Everyone's making a whole lot out of that 4.3% GDP growth rate for Q3 that was announced yesterday. But what does it actually mean?
My latest, on Substack:
https://t.co/EXD9dhKTOW
Thoroughly enjoyed this conversation with Andy Mills, about his fascinating podcast series on AI, called "The Last Invention." I learned a ton -- from our disussion and from the series.
https://t.co/4uPfHDYT95
The United States of America is not united by ethnicity, nationality, or religion. We are united by a creed—a belief that it doesn’t matter where you came from, it matters where you are going. A core element of the American Dream is that you can come from humble circumstances and do great things, and this dream has attracted people from every corner of the earth. But in order for a nation built on such an idea to hold together and thrive, that aspirational narrative had better remain true for all of its people.
The future of our country—whether it is our security, our prosperity, or indeed our social cohesion—all rests on the access of every child to a high-quality education. It is the great equalizer—the holy grail that has the power to change lives and lift the human spirit in ways that nothing else can.
My latest on the transformative power of education: https://t.co/iWTfxZQZxS
4 reasons this is a silly idea:
1) Math: Tariff revenue is $30B/mo. A $2000 rebate check would cost $300B-$600B (ie, 1-2 yrs of revenue)
2) Budget: 10 years of tariff revenue already “paid for” the OBBBA, & Republicans want to spend it AGAIN on a big farmer bailout
3) Econ: Giving Americans their own money back is inefficient redistribution, & new, debt-financed stimulus checks could be inflationary
4) Law: POTUS can’t just cut tariff checks; Congress would have to appropriate funds from the general treasury (which, ofc, is already $38T in the hole)
According to @zillow, 53% of homes in the US have lost value in the past year. Here are the % of homes with lower values in the largest MSAs:
NYC: 21%
LA: 79%
Chicago: 23%
DFW: 87%
Houston: 80%
Miami: 76%
DC: 43%
ATL: 70%
Philly: 27%
Phoenix: 87%
Boston: 21%
San Fran: 83%
Despite the country’s deep divisions, a new survey from the @AmCommPro finds one place of broad agreement: Americans overwhelmingly view inflation as the most important issue facing their communities and the nation.
Read this from Carrie Dann:
https://t.co/C7Vppa8ejh
From my appearance on 60 Minutes:
Me:
Research works. If you want to freeze society where it is, then cripple the research enterprise.
Bill Whitaker of 60 Minutes:
Is that whole idea being lost in the harsh rhetoric by the administration?
Me:
The attack on universities is a tragic blunder. For all the foibles of universities, and there are many, and I pointed them out, universities' research makes life better, massively so. Why would you want to cripple it? It's something that the United States does really, really well.
For my tariff homies, the one-way ratchet problem (Congress can't get back this power once delegated) and the donut hole problem (why would Congress delegate a great power (to ban) but not the lesser (to tax)) are ways of reading an ambiguous text: IEEPA's "regulate" language).
@RepDonaldsPress You mean they forgot to add the 2020 little black square on their profile to show they belonged to the tribe. This is what YOU hated in 2020/2021.
@SecScottBessent@SenSchumer Blah blah, show some leadership and get congress to do their job. Right not the fault is a the feet of congress…right and left.
@SeanFoofoo@RepBice@HouseGOP I would only say that our elected officials that pledged an oath to the constitution and the institution of Congress do not have the luxury to not compromise. It is literally their job.
Perhaps short-sighted…i just can’t get to a dead end comment.