In Today’s Issue 💬
- America's shrinking economy
- Biden's $33 billion to Ukraine
- New Jersey's transgender lesson for middle schoolers
Economists surprised by America’s shrinking GDP
The U.S. economy shrank for the first time since the pandemic lockdown in recession in the first half of 2020.
The current economy: We’re seeing a decline in economic growth, an accelerating rise in prices, and a decline in disposable income. If the trend continues, Americans may see stagflation—a phenomenon caused by slow growth and rising prices.
How consumers feel: Most Americans are unhappy with the economy, feel poorer, and spend savings accumulated during the pandemic. As real wages continue to decline because of inflation, trends of cutting back on spending could tip the economy into a recession.
Biden’s role: The White House should be focusing on avoiding anti-growth policy shocks, like tax increases and high spending. They are doing the opposite. [WSJ]
Biden wants to send $33 billion to Ukraine
What’s it for? Biden requests to send over $20 billion for weapons, ammunition, and military assistance, $8.5 billion in economic aid, and $3 billion in humanitarian aid. The aid package would constitute one-fifth of Ukrainian’s regular annual economic output. It’s a very significant amount.
Zelensky wants quick approval: "I am thankful to the American people and personally to President Biden for it. I hope that Congress will quickly approve this request for help to our state,” he said in a video address.
Why it matters: The U.S. economy shrank unexpectedly by 1.4% this quarter. Inflation is still at its height and prices rise throughout the nation, with the same pattern occurring throughout Europe. Biden’s focus is elsewhere.
New Jersey middle school lesson included a video that promoted hormone therapy
Background: A New Jersey middle school showed students a video that endorsed hormone therapy to address gender dysphoria. The middle schoolers learned about transgender rights activists and had a planned assembly to meet with a notable transgender activist in person.
School dodges responsibility: The New Jersey school district superintendent sent an email to parents explaining that students didn’t watch the part of the video where testosterone was injected. Parents said that the Board of Education failed to inform them that this lesson would occur.
Context: New Jersey has recently been under fire for its new curriculum that would promote LGBTQ+ ideology to second graders in the upcoming fall.
🔥 In Other News
🧬 San Diego Democrats voted to change the definition of “women” to include men, despite an overwhelming majority showing opposition. Read more.
📚 Georgia has become the latest U.S. state to ban 'divisive' concepts in teaching about race. Read more.
👦🏻 A 15-year-old boy who was initially targeted by a false rumor that he was unvaccinated was bullied relentlessly until he took his own life. Read more.
☀️ Florida will take action against the Biden administration's new "Ministry of Truth,” says Gov. DeSantis. Listen here.
💉 Moderna asks the FDA to authorize the Covid-19 vaccine for children under 6. Read more.
👩⚖️ The Arizona Democratic Party is planning a lawsuit over law in Arizona that demands further proof of citizenship to vote. Read more.
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