Biden Administration , Will Propose Minimum Tax , on Wealthiest Households.
NBC reports that the Biden administration will propose
a new minimum tax on the wealthiest households
in the United States in its fiscal 2023 budget.
.
The Billionaire Minimum Income Tax plan
is reportedly expected to be released on March 28.
.
The proposed plan would impose a 20% minimum
tax on U.S. households worth over $100 million.
.
America’s imbalanced tax code means
that many millionaires and billionaires
end up paying lower tax rates
than middle class workers, White House fact sheet, via NBC.
The proposal is reportedly meant to put the U.S. government on more solid financial footing, , "building on the progress the Administration
has made to reduce the deficit.".
According to the White House, the proposed
plan could reduce the deficit by nearly
$360 billion over the next ten years.
.
NBC reports that the new tax on the wealthy
would combine with other measures to
reduce projected deficits by over $1 trillion.
.
The new budget also reportedly proposes, "additional smart, targeted investments designed
to spur durable economic growth, create jobs, reduce
cost pressures, and foster shared prosperity —
while more than fully offsetting their cost.".
In 2021, Senate Finance Committee Chair
Ron Wyden, D-Ore., unveiled the
so-called Billionaires Income Tax.
In 2021, Senate Finance Committee Chair
Ron Wyden, D-Ore., unveiled the
so-called Billionaires Income Tax.
However, the proposal to impose tougher
taxes on the 700 wealthiest Americans
failed to make progress.
.
At the time, Senator Joe Manchin
denounced Wyden's proposal as divisive.
Fans Point Out the Twisted Irony , of Netflix's New 'Squid Game' , Reality Competition Series.
NBC reports that news of a new competition series inspired by 'Squid Game' has drawn criticism from fans who say the premise misses the point.
In Netflix's hit series, desperate
contestants participate in deadly versions
of children's games for millions of dollars.
The fictional game can only
have one winner, and all
losing contestants die.
Netflix's new 'Squid Game: The Challenge'
turns the scripted world of
the Korean drama into a reality. .
You’ve seen the drama, now
it’s your chance to take part
in Netflix’s biggest ever
social experiment!, Netflix 'Squid Game: The Challenge' casting call, via NBC.
*Please note: Win or lose,
all players will leave unscathed.
But if you win, you win big!, Netflix 'Squid Game: The Challenge' casting call, via NBC.
Some social media users , pointed out the irony , of the spin-off reality series.
The game is intended to represent
the commodification of suffering
by privileged people, and how watching
people struggle for money and their lives
is seen as entertainment for people who
will never have to experience such things. , Social media user, via NBC.
The game is intended to represent
the commodification of suffering
by privileged people, and how watching
people struggle for money and their lives
is seen as entertainment for people who
will never have to experience such things. , Social media user, via NBC.
Making a real life version goes against
the entire message of the original show
in an almost comical way, Social media user, via NBC.
NBC reports that other social media users echoed
the sentiment, including one tweet which read: , “Did Netflix even watch the show?
Did they glean any meaning from it?”.
According to Netflix, the new reality series will feature 456 players from around the world competing for a $4.56 million cash prize.
According to Netflix, the new reality series will feature 456 players from around the world competing for a $4.56 million cash prize
Credit: Wibbitz Top Stories Duration: 01:31Published
CERN's Latest LHC Experiment , Aimed at Explaining , the Mystery of Dark Matter .
NBC reports that the world's largest
particle accelerator is scheduled to begin
a new phase of operations in just a few weeks. .
NBC reports that the world's largest
particle accelerator is scheduled to begin
a new phase of operations in just a few weeks. .
The Large Hadron Collider is a vast ring of tunnels and detector caverns deep underground that spans over 5 miles across and 16 miles around.
The LHC uses powerful magnets to accelerate
beams of protons and atomic nuclei
around this massive underground ring. .
The accelerator then brings them together
causing a series of high-energy
collisions at near the speed of light.
