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Senate Republicans Demand McConnell Only Accept Short-Term Spending Bill

Senate Republicans Demand McConnell Only Accept Short-Term Spending Bill

Authored by Joseph Lord via The Epoch Times (emphasis ours),

Senate…

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Senate Republicans Demand McConnell Only Accept Short-Term Spending Bill

Authored by Joseph Lord via The Epoch Times (emphasis ours),

Senate Republicans have vowed to oppose any spending bill that would go on beyond the 117th Congress.

(Left) Sen. Rick Scott (R-Fla.) in Washington on March 30, 2022. (Kevin Dietsch/Getty Images); (Right) Senate Minority Leader Mitch McConnell (R-Ky.) in Washington on Sept. 6, 2022. (Anna Moneymaker/Getty Images)

After a long effort to pass an omnibus spending bill for fiscal year 2023, Democrats were forced to accept a short-term continuing resolution (CR) instead.

CRs, while they prevent the government from shutting down, make no changes to long-term federal spending. Rather, they simply continue to spend at levels set the prior fiscal year.

Earlier this year, Democrats passed a CR that will fund the government through Dec. 16, at which point the government will shut down if lawmakers have not passed a new spending bill.

One of the Democrats’ many agenda items during the lame-duck session is the passage of a more comprehensive omnibus spending bill. In contrast to a CR, an omnibus bill, if passed, would allow Democrats to set appropriations levels for next year even though they’ll be in the House minority.

Because the 118th Congress will sit for the first time on Jan. 3, 2022, allowing a CR to run out before then could give a lame-duck Democrat majority a last-minute chance to fund its policies through all of fiscal year 2023.

This, a group of Republican senators told Senate Minority Leader Mitch McConnell (R-Ky.) in a Nov. 30 letter, is unacceptable.

The letter was written by Sen. Mike Lee (R-Utah) and signed onto by three other Republicans—Sens. Rick Scott (R-Fla.), Ted Cruz (R-Texas), and Mike Braun (R-Ind.).

In it, the coalition demanded that McConnell not allow Democrats to succeed in their efforts to set next year’s spending levels.

“On November 8, 2022, the American people made their voices heard at the ballot box,” the letter opened. “Using the
Democratic process, millions of Americans sent a message—they want divided power in Washington to curb the worst excesses of both parties.”

The four Republicans said they “stand with the voters.”

They wrote, “We believe it would be both imprudent, and a reflection of poor leadership, for Republicans to ignore the will of the American people and rubber stamp an omnibus spending bill that funds ten more months of [President Joe Biden’s] agenda without any check on his reckless policies that have led to a 40-year high in inflation.”

According to the most recent data from the U.S. Bureau of Labor Statistics, inflation has slowed from its peak of over nine percent in June, but it remains high. In October, the value of the dollar dropped by 7.7 percent, a situation that Republicans have blamed on Democrats’ “out of control spending” (pdf).

Since taking unilateral control of the government, Democrats have rushed through trillions in new spending: first with the passage of the $1.9 trillion American Rescue Plan, which received no GOP support, the $1.2 trillion Infrastructure Investment and Jobs Act, and the $740 billion Inflation Reduction Act.

The effect of this spending, the Republicans wrote, has been higher costs for American households. They cited a figure provided by the Committee for a Responsible Federal Budget which estimates that Democrats have authorized $4.8 trillion in new borrowing since Biden took office.

“Since taking office, President Biden has overseen a $4.8 trillion increase in the national deficit, costing the average American household an estimated $753 more a month,” the lawmakers wrote. “It should be up to the new Congress to set spending priorities for the remainder of this fiscal year.”

Concluding the letter the Republicans wrote: “Now is the time for Republicans to get serious about leading America towards a better future.”

They demanded that McConnell not make any deals that would fund the government well into the next fiscal year.

“We must not accept anything other than a short-term Continuing Resolution that funds the federal government until shortly after the 118th Congress is sworn in,” they wrote, demanding that “[no] additional spending, [and] no additional policy priorities should be included.”

Anything more urgent, they added, should be handled as an individual bill rather than as part of an omnibus spending bill.

‘A Lame Duck Spending Blowout’: Roy

This demand, the passage of a short-term “clean” CR with no changes to current spending, has been growing among Republicans.

