THEY KNOW THAT TARIFFS RAISE COSTS ON CONSUMERS www.bloomberg.com/news/article...

Mary Sheffield will become the first woman elected mayor of Detroit, CNN projects. Follow live updates. https://cnn.it/4oRiL7z

Jay Jones (D) wins the race for Virginia attorney general, NBC News projects.

BREAKING: Dem Rep. Mikie Sherrill has won the race for New Jersey governor. She defeated Republican Jack Ciattarelli to retain Democratic control of the governor's office as Dems win both of the year's gubernatorial races.  Read more: politi.co/49xNGRV

The third woman in this photo is Rep. Chrissy Houlahan. She's also amazing and don't sleep on her political future either.

Imagine a D president were refusing to spend money Congress provided for priorities only important to Rs while also spending money on purposes he wanted that Congress didn’t even provide. Would a funding bill that lets the president keep illegally ignoring the budget be “clean?” Of course not.

“If Congress lays down its arms on its most fundamental authority, I don’t know what leg they’re going to have to stand on,” said Brendan Buck, aide to former GOP House speakers Ryan and Boehner. Agreed. It’s a baffling & frightening threat to the constitutional order. wapo.st/4n5ksgv

Russ Vought has carried out his section of Project 2025 essentially word for word, illegally manipulating and controlling spending inside the White House, overriding enacted laws, the will of Congress, and agency discretion. His section is very short, and I recommend anyone profiling him read it.

boo

Japan is just a few days away from running out of Asahi Super Dry as the producer of the nation’s most popular beer wrestles with a devastating cyber attack that has shut down its domestic breweries www.ft.com/content/bb86...

You know they made sure this wasn’t going to get shutdown.

I always wait until I get home at least.

I don’t expect markets, Congress, or the courts to come to the Fed’s rescue. My piece asks what can the Fed do now to try to protect itself from political control? www.bloomberg.com/opinion/arti...

It’s hard to overstate how big a deal this is - for the economy (ours and globally), for the rule of law, and for the proper and efficient function of government. www.nytimes.com/live/2025/08...

Even the appearance of forcing out a sitting Fed Board member over politics would be a 500 alarm fire for any previous admin Attacking Dr Cook is ridiculous You can yell this is a huge own goal, but they can't hear you over the traffic they're playing in

Well. Here we go

Democrats should focus like a laser on the issue of affordability. Donald Trump is 25 points underwater on the issue of inflation. Since 2024, there has been a 34-point swing against him. Trump promised to lower costs but instead he has driven up prices for working families and small businesses.

Great new analysis from Zach. I worked with Zach back in 2014 on the Senate Budget Committee under Patty Murray.

NYT: “.. the U.S. economy has maintained its reputation as the safest place in the world for investors to put their money .. Trump may be chipping away at that advantage.” @nytimes.com @colbylsmith.bsky.social @bencasselman.bsky.social www.nytimes.com/2025/08/22/b...

Read ours new analysis of OBBBA's impact on kids here⬇️ www.thirdway.org/memo/obbba-i...

The VP is in Ohio today to say OBBBA is good for families. But we did the math🧮. The Republican budget bill is not remotely pro-family on net. In fact, it will leave future generations dangerously worse off. /3

🚨New Budget Analysis🚨 We @thirdway.bsky.social did the math on the Republican Budget Bill--By 2030 it takes more away from kids than potential benefits. By the end of the budget window its a $42B net drain on kid's and their future. /1

We looked 🔎at the final CBO score of the bill and tallied up what could go to kids (like CTC and Trump accounts) what’s taken away (like kids share of SNAP ) and layered in the fact that the next generation👶 faces a growing burden from debt payments as it wasn’t paid for.💸 /2

🚨New Budget Analysis🚨 We @thirdway.bsky.social did the math on the Republican Budget Bill--By 2030 it takes more away from kids than potential benefits. By the end of the budget window its a $42B net drain on kid's and their future. /1

New budget math from @thirdway.bsky.social coming soon.....