CERN, the international organization
that runs the LHC, has been upgrading
the accelerator for the past three years. .
The upgraded facility is designed to achieve a higher energy output and has advanced detection equipment capable of better examining the chaotic explosions. .
Scientists hope the upgraded experiment will shed light
on the invisible particles that make up dark matter
and help scientists explain our physical reality. .
NBC reports that the LHC is currently being
tested at low-power, and the first collisions of the
accelerator's third phase operation will begin on July 5.
The reopening comes one day after the 10th anniversary of the LHC's greatest achievement:
the discovery of the Higgs boson on July 4 of 2012.
The reopening comes one day after the 10th anniversary of the LHC's greatest achievement:
the discovery of the Higgs boson on July 4 of 2012
Credit: Wibbitz Top Stories Duration: 01:31Published
Serena Williams , Receives Wild-Card Entry , for Wimbledon.
NBC reports that Serena Williams will
compete at this year's Wimbledon after being
awarded a wild-card entry for singles.
NBC reports that Serena Williams will
compete at this year's Wimbledon after being
awarded a wild-card entry for singles.
Last year, Williams was injured during the first set of her first-round match at the All England Club.
Last year, Williams was injured during the first set of her first-round match at the All England Club.
Since then, Williams has not competed anywhere and her name was absent from the women's singles entry list for this year's Grand Slam tournament.
Since then, Williams has not competed anywhere and her name was absent from the women's singles entry list for this year's Grand Slam tournament.
NBC reports that Williams was among
six women offered a spot in the singles
draw for this year's tournament.
NBC reports that Williams was among
six women offered a spot in the singles
draw for this year's tournament.
Other players to be entered in the draw include:
Katie Boulter, Jodie Burrage and Katie Swan.
Other players to be entered in the draw include:
Katie Boulter, Jodie Burrage and Katie Swan.
Other players to be entered in the draw include:
Katie Boulter, Jodie Burrage and Katie Swan.
Seven of the eight men's wildcard entries
were also announced and included
three-time major champion Stan Wawrinka.
Seven of the eight men's wildcard entries
were also announced and included
three-time major champion Stan Wawrinka.
On June 14, Williams shared the big news
with her fans by posting a photo of her
white shoes on what looked like a grass court.
On June 14, Williams shared the big news
with her fans by posting a photo of her
white shoes on what looked like a grass court.
The image was captioned, "SW and SW19. It's a date.
2022. See you there. Let's Go.".
Williams has won seven of her 23 major
singles championships at Wimbledon. .
Williams has won seven of her 23 major
singles championships at Wimbledon. .
Her last win was in 2016.
In 2021, Williams' right leg buckled, leading to her second mid-match retirement at a Grand Slam tournament since her career began in 1998.
In 2021, Williams' right leg buckled, leading to her second mid-match retirement at a Grand Slam tournament since her career began in 1998
Credit: Wibbitz Top Stories Duration: 01:30Published
Over 82 Million , COVID Vaccine Doses , Have Been Wasted in the US.
NBC reports that 82.1 million COVID vaccine doses have been discarded in America between
December 2020 and May of 2022.
That accounts for over
11% of the doses distributed by
the United States federal government. .
According to the Centers for Disease Control
and Prevention, that is an increase from the
65 million wasted doses reported as of late February.
Over a quarter of those doses
were thrown away by CVS
and Walmart in the U.S.
Over a quarter of those doses
were thrown away by CVS
and Walmart in the U.S.
Five other pharmacies,
including Costco, wasted over
a quarter of the vaccines they received. .
Five other pharmacies,
including Costco, wasted over
a quarter of the vaccines they received. .
In Oklahoma, 28% of the nearly
4 million doses the state received
ended up being discarded.
In Alaska, 27% of the state's
1 million doses were wasted,
according to CDC data.
According to NBC, the overall amount of waste
matches World Health Organization estimates
for a vaccination campaign of this size.
