Grad students just lost access to unlimited borrowing. Parent PLUS loans now cap at $65,000, a major shift that reshapes how families pay for higher education. This cap forces students and parents to rethink financing strategies, especially as tuition costs continue to rise.
The headlines said America added 147,000 jobs in June. The reality? Private companies actually cut 33,000 positions, highlighting the gap between headline data and on-the-ground employment shifts.
Meanwhile, tariffs are about to jump as high as 70 percent, raising the stakes for businesses and consumers alike. Combine that with changes in taxes and immigration policy, and the financial landscape feels increasingly uncertain.
Data from the University of Michigan underscores this mood: consumers feel more pessimistic today than they did six months ago.
Welcome to the 4th of July First Friday episode. On America’s 249th birthday, we unpack these economic stories — from jobs and loans to tariffs and consumer confidence.
Check out more tariff discussions here
and more loans and debts discussions here.
Timestamps:
Note: Timestamps will vary on individual listening devices based on dynamic advertising run times. The provided timestamps are approximate and may be several minutes off due to changing ad lengths.
(0:00) Introduction
(1:19) Historical trivia about the Declaration of Independence
(2:28) Three presidents died on July 4th — statistical improbability explained
(4:24) Trump signs domestic policy bill extending 2017 tax cuts
(6:13) Student loan changes — borrowing caps and repayment plan eliminations
(8:53) Tariff pause expires July 9th, new rates announced
(12:00) Original tariff rates and Lesotho example breakdown
(16:26) June jobs report headlines versus private sector reality
(22:54) ADP reports private job losses while government hiring grows
(26:46) Consumer confidence drops 18 percent since December
(30:59) Inflation expectations versus actual 2.4 percent rate
(34:19) Fed takes wait-and-see approach amid policy uncertainty
(36:58) Labor market stagnation mirrors Federal Reserve strategy
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