In the House, Rep. Chip Roy (R-Texas) circulated a letter making similar demands.

In the letter, Roy wrote: “Federal dollars are fueling rampant inflation and funding the Biden administration’s radical agenda. This includes empowering authoritarian bureaucrats at agencies like the IRS and FBI, implementing open-border policies that are threatening our communities, imposing COVID-19 mandates that shut down schools and are forcing our military servicemembers out of their jobs, and advancing self-destructive energy policies.

“As the September 30th federal funding deadline approaches, Republicans must do what is necessary to ensure that not one additional penny will go toward this administration’s radical, inflationary agenda,” he continued. “Any legislation that sets the stage for a ‘lame duck’ fight on government funding gives Democrats one final opportunity to pass that agenda.

“Therefore, we, the undersigned, pledge to the American people to reject any continuing resolution that expires prior to the first day of the 118th Congress, or any appropriations package put forward in the remaining months of this Democrat-led Congress.”

On Dec. 1, Roy re-upped these demands in an op-ed for the Washington Examiner. He described Democrats’ ongoing efforts to pass an omnibus bill as “a lame-duck spending blowout.”

When is $5 trillion still not enough?” Roy quipped. “Answer: When you’re a progressive about to lose your grip on total power.

Later, he wrote: “Taxpayers … deserve better than another rushed backroom deal as lawmakers sprint home for Christmas. Democrats ran all of government for two years but focused on their special spending causes rather than pass individual bills to finance the government. Now with three weeks left in a lame duck, they want to jam the GOP again.”

Roy said that Republicans should not be cowed by Democrats threatening to shut down the government to pass a spending bill.

“The GOP campaigned on a return to regular fiscal order, and why not start now?” Roy wrote. “Democrats can threaten a government shutdown, but they’d own it as the party in control. If Republicans aren’t going to use their power to enforce some fiscal discipline, they might as well stay in the minority.”

What’s Next

Despite opposition to an omnibus bill among both House and Senate Republicans, Democrats could still get what they hope for.

Read more here...

Tyler Durden Sat, 12/03/2022 - 19:30

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Low Iron Levels In Blood Could Trigger Long COVID: Study

Low Iron Levels In Blood Could Trigger Long COVID: Study

Authored by Amie Dahnke via The Epoch Times (emphasis ours),

People with inadequate…

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Low Iron Levels In Blood Could Trigger Long COVID: Study

Authored by Amie Dahnke via The Epoch Times (emphasis ours),

People with inadequate iron levels in their blood due to a COVID-19 infection could be at greater risk of long COVID.

(Shutterstock)

A new study indicates that problems with iron levels in the bloodstream likely trigger chronic inflammation and other conditions associated with the post-COVID phenomenon. The findings, published on March 1 in Nature Immunology, could offer new ways to treat or prevent the condition.

Long COVID Patients Have Low Iron Levels

Researchers at the University of Cambridge pinpointed low iron as a potential link to long-COVID symptoms thanks to a study they initiated shortly after the start of the pandemic. They recruited people who tested positive for the virus to provide blood samples for analysis over a year, which allowed the researchers to look for post-infection changes in the blood. The researchers looked at 214 samples and found that 45 percent of patients reported symptoms of long COVID that lasted between three and 10 months.

In analyzing the blood samples, the research team noticed that people experiencing long COVID had low iron levels, contributing to anemia and low red blood cell production, just two weeks after they were diagnosed with COVID-19. This was true for patients regardless of age, sex, or the initial severity of their infection.

According to one of the study co-authors, the removal of iron from the bloodstream is a natural process and defense mechanism of the body.

But it can jeopardize a person’s recovery.

When the body has an infection, it responds by removing iron from the bloodstream. This protects us from potentially lethal bacteria that capture the iron in the bloodstream and grow rapidly. It’s an evolutionary response that redistributes iron in the body, and the blood plasma becomes an iron desert,” University of Oxford professor Hal Drakesmith said in a press release. “However, if this goes on for a long time, there is less iron for red blood cells, so oxygen is transported less efficiently affecting metabolism and energy production, and for white blood cells, which need iron to work properly. The protective mechanism ends up becoming a problem.”