According to NBC, the overall amount of waste
matches World Health Organization estimates
for a vaccination campaign of this size.
However, public health experts
warn the high amount
of waste is still alarming. .
It’s a tremendous loss to pandemic
control — especially in the context
of millions of people around
the world who haven’t even
been able to get a first dose, Dr. Sheela Shenoi, infectious disease expert
at the Yale School of Medicine, via NBC.
NBC reports that a portion of the wasted doses include
batches that expired on the shelf, some that were spoiled
in power outages and others that were just discarded.
NBC reports that a portion of the wasted doses include
batches that expired on the shelf, some that were spoiled
in power outages and others that were just discarded
Credit: Wibbitz Top Stories Duration: 01:31Published
Former Trump White House Adviser, Peter Navarro, Indicted on Contempt Charges.
According to court documents unsealed on June 3, former White House adviser Peter Navarro has been indicted on contempt of Congress charges.
NBC reports that the former
Trump adviser was indicted
by a federal grand jury on June 2. .
Navarro was indicted for contempt after dodging
a subpoena from the House committee seeking
testimony and documents relating to January 6.
Navarro was indicted for contempt after dodging
a subpoena from the House committee seeking
testimony and documents relating to January 6.
According to NBC, court documents
show that the government requested
the indictment be sealed until his , "arrest operation is executed.".
The events leading to the charges
in the indictment have been the subject
of public scrutiny and concern, Federal prosecutors' motion to keep the case sealed, via NBC.
NBC reports that Navarro was indicted on two counts of contempt of Congress. One count was for failing to provide documents, and another was for failing to testify.
NBC reports that Navarro was indicted on two counts of contempt of Congress. One count was for failing to provide documents, and another was for failing to testify.
According to the House Committee,
Navarro played a key role, "in the ex-president’s effort
to overturn the 2020 election.”.
NBC reports that Navarro is the second individual to be charged with criminal contempt of Congress for failing to cooperate with the House's investigation of January 6.
NBC reports that Navarro is the second individual to be charged with criminal contempt of Congress for failing to cooperate with the House's investigation of January 6.
In November, former Trump White House adviser
Steve Bannon was indicted on contempt of Congress
after refusing to answer the House committee's questions. .
NBC reports that contempt of Congress
is punishable by a $100,000 fine
and up to one year in prison.
NBC reports that contempt of Congress
is punishable by a $100,000 fine
and up to one year in prison
Credit: Wibbitz Top Stories Duration: 01:31Published
Biden Administration , Ups US Military Aid to Ukraine , by an Additional $1 Billion.
Biden Administration , Ups US Military Aid to Ukraine , by an Additional $1 Billion.
The announcement was made on June 15.
According to reports, President Joe Biden spoke with Ukrainian President Volodymyr Zelensky on the phone about the additional aid.
I informed President Zelensky that the United States is providing another $1 billion in security assistance for Ukraine, , President Joe Biden, Statement, via CNN.
... including additional artillery and coastal defense weapons,
as well as ammunition for
the artillery... , President Joe Biden, Statement, via CNN.
... and advanced rocket systems that the Ukrainians need to support their defensive operations in the Donbas, President Joe Biden, Statement, via CNN.
We also discussed Secretary Austin’s efforts in Brussels today to coordinate additional international support for the Ukrainian armed forces, President Joe Biden, Statement, via CNN.
The Pentagon confirmed that the U.S. is providing Ukraine with howitzers, ammunition and coastal defense systems.
Defense Secretary Lloyd Austin commented from Brussels to reaffirm the U.S.' commitment to Ukraine.
[The U.S. and Ukraine are] working in lockstep to meet Ukraine’s requests for new capabilities, especially its need for long-range fires, armor and coastal defense, Lloyd Austin, U.S. Defense Secretary, via CNN.
Zelensky thanked Biden on June 15 for his “consistent, unwavering support.”.
