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U.S. Supreme Court lifts moratorium on eviction of defaulters in New York

The Supreme Court of the United States lifted a moratorium on eviction of non-paying homeowners in New York State. It is reported by Reuters, citing a court ruling issued on Thursday.

The ruling comes after a lawsuit filed by a homeowners' organization.

The moratorium was set to expire on Aug. 31, and authorities have not yet decided whether to extend it, so it has now been lifted pending an appeals court hearing.

On July 29, U.S. President Joe Biden asked Congress to extend the moratorium and made it clear that his administration would not extend it again without congressional approval. As White House press secretary Jen Psaki noted in a statement, this situation is due to a recent Supreme Court decision that ruled that “the CDC would need clear and specific congressional authorization<...> to extend the moratorium beyond July 31.”

Earlier, on July 30, experts from Princeton, Harvard, and Chicago, in their paper “Credited Demand,” stated the huge gap between rich and poor Americans. In their view, there is not even a hint that the situation in the U.S. could improve. Poor Americans are taking out more and more credit. Wealthy people in the United States have no time to spend their money. The result is falling aggregate demand and solvency. The way to change this situation would be to raise taxes on the rich. True, the government is unlikely to index the taxes. In the United States, it is the rich who finance politicians.

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