The research team believes that consistently low iron levels could explain why individuals with long COVID continue to experience fatigue and difficulty exercising. As such, the researchers suggested iron supplementation to help regulate and prevent the often debilitating symptoms associated with long COVID.

It isn’t necessarily the case that individuals don’t have enough iron in their body, it’s just that it’s trapped in the wrong place,” Aimee Hanson, a postdoctoral researcher at the University of Cambridge who worked on the study, said in the press release. “What we need is a way to remobilize the iron and pull it back into the bloodstream, where it becomes more useful to the red blood cells.”

The research team pointed out that iron supplementation isn’t always straightforward. Achieving the right level of iron varies from person to person. Too much iron can cause stomach issues, ranging from constipation, nausea, and abdominal pain to gastritis and gastric lesions.

1 in 5 Still Affected by Long COVID

COVID-19 has affected nearly 40 percent of Americans, with one in five of those still suffering from symptoms of long COVID, according to the U.S. Centers for Disease Control and Prevention (CDC). Long COVID is marked by health issues that continue at least four weeks after an individual was initially diagnosed with COVID-19. Symptoms can last for days, weeks, months, or years and may include fatigue, cough or chest pain, headache, brain fog, depression or anxiety, digestive issues, and joint or muscle pain.

Tyler Durden Sat, 03/09/2024 - 12:50

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Walmart joins Costco in sharing key pricing news

The massive retailers have both shared information that some retailers keep very close to the vest.

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As we head toward a presidential election, the presumed candidates for both parties will look for issues that rally undecided voters. 

The economy will be a key issue, with Democrats pointing to job creation and lowering prices while Republicans will cite the layoffs at Big Tech companies, high housing prices, and of course, sticky inflation.

The covid pandemic created a perfect storm for inflation and higher prices. It became harder to get many items because people getting sick slowed down, or even stopped, production at some factories.

Related: Popular mall retailer shuts down abruptly after bankruptcy filing

It was also a period where demand increased while shipping, trucking and delivery systems were all strained or thrown out of whack. The combination led to product shortages and higher prices.

You might have gone to the grocery store and not been able to buy your favorite paper towel brand or find toilet paper at all. That happened partly because of the supply chain and partly due to increased demand, but at the end of the day, it led to higher prices, which some consumers blamed on President Joe Biden's administration.

Biden, of course, was blamed for the price increases, but as inflation has dropped and grocery prices have fallen, few companies have been up front about it. That's probably not a political choice in most cases. Instead, some companies have chosen to lower prices more slowly than they raised them.

However, two major retailers, Walmart (WMT) and Costco, have been very honest about inflation. Walmart Chief Executive Doug McMillon's most recent comments validate what Biden's administration has been saying about the state of the economy. And they contrast with the economic picture being painted by Republicans who support their presumptive nominee, Donald Trump.

Walmart has seen inflation drop in many key areas.

Image source: Joe Raedle/Getty Images

Walmart sees lower prices

McMillon does not talk about lower prices to make a political statement. He's communicating with customers and potential customers through the analysts who cover the company's quarterly-earnings calls.

During Walmart's fiscal-fourth-quarter-earnings call, McMillon was clear that prices are going down.

"I'm excited about the omnichannel net promoter score trends the team is driving. Across countries, we continue to see a customer that's resilient but looking for value. As always, we're working hard to deliver that for them, including through our rollbacks on food pricing in Walmart U.S. Those were up significantly in Q4 versus last year, following a big increase in Q3," he said.

He was specific about where the chain has seen prices go down.

"Our general merchandise prices are lower than a year ago and even two years ago in some categories, which means our customers are finding value in areas like apparel and hard lines," he said. "In food, prices are lower than a year ago in places like eggs, apples, and deli snacks, but higher in other places like asparagus and blackberries."

McMillon said that in other areas prices were still up but have been falling.

"Dry grocery and consumables categories like paper goods and cleaning supplies are up mid-single digits versus last year and high teens versus two years ago. Private-brand penetration is up in many of the countries where we operate, including the United States," he said.

Costco sees almost no inflation impact

McMillon avoided the word inflation in his comments. Costco  (COST)  Chief Financial Officer Richard Galanti, who steps down on March 15, has been very transparent on the topic.

