Former Treasury Secretary and National Economic Council director Lawrence Summers warned on Tuesday that the United States still has a “serious inflation problem.”
The Consumer Price Index (CPI) rose 8.3% between August 2021 and August 2022, according to a report released on Tuesday by the Bureau of Labor Statistics. The reading marks a decline from the 8.5% year-over-year rate seen in July and the 9.1% year-over-year rate seen in June as gasoline prices continue to fall, although month-over-month prices for food, shelter, and medical services continued to tick upward.
Indeed, core inflation — the price level increase for all items except for food and energy — rose by 0.6% in August, marking a faster rate of increase than July and producing a 6.3% year-over-year rate. Analysts were expecting the measure to rise 0.3%.
“Core inflation is higher this month than for the quarter, higher this quarter than last quarter, higher this half of the year than the previous one, and higher last year than the previous one,” Summers commented on social media.
Summers remarked that median inflation — an alternative metric of core inflation favored by those who once said inflation was “transitory” — rose to “its highest ever reading.” Indeed, median inflation rose from 6.3% in July 2022 to 6.7% in August 2022, according to data from the Federal Reserve Bank of Cleveland.
Merriweather Post left her Palm Beach estate, Mar-a-Lago, to the U.S. government in her 1973 will in the hopes it would serve as a “Winter White House.” Though the property’s prohibitive maintenance cost meant the gift was not accepted, Post’s wish has been fulfilled nevertheless thanks to the election of Donald Trump, the property’s owner, as president.
There have been other local contenders for the Winter White House title. The 1920s-era beachfront 1-acre complex at 1095 North Ocean was once the winter residence for the Kennedy family. The home was sold for $7 million in 1995 to the Castle family, represented by Paulette Koch. Ned Monell of Sotheby’s International held the listing. And last June, Koch sold the erstwhile home of Elmer Bobst, lifelong friend and advisor to Richard Nixon, at 1055 North Ocean for $13 million. According to Koch, the home had an entire “Nixon Wing,” where he stayed during his visits.
As Zeke J. Miller explores in a feature in this week’s issue of TIME, the story of President Trump’s “Winter White House” at Mar-a-Lago in Palm Beach, Fla., is a complicated one. But while Trump’s use of the club may present new challenges, the current President isn’t the first to see the exclusive enclave as a fitting retreat from Washington, D.C.
It was almost exactly 90 years ago, in early 1927, that the cereal heiress and philanthropist Marjorie Merriweather Post and her second husband Edward Hutton celebrated the completion of their new estate in Palm Beach. They named the place after its waterside location: Mar-a-Lago.
“Marjorie said she was going to build a little cottage by the sea,” Hutton was often heard to remark. “Look what we got!”
As TIME explained 40 years later, as Post remained one of the most important and most respected figures in the social scenes of several cities, she had turned the “115-room Spanish ‘cottage’ in Palm Beach” into a place known for “exquisite” hospitality, which was given an additional sheen of importance when John F. Kennedy—whose family had long wintered in Palm Beach—spent a few Christmas vacations in the area during his presidency. (The exact number of rooms has changed over time.) The place became a National Historic Site in 1969.
DC Fire and EMS spokesperson Vito Maggiolo told Fox News the U.S. Secret Service uniformed division and officers from the U.S. Park Police witnessed the strike and immediately began to render aid to the victims.
The Joe Biden administration requested another massive infusion of cash for its war against Russia. The latest short-term spending proposal seeks nearly $14 billion for weapons and economic assistance for Ukraine. Since Russia invaded Ukraine six months ago, the US has sent Kiev tens of billions in weapons and direct economic assistance.
On Friday, the White House asked Congress to approve $13.7 billion in funds to confront Russia in Ukraine as part of a short-term spending package. The Biden administration’s total request is $47.1 billion for a wide array of issues, including Covid, Monkeypox, disaster relief, and the war in Ukraine.
The White House largely supported Kiev’s war effort by transferring arms owned by the Department of Defense to Ukraine’s military. Within the $14 billion for Ukraine, over half will go to buy weapons. $4.5 billion will go towards the Department of Defense replenishing American stockpiles.
The more things change, the more they stay the same. In 2014 the State Department’s Victoria Nuland reportedly was caught on tape planning a coup in Ukraine using Biden’s help.
Victoria Nuland is currently serving as Under Secretary of State for Political Affairs in the Biden – Obama Administration but she was with the State Department under Obama as well. She was instrumental in the affairs in Ukraine at that time. We’ve written about Nuland in the past, especially when it relates to Ukraine. Recently when Nuland was before the Senate no one asked her about her past actions with the Obama gang.
UK government shamefully cooperated with U.S. in torture of al-Qaeda suspects
We Americans have had a painful and difficult national debate over the past 20 years relative to torture. Torture was official U.S. government policy from 2002 until at least 2005, and that iteration was not formally outlawed until passage of the McCain-Feinstein Amendment in 2015. (The torture program was a highly-classified secret from 2002 until I revealed it in a nationally-televised interview in December 2007.)
In truth, torture has been illegal in the U.S. since at least the end of World War II. In 1946, the U.S. Government executed Japanese soldiers who had waterboarded American prisoners of war. In January 1968, the Washington Post ran a front-page photograph showing an American soldier waterboarding a North Vietnamese prisoner.
On the day the photo ran, Secretary of Defense Robert McNamara ordered an investigation. The soldier was arrested, tried, convicted of torture, and sentenced to 20 years in prison. Torture was clearly a crime in 1946 and in 1968. But somehow, due to the legalistic gymnastics of the Bush Administration, torture was somehow magically legal in 2002. The law hadn’t changed; Americans had. It took us until 2015 to come to our collective senses again.
The US has tried very hard to distort China’s neutral stance of calling for dialogue on the Ukraine crisis, with the US State Department asking China to “pressure Russia” to respect the principle of national sovereignty and territorial integrity, and even accusing China of “using Russia to create a new world order.”
China on Thursday said the US, a country which launched a series of wars and military interventions that trample on other countries’ sovereignty, has no qualification to accuse others on the matter.
Chinese Foreign Ministry spokesperson Hua Chunying made the remarks at Thursday’s routine press conference as she had received many questions on Russia’s latest military operations and the China-Russia ties from the media due to the US continually raising odd questions to target China.