2:30 p.m. ET: 31,717,955 — Total deaths: 973,014 Total recoveries: 21,795,005Map.
  2. U.S.: Total confirmed cases as of 2:30 p.m. ET: 6,913,046 — Total deaths: 201,319 — Total recoveries: 2,646,959 — Total tests: 96,612,436Map.
  3. Health: CDC director says over 90% of Americans have not yet been exposed to coronavirus — Supply shortages continue to plague testing.
  4. Politics: Fauci clashes with Rand Paul at COVID hearing: "You're not listening" — FDA chief vows agency will not accept political pressure on coronavirus vaccine.
  5. Vaccines: Johnson & Johnson begins large phase 3 trial — The FDA plans to toughen standards.
  6. Sports: Less travel is causing the NBA to see better basketball.

California moves to phase out gasoline-powered cars

California Gov. Gavin Newsom. Photo: Justin Sullivan/Getty Images

California Gov. Gavin Newsom is issuing an executive order that seeks to eliminate sales of new gasoline-powered cars in his state by 2035.

Why it matters: California is the largest auto market in the U.S., and transportation is the biggest source of carbon emissions in the state and nationwide.

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