The Full Belmonte, 11/16/2023
The Senate passed a bill yesterday to avert a government shutdown.
“What happened? The legislation, which would extend the federal government’s funding into next year, passed by an 87-11 vote. See how your lawmaker voted here.
What now? It goes to President Biden to sign. The government would have shut down just after midnight Saturday without a funding extension.
But it’s not really over: The bill creates two deadlines — Jan. 19 and Feb. 2 — that could lead to more standoffs and possible shutdowns.”
Read this story at Washington Post
Hamas agreed to a tentative deal to free dozens of hostages.
In the deal: The militant group wants a multiday pause in fighting, humanitarian aid, and women and children freed from Israeli jails, in exchange for at least 50 women and children.
What next? Israel has not yet approved the deal. Biden said he helped with the negotiations. About 240 foreign and Israeli hostagesare being held in the Gaza Strip.
Read this story at Washington Post
Biden holds high-stakes meeting with China’s Xi in California
“President Joe Biden greeted his Chinese counterpart Xi Jinping at an estate outside San Francisco today, as the two leaders came face to face for the first time in more than a year.
Biden and Xi are meeting on the sidelines of the annual APEC Summit in the hopes of smoothing over relations, after a year of rising tensions.
The two haven’t spoken since the G-20 summit in Indonesia a year ago. Since then, relations between the countries have deteriorated, after incidents like the downing of a Chinese spy balloon that flew across the U.S. in February.
Biden and Xi are expected to announce a deal to curb the flow of fentanyl from China into the U.S., and agree to reopen a military communications channel that China had closed off after then-House Speaker Nancy Pelosi’s visit to Taiwanlast year.
This year’s APEC summit has drawn hundreds of climate change and war protesters to San Francisco, where they have been blocking off streets and entrances to the event.” [NBC News]
Biden-Xi Summit
Biden and Xi Jinping. Doug Mills/The New York Times
“President Biden and Xi Jinping met at an estate near San Francisco, reaching modest agreements to ease U.S.-China tensions. It was their first conversation in a year.
Biden said China would regulate chemicals that make fentanyl, which has fueled America’s opioid epidemic, and that the two countries’ militaries would resume talks to avoid accidents.
Xi criticized U.S. export controls on advanced computer chips and called for the U.S. to stop sending weapons to Taiwan.
The public exchanges were carefully choreographed. ‘We have to ensure that competition does not veer into conflict,’ Biden said. ‘Planet Earth is big enough’ for both superpowers, Xi replied.
Asked if he would keep referring to Xi as a dictator, Biden said, ‘Well, look, he is.’
Xi signaled that China might send new pandas to the U.S., The Washington Post reports. (The National Zoo in Washington had to return three recently.)
‘He said, Xi said’: Late night hosts joked about the meeting.” [New York Times]
Santos ethics reports finds ‘substantial evidence’ of criminal wrongdoing
“A bipartisan ethics report concludes there is ‘substantial evidence’ that George Santos violated federal criminal laws, which will almost certainly trigger another attempt to expel him from the House.
The explosive report released Thursday by the House Ethics Committee found that Santos spent campaign funds on Botox treatments and lavish Atlantic City trips with his husband. It also details the New York Republican’s efforts to obscure his money trail, as he sought to build a ‘fictional’ financial narrative on official records, according to the 55-page report.”
Read the latest at POLITICO
“Tammy Murphy, the wife of New Jersey’s Democratic governor and a former financial analyst, is running for Robert Menendez’s seat in the Senate.” [New York Times]
States have increasingly restricted records showing the impact of gun violence.
“How? Some have used or created exemptions to public records laws to withhold crime scene evidence, such as photos of mutilated bodies or audio recordings of children’s cries.
Why it matters: Some advocates argue that concealing such material prevents the public from fully understanding the destructive force of weapons such as the AR-15.
A warning: The photos, videos and personal accounts published here are extremely disturbing.”
Read this story at Washington Post
“The mother of a 6-year-old who shot his first-grade teacher in Virginia received a 21-month prison sentence.” - New York Times
Global greenhouse gas levels hit record highs last year.
