The GOPAC Newsletter

News of Interest

WG Economy: Is The Recession Here?

WG Economy | David Winston

May 17, 2023

According to Bloomberg News, "With the first-quarter earnings season
drawing to a close, the profits of S&P 500 companies are estimated to have
dropped 3.7% on average, compared to a year ago," marking a second straight
quarter decline in corporate earnings. With questions surrounding the
impact of commercial real estate on regional banks, there are significant
concerns about the second half of this year. While a recession still seems
more likely than not, there are some who insist a recession won't happen,
and others who say there may be a form of a recession that doesn't fit
historical norms. [1]WG Economy, May 17, 2023.pdf

Iowa Republicans Eye a January caucus date: Why the Calendar is more
complicated this year

Des Moines Register | Brianne Pfannenstiel

May 17, 2023

A complicated calendar fight could mean the date of the 2024 Iowa caucuses
may not be firmly set for months - even as Republican presidential
candidates have already begun competing in the state in full force.

The Democratic National Committee voted earlier this year to reorder the
party's presidential nominating process, booting Iowa from its decades-long
place as the leadoff state.

Iowa Democrats say they are preparing for the calendar-setting process to
drag "well into the fall" as they fight for position with New Hampshire,
which also was bumped from the front of the pack in the DNC's process.
[2]Read more

North Dakota Republican Gov. Doug Burgum likely to run for president

CBS News | Fin Gomez

May 18, 2023

As potential Republican contenders Florida Gov. Ron DeSantis, former Vice
President Mike Pence, and South Carolina Sen. Tim Scott move closer to
announcing their entries into the GOPA presidential fray, another potential
candidate is also likely to be throwing his hat into the ring.

CBS News has learned that North Dakota Gov. Doug Burgum is nearing a
decision to launch a dark-horse bid for the White House, and has begun
hiring political consultants who have advised previous Republican
presidential campaigns, according to GOP sources familiar with the
planning. [3]Read more

Youngkin endorses 6 candidates in contested Republican primaries

Associated Press | Sarah Rankin

May 18, 2023

Gov. Glenn Youngkin issued a third round of endorsements Thursday in
Virginia legislative races, backing 19 more Republican candidates,
including six who are in contested primaries.

Among those who received the governor's nod were Emily Brewer and Tara
Durant, both members of the House of Delegates facing spirited challenges
for the GOP nomination in state Senate races. Youngkin is also backing
Senate candidate Bill Woolf and House of Delegates candidates John Stirrup,
Lee Peters, and Buddy Fowler, an incumbent, over other GOP opponents,
according to details provided to The Associated Press ahead of a formal
announcement. [4]Read more

WG Discussion Points

New Presidential Inflation Rate Update

WG Discussion Points | David Winston

May 12, 2023

The latest CPI report showed year-over-year inflation at 4.9%, down
slightly from 5% last month. The media headline is that inflation is
moderating and that the fed might have "breathing room" to pause, according
to Bloomberg. While any inflation decline is welcome news, this doesn't
tell the full story. We have new updates to our "Presidential Inflation
Rate," (PIR) measuring a president's handling of inflation from their
inauguration month to the month of the most recent CPI report. For Biden,
we used the CPI price index for January 2021, when he took office, and
compared it to the price index in the most current CPI report. The percent
difference between the two index points gives us the overall increase in
the level of inflation at this point in his term - 16%. That means overall
prices have increased by 16 percent since he was sworn in. [5]WG Discussion
Points, May 12, 2023.pdf[6]

ICYMI: Inaction by leftist prosecutors

is killing businesses

American Thinker | Jessica Curtis, President Protecting Americans Action
Fund & Senior Advisor to GOPAC

May 10, 2023

Take a look around you - what do you see? Whether you're in a big city or
out in the suburbs, I bet you see a lot of long-serving brick-and-mortar
stores closing their doors.

The reason, in large part, is because liberal prosecutors around the
country are refusing to hold criminals accountable when they commit
offenses aimed at these types of businesses.

In the past few months alone, Whole Foods has closed its flagship store in
San Francisco, the outdoor recreation store REI is leaving Portland, and
Nike is closing its popular store in Seattle after nearly 30 years. Each of
these companies cites rising crime and the continued threat of theft as a
reason for these closures. [7]Read more

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