A Record Drop in the Deficit – By Yuval Rosenberg and Michael Rainey (The Fiscal Times) / July 13, 2022
Happy Wednesday! Have you taken a few minutes to look at the amazing pictures taken by the James Webb Space Telescope?
“It’s not too much to say that a handful of images published over the space of 24 hours has already justified the decades of work and $10 billion invested in the Webb telescope,” The Washington Post’s David von Drehle says.
Back here on Earth, Sen. Joe Manchin appeared to hit the brakes Wednesday on broad portions of the scaled-back spending plan he’s been negotiating with Senate Majority Leader Chuck Schumer after the latest inflation reading came in hotter than expected.
More on those price increases and Democrats’ tenuous talks below.
Inflation — and Tax Hike Trepidation — Could Sink Dems’ Economic Plan
Senate Majority Leader Chuck Schumer (D-NY) is still trying to hash out an agreement on a budget reconciliation bill with Sen. Joe Manchin, the pivotal West Virginia Democrat who holds the keys to his party’s legislative agenda in his reluctant hands. As we reported earlier this week, Democrats have made substantial progress on two key issues: a plan to lower prescription drug costs that would empower the federal government to negotiate some prices in Medicare and a plan to raise taxes on the wealthy, with the revenues dedicated to solidifying Medicare’s finances.
CONTINUE > https://www.thefiscaltimes.com/newsletter/20220713-Record-Drop-Deficit