“What to know: There is ‘no end in sight’ for growth in emissions of planet-warming gases, like carbon dioxide and methane, that drive extreme weather events, a new report said.
What it means: Rising temperatures are set to blow past the world’s climate goals, which could lead to major and irreversible damage to ecosystems and communities.”
Read this story at Washington Post
Clouds are filled with microplastics, perplexing and concerning scientists
“Microplastic pollution is in our oceans and mountains, our food, and even our bodies. And now, according to a new study, microplastics have been discovered in clouds — and they might be affecting our weather. The researchers used computer models to determine how microplastics could have gotten into liquid from clouds. The results indicated clouds that form due to man-made substances such as microplastics could have an impact on the weather and climate of the Earth.” Read more at USA Today
Immigration
“Republican Texas Gov. Greg Abbott is expected to sign a border bill that would create a new crime for entering the state illegally. The bill, SB4, gives law enforcement the power to arrest and order migrants to leave the US, an extraordinary step in the legal battle between the state and the federal government over its efforts to curtail illegal immigration. The legislation has sent ripples of fear throughout the Latino community in Texas — which makes up 40% of the state's population. Civil rights organizations have called the measure ‘anti-immigrant’ and warn it will lead to racial profiling of Latinos across the state. Separately, Gov. Abbott is expected to endorse Donald Trump on Sunday during an anticipated visit from the former president.” [CNN]
Federal regulators are cracking down on ‘influencer’ dietitians.
“How? The FTC warned two food and beverage industry groups and a dozen nutrition influencers yesterday for failing to clearly disclose who sponsored their ads.
Why it matters: It sets a stricter precedent for how brands and influencers must disclose who paid for content on platforms like Instagram and TikTok.”
Read this story at Washington Post
Judge imposes protective order in Georgia election interference case
“The judge overseeing the Georgia election interference case involving former President Donald Trump said he will issue an emergency protective order in the case, after witness videos were leaked.
‘Until we decide what's going to be relevant and admissible, this case should be tried and not in the court of public opinion,’ the judge said.
Fulton County District Attorney Fani Willis requested the order after parts of videotaped statements of lawyers Jenna Ellis, Sidney Powell and Kenneth Chesebro and bail bondsman Scott Hall were made public.
On another legal front, Trump’s attorneys moved for a mistrial today in his $250 million civil fraud case in New York, alleging the judge is biased.” [NBC News]
U.S. Navy warship shoots down drone over the Red Sea
“A U.S. Navy destroyer shot down a drone believed to have been fired from Yemen over the Red Sea today, according to two U.S. officials.
There was no immediate claim of responsibility for the launch, but the Iran-backed Houthi rebels in Yemen threatened this week to attack ships in the region.
The recent aggression in the Red Sea amid the Israel-Hamas war has raised concerns of a wider conflict in the Middle East.
The Houthis claimed responsibility last week for shooting down a U.S. military MQ-9 reaper drone off the coast of Yemen.
And last month, another U.S. warship shot down multiple drones and three cruise missiles fired from Yemen that were headed “potentially towards Israel,” according to the Pentagon.” [NBC News]
Eight teens arrested in beating death of classmate
“Eight teens, ages 13 to 17, have been arrested and booked on suspicion of murder in the beating death of a classmate near a Las Vegas high school, authorities said.
The suspects were among a group of at least 10 people who brutally attacked 17-year-old Jonathan Lewis on Nov. 1, according to police. Video of the beating was recorded and shared on social media.
Lewis had apparently stepped in to defend a friend in a fight over stolen headphones and possibly a stolen marijuana vape pen, according to Las Vegas Police Lt. Jason Johansson.
