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Wednesday, September 14, 2022

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CPI Indicates Inflation is Not Going Anywhere, Biden Takes Victory Lap on Inflation Bill

Wall Street Journal: So-called core CPI, which excludes often volatile energy and food prices, increased 6.3% in August from a year earlier, up markedly from the 5.9% rate in both June and July. On a monthly basis, the core CPI rose 0.6% in August—double July’s pace. Investors and policy makers follow core inflation closely as a reflection of broad, underlying inflation and as a predictor of future inflation (Wall Street Journal). Financial Times: Joe Biden, the US president, and his economic advisers had also been hoping for a reduction in the headline figure, going so far as to schedule a “celebration” of his recently passed Inflation Reduction Act, a package of healthcare and climate policies (Financial Times). Leader McConnell: You can’t make it up: Hours after this terrible inflation report, the White House is hosting an “inflation reduction” celebration. Democrats have spent our economy into disaster and now they’re partying while families pay. They could not look more out of touch if they tried (Twitter).

Twitter Whistleblower Explains National Security Breakdown Within Company

Associated Press: The former security chief at Twitter told Congress that the social media platform is plagued by weak cyber defenses that make it vulnerable to exploitation by “teenagers, thieves and spies” and put the privacy of its users at risk. Peiter “Mudge” Zatko, a respected cybersecurity expert, appeared before the Senate Judiciary Committee to lay out his allegations Tuesday. Zatko said “Twitter leadership ignored its engineers,” in part because “their executive incentives led them to prioritize profit over security” (Associated Press). CNN: Zatko detailed some of the personal information Twitter collects on users, including phone numbers and emails, IP addresses and the locations from which users access the platform. Zatko alleged that Twitter does not fully understand all of the user data it collects, why it is collected and where it is stored. Zatko alleged that it would be possible for a Twitter employee to take over and tweet from the accounts of Senators. “It’s not far fetched to say a Twitter employee could take over the accounts of all of the senators in this room,” he said, though he never saw such a thing happen in his time at the company (CNN). Daily Caller: The whistleblower added that he had to explain these security concerns to former CEO Jack Dorsey when he was first hired, since Dorsey did not understand. Twitter did not fix the issues before Zatko left, he added, since the company “had other priorities” (Daily Caller).

Majority of Twitter Shareholders Vote to Move Forward with Sale to Elon Musk

Reuters: A majority of Twitter shareholders have voted in favor of the social media company’s $44 billion sale to Elon Musk, people familiar with the tally said on Monday. The deadline for the shareholder vote on the deal is on Tuesday but enough investors had voted by Monday evening for the outcome to be certain, the sources said. Musk has informed Twitter he will not go ahead with the acquisition, arguing he was misled over the spam accounts on the platform and was not notified of a pay settlement the company reached with one of its top executives (Reuters). Axios: Twitter needs a simple majority of shareholders to affirmatively support the merger. Approval is a foregone conclusion at $54.20 per share, a 30% premium to where shares currently trade and a 38% premium to where they were prior to the deal announcement. One wrinkle, though, is that Musk is Twitter’s largest outside owner with a 9.6% stake, and almost certainly will hold back his shares (Axios).

West Virginia Lawmakers Pass Near Abortion Ban, Bill Heads to Governor’s Office

Associated Press: West Virginia’s Legislature passed a sweeping abortion ban with few exceptions Tuesday, approving a bill that several Republicans said they hope will make it impossible for the state’s only abortion clinic to continue to offer the procedure (Associated Press). Bloomberg: Under the measure sent to Gov. Jim Justice (R), cases of rape and incest would have to be reported to law enforcement, including cases involving children, before an abortion may be performed. A police report filed by a doctor treating a child for sexual assault would satisfy the requirement. A doctor who performs an illegal abortion would face the loss of their medical licenses, but no criminal penalties. Abortions in cases of rape or incest would have to be performed within eight weeks, or within 14 weeks in instances involving children. Anyone who isn’t a licensed medical professional who performs an abortion would face felony charges (Bloomberg). Life News: The West Virginia legislature has passed a bill to ban abortion. When Governor Jim Justice signs it, the state will become the 16th to protect babies from abortions (Twitter).