The security support from the United States is unprecedented. It brings us closer to a
common victory over the
Russian aggressor, Volodymyr Zelensky, President of Ukraine,
via CNN.
More than $5 billion in aid has been supplied by the U.S. to Ukraine.
The deputy defense minister of Ukraine reiterated that Western assistance in the war against Russia is essential.
Whatever efforts we put, no matter how professional our army is, without the assistance of our Western partners Ukraine will not be able to win this war, Hanna Maliar, Ukraine’s Deputy Defense Minister, via CNN
Credit: Wibbitz Top Stories Duration: 01:31Published
To counter China's flagship trade-and-infrastructure initiative, US President Joe Biden and other G7 leaders formally launched in Germany the Partnership for.. IndiaTimes
Boris Johnson, Joe Biden and other G7 leaders have met in Germany to discuss the issue of Ukraine. Report by ETEMADIL. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Joe Biden is continuing to look for "solutions" after the US Supreme Court overturned the right to access an abortion in a history-making decision that has.. Sky News
The highest American judiciary body made a decision on Friday to overturn the decision made almost five decades ago that granted constitutional protection to abortion rights.
Credit: euronews (in English) Duration: 05:12Published
At least five of Donald Trump's allies sought White House pardons after supporting his attempts to overturn the 2020 election results, witnesses have said. Sky News
Biden Calls for , Gas Tax Holiday.
Biden Calls for , Gas Tax Holiday.
Politico reports that on June 22,
President Biden asked Congress to approve
a three-month pause on federal gas tax.
The request is the president's latest
attempt to provide struggling Americans relief amid surging inflation. .
Biden also encouraged states to follow suit during that time period or offer discounts in other ways.
But Politico reports the idea of a gas tax holiday hasn't gone over well with House Democrats.
I’ve not been a proponent of the gas tax. I just don’t know that it gives much relief, Steny Hoyer, House Majority Leader, via Politico .
Typically, revenue from federal gas tax
funds road-building projects.
Biden says that going forward with a tax holiday is “not going to have an impact on major road construction and major repairs.”.
Biden says that going forward with a tax holiday is “not going to have an impact on major road construction and major repairs.”.
According to the White House, the three-month tax suspension would take $10 billion from the trust fund, but it could be offset via other avenues.
According to the White House, the three-month tax suspension would take $10 billion from the trust fund, but it could be offset via other avenues.
While some lawmakers have expressed support for the idea, Congress doesn't
seem to be on board as a whole
Credit: Wibbitz Top Stories Duration: 01:31Published
Biden Administration Cracks Down , on Conversion Therapy.
Biden Administration Cracks Down , on Conversion Therapy.
Cracks Down on .
On June 15, the White House announced that
President Joe Biden will sign an executive order called
the "Advancing Equality for LGBTQI+ Individuals." .
On June 15, the White House announced that
President Joe Biden will sign an executive order called
the "Advancing Equality for LGBTQI+ Individuals." .
According to a statement, the order is aimed
at cracking down on the "discredited and
dangerous practice" of conversion therapy.
According to a statement, the order is aimed
at cracking down on the "discredited and
dangerous practice" of conversion therapy.
Yahoo reports that the order directs the
Department of Health and Human Services
to expand access to mental health resources. .
The executive order also calls on HHS to, "study and address the disproportionate rates
of child removals that LGBTQI+ parents face,
especially women of color.".
I have no room in my heart for hatred
and I have no time for intolerance,
but we don't live in a world where everyone
feels that way, and this administration
understands that more action is needed, Rachel Levine, HHS Assistant Secretary
for Health Admiral, via Yahoo.
I have no room in my heart for hatred
and I have no time for intolerance,
but we don't live in a world where everyone
feels that way, and this administration
understands that more action is needed, Rachel Levine, HHS Assistant Secretary
for Health Admiral, via Yahoo.
The president of the conservative Ethics
and Public Policy Center, Ryan T. Anderson,
called the executive order "Orwellian.".