Just an innocent bystander, no doubt just out walking his dog.

NEW: CPI Inflation rose to 2.7% year-on-year, increasing 0.2% month-on-month Core CPI inflation rose 3.1% year-on-year, growing 0.3% month-on-month

WSJ finds that an important trend has reversed: low wage workers are no longer seeing faster wage growth than high earners. The Bessent Treasury has frequently cited low wage gains as a success of Trump’s economic management www.wsj.com/economy/jobs...

A fun thing to watch today: TIPS yields! TIPS interest rates are tied to CPI, like social security COLAs. You can’t escape socaec cuts if these guys mess with inflation data. Bond holders can, and TBH I would. A thing to watch and one senators should be asked about before confirmation votes

Trump Is Replacing Billy Long as I.R.S. Commissioner www.nytimes.com/2025/08/08/u...

I am once again asking everyone to please stop being The Worst.

New paper from me explaining "pocket rescissions," an illegal budgetary maneuver the White House is planning to do in the very near future that, ironically, misuses an aspect of the Impoundment Control Act to permanently impound funds. (Thread on the paper) www.americanprogress.org/article/what...

“The National Association for Business Economics (NABE) strongly condemns the removal of Bureau of Labor Statistics (BLS) Commissioner Erika McEntarfer and the unfounded accusations leveled against the work of the agency… A totally apolitical group. files.constantcontact.com/668faa28001/...

The Trump slowdown has arrived

New tariff executive order just released, and the official start date for tariffs was pushed to next week from instead of tomorrow, but we're raising tariffs for roughly 68 countries plus the EU, with some tariffs now as high as 41%. Literally Liberation Day 2 Electric Boogaloo.

Oof. www.whitehouse.gov/presidential...

THEY'RE LITERALLY DOING LIBERATION DAY AGAIN

NEW from me. In today's Washington Post, I show that the Trump White House's promise of $6 to $7 trillion in ten-year tariff revenue is fantasyland math. Tariffs may offset just 3% of ten-year deficits (or 1/6 of the new tax cuts) with lots of economic pain.🧵 www.washingtonpost.com/opinions/202...

15 million people kicked off their health care. Trillions added to the national debt. Republicans are playing a dangerous game and putting your future on the line.

A thing about modern life I don't care for is every service provider hectoring you to give them an online review afterward. Constant texts trying to get me to give gold stars to the plumber, the furniture delivery guy, the pediatric urgent care, etc. THAT'S WHAT THE MONEY IS FOR

Let's put the $3.4 trillion cost of Republican reconciliation law in context. Its tax cuts are so costly that Republicans could have extended all of the expiring tax cuts for families (including millionaires) without cutting SNAP/Medicaid...and it would have cost *less*.

The Speaker is lying

Hello just wanted to say: Public media is a useful public good. It is a source of great local news at a time when local news is being decimated. Also, in my 10 years in public media, I can say people who work here do it because they believe in the mission of informing people. Just noting.

The Republican attacks on wholesome and educational TV programming like Antiques Roadshow, Ken Burns documentaries and Sesame Street is just awful.

President Trump’s agenda of economic chaos just cost Michigan jobs in a very concrete way: We’re talking a once-in-a-generation development project, thousands of union jobs gone, and an economic sea-change that we were working toward in Genesee County and beyond.

New post: I dug into the empirical conservative arguments against Powell and Fed's monetary policy. They involve 4 sleights-of-hand, distractions from what's really happening. With a full-court political assault on the Fed, it's worth understanding them. mikekonczal.substack.com/p/the-four-d...

Serious question: If Biden (or most other politicians) had said this they’d be widely mocked for senility. Why does Trump avoid the same? Is it just because people now take reality denial as a given?

It's always this stupid. Always.

News flash: Trump doesn't give a s**t about your energy bills.