Extra, Extra
Running Up the Bill: “By itself, the milestone doesn’t mean much. There isn’t a special level where debt goes from problematic to catastrophic. And the ratio might bounce around in coming quarters as tax receipts come in, tariff refunds go out and GDP fluctuates in response to inflation and revisions. Still, the triple-digit mark is a potent symbol of the fiscal stresses on the U.S. that have been building for decades.” Richard Rubin in the WSJ (Gift Article): U.S. Debt Tops 100% of GDP. In other economic news, the GDP grew at 2%, thanks in large part to AI investment spending. And then there’s the financial metric that probably impacts voting patterns the most: Gas prices hit $4.23 per gallon.
+ Jay Curve: “I worry these attacks are battering this institution and putting at risk the things that really matter to the public.” Jerome Powell plans to remain on Fed board, cites legal actions by Trump administration. “Powell’s decision to stay — the first time a Fed chair will remain on the board as a governor since 1948 — denies President Donald Trump a chance to fill a seat on the central bank’s seven-member governing board with his own appointee.”
+ Nuclear Option: Iran’s new supreme leader gave a rare statement on Thursday, vowing not to give up the country’s nuclear or missile technologies and signaling Tehran would keep control of the Strait of Hormuz. And Trump is weighing renewed attacks.
+ Teenage Wasteland: “Two teenage brothers from the Republic of Congo were living their version of the American dream. They were leaders on their high school basketball team and involved in their local church. The elder was weeks away from graduating. That dream was thrown into upheaval this month when the brothers were detained by ICE agents … Their detention has crushed the school community in their conservative small town.” They Left for the School Bus. ICE Picked Them Up Instead. (Feel safer?)
+ Blinded By Science: “He opened it to find a half-dozen federal agents carrying guns and wearing tactical gear, including bulletproof vests … The agents did not harm Morens, but took off his pants and shirt, handcuffed him.” Guns and bulletproof vests: How federal agents arrested Fauci aide. (It’s a metaphor for the way all science has been treated by this administration.)
+ Soccer Pitch: “The sticker shock appears to have driven some fans away. The Athletic obtained a document dated April 10 reportedly sent to local organizers indicating that fewer than 41,000 tickets had been sold for the U.S. team’s group stage opener against Paraguay at Los Angeles’ SoFi Stadium on June 12 despite a listed seating capacity of just under 70,000.” World Cup: Will high ticket prices lead to empty seats?
+ Junior’s Mint: Amazon Discusses ‘Apprentice’ Reboot—With Don Jr. as a Potential Host. (Those are some pretty big bonespurs to fill…)
