Opposition Questions UK's Defense Spending Increase: The UK government's plan to raise defense spending to 2.5% of GDP faces skepticism from the opposition party, Labour, who call for transparency and question feasibility under current economic conditions.
The UK government's plan to increase defense spending to 2.5% of GDP by 2030 is being questioned by the opposition party, Labour. They have called for transparency regarding the government's financing strategy, expressing skepticism about the feasibility of the plan based on current economic conditions. The defense secretary has suggested that declining inflation may help afford the increase, but this has not alleviated Labour's concerns. Additionally, there have been recent developments in historical sexual offense charges against Sir Geoffrey Donaldson, a former leader of the DUP, and the passing of former Labour MP Frank Field, who was known for his long-standing commitment to welfare and poverty issues. In the US, Joe Biden is set to sign a bill that may lead to the banning of TikTok unless its Chinese owner sells the app. These stories underscore the ongoing challenges and complexities in domestic and international politics.
US Congress passes aid package for Israel, Ukraine, and Taiwan: The US Congress passed a significant aid package to support democracies in Israel, Ukraine, and Taiwan, demonstrating America's commitment to defending these nations.
Despite challenges and opposition, the United States Congress has passed a significant aid package to support democracies in Israel, Ukraine, and Taiwan. This achievement, which took six months of relentless work, demonstrates America's commitment to defending these democracies. Meanwhile, in a different context, the importance of health insurance and celebrating life's special occasions remain constant. The UnitedHealthcare TriTerm Medical plans offer flexible, budget-friendly coverage for nearly three years in some states, while 1800flowers.com provides gifts made with love for various occasions. Despite the unpredictability of the world in the next three years, these essential needs will remain.
Afternoon Briefing Wednesday 24th April
Recent Episodes from Times news briefing
Daily briefing Saturday 21st September
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Evening briefing Friday 20th September
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Afternoon briefing Friday 20th September
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Morning Briefing Friday 20th September
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Evening Briefing Thursday 19th September
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Afternoon briefing Thursday 19th September
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Morning briefing Thursday 19th September
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Evening Briefing Wednesday 18th September
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Afternoon Briefing Wednesday 18th September
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Morning briefing Wednesday 18th September
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Related Episodes
Rwanda: Carry On Deportin’?
BIDENS GOVERNMENT HAS HUGE SPENDING ERRORS AND REFUSSES TO NEGOTIATE A RESPONSIBLE DEBT CEILING
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PODCAST CONTENT LINKS:
Biden doesn't like McCarthy's debt ceiling plan. Biden says it has "huge cuts" to Americans. What he is really saying, it is big cuts to big government and his ability to spend: https://apnews.com/article/speaker-kevin-mccarty-debt-ceiling-biden-1dd542c6c7acfc2287e68e6facae2be4
More than $2 trillion in government "payment errors" have cost taxpayers:
The Genral Accounting Office still sees payment errors as a big problem. And some 78% of these errors were contained within five programs last year - Medicaid, Medicare, the Paycheck Protection program, unemployment insurance, and the earned income tax credit.
https://fortune.com/2023/04/18/payment-errors-federal-government-cost-taxpayers-more-2-trillion/
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Rep. Lauren Boebert on Climate, Energy, and Politics at Heartland Institute Event
At The Heartland Institute's 15th International Conference on Climate Change on February 25, 2023, U.S. Rep. Lauren Boebert of Colorado gave a keynote address. She spoke about the concessions a group of 20 conservatives, including her, got from House Speaker Kevin McCarthy before they would put him in that post. She also talked about how she fights for sensible policy from her perch on the House Resources Committee and the other freedom-oriented policies she fights for in the House of Representatives.
For more information about The Heartland Institute, visit: https://www.heartland.org/
Political post-mortems - and lessons from the past
Eric Leeper on *A Fiscal Accounting of COVID Inflation*
Eric Leeper is a professor of economics at the University of Virginia, a former advisor to central banks around the world, and a distinguished visiting scholar at the Mercatus Center. Eric is also a returning guest to the podcast, and he rejoins Macro Musings to talk about his work on the fiscal accounting of the COVID inflation surge. Specifically, David and Eric discuss fiscal dominance during the pandemic period, how the fiscal theory of the price level explains inflationary trends, the backward and forward-looking fiscal accounting exercises, and more.
Transcript for this week’s episode.
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Eric’s UVA profile
Eric’s Mercatus profile
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Related Links:
*A Fiscal Accounting of COVID Inflation* by Eric Leeper and Joe Anderson
*Fiscal Dominance—What It Is and How It Threatens Inflation Control* by Eric Leeper
*Three World Wars: Fiscal-Monetary Consequences* by George Hall and Thomas Sargent
*The Fiscal Theory of the Price Level With a Bubble* by Markus Brunnermeier, Sebastian Merkel, and Yuliy Sannikov
*George Hall on the History of the U.S. National Debt and Government Financing* by Macro Musings