The CFO commented on inflation during his company's fiscal-first-quarter-earnings call.

"Most recently, in the last fourth-quarter discussion, we had estimated that year-over-year inflation was in the 1% to 2% range. Our estimate for the quarter just ended, that inflation was in the 0% to 1% range," he said.

Galanti made clear that inflation (and even deflation) varied by category.

"A bigger deflation in some big and bulky items like furniture sets due to lower freight costs year over year, as well as on things like domestics, bulky lower-priced items, again, where the freight cost is significant. Some deflationary items were as much as 20% to 30% and, again, mostly freight-related," he added.

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Walmart has really good news for shoppers (and Joe Biden)

The giant retailer joins Costco in making a statement that has political overtones, even if that’s not the intent.

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As we head toward a presidential election, the presumed candidates for both parties will look for issues that rally undecided voters. 

The economy will be a key issue, with Democrats pointing to job creation and lowering prices while Republicans will cite the layoffs at Big Tech companies, high housing prices, and of course, sticky inflation.

The covid pandemic created a perfect storm for inflation and higher prices. It became harder to get many items because people getting sick slowed down, or even stopped, production at some factories.

Related: Popular mall retailer shuts down abruptly after bankruptcy filing

It was also a period where demand increased while shipping, trucking and delivery systems were all strained or thrown out of whack. The combination led to product shortages and higher prices.

You might have gone to the grocery store and not been able to buy your favorite paper towel brand or find toilet paper at all. That happened partly because of the supply chain and partly due to increased demand, but at the end of the day, it led to higher prices, which some consumers blamed on President Joe Biden's administration.

Biden, of course, was blamed for the price increases, but as inflation has dropped and grocery prices have fallen, few companies have been up front about it. That's probably not a political choice in most cases. Instead, some companies have chosen to lower prices more slowly than they raised them.

However, two major retailers, Walmart (WMT) and Costco, have been very honest about inflation. Walmart Chief Executive Doug McMillon's most recent comments validate what Biden's administration has been saying about the state of the economy. And they contrast with the economic picture being painted by Republicans who support their presumptive nominee, Donald Trump.

Walmart has seen inflation drop in many key areas.

Image source: Joe Raedle/Getty Images

Walmart sees lower prices

McMillon does not talk about lower prices to make a political statement. He's communicating with customers and potential customers through the analysts who cover the company's quarterly-earnings calls.

During Walmart's fiscal-fourth-quarter-earnings call, McMillon was clear that prices are going down.

"I'm excited about the omnichannel net promoter score trends the team is driving. Across countries, we continue to see a customer that's resilient but looking for value. As always, we're working hard to deliver that for them, including through our rollbacks on food pricing in Walmart U.S. Those were up significantly in Q4 versus last year, following a big increase in Q3," he said.

He was specific about where the chain has seen prices go down.

"Our general merchandise prices are lower than a year ago and even two years ago in some categories, which means our customers are finding value in areas like apparel and hard lines," he said. "In food, prices are lower than a year ago in places like eggs, apples, and deli snacks, but higher in other places like asparagus and blackberries."

McMillon said that in other areas prices were still up but have been falling.

"Dry grocery and consumables categories like paper goods and cleaning supplies are up mid-single digits versus last year and high teens versus two years ago. Private-brand penetration is up in many of the countries where we operate, including the United States," he said.

Costco sees almost no inflation impact

McMillon avoided the word inflation in his comments. Costco  (COST)  Chief Financial Officer Richard Galanti, who steps down on March 15, has been very transparent on the topic.

The CFO commented on inflation during his company's fiscal-first-quarter-earnings call.

"Most recently, in the last fourth-quarter discussion, we had estimated that year-over-year inflation was in the 1% to 2% range. Our estimate for the quarter just ended, that inflation was in the 0% to 1% range," he said.

Galanti made clear that inflation (and even deflation) varied by category.

"A bigger deflation in some big and bulky items like furniture sets due to lower freight costs year over year, as well as on things like domestics, bulky lower-priced items, again, where the freight cost is significant. Some deflationary items were as much as 20% to 30% and, again, mostly freight-related," he added.

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