Study Reveals New Illegal Immigrants Will Cost US $20.4 Billion; Trump’s Wall $16.4 Billion

Fox News: The study by the Federation for American Immigration Reform (FAIR) calculates the illegal immigrants who have entered the U.S. since Jan. 2021 will add an extra $20.4 billion burden a year, in addition to the $140 billion existing illegal immigrants already cost. The analysis is based on an estimated 1.3 million released into the U.S. by immigration officials, as well as approximately one million “gotaways” — or illegal immigrants who have slipped past overwhelmed agents. FAIR calculates that each illegal immigrants costs $9,232 a year to support. The U.S. has been in the midst of a massive border crisis since early 2021 (Fox News). Washington Examiner: For comparison, the added $20.4 billion annual bill is $4 billion more than the $16.4 billion the former Trump administration spent building and restoring hundreds of miles of the border wall (Washington Examiner). Greg Price: Jean-Pierre: “We are doing a lot more [than the Trump administration] to secure the border and could be doing even more if Republicans would stop their obstruction” (Twitter).

Sen. Joni Ernst Introduces Bill Forces Democrats to Live Like Their Citizens

Time to put up. Fox News: Iowa GOP Sen. Joni Ernst filed a bill Monday that would require the Department of Energy and the Environmental Protection Agency to dial up their thermostats to a minimum of 78 degrees at their headquarters when the air conditioning is running in order to fall in line with California’s recommendations for their residents in the midst of a statewide energy crisis. “During a hot summer, liberal leaders told Americans to set the AC to 78 degrees to compensate for failed Democratic policies. Secretary of Energy Granholm praised the move, saying states like California are leading by example,” Ernst said. “It’s time for Biden officials to adhere to the same regulations they’re forcing on hardworking Americans.” “My bill requires EPA and the Department of Energy to set the AC no lower than 78 degrees, and provide a report to Congress on what they’ve had the AC set at in the past,” the Iowa senator continued. ” Not only will this make Washington bureaucrats think twice before imposing arbitrary rules on Americans, it could even save money. It’s time to make ‘em squeal, and sweat!” (Fox News). Spencer Brown: @SenJoniErnst on her bill that would require the EPA and Energy Department to set their thermostats no lower than 78 degrees after the Biden admin praised California’s “lead” on going “green” while its power grid melted down (Twitter).

New York Times Employees Refuse to Return to Office, Citing Inflation

New York Post: As of Monday, 1,316 Times workers had signed a pledge not to return to the office. This includes 879 members of the News Guild, but also members of the Times Tech Guild and the union for Wirecutter. “People are livid,” Tom Coffey told The Post. A 25-year veteran editor at the NYT, he works on the news desk and serves on the union’s Contract Action Committee. He added that being forced to return to the office during a period of high inflation means workers will have to spend more money on gas, mass transit, clothing and lunches, despite the lack of salary increases (New York Post). NYT reporter Haley Willis: The @nytimes is giving employees branded lunch boxes this week as a return-to-office perk. We want respect and a fair contract instead — so I’m working from home this week along with 1,300 of my @NYTimesGuild and @NYTGuildTech colleagues, with support from @WirecutterUnion (Twitter). National Review: The Guild is reportedly demanding an eight percent across-the-board pay hike in addition to continued remote-work option, while the Times is offering a four percent increase and asking that employees abide by the offered hybrid option (National Review).

Ukraine Remains Aggressive as Russia Retreats

NBC: Town after town, village after village — Ukraine keeps pushing into territory controlled by Russian forces, and pushing its Western allies for more support to cement its recent stunning gains. Kyiv sought to advance farther against Moscow’s retreating troops in the northeast of the country Tuesday, pressing a counteroffensive that has had Ukraine’s military recapture key territory and boost hopes both at home and abroad of a decisive shift after more than six months of grinding war (NBC). Financial Times: The sight of Russian troops in headlong retreat in Ukraine is stunning — but it should not be surprising. This war has gone badly for Russia from the outset. Vladimir Putin failed to achieve the lightning victory that he was aiming for on February 24. By April, the Russians had been forced into a humiliating retreat after making incursions towards Kyiv (Financial Times).

Lila Rose Takes on Dr. Phil, Audience on Abortion

Daily Wire: Live Action founder Lila Rose took on a fuming abortion activist, and many others, during a Monday appearance on “Dr. Phil.” Rose, one of the leading pro-life figures in the nation, was called a “traitor” to women and decried as lacking empathy by one pro-abortion activist in the audience. In her typical fashion, Rose responded calmly and with compassion for both women and the unborn (Daily Wire). Editor Cabot Phillips: This is one of the most powerful defenses of life you’ll see (Twitter).

10.

Boston Marathon Adds Non-Binary Category

Fox News: Prospective Boston Marathon runners looking to participate in next year’s event will be allowed to enter as nonbinary athletes without having to register as a member of the men’s or women’s divisions (Fox News). Daily Wire: The category of non-binary for a marathon competition marks another attempt to redefine gender in sports. While there is no advantage in the Boston Marathon for biological females who identify as male or non-binary, biological males could greatly benefit in qualifying for the race under the new category (Daily Wire).

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