Police are still working to identify two other suspects, and are asking the public to come forward with information, Johansson said.” [NBC News]
“Hunter Biden has asked the judge in his criminal case to subpoena former President Donald Trump and top officials of his Justice Department, including former Attorney General Bill Barr, alleging ‘vindictive or selective prosecution’ that began in the Trump administration.” [NBC News]
“The estranged wife of suspected Gilgo Beach serial killer Rex Heuermann attended one of his court appearances for the first time today.” [NBC News]
“Sen. Joe Manchin told NBC News he would ‘absolutely’ consider a presidential run, after the West Virginia Democrat announced he won’t seek re-election next year.” [NBC News]
“New Hampshire has announced its presidential primary will take place on Jan. 23, defying President Biden and other Democrats who’ve planned to allow South Carolina to hold the party’s first primary contest.” [NBC News]
Starbucks workers expected to walk off the job on Red Cup Day
“On Thursday, Starbucks gifts a free reusable red holiday cup to customers who order a holiday beverage, while supplies last. But service at some Starbucks locations could be impacted as the Starbucks Workers Union says thousands of employees at hundreds of stores across the country will walk out on Red Cup Day in what it's calling a ‘Red Cup Rebellion.’ Workers will demand the coffee company ‘stop illegally refusing to bargain with baristas over staffing, scheduling and other issues.’ Workers will also demand Starbucks turn off mobile ordering on future promotion days. Read more at USA Today
Starbucks' 2023 holiday cups.
Starbucks
Republicans failed to squash Biden's new student loan repayment plan
“The Senate late Wednesday narrowly struck down a Republican-led effort to overturn President Joe Biden’s generous new student loan repayment plan, which conservative critics slammed as a ‘free college scheme.’ The plan, which has already enrolled 5.5 million borrowers according to the Education Department, would cap interest for borrowers and base monthly loan repayments on their incomes and family sizes. For some borrowers, payments are set to $0. Education Secretary Miguel Cardona has called it the ‘most affordable repayment plan ever.’ Read more at USA Today
Moms for Liberty removes two Kentucky chapter leaders who posed with far-right Proud Boys
“Moms for Liberty says it has removed two Kentucky chapter chairs from leadership positions after the women posed in photos with members of the far-right group the Proud Boys, one of several controversies that the conservative ‘parental rights’ nonprofit has fended off in its rise to national prominence in public education.” Read More at AP News
Nevada attorney general is investigating false electors who aided Trump in 2020
“The attorney general of Nevada is quietly investigating Republican activists and operatives who falsely pledged the state’s six electoral votes to Donald Trump in 2020, despite Joe Biden’s victory in the state.
In recent weeks, investigators have questioned witnesses about the attempts of the so-called alternate electors to present themselves as viable representatives of the states’ voters, according to three people familiar with the probe. Investigators have also asked about documents those people prepared as part of the effort.”
Read more here at POLITICO
“A woman in Nigeria has set a world record for the longest hand-made wig. Helen Williams spent 11 days and two million naira (£2,000: $2,500) creating the hairpiece. It took 1,000 bundles of hair, 12 cans of hair spray, 35 tubes of hair glue and 6,250 hair clips. See the result.” [BBC]
Good morning. We’re covering a surprising shift in economic thinking….
President Biden Haiyun Jiang/The New York Times
A new economics
“A then-obscure think tank named the Roosevelt Institute released a report in 2015 that called for a new approach to economic policy. It was unabashedly progressive, befitting the history of the institute, which was created by trusts honoring Franklin and Eleanor Roosevelt.
The report called for higher taxes on the rich, a higher minimum wage, more regulation of Wall Street, more support for labor unions, more aggressive antitrust enforcement and more government investment in economic growth. National news outlets covered the report while also noting how much of a break it represented with decades of economic policy by both the Democratic and Republican Parties. There was ample reason to be skeptical that much would change.
But much has changed in the past eight years.
President Biden has enacted the biggest government investment programs in decades, two of which — in infrastructure and semiconductor development — received bipartisan support. Both the Biden and Trump administrations showed more interest in antitrust policy than their predecessors. Many states, blue and red, have increased their minimum wages. American workers have become more interested in unionizing, and labor unions in both the auto industry and Hollywood have recently won big victories. Even some Republican politicians speak positively about unions.
‘It’s very surprising this all happened,’ Felicia Wong, the longtime president of the Roosevelt Institute, told me. ‘For a long time, those of us who have been arguing for it were on the outside looking in.’
In today’s newsletter, I want to consider two questions: What explains the shift toward what Wong and her colleagues call (in a new report, released today) a New Economics? And is that shift likely to continue?
