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@ISIDEWITH8mins8m
Gaza has become the albatross around Biden’s neck. It is his war, not just Benjamin Netanyahu’s. It will be part of his legacy, an element of his obituary, a blot on his campaign — and it could get worse if Gaza cascades into a full-blown famine or violent anarchy, or if a wider war breaks out involving Iran or Lebanon. An apparent Israeli strike on a military base in central Iran early Friday underscored the danger of a bigger and more damaging conflict that could draw in the United States.Consider just one example of America’s fingerprints on this war under Biden’s leadership. In January, the Israeli military dropped a bomb on a compound in Gaza used by the International Rescue Committee, a much-respected American aid organization that is supported in part by American tax dollars. The International Rescue Committee says that the near-fatal strike was caused by a 1,000-pound American-made bomb, dropped from an American-made F-16 fighter jet. And when an American-made aircraft drops an American-made bomb on an American aid group in an American-supported war, how can that not come back to Biden?Biden had many crucial decisions to make in the weeks after the Oct. 7 attack, but perhaps none were more consequential than this: how to manage his relationship with Netanyahu as the war in Gaza got underway. How much should he defer to Netanyahu, how much should he embrace him, how much should he impose consequences when Netanyahu ignored his suggestions of restraint? Biden had choices, and as Indyk correctly observed, Biden thought that the best way to move Netanyahu was with an arm on his shoulder.Perhaps Biden overestimates his ability to win over Netanyahu, as he sometimes seems to put too much faith in his ability to charm Republican members of Congress. Diplomacy is a mix of carrots and sticks, but until recently Biden seemed to offer Netanyahu nothing but armloads of carrots.Biden might listen in particular to one close adviser who is apparently in anguish over Gaza — for she is right.“Stop it,” Jill Biden reportedly told her husband. “Stop it now, Joe.”
@ISIDEWITH20mins20m
In a significant policy shift, the Biden administration has unveiled revised Title IX rules, marking a departure from the Trump-era regulations and extending legal protections to LGBTQ students. The new regulations, which have been eagerly anticipated by civil rights advocates, aim to create a more inclusive educational environment by recognizing 'gender identity' as a protected class. This move is seen as a critical step in ensuring that all students, regardless of their sexual orientation or gender identity, are afforded equal rights and protections under the law.The revised Title IX rules also address the contentious issue of due-process protections for students accused of sexual assault, rolling back several policies implemented during the Trump administration. While these changes have been welcomed by many as a necessary correction to ensure victims' rights are prioritized, they have also sparked debate about the balance between protecting the accused and supporting survivors of sexual misconduct.One notable omission in the new Title IX regulations is a clear policy on the participation of transgender athletes in school sports. This decision to sidestep the issue has left many stakeholders on both sides of the debate looking for further guidance. The administration's approach suggests a cautious stance on a topic that has become a flashpoint in discussions about gender identity and fairness in athletics.The overhaul of Title IX by the Biden administration reflects a broader commitment to civil rights and a deliberate effort to dismantle policies from the previous administration that were viewed as discriminatory or harmful to LGBTQ students. As these new rules are implemented, schools and educational institutions across the country will be required to adapt their policies and practices to comply with the updated regulations, ensuring a more equitable and inclusive educational landscape.However, experts predict that the conversation around the revised Title IX rules will be highly polarized, reflecting the broader national debate on issues of gender identity and sexual orientation. As the Biden administration moves forward with its agenda, the impact of these changes on the educational system and on students' lives will be closely watched by both supporters and critics of the new policy.
