Over The Weekend…

Some Interesting Tidbits

If test scores are the measurement on how our kids are doing in school, we just failed.
Math and reading scores declined in the last year and it is tied to school closings because of covid.
How much did we decline?
Reading scores dropped to 1992 levels. Nearly four in 10 eighth-graders failed to grasp basic math concepts.
A 1 or 2 percent decline is concerning.
Well, math scores declined 8 percent for 8th graders. Reading fell 3 percent.
Think about this number, 38% of students in 8th grade are below math grade level.
You were already seeing a move to change the blame for school closings, watch it now.

Late Friday, in an effort to get as little coverage as possible, the administration announced the border crossings for the year. There was a record 2.2 million arrests. 2.4 million total encounters.
Add this.
A record number of 20 terrorist suspects were caught in September. That brought the years total close to 100.
All those numbers do not count “get aways.”
Aren’t you glad the administration keeps telling us the border is closed?

The U.S. Court of Appeals for the 8th Circuit issued a stay on President Biden’s student loan forgiveness program. This temporarily halted the up to $20,000 in debt relief to student borrowers. 
The court ruled after an appeal from six Republican attorney generals.
The ruling came the same week that the Department of Education officially launched the application website. And since then, almost 22 million had already applied for forgiveness.
Will the appeal hold?
We think not and expect the number applying to exceed expectations and impact the deficit.

Speaking of deficits, this from Axios:
The swift humiliation of UK Prime Minister Liz Truss is a warning sign for the US and policymakers around the world: Deficits matter again.

Let’s hope so. You know what the US national debt is now?
More than $31 trillion, a record — and should be a major worry for all.
As interest rates rise, the nation’s fiscal woes worsen as borrowing by the Treasury becomes more costly and the debt we are passing on to our kids and grandkids is a shame.

Want some ideas on how to cut the deficit? Here are a few I would recommend:
How about no add-on to bills that are pushed through congress. Let a bill stand on its own. The ad-ons are a disgrace.
Get rid of earmarks again. If you think there is control over how the money is used by politicians you are naive. They use the funds to win votes, and all it does is drive up spending and pass on debt to the future.
How about zero based budgets? Now they build budgets based upon last year’s budget. The only question is how much more. Let’s start from zero and see what we can cut.
For politicians of both parties it’s just easy to spend. We need leaders who understand the future is at stake and the need to get our budget balanced; I even dare to say — begin to reduce the debt we have accumulated.

Did you find it interesting that Centers for Disease Control and Prevention (CDC) Director Rochelle Walensky  has tested positive for COVID-19? She had just announced she got her latest booster.
They did announce she has mild symptoms, which is good.

Keep an eye on the Fed meeting next week. They are set to once again raise rates by 0.75 points. However, some officials have been signaling a desire to slow down the pace of increases and to stop raising rates early next year to see how their moves this year are slowing the economy. 

Some good news amid all the higher prices and inflation for retirees.
Americans will pay 3% less next year on monthly premiums for Medicare’s Part B plan. (Which covers routine doctors’ visits and other outpatient care.)
Plus, the cost-of-living increase in Social Security benefits will be 8.7%.
Now this will drive the deficit up, but keep seniors closer to even in the end.  

Hope Your Week Is A Good One.

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