According to Anderson, the proposal , "would prevent efforts to help girls identify as girls.
That's what they're calling 'conversion therapy.'".
Meanwhile it'll expand efforts to give
girls puberty blockers and testosterone.
That's what they're calling
'gender affirmation.', Ryan T. Anderson, president of the conservative
Ethics and Public Policy Center, via Yahoo.
Politico reports that the executive order comes
after Florida Governor Ron DeSantis moved
to end gender-affirming care for minors. .
Earlier this month, Florida's Surgeon General
moved to have the Florida Board of Medicine
establish a prohibitive "standard of care." .
The "standard of care" would ban doctors from providing puberty blockers, hormone therapy and gender-reassignment surgery to minors
Credit: Wibbitz Top Stories Duration: 01:31Published
Prime Minister of Canada , Justin Trudeau Has COVID-19.
NBC News reports Prime Minister of Canada
Justin Trudeau has tested positive for coronavirus.
The positive diagnosis comes mere days after Trudeau had met with U.S. President Joe Biden
at the recent Summit of the Americas.
Trudeau broke the news on social media.
I feel okay, but that’s because I got my shots. , Canadian Prime Minister Justin Trudeau, via Twitter.
So, if you haven’t, get vaccinated — and if
you can, get boosted. , Canadian Prime Minister Justin Trudeau, via Twitter.
Biden and Trudeau attended a bilateral meeting
at the Summit of the Americas on June 7.
The two reportedly discussed the war in Ukraine "and joint efforts to make our supply chains and economies more resilient to external shocks.".
Trudeau, Biden and others in attendance
took a "family photo" on June 8.
Biden, 79, is considered high risk, though White House officials say he was not in
"close contact" with Trudeau.
Trudeau also had a meeting with 82-year-old
House Speaker Nancy Pelosi. They were photographed holding hands without wearing masks
Credit: Wibbitz Top Stories Duration: 01:30Published
Lego To Start Producing , Bricks in the United States.
CNN reports toy maker Lego intends to
spend over $1 billion building a factory to produce bricks in the United States.
Lego officials announced on June 15 plans to begin building a 1.7 million square foot factory in Virginia.
When the factory begins operations in 2025,
it will employ nearly 1,800 people.
Lego's Virginia factory will be the company's seventh globally and second in North America.
Previously, Lego had a factory
located in Connecticut, though
the facility shuttered in 2006.
Sales of Lego products have experienced
a pandemic-induced boom,
rising 27% in the last year.
More and more families are
falling in love with Lego building and we are looking forward to making Lego bricks in the U.S.,
one of our largest markets. , Niels B. Christiansen, Lego CEO, via CNN.
Experts say Lego's decision to build a factory in the United States helps address clogged supply chains and increased shipping costs.
Our factories are located close to our biggest markets which shortens the distance our products have to travel. , Carsten Rasmussen, Lego COO, via CNN.
Our new factory in the U.S. and expanded capacity at our existing site in Mexico means we will be able to best support long-term growth in the Americas. , Carsten Rasmussen, Lego COO, via CNN
Credit: Wibbitz Top Stories Duration: 01:30Published
PlayStation's New Tiered , Subscription Service , Available in the US.
On June 13, Sony's new PlayStation Plus
subscription service launched
in North and South America. .
On June 13, Sony's new PlayStation Plus
subscription service launched
in North and South America. .
Gamespot reports that the release ushers
in what Sony has referred to as a "new era"
for the membership service.
Users now have the choice of signing up
for PlayStation Plus Essential, PlayStation
Plus Extra or PlayStation Plus Premium. .
Users now have the choice of signing up
for PlayStation Plus Essential, PlayStation
Plus Extra or PlayStation Plus Premium. .
Each different tier carries its own benefit for users. .
Higher tier members get access to classic games like "Tekken 2" and "Syphon Filter," which dip into PlayStation's extensive back-catalog of games.