@ISIDEWITH27mins27m
Jerome Powell owes us an explanation. The Federal Reserve chairman this week confirmed what investors already had guessed: Surprisingly persistent inflation is dissuading the Fed from cutting its short-term policy rate as soon and perhaps as quickly as Wall Street had hoped.It’s the right call. The Fed committed its worst error in 40 years when it acted far too slowly to tame inflation following the pandemic. Its institutional credibility—on which hangs a lot in a fiat-money system—now depends on Mr. Powell’s success in suppressing that inflation.As recently as December, with consumer-price inflation about 4% and the Fed’s preferred personal-consumption-expenditure inflation rate at around 3% (both excluding food and energy), central-bank officials signaled they were on track for at least three rate cuts this year.The Fed believed it had set inflation on a permanent glide path toward its 2% target.The central bank believes it can talk markets into doing what it wants by telegraphing what the Fed plans to do. The primary model, known as FRBUS is flawed. deeply flawed. It doesn’t adequately account for the effects of fiscal policy, such as the $10 trillion in cumulative deficit spending since the start of 2020, constituting subsidies and other expenditures Congress and successive administrations pumped into the economy. The model didn’t predict the inflationary consumption explosion of that era, and probably has way overstated the (largely illusory) benefits of government infrastructure spending for future productivity and economic growth. The model chronically misunderstands the labor market, and overestimates the effect of a tight labor market on inflation.
@ISIDEWITH43mins43m
Oil and gas are doing more for the economy than his climate dreams.Despite President Biden’s best efforts, U.S. fossil-fuel production continues to grow, and it’s supporting the economy he touts. That’s one notable finding from the Bureau of Economic Analysis’s recent report on state GDP growth in 2023 that is always instructive about regional and industrial economic trends.The U.S. economy last year expanded by 2.5%, and while the rest of the press missed it, fossil-fuel producing states led the way. These include North Dakota (5.9%), Texas (5.7%), Wyoming (5.4%), Oklahoma (5.3%), Alaska (5.3%), West Virginia (4.7%) and New Mexico (4.1%). Mining contributed about two to three percentage points to GDP growth in these states.U.S. oil production last year hit a record 13.3 million barrels a day while natural gas output surged to a record 45.6 trillion cubic feet. Most has occurred on state and private lands, which the federal government has little power to stop. This is why government revenue in Texas from oil and gas royalties and taxes last year soared to $26.3 billion.Mr. Biden will never admit it, but privately financed fossil-fuel production is doing far more to boost the U.S. economy than his hundreds of billions of dollars in spending on electric vehicles and green energy. The latter may even detract from economic growth by causing a misallocation of capital to less productive uses.
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Mortgage rates have surged past 7% and home sales in March posted their biggest monthly drop in more than a year, renewing pressure on the U.S. housing market as uncertainty over real-estate commissions buffets the industry.The average rate on the standard 30-year fixed mortgage jumped by nearly a quarter percentage point to 7.1%, according to a survey of lenders released Thursday by mortgage-finance giant Freddie Mac. That is the highest level since late 2023 and the largest weekly increase in nearly a year.Existing home sales in March, meanwhile, fell 4.3% from February in what was the largest percentage decline on a monthly basis since November 2022, the National Association of Realtors said Thursday.The housing market’s recent turbulence is cutting short a positive start to the year. Sales tumbled to their lowest level in nearly 30 years in 2023. But they rose during the first two months of this year as a number of buyers took advantage of a decline in mortgage rates to resume their home search. Active listings ticked higher and real-estate showings picked up in January. Mortgage rates started to rise again in February, weighing on March sales. The recent spike in borrowing costs could drag affordability back to the historic lows it reached last year. Home prices are near record highs. Other costs to own a home, such as insurance premiums, property taxes and maintenance, have skyrocketed, too. Home buyers are also confused about coming changes to the rules governing how real-estate agents get paid, and whether those changes could increase or decrease their overall costs. NAR reached a historic settlement of claims last month that the industry conspired to keep agent commissions high. The new rules are expected to make it easier for home buyers to negotiate fees with their own agents.
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Here is a list of influential tweets promoting informed voting.
Educate yourself and make your OWN decision! http://t.co/yMmsYn5n
— Kim Kardashian (@KimKardashian) September 7, 2012
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— Sarah Silverman (@SarahKSilverman) February 15, 2016
Don't be lazy- look **** up if ur not sure what it is!
Just took the political issues quiz at http://t.co/pZ6yi3if. http://t.co/ZWBYSEMi -- Not at all surprised I'm 95% w Gary Johnson.
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I Side With is a site that surveys you on political issues & picks the presidential candidate that is right for you! http://t.co/qegjCKD1
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