Unmet promises
The simplest explanation for the shift is that the old economic approach hasn’t worked very well for most Americans. Starting in the 1980s, the U.S. moved toward an economic policy that’s variously described as laissez-faire, neoliberal or market-friendly. It involved much lower taxes for the wealthy, less regulation of business, an expansion of global trade, a crackdown on labor unions and an acceptance of very large corporations.
The people selling this policy — like Milton Friedman, a Nobel laureate in economics — promised that it would bring prosperity for all. It has not.
Incomes for the bottom 90 percent of workers, as ranked by their earnings, have trailed economic growth, and wealth inequality has soared. For years, Americans have told pollsters that they were unhappy with the country’s direction. Perhaps most starkly, the U.S. now has the lowest life expectancy of any affluent country; in 1980, American life expectancy was typical.
Conventional wisdom rarely changes quickly. Friedman and his fellow laissez-faire intellectuals spent decades on the fringes, before the 1970s oil crisis and other economic problems caused many Americans to embrace their approach. But conventional wisdom can change eventually. And after decades of unmet promises about the benefits of a neoliberal economy, more people have grown skeptical of it recently.
Donald Trump also played a crucial role. He won the Republican nomination in 2016 while defending Social Security and Medicare and criticizing free trade and high immigration, two pillars of neoliberalism. By doing so, he proved that even many Republican voters had drifted from the views of Ronald Reagan and Paul Ryan.
As president, Trump often contradicted his own populist rhetoric. (His one big piece of legislation was a tax cut that mostly benefited the rich.) But he shattered so many basic norms of governance that Democrats came to think they too could discard long-held beliefs. As Neera Tanden, who is now Biden’s top domestic policy adviser, said to me in 2018, ‘Donald Trump has widened the aperture for policy discussions in the United States.’
Still vulnerable
Where does the New Economics go from here?
For all the progress it has made, the movement remains far from its biggest goals. In many ways, Americans are still living in the Reagan era. Taxes on the rich remain low. Corporations are much larger than in the past, and they can often prevent workers from forming unions even when most employees at a work site want to join one. Many progressive proposals, like universal pre-K, remain dreams.
In the short term, the biggest question is probably whether Biden can win re-election, given Trump’s lack of a consistent economic policy. One threat to Biden’s re-election is voters’ unhappiness with the economy’s recent performance, especially inflation.
Today’s high prices are mostly not Biden’s fault, as my colleague German Lopez has explained; inflation has also been a problem in other countries, related to Covid disruptions, the war in Ukraine and other factors. But Biden has failed to persuade voters that he is sufficiently focused on high prices, and they give his overall economic policy much lower marks than they give his specific policies, like the investments in infrastructure and semiconductors.
For all these reasons, the New Economics both has made surprising progress over the past decade and remains vulnerable to reversal.
Related: After ignoring inequality for years, economists are now publishing books about it. They disagree on how to address the problem, The Times’s Jennifer Szalai writes.” [New York Times]
culture
“Justin Torres won the National Book Award for “Blackouts,” his novel about erasure and queer history.
Jimmy Kimmel will host the Oscars for a fourth time next year.
Jennifer Aniston and other “Friends” actors shared their memories of Matthew Perry, who died last month.” [New York Times]
SPORTS
“N.H.L.: An arrest has been made over the death of Adam Johnson, a former Pittsburgh player whose neck was cut by a skate during a match in England.
M.L.B.: Major League Baseball is likely to shorten the pitch clock to 18 seconds from 20 with runners on base next year, to limit game times.
Soccer: Megan Rapinoe underwent successful surgery to repair the Achilles’ tendon that she tore in her final professional game.
Basketball: The N.B.A. suspended Draymond Green for five games over a fight during which he put the Timberwolves’ Rudy Gobert in a chokehold.” [New York Times]
Oakland Athletics' move to Las Vegas approved by MLB owners
READ FULL STORY→ USA Today
“Lives Lived: Joe Sharkey advised business travelers in hundreds of New York Times columns, and survived a midair jet crash in 2006. He died at 77.” [New York Times]