President Biden Tackles Student Loan and Considers $10,000 Debt Reduction Per Borrower

Currents News Staff

President Joe Biden says he plans to announce his decision on federal student loan relief within the next couple of weeks.

“I am considering dealing with some debt reduction,” the president said.

Members of his own party are asking him to forgive $50,000 dollars per borrower – that could help them in the midterms.

“I am not considering $50,000 debt reduction,” Biden said, “but I’m in the process of taking a hard look at whether or not there are going to be additional debt forgiveness.”

Biden campaigned on forgiving a fifth of that amount and waiving what some students owe for undergraduate studies at public schools. He also campaigned to make community college free.

He hasn’t been able to do those things yet, but he has forgiven more student loan debt than any other president. He’s also allowed borrowers to pause payments without interest during the COVID-19 pandemic.

“There’s been no conclusion of any process internally yet,” said Jen Psaki, White House Press Secretary.

The catch with loan forgiveness is inflation: canceling all federal student debt could increase the inflation rate by .1 – .5 percent over a year. The current proposals wouldn’t go that far. Biden says he’s open to that, but the problem is that Americans are already dealing with high prices.

“You’ve seen the war interrupting all kinds of things — supply chains, creating inflation,” sai Rana Foroohar, CNN Global Economic Analyst & Global Business Columnist & Associate Editor for Financial Times. “That has a knock-on effect for companies. It makes prices higher. Consumers start to feel that.”

The Federal Reserve says it plans to raise interest rates to control inflation. That has some economist worried about a recession.

Catholic News Headlines for Friday, 4/29/22

A final farewell for a heroic FDNY firefighter killed in the line of duty in a massive house fire in Brooklyn.

Cardinal Timothy Dolan is in Poland meeting Ukrainian refugees driven from their homeland by the raging war with Russia.

Joy for the family of a Hispanic woman on death row who was granted a stay of execution.

FDNY’s Timothy Klein Eulogized as Fearless First-Responder and Dedicated Public Servant

Currents News Staff and Bill Miller

BELLE HARBOR — Thousands of firefighters from the FDNY and units from around the metropolitan area lined the streets of this oceanside community Friday morning to honor one of their own, who died in the line of duty five days earlier.

Funeral services for Firefighter Timothy Klein, 31, were held at St. Francis de Sales Church, his home parish on Rockaway Beach Blvd. Mayor Eric Adams, Acting FDNY Commissioner Laura Kavanagh, Police Commissioner Keechant Sewell, and Bishop Robert Brennan attended.

Klein, a six-year veteran, was remembered by family and fellow firefighters as a jolly prankster and a hard-charging, straightforward first responder who never shirked from danger or community service.

He died while battling a three-alarm fire Sunday, April 24 in a Canarsie home. He is survived by his father, Patrick, a retired member of the FDNY, his mother Diane, and three younger sisters.

Klein was set to be in the wedding party of close pal James O’Connor and his wife-to-be Danielle Mulle — and the couple has no plans to replace him, according to a friend. The funeral memorial for Klein will be left on the altar for the wedding Mass.

Diane Klein said her son, Timothy, was born with debilitating anemia which slowed his growth, but he was scrappy and played every sport he could in school. Meanwhile, he endured rounds of medications, blood transfusions, and the removal of his spleen.

As Klein fought for his life, his father’s fellow firefighters did not hesitate to donate blood, she said.

“So there is lots of firefighting blood in him, no doubt about it,” she added. “His ultimate dream job was to be a fireman. It was legit, and he loved everything about being a firefighter. His assignment to [Ladder Company] 170, Canarsie’s bravest, was now a reality.”

Speakers recalled how Klein offered a eulogy at the funeral of Firefighter Steven H. In Pollard, a fellow member of Ladder 170 who died when he fell through a gap on the Mill Basin Bridge while responding to a two-car crash in January 2019.

Klein was active in the Firefighter Steven H. Pollard Memorial Foundation, which was formed after his death to provide scholarships in his name. Klein also worked with the Fight for Firefighters Foundation, a non-profit organization that constructs wheelchair ramps in homes for people who need them. He spent countless off-duty hours helping build those ramps, as well as driving retired firefighters to their hospital appointments.

Klein was appointed to the FDNY on December 28, 2015. After graduating from the Fire Academy, he was assigned to Ladder Company 170 in Canarsie.

Fellow firefighter Vincent Geary said the company jokingly called him the “Golden Child” because he frequently gained accolades from FDNY commanders and other members of the department.

But, according to Geary, Klein was equally famous for his firehouse pranks that were accomplished with creativity and stealth, calling him a “prankster hiding in plain sight.” He recalled how Klein slipped a bouillon cube into a fellow fireman’s coffee; the victim was alarmed to find his coffee had turned into beef-flavored gravy.