Higher tier members get access to classic games like "Tekken 2" and "Syphon Filter," which dip into PlayStation's extensive back-catalog of games.
Current PlayStation Now members will automatically have their subscription transitioned to the Premium tier for no extra charge.
According to Playstation's Jim Ryan, the launch represents a, "massive evolution of our game
subscription service offering.".
The high caliber of content is what sets
PlayStation Plus apart, and the service will
continue to grow with new monthly game
offerings that include some of the most
celebrated titles on PlayStation platforms, Jim Ryan, PlayStation President & CEO, via Gamespot.
The high caliber of content is what sets
PlayStation Plus apart, and the service will
continue to grow with new monthly game
offerings that include some of the most
celebrated titles on PlayStation platforms, Jim Ryan, PlayStation President & CEO, via Gamespot.
We are truly grateful
for the passionate support of our
PlayStation community over the years, Jim Ryan, PlayStation President & CEO, via Gamespot.
Gamespot compares the new Playstation service
to Xbox's Game Pass, which adds and removes
titles from the online catalog regularly.
Gamespot compares the new Playstation service
to Xbox's Game Pass, which adds and removes
titles from the online catalog regularly.
The new tiered subscription service already launched in Japan and other Asian markets.
Credit: Wibbitz Top Stories Duration: 01:30Published
Collectors Accuse
Kim Kardashian , of Damaging Historic , Marilyn Monroe Dress.
'USA Today' reports that Kim Kardashian
may have permanently damaged
a dress worn by Marilyn Monroe.
In 1962, Marilyn Monroe made the dress a piece of American history when she wore it while singing "Happy Birthday" to President John F. Kennedy. .
In 1962, Marilyn Monroe made the dress a piece of American history when she wore it while singing "Happy Birthday" to President John F. Kennedy. .
According to an expert closely familiar with
the famous dress, Kardashian caused irreparable damage
to the garment when she wore it to the 2022 Met Gala.
According to an expert closely familiar with
the famous dress, Kardashian caused irreparable damage
to the garment when she wore it to the 2022 Met Gala.
ChadMichael Morrissette, a museum and costume
exhibit curator, says the damage includes a broken
zipper and missing beads and sequins. .
ChadMichael Morrissette, a museum and costume
exhibit curator, says the damage includes a broken
zipper and missing beads and sequins. .
In 2016, the Monroe dress was auctioned
to Ripley's Believe It or Not! for $4.8 million.
On June 12, Morrissette photographed
the damaged dress and shared the photos with
Marilyn Monroe memorabilia collector Scott Fortner. .
On June 12, Morrissette photographed
the damaged dress and shared the photos with
Marilyn Monroe memorabilia collector Scott Fortner. .
Fortner reposted the photographs
on Instagram along with photos of the dress
before Kardashian wore it to the Met Gala.
Both Kardashian and Ripley's have
expressed that the greatest care was taken
to preserve the 60-year-old dress. .
When you're dealing with
60-year-old material and fabric
and thread and sequins...
everything you do damages it.
Every time you display it damages it. , ChadMichael Morrissette,
Museum and costume exhibit curator,
via 'USA Today'.
When you're dealing with
60-year-old material and fabric
and thread and sequins...
everything you do damages it.
Every time you display it damages it. , ChadMichael Morrissette,
Museum and costume exhibit curator,
via 'USA Today'.
When someone has the audacity
to put it on and walk in it up the stairs,
you're so ignorant to the history
of that piece of fabric that
it makes me so angry, ChadMichael Morrissette,
Museum and costume exhibit curator,
via 'USA Today'.
When someone has the audacity
to put it on and walk in it up the stairs,
you're so ignorant to the history
of that piece of fabric that
it makes me so angry, ChadMichael Morrissette,
Museum and costume exhibit curator,
via 'USA Today'
Credit: Wibbitz Top Stories Duration: 01:31Published
More Than 60% of Americans , Are Living Paycheck to Paycheck, Amid Recession Fears.
