Debt limit details – Pennsylvania News Today

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Debt Limit Details – A normal MM correspondent is about to go away for a week’s vacation. And we are still confused that the Democrats have so far failed to put the debt ceiling hike on one of their spending bills. Of course, it can still happen, but the logic behind not doing it quickly remains mysterious.

Former Pennsylvania Republican Charlie Dent writes to MM. by email: “Your debt cap analysis is correct. I voted to raise the debt ceiling under Bush, Obama and Trump. The Democratic Party will vote part way through reconciliation for this extravagantly high spending. If so, why are they afraid of putting debt ceilings in the same comparative calculation?

“It’s easy to put debt ceilings in the comparative calculation. This debt ceiling debate is a big bluff and a made-up crisis. The Democrats who control Washington own the economic disaster, so the chance of default is zero. is.”

America’s changing face – – About Paul Overberg and John McCormick of the WSJ: “The first detailed results of the 2020 census show the diversified countries where total white populations have declined for the first time in history, with the strongest growth, particularly in the southern and southwestern regions Metropolitan areas. Increase.

“The population of non-Hispanic whites declined 2.6% between 2010 and 2020, bringing the group’s share of the total population of the United States to less than 60%. By race or ethnicity. The number of people identified grew faster than any other group, in part due to changes that captured more detailed responses. ”

Real conversation – The United States is becoming more urban and suburban with fewer whites. The population continues to decline in small towns and rural areas. Phoenix is ​​now the fifth largest city in the United States on behalf of Philadelphia. Demographic change tends to favor the Democratic Party. However, Republicans are working very hard to counter these changes with new, more restrictive electoral methods.

Good Friday morning – I’m taking a short break but get along with Victoria Guida and others next week, please email me [email protected] Follow us on Twitter @Morning Money Ben ..

Economists See Taper Announcement For Next Month – Via Reuters: “The Federal Reserve Board will curb asset purchases in September, according to a majority of economists polled by Reuters who said US unemployment had been going on for at least a year pre-pandemic levels. Announce the plan….

“Almost two-thirds of respondents, 28 out of 43, said the Fed is likely to announce a gradual decline in asset purchases at its September meeting, but will that be the last? More likely on the minds of many Fed watchers each month, but it is by no means a closed deal for everyone. ”

SCOTUS lifts some of New York’s eviction bans – Josh Gerstein and Janaki Chadha: “The Supreme Court has issued an urgent order to block New York State law protecting tenants from evicting farmers during a coronavirus pandemic. The move over the opposition of the Democratic Harvesters is another sign that a virus-induced ban on evicting farmers in the High Court is in serious danger.

“But the meaning of the new order to President Joe Biden’s administration, which was reinstated last week under heavy pressure from liberal activists, is unclear because of the different legal bases for contestation… in court. The majority indicated that New York law was likely unconstitutional because there was no way to contest the renter’s claim that the landlord had been badly hit by the pandemic. ”

Child Tax Credits Reduce Food Security – Our Helena Bottemiller Evich: “New data from the US Census Bureau shows the percentage of American families with children who eat insufficiently after paying their first child tax deductions last month. Has decreased dramatically.

“The government results show that the monthly payments have had a significant immediate impact on millions of households and are potentially getting stronger … Biden has passed the end of the year that is running out.” We’re trying to extend the tax credit…. Monthly payments of up to $ 300 per child under 5 and up to $ 250 per child under 18 were not in the media spotlight at the time. , Is the result of one of the most comprehensive provisions of the US bailout program. ”

Anita Dunn Leaves the White House —Our Awards: “Biden’s top advisor Anitadan will leave the White House at the end of his temporary position, but will play an important role as an external advisor to Biden, just as he did during the Obama era . Will play.

“Dan told POLITICO that her time at the White House would end on Thursday. She stayed in the post of senior advisor longer than expected, but Biden’s economic agenda picked up momentum in Congress. I always imagined that I was in a place where I could help. ”

Asia’s downturn after Wall Street set a record – Via Bloomberg: “Despite record highs on Wall Street, most Asian stocks fell on Friday due to the spread of the Delta-Covid-19 variant and the reluctance of Chinese regulations. The technology sector declined in China. The internet giant’s slip and the withdrawal of chipmakers, which hurt Korean stocks, resulted in losses.

“US stock futures were stable after the S&P 500 hit a new high and the tech-intensive Nasdaq 100 rose. Airbnb Inc. slipped into long-term trading with a tough virus outlook, but streaming demand spurred Walt Disney Co. The US Treasury Department’s 10-year ROI was high for almost a month, with 30-year auctions and data highlights. Price pressure and labor market recovery. The dollar display stopped. ”

The Left warns Democrats to cut bills by $ 3.5 trillion – Our Laura Baron Lopez: “One of DC’s most powerful Democratic alliance groups warns party members that they risk leaving female voters behind if they are female voters don’t be put off … Biden’s social spending package …. The American Center for Progress urges Democrats to bring the $ 3.5 trillion reconciliation package as close as possible to the original draft to help pandemic-attacked women workers. Claims to be essential.

“The group warns that just passing the Infrastructure Act will make a big difference in economic recovery along the gender line…. In response to pressure from CAP, Biden is promoting its so-called Buildback Better Agenda. This will happen if we strengthen, which will probably also include the financing of women-dominated areas of upbringing for the elderly and children. ”

Housing Prices Soaring – WSJ Nicole Friedman: “Housing prices skyrocketed in almost every region of the United States in the second quarter as strong demand continued to overwhelm the supply of homes for sale. The craze for buying a home has slowed in recent months. The rise in home prices has not cooled yet, although it is showing signs of it.

In 182 of the 183 metropolitan areas covered by the National Real Estate Agents Association, the average sales price of existing single-family homes was higher than a year ago, the association said on Thursday. In 94% of these metropolitan areas, the median has increased by more than 10% compared to the previous year. At the national level, the average home sales price for single-family homes rose 22.9% year over year to $ 357,900 in the second quarter, according to NAR. This is a record of data from 1968. ”

Tax Warning – Senator Elizabeth Warren (D-Mass.) Wash and Post-Editorial: “Now the Senate has passed the budget resolution. We are one step closer to achieving this … Biden’s Transformation Agenda … The other half of the package, the payment method for these “investments, is equally important.

“The already large gap between 0.1 percent and all others is only getting bigger …
I’ve proposed steps to generate more than $ 5 trillion in revenue. This far exceeds the amount needed to implement the Biden plan. Not all Democrats agree with all of my ideas, but Biden has been an active advocate for a number of progressive tax policies, and voters accepted these changes in the ballot box. No matter how loud the Washington lobbyist shouts in other ways, the progressive tax policy is very popular .. “”