| WORDS OF WISDOM | | “I hope I shall possess firmness and virtue enough to maintain what I consider the most enviable of all titles, the character of an honest man.” | | GEORGE WASHINGTON | |
Good morning! Today, we’re covering Social Security’s distribution of nearly $72 billion in improper payments, car prices becoming increasingly unaffordable for many Americans, an upcoming major announcement from the RFK campaign, and the largest downward revision to job numbers since the global financial crisis.
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Car Prices Out of Reach For most Americans, affording a car is far more difficult now than it was before the COVID-19 pandemic, and it’s not getting much easier. The U.S. automotive market is returning to normalcy after years of supply chain issues, depressed demand for new cars, and low vehicle inventories. However, a new or used car is often too expensive for Americans who are already battling inflation. “Cars are not nearly as affordable today as they were five years ago,” Karl Brauer, an executive analyst at car search engine and price aggregation service iSeeCars.com, told our colleague, Austin Alonzo. In 2019, a consumer with a budget of $20,000 could afford about 50 percent of the used cars on the lot in the United States, Brauer said. In 2023, only 13 percent of used cars fell within that price range. Things are harder for new car buyers, especially when high interest rates are added to already elevated car prices. In June, according to Cars Commerce, the average list price of a new car was $49,500. The most desired new car, the Ford F-150, averages about $58,000. Read the full story here› |
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RFK Jr. to Address Path Forward for Campaign Independent candidate Robert F. Kennedy Jr. will address the country on Friday amid speculation about the end of his campaign. RFK’s principal campaign committee announced on Thursday that Kennedy would speak to the nation live on Aug. 23 about the “present historical moment and his path forward.” On Tuesday, Nicole Shanahan, Kennedy’s running mate, said the campaign is considering dropping out and endorsing former President Donald Trump. According to a statement, Kennedy will speak at an as-yet-unannounced location in Phoenix at 2 p.m. Eastern Time. The event will be live-streamed on social media platform X and other social channels. Trump has said he would welcome Kennedy’s endorsement. Trump implied on Tuesday that he would be willing to find a place for Kennedy in a second Trump administration. Read the full story here› |
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US Job Creation Revised Down by 818,000 The U.S. economy from April last year to March this year created 30 percent fewer jobs than what the Bureau of Labor Statistics (BLS) reported. The correction, totaling 818,000 jobs, represents the largest downward revision to payrolls since the global financial crisis. The updated numbers were a part of the Department of Labor’s annual benchmark revisions to the payroll data. The BLS adjusts employment data annually to make the payroll figures more accurate, although it is less timely. Officials incorporate state unemployment insurance tax records and cover almost all U.S. jobs. In the 12 months through March, the U.S. labor market reportedly created 2.9 million new jobs, representing a monthly average of 242,000. Following the revisions, the average monthly employment gains were 174,000. The industries with the largest downward revisions were led by professional and business services (358,000 fewer), leisure and hospitality (150,000 fewer), and manufacturing (115,000 fewer). Read the full story here› How do you like our new sections? Tell us what you think here. |
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 | | A Hero Homing Pigeon | | During the fall of 1870, Paris found itself cut off from the world by a Prussian siege. With communication lines severed, who did the Parisians turn to? Homing pigeons. And it wasn't the last time in history the birds played a heroic role.
Homing pigeons were used to carry thousands of messages during war. In some ways, they faced even more dangers than the soldiers themselves, like bad weather and trained enemy falcons. But one pigeon stood above the rest—Cher Ami, whose bravery saved nearly 200 American soldiers during the Meuse-Argonne Offensive in 1918.
How did a humble pigeon become a wartime hero? The story points to the ingenuity and determination of those who sought to keep communication alive even in the most challenging of circumstances. This one bird, and the thousands of others like it, remind us that history is shaped by even the smallest participants. | | | |
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