Debt

Mayor Pete's twist on college debt

Pete Buttigieg
Photo: Joe Raedle/Getty Images

Pete Buttigieg, who recently rocketed to the top of polls in Iowa, released a $500 billion college affordability plan today, which would make public college tuition free for households earning under $100,000 and inject $120 billion into federal Pell Grants.

The big picture: It contrasts with more expansive proposals from Bernie Sanders and Elizabeth Warren, who want to wipe out all college tuition and debt — though nearly every 2020 contender has their own ideas.

Capital markets are eyeing the world's soaring debt

Illustration of the globe locked down by a ball and chain
Illustration: Aïda Amer/Axios

The world's debt is rising to unprecedented levels. While politicians and the general public have seemingly lost interest, capital markets are beginning to show signs of strain, financial experts say.

Driving the news: Global debt surged by $7.5 trillion in the first half of the year, hitting a new record of more than $250 trillion, according to data released Thursday from the Institute of International Finance.