“I knew Timmy well before the fire department,” Geary said. “I’m only three years older than him. We grew up a few short blocks from each other, and we both attended this very school where we are today — St. Francis DeSales.

“But it wasn’t until I walked through the door at Canarsie that I understood the man that he became and the person I looked up to.”

He recalled how when they were both new, they responded to a fire at a daycare center. He said Klein conducted a search for children, “showing leadership, courage, and confidence.”  

“Everything went smoothly and safely on that job, thanks to Tim,” Geary said. 

During the fire on Sunday, conditions deteriorated rapidly and the incident commander ordered all members from the building, according to an FDNY report.

“At that time, a collapse occurred inside the building, injuring four members,” the report stated. 

Geary said he responded to the blaze with Klein, adding: “He responded as he always did — prepared, excited, eager for what that job would bring. He died doing what he loved. Being a fireman was his true purpose in life — a hero.”

“I’ll end this by speaking for all of Canarsie,” Geary said. “I will miss your infectious smile and contagious laugh. “I know you and Steve are together again, someone you truly loved and missed. Canarsie will never be the same again, but we’ll continue to get back on the trucks, and do what you loved, knowing you are always with us.”

Toward the end of the funeral Mass, Bishop Brennan offered comfort to Klein’s family and the FDNY.

“Today,” he said, “while we honor Tim’s memory and celebrate his life, we also, probably most importantly, celebrate his new life — his eternal life. We just celebrated Easter, and we’re still in that sense of Easter. That means that God wants us to live forever.

“We know that we’ll see Tim again, and enjoy his friendship and love. And we pray for the strength to know that he’s with us now, even from his place with God. May God grant him the reward of all of his goodness, bring him to the happiness of all the saints and, one day, reunite us in his love.”

Belle Harbor, a community of about 30,000 on the Rockaway Peninsula, dropped everything to honor Klein.

Schools and businesses closed, and a few hours before the funeral, people of all ages brandished huge American flags along the roads leading into the community. Heavy traffic forced funeral-goers to find parking and walk about a mile into town, shoulder-to-shoulder with firefighters clad in their dress-blue uniforms.

A worker at Callie’s, a restaurant down the street from the church, explained that Belle Harbor is home to scores of retired and active-duty civil servants. Many of them are members of the FDNY. Several of them died in the Sept. 11, 2001, terrorist attacks. Two months later, the community endured the crash of American Airlines Flight 587, which killed all 260 passengers and crew and five people on the ground. In 2012, Hurricane Sandy flooded Belle Harbor, but it recovered.

The worker declined to give his name, saying he, too, was retired FDNY. But, he said, Belle Harbor folks band together in tough times, just as they did for Klein’s funeral. Firefighters and police officers lined the procession route, silently saluting, as the fire truck carrying Klein’s casket rolled out of town.

Jim Price, a 15-year resident of Belle Harbor, was helping out at Callie’s, serving the crush of hungry firefighters who filled the premises after the funeral.

“I never saw anything like this in my whole life,” said Price. “I mean, just look at this, for one guy. It’s a heck of a club to be in.”

 

Catholic News Headlines for Thursday, 4/28/22

Cardinal Timothy Dolan is poised to leave Rome and head east to spend time with refugees from the war in Ukraine.

Israel and the world is pausing to remember the 6-million Jews murdered during WWII.

Pope Francis reveals new details about his knee problem to his general audience.

A Diocese of Brooklyn student is crediting his career in Catholic schools for allowing him to aim high in the Air Force.

Cardinal Timothy Dolan Heads to Ukrainian Border to Visit Poland, Hungary and Slovakia

Currents News Staff

Cardinal Timothy Dolan is on a mission to help the people of Ukraine. The archbishop of New York is in Italy now, but on April 29, he’s headed to the Ukrainian border to meet with refugees and he may even cross the border into the war-torn country.

“Hey, buongiorno, good morning,” the cardinal said. “Cardinal Timothy Dolan coming to you from Rome, not New York, thanks for tuning in.”

Calling it the ‘antipasto’ of his overseas trip, New York Cardinal Timothy Dolan has been tweeting videos from the Vatican. The cardinal met with Pope Francis on Thursday. On Friday, he’s heading to Poland to meet with Ukrainian refugees at parishes, a railroad station and the border.

“I’m here on my way to those countries bordering Ukraine that have so generously taken over 4 million refugees from the suffering,” Cardinal Dolan said, “the anguish of that beloved Ukraine.”

