Top Headlines August 5th, 2022: Sen. Sinema to vote yes on spending bill – Sen. Kyrsten Sinema (D-AZ) announced Thursday night she is on board with Senate democrats’ $430 billion Inflation Reduction Act after securing some minor changes to the legislation. “We have agreed to remove the carried interest tax provision, protect advanced manufacturing, and…

The Federal Reserve’s battle against inflation is in full swing. The Fed has already raised interest rates four times in as many months as the inflation rate has soared to 9.1%. While the U.S. has not officially entered a recession, the national economy has shrunk for two consecutive quarters. Straight Arrow News contributor Larry Lindsey…

Cattle ranchers are increasingly selling off their herds, including breeding stock, as widespread drought and heat waves challenge operations. The impacts of the summer conditions could have long-lasting effects on beef prices, which are already high. In June, a heatwave in Kansas killed thousands of cattle, overwhelming producers, who disposed many of the carcasses in…

When it comes to the federal budget, government projections rarely match up with reality. As the federal budget for fiscal year 2023 and beyond gets ironed out, some economists are crying foul. Two federal agencies create federal budget projections: the Congressional Budget Office (CBO) and the Office of Management and Budget (OMB). The CBO scores Congress’ budget.…

A week ago, U.S. Senate Majority Leader Chuck Schumer (D-NY) and Sen. Joe Manchin (D-WV) announced an agreement on a bill that will invest roughly $300 billion in deficit reduction and $369 billion in energy and climate change programs. Dubbed the Inflation Reduction Act, Democrats are racing to ready the bill for a vote even…

Last week, we learned the U.S. economy likely shrank for the second consecutive quarter as the advanced government estimate of gross domestic product came in at -0.9%. Now, the country has been thrust into a politically-heated debate: Are we in a recession? The Biden administration and political appointees say no. “That doesn’t sound like a…

Two and a half years later, childcare centers are still reeling from COVID-19 and parents are paying the price. A recent report from the Connecticut Association of Human Services revealed that labor shortages, low morale among staff, and rising costs add another burden to families already struggling to make ends meet. Straight Arrow News contributor…

It’s being called a “crisis” at the southern border, where a record influx of migrants is entering the U.S. from Mexico. Migrant deaths have reached an all-time high, an identity theft crime spree has emerged, and now Washington, D.C. Mayor Muriel Bowser has mobilized the National Guard to help handle migrants bused in from southern states. Straight…

It only took two weeks for Sen. Joe Manchin (D-WV) to change his mind on how he will vote for the Inflation Reduction Act. Manchin said in a press release he is now voting for an energy and healthcare package after further discussions with Senate Majority Leader Chuck Schumer (D-NY). Details of the full spending…

The Federal Reserve Wednesday announced its fourth interest rate hike in as many months as the central bank tries to rein in 4-decade high inflation. Following its July meeting, the committee voted to raise the benchmark rate by another 0.75%, identical to the supersized hike in June, which hadn’t been done before that since 1994.…