Business Insider reports that rising inflation
has impacted consumers across the
United States' income spectrum.
According to a new report from PYMNTS.com and LendingClub, nearly two-thirds of the U.S. are currently living paycheck to paycheck.
According to a new report from PYMNTS.com and LendingClub, nearly two-thirds of the U.S. are currently living paycheck to paycheck.
That amounts to
about 157 million adults. .
That number
is up 9% from 52% in April of last year
to 61% during the same time this year. .
Business Insider reports that it is part
of an upward trend as the
cost of living outpaces wage growth.
36% of those making less than $50,000
annually are living paycheck to paycheck
and have issues paying bills.
The news comes amid fears of a recession
as consumers are already tapping into
savings to make ends meet.
According to PayPal CEO Dan Schulman,
at the current rate of inflation, consumers'
savings could run out by the end of the year. .
According to PayPal CEO Dan Schulman,
at the current rate of inflation, consumers'
savings could run out by the end of the year. .
Meanwhile, JPMorgan Chase CEO Jamie Dimon suggests that consumers in the U.S. have about six to nine months of spending power remaining in their bank accounts.
Meanwhile, JPMorgan Chase CEO Jamie Dimon suggests that consumers in the U.S. have about six to nine months of spending power remaining in their bank accounts.
PayPal's Schulman also points to reduced spending
among lower-income households which
is now impacting middle-income households.
Credit: Wibbitz Top Stories Duration: 01:31Published
Inflation Remains at 40-Year High , But Appears to Be Slowing .
In April, the Federal Reserve's preferred inflation gauge rose 4.9% from the same time in 2021.
In April, the Federal Reserve's preferred inflation gauge rose 4.9% from the same time in 2021.
On May 27, the Commerce Department said that
despite the still-elevated levels of inflation,
price pressures could be easing soon.
On May 27, the Commerce Department said that
despite the still-elevated levels of inflation,
price pressures could be easing soon.
April's inflation rates were reportedly
in line with expectations and reflect
a slowing pace from March's rate of 5.2%.
April's inflation rates were reportedly
in line with expectations and reflect
a slowing pace from March's rate of 5.2%.
However, NBC reports that those figures exclude volatile food and energy prices which are a major contributor to inflation reaching a 40-year peak.
Taking into account food and energy prices, inflation increased 6.3% in April compared to 2022.
The figure still represents a drop
from the 6.6% pace set in March.
According to the data, consumers
continued to spend but have been forced
to tap into savings in order to do so.
Consumers remained undaunted by inflation last month, strongly increasing spending and changing their mix to more services such as at bars and restaurants, and travel and recreation as the weather warms. , Robert Frick, corporate economist
at Navy Federal Credit Union, via NBC.
The spending was fueled in part by higher wages, and also by Americans drawing more money out of savings, which is a giant stockpile of at least $2 trillion, Robert Frick, corporate economist
at Navy Federal Credit Union, via NBC.
In recent months, prices have been driven
higher by the COVID pandemic, disrupted
global supply chains and the war in Ukraine.
In recent months, prices have been driven
higher by the COVID pandemic, disrupted
global supply chains and the war in Ukraine.
In recent months, prices have been driven
higher by the COVID pandemic, disrupted
global supply chains and the war in Ukraine
Credit: Wibbitz Top Stories Duration: 01:31Published
Memorial Day , by the Numbers.
These stats were provided
by WalletHub.
45 million veterans, have served during wartime.
656,000 military service members , have lost their lives
during combat. .
New York was the 1st state , to recognize Memorial Day
in 1873. .
96 members of the 116th Congress , have served in the military. .
60 percent of Americans, plan to barbecue over
Memorial Day weekend. .
260,000 graves, at Arlington National Cemetery are adorned with American flags
Credit: Wibbitz Top Stories Duration: 00:46Published
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