The Debt Limit Explained

No corner of the global economy will be spared.

As President Joe Biden met with congressional leaders again today to

President Joe Biden and House Speaker Kevin McCarthy at The White House

resolve the nation’s impending debt limit crisis, many Americans are confused as to what this particular situation, if left unresolved, will do to our economy. Understanding how the U.S. Treasury pays its obligations, as well as how investors far and wide will be impacted, thus creating a potential global chain reaction of economic downturns, is kind of complicated. Continue reading “The Debt Limit Explained”

AP: 528,000 Jobs Added In July

Unemployment Drops to 3.5%

The Associated Press reported this morning that the employers added

Multi Colored Business Graph With Red Arrow Sign Showing Upward Direction

528,000 jobs to their payroll in July, 2022. This dropped the unemployment rate to 3.5%, something that hasn’t been seen in the United States in over 50 years. These figures bring the American employment market back to pre-pandemic levels of February 2020.

250,000 Jobs Were Expected

The jobs report more than doubles what economists had expected for July. While this is good news for the American economy, certain anxieties still exist about rising inflation and the risk of recession. While income has risen on average just over 5% in the past year, inflation has risen just over 9%, which has eaten up any financial gains on behalf of workers. This, combined with the Federal Reserve’s plan to continue to raise interest rates, has some worried about how the economy will fare as we near the 2022 midterm elections in June. Wall Street has also reacted with stocks dropping slightly as of this posting.

Read the entire Associated Press article here.

AP: Nearly 400 Uniformed Officers Responded to Uvalde Massacre

Report Finds ‘Systemic Failure’ In Law Enforcement Response to Robb Elementary

An 80 page bipartisan report was released today detailing the events that took place before, during, and after the tragic shooting at Robb Elementary School in Uvalde, Texas on May 24, 2022.

As the Associated Press reported, 376 law enforcement officials arrived at Robb Elementary school before and during the incident, in which a lone 18 year old gunman killed 21 people, including 19 students and 2 teachers, and wounded 17 others. Continue reading “AP: Nearly 400 Uniformed Officers Responded to Uvalde Massacre”