DML Morning Briefing ~ Thu. Oct. 13

Today is October 13. Below are some of the stories grabbing headlines this morning. I hope you share this briefing as doing so will make you the smartest person in the room.

1 – Inflation increased 0.4% in September, more than expected despite rate hikes
CNBC reports: Prices consumers pay for a wide variety of goods and services rose more than expected in September as inflation pressures continued to weigh on the U.S. economy.

The consumer price index for the month increased 0.4% for the month, more than the 0.3% Dow Jones estimate, according to the Bureau of Labor Statistics. On a 12-month basis, so-called headline inflation was up 8.2%, off its peak around 9% in June but still hovering near the highest levels since the early 1980s.

Excluding volatile food and energy prices, core CPI accelerated 0.6% against the Dow Jones estimate for a 0.4% increase. Core inflation was up 6.6% from a year ago.

The report rattled financial markets, with stock market futures plunging and Treasury yields moving up.

Another large jump in food prices boosted the headline number. The food index rose 0.8% for the month, the same as August, and was up 11.2% from a year ago.

MY TAKE: All while Biden continues to deny it’s happening.

2 – Biden Admin: Home Heating Costs Will Surge This Winter
The Washington Free Beacon reports: (Reuters)—U.S. consumers can expect to pay up to 28% more to heat their homes this winter due to surging fuel costs and a slightly colder weather forecast than last year, the U.S. Energy Information Administration (EIA) projected in its winter fuels outlook on Wednesday.

Nearly half of U.S. households rely on natural gas for heat, with the average cost for those homes expected to rise by 28% to $931 for the October-to-March period from the same time a year earlier, the statistical arm of the U.S. Department of Energy said.

The average cost for a home with gas last winter was $724, far cheaper than other major sources of heat.

MY TAKE: 81 million people voted for this, remember?

3 – White Liberals’ Aren’t ‘Real Democrats,’ CNN Contributor Claims
The Daily Caller reports: Democratic strategist and CNN contributor Paul Begala lamented against “pain-in-the-ass white liberals” late Tuesday and claimed they are not ‘real Democrats.’

The CNN panel discussed President Joe Biden’s chances of gaining momentum among Democratic voters in 2024. Former Democratic presidential candidate Andrew Yang argued voters are concerned about the president’s age surrounding whether or not he will run for a second term.

“Bernie won nine, nine contests. Joe won 44, and I think Bernie maybe has more support than Nina [Turner], so bring it on! What the hell are you worried about? I know you’re not a Democrat anymore, but I am and as a guy who loves Joe Biden, that’s fine, he’ll steamroll any potential Democrat and beat Trump.” Begala said in response to Yang.

Yang then argued Biden performed poorly among voters in the early stages of the 2020 Democratic presidential primary races and that no voter praised Biden for his “energy” and “vigor.” Begala claimed Biden gained low momentum in the the early states because they are “full of white liberals.”

“You’re missing the most important thing, Andrew,” Begala pushed back. “The early states are full of white liberals. They don’t like Joe. Then we move to real Democrats, African Americans in the South, they loved him and he steamrolled everybody, because in my party, the heart and soul of the party are people of color. Not pain-in-the-ass white liberals on Twitter.”

MY TAKE: Uh…. isn’t this racist?  What an IDIOT!

4 – Federal appeals court temporarily restores New York gun law
The Washington Examiner reports: A federal appeals court ruled on Wednesday to undo temporarily a lower court’s decision that blocked New York’s new gun law that would tighten concealed carry requirements.

The 2nd U.S. Circuit Court of Appeals reversed the decision made on Thursday by U.S. District Judge Glenn Suddaby, according to Reuters. The law is now in full effect, according to the office of New York Attorney General Letitia James.

The ruling blocked portions of the legislation to allow the challengers, Gun Owners of America, to pursue the suit against the law, which went into effect on Sept. 1.

Suddaby’s ruling removed several portions of the law, commonly known as the Concealed Carry Improvement Act, including requirements for obtaining a gun license, such as submitting social media accounts for review and a “good moral character” clause. Another aspect of the law that was temporarily removed was the prohibition on carrying guns in public spaces, such as Times Square and subways.

MY TAKE: New Yorkers need to elect Republican leaders across the board next month – the state is going down the drain!

5 – ACT test scores drop to their lowest in 30 years in dramatic pandemic slide
The New York Post reports: This year’s high school graduates scored lower on the ACT college admissions exam than any other class in the last 30 years, showing the toll pandemic-era disruptions has taken on student learning.

The national average composite school for the Class of 2022 was 19.8 — the lowest average score since 1991, according to new data released Wednesday.

“This is the fifth consecutive year of declines in average scores, a worrisome trend that began long before the disruption of the COVID-19 pandemic, and has persisted,” said Janet Godwin, the CEO of the ACT, in a statement.

Roughly 1.3 million students nationwide took the ACT during their senior year — or 36% of recent graduates. And a greater share of students took the exam more than once compared to 2021 grads.

More than 4 in 10 test-takers did not meet any of the ACT’s benchmarks for “college readiness” in English, reading, math and science — suggesting these students whose high school careers were impacted by COVID-19 for larger stretches may have arrived on campus unprepared for high-level coursework.

MY TAKE: This is devastating. The dumbing down of America.