department. they are currently short by 108 police officers. student lender announcing it has canceled over $107 billion in student loans. that massive relief for approximately 66,000 borrowers is part of an agreement to settle ongoing litigation with various states. they accuse 1/2 yent in engaging in deceptive practices and targeting students who it knew would struggle to pay loans back. the company denies violating any of those laws. those are your headlines. ainsley: thank you, carley. the supreme court dealing the biggest blow yet to the biden administration vax or mask mandate to employers even as it allow for healthcare workers. west virginia was among 27 states to sue the federal government over the manual mandate. the mountain state s attorney general mat trick morsey joins you now. good morning to you. good morning to you.
appears worse than three months ago. of 67 economists surveyed, only 22% reported rising employment in july. that is down from 4% a year ago. on the upside only 9% saying employment was falling. martha: new worries out there from families what they re spending on higher education. the bad economy has caused parents to cut back. according to sallie mae, which is the country s largest student lender for loans for college. family spent 5% less on college this past academic year. more students are living at home to discuss down on the cost of college. more parents and students say now more than ever they re equating into the decision where to go to school what they can afford which is a bit of a change from what we ve seen in the past. bill: so much to that story. shows how the country is changing in big ways. martha: sure does. bill: the fight to free americans taken hostage in egypt. a pastor and church member out of boston.
i think they will. i think we ll print more money over here. the problem is the more money you print and try to paper over the problems with more debt, the more painful the ending is going to be. this little, default that we had in greece is going to be a bigger default that we see out of italy or spain coming up. are you saying italy and spain will default at some point in the future? are you saying that? i don t see any way around italy faul defaulting or spain defaults. they re not growing. they re deteriorating the same time the debt is accruing. japan is on worse shape than the european countries. we ve got serious financial issues facing the global economy for several years. i 15 seconds. do you want to tell me when italy, spain defaults? years, months, what is it? i think it depends on how much money they p
that s not in doubt, but who s next? spain, portugal, who s next? big problem for the europeans, and it means that greek citizens are about to see a drastic fall in their standard of living. and actually, it raises a question for us here in america, are any americans safe, which are also running out of money, are they in a similar situation to greece. california springs to mind, with a $20 billion decifit. martha: yeah, well, that s pretty scary. stuart, thank you very much. stuart varney, from varney p company , coming up thoon channel. bill: more fallout from health care reform today and because of that, bad news for sallie mae employees, the largest student lender, cutting 2500 members. they have a new law that cuts banks out of the student loan process. that was part of the health care reform. the move ultimately is