Refugees like Iryna and her sons who came to Poland from Lviv to escape the war.

“I can’t say this without tears from my eyes because it’s just,” Iryna said, “I couldn’t imagine, you know, that it would be happening. It is just awful.”

In an interview with Vatican News, Cardinal Dolan, Chair of the Catholic Near East Welfare Association, says he wants to bring over the gifts that Catholics have donated.

After Poland, his eminence will travel to Ukraine’s borders with Slovakia, Hungary and may even cross the border into Ukraine, he says, if they can do that.

“This is a moral issue of oppression of vulnerable people,” Cardinal Dolan said. “This is a moral issue of an abuse of power… is a moral issue of unprovoked and illicit use of violence and military force.”

Cardinal Dolan says he’s afraid that the war will expand into other countries and that there is raw evil in the world.

U.S. Gross Domestic Product Shrinks in First Quarter of 2022

Currents News Staff

America’s economy is unexpectedly shrinking. The nation’s Gross Domestic Product – a key measure of economic activity – declined in the first quarter of 2022, according to data from the Bureau of Economic Analysis released Thursday.

That means it’s the worst quarter for the American economy since the beginning of the global pandemic in 2020. The GDP declined at an annualized rate of 1.4 percent in the first three months of the year.

“So I think we’re, what you’re seeing is enormous growth in the country,” said President Joe Biden. “That was affected by everything from COVID and the COVID blockages that occurred along the way.”

So what’s driving the decline?

“The problem is I have to pay a lot more at the gas tank,” said Mark Zandi, the Moody’s Analytics Chief Economist, “and going to the grocery store, that’s what’s really bugging people with great reason.”

While consumer spending increased, inflation remained high with chart-topping gas prices in response to Russia’s war in Ukraine are also hitting Americans in their pockets.

“Most recently the global pandemic and Russia’s invasion of Ukraine underscore large economic shocks and disruptions that must be addressed,” said Janet Yellen, U.S. Treasury Secretary. 

Two straight quarters of declining growth usually amount to recession, but experts say it’s no time to panic, at least for now.

“No one is predicting a recession now,” said the president. “They’re predicting, or some are predicting there may be a recession in 2023. I’m concerned about it.”

Catholic News Headlines for Wednesday, 4/27/22

Another setback for the Biden Administration as the battle over Title 42 rages on.

New information on the house fire in Brooklyn that killed two – why we may never know how it started.

Cardinal Timothy Dolan is already in Rome and heading east.

High-tech glasses that can help blind people to see again.

Russia Releases Former U.S. Marine in Prisoner Camp

Currents News Staff

American Trevor Reed is a free man once more as the U.S. and Russia agreed to a prisoner swap.

“It’s been almost 1,000 days,” said Paula Reed, the Mother of Trevor Reed, “so I’m just excited to see him.”

Reed’s parents are calling his release an answer to their prayers.

“Finally after waiting all this time,” said Paula, “I’m going to get to hug my kid, wrap my arms around him.”

The Texan had been detained for nearly three years on charges of fighting with Russian police.

“He looks terrible to us,” his mom said. “As his parents, we know he does not look well. He’s very thin. He was walking strange. It looked like he needed help getting on the plane.”

As part of the deal, the U.S. is releasing a Russian pilot sentenced for drug trafficking. But no answers yet for two other Americans who are still under Russian detention – WNBA star Brittney Griner and former Marine Paul Whelan.

“Our work is not yet finished,” said Ned Price, U.S. State Dept Spokesman. “Of course, we’re going to continue at it.”

In a devastating move, Moscow cut off NATO countries Poland and Bulgaria from its gas supply after they refused to pay in Russian rubles.  It’s a move that the EU is calling “blackmail.” Russia is reporting blasts on their territory of three regions bordering Ukraine.

New video evidence contradicts Russia’s repeated denials of responsibility for the mass killings.

“I don’t think Putin cares about being a pariah,” said Garry Kasparov, the Chairman of Renew Democracy Initiative. “It’s about staying in power.”

Pope Francis’ Message to Hispanic Community Hopes to Build Bridges and Promote Peace

Currents News Staff

Pope Francis sent a video message to the participants of this year’s Raíces y Alas conference in Washington, D.C., the 6th National Catholic Congress on Hispanic Ministry in the United States.

“I invite you to reflect on the need to be Christian that transforms structures and that can build bridges across all sectors of society,” said Pope Francis.

The pontiff observed that in this time of war and pandemic, humanity needs to change its mentality away from “schemes of war,” to focus on projects of peace.

“I need peace,” said the pontiff, “you need peace, the world needs peace, breathing peace is healthy. We need tangible signs of peace. Christians must set the example.