Now that you know how it works, let’s get started:
[3.9%] – US unemployment fell slightly in July as economy grew (slightly) less than expected 157,000 jobs). The U.S. labor market remains powerful overall, with the employment-to-population ratio hitting a nine-year high. The U3 unemployment rate remains near its lowest level in five decades. Despite a near miss in job creation last month, CNBC Analysis describes the overall picture as “solid,” citing encouraging wage news as well as improvements in another key metric:
In the key salary category, average hourly earnings also met expectations, increasing by 2.7 percent compared to the same period a year earlier. An alternative measure of unemployment that includes discouraged workers and those working part-time for economic reasons, often referred to as the “true” unemployment rate, also fell from 7.8 percent in June to 7.5 percent in July, the lowest since May 2001
AND it is:
Although the reading in July did not meet expectations, Employment figures for previous months have been revised significantly upwards. In May, the figure rose from 244,000 to 268,000, while in June it rose from the originally reported 213,000 to 248,000, for a total upward revision of 59,000 in two months. The average gain over the three-month period was an impressive 224,000.
Add to that last week’s solid GDP report, as well as the powerful wage and consumer confidence numbers we wrote about a few days ago, and we see an confident picture of the economy.
[38 Trillion] – And grave academic studies by a respected former Medicare and Social Security administrator was released this week, sparking a renewed debate about the feasibility of the left’s one-size-fits-all “Medicare for All” health care system. The top price tag cited in headlines about the report — including my own headline — was a staggering $32.6 trillion over ten years. But as I noted in this post , the real number is much higher. Why? The $32.6 trillion (almost identical to the amount reached by the leftist Urban Institute) weaves one of Bernie Sanders’ completely unrealistic assumptions into its basic math. Bernie claims that his socialized agenda will lead to healthcare providers (doctors, hospitals, etc.) simply accepting government payment rates that are 40 percent less across the board than the levels they receive under the private system…all with “absolutely no impact on their ability or willingness to provide service.” That’s pure fantasy.
The number of $32.6 trillion also does not take into account issue of supplemental insurance plans, which are common under the current (and unsustainable) status quo of Medicare and would certainly be a common reality under a national single-payer system. Charles Blahous, who conducted the analysis, used a more realistic formula that “mixes[s]…higher private reimbursement rates and lower public ones.” As soon as this necessary correction was made to his calculations, the total cost increased by 6 trillion dollarsdestroying the left a spurious argument that “Medicare for All” somehow reduce Total American health care spending will increase by $2 trillion; a much more accurate forecast is $4 trillion increase. And how could U.S. taxpayers even begin to pay for all this? Click and cry. It’s strange that left-wing politicians don’t want to face these very unpleasant options honestly. Oh, and “Medicare for All” would throw an estimated 156 million people from their existing range. You can’t keep your plan, America.
[Four] – Total number of key GOP senators boosted by Koch Brothers political network spending. Kochworld game in Wisconsin, Missouri, Florida and Tennessee, but “Indiana, Montana, West Virginia, Ohio and Pennsylvania are not on the list. Nevada, where Republican Sen. Dean Heller is trying to keep his seat in a state that Hillary Clinton won, is also not on the list 99 days before the election.” The Kochs are libertarian megadonors who seem increasingly disillusioned with the Republican Party. While they are analyzing the return on their investment in key issues like reducing federal spending, reforming immigration and supporting free trade, the Kochs seem to have little incentive to continue giving money to a party they generally support. Whether to agree with their priorities and worldview, can you blame them based on the results they’ve seen? “Shut up and get on board with the program” Steve Bannon growlsleaving aside the key point that the current Trump Republican Party agenda is simply this is not a Koch programAnother notable race on this front is the one in North Dakota, where the Koch network actually assisted Democratic incumbent Heidi Heitkamp over GOP candidate Kevin Cramer. Undeterred by the snub, NRSC I abandoned this ad against Heitkamp this week:
Elsewhere on the 2018 Senate map, should Tennessee Democrats be worried about their candidates? disappointing the results in the last primary elections, especially compared to his GOP opponent? And should Texas Republicans be at all concerned about Ted Cruz? average single-digit lead over staunch liberal Beto O’Rourke? Cruz is trailing other statewide Republicans in the latest batch of polls, a modest red flag. I suspect Team Cruz is pushing for five debates because they would like to operate every opportunity to highlight O’Rourke’s very un-Texan policies and political positions.
[One] – That’s the Republican candidate’s point advantage heading into next week’s special congressional election in Ohio, where the GOP hopes to hold on to a seat it has controlled for 36 years. Democrat Danny O’Connor is neck and neck with Troy Balderson, according to modern Monmouth University poll. The district still leans right — voters surveyed said they would prefer a Republican Congress by five points — but President Trump’s approval rating there is slightly below par. O’Connor is running as a centrist, moderate, anti-Pelosi, but he has been forced to admit he would support Pelosi if necessary, and in interview ON Benson and the letterHe dodged questions about single-payer health care while supporting modern gun control measures. If Democrats pull off another Conor Lamb-style victory in the Midwest, expect to hear modern buzz about a large blue wave starting to build. So can the GOP in worse condition than current forecasts suggest?
I used the time machine to go back to 2006/2010. At that point in the cycle, 1/2 to 2/3 of the spots D/R ultimately lost were not yet on our draw list. https://t.co/lXZXYMPerf
— amy walter (@amyewalter) August 3, 2018
[Five] – Number of senior national security officials who took part in the “show of force” White House press conference on Thursday, underscoring the administration’s efforts to combat Russian project in progress interference in the U.S. election. The briefing was attended by the director of national intelligence, the national security adviser, the secretary of homeland security, the director of the FBI and the four-star Army general overseeing cyber command. The optics and the content sent a clear and unified message to the voting public and to the world: Regardless of some presidential equivocations alongside Vladimir Putin in Helsinki a few weeks ago, the U.S. government is fully aware of the ongoing threat from Moscow and takes it very seriously. we discussed this problem with Dana Perino on Fox shortly after the incident:
.@guypbenson:”Efforts to Repel Russian [election] “Interference must come from the federal level.” #DailyRecap photo:twitter.com/ipsPaUgISp
— Fox News (@FoxNews) August 2, 2018
By the way, the comment about Fox host Bill Hemmer in the clip was in reference to a complaint by a liberal guest that in an on-air exchange years ago, Hemmer had questioned the notion that “all 17” U.S. intelligence agencies agree on Russian interference. Hemmer was not wrong to question this particular statisticalthough the final conclusion of the International Crisis Committee (assessed and re-assessed) on the Kremlin’s actions is not up for debate.
[Friday Fun] – After his latest dramatic antics In the White House briefing room, I laughed when I read these Jim Acosta memes:
— Natalie Johnson (@nataliejohnsonn) August 2, 2018
— Ben McDonald (@Bmac0507) August 2, 2018
This critique of Acosta’s emotional performance art is more grave and crushingHowever:
Hey Jim @acostathe job of a real journalist is not to be depressed or ecstatic about what happens at a press conference. It is to ask questions and report the facts about what was said/unsaid. Your feelings, antics + self-promotion are hurting journalism, not helping it. Enough. https://t.co/J1sO8enSBz
— David Shuster (@DavidShuster) August 3, 2018
