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Chart showing the percentage cut the committee would make to each area of government spending to balance the budget over 10 years. 8 8 8 Deficit 6 6 6 4 4 4 Spending Spending Spending Revenue Revenue Revenue 2 2 2 2023 2033 2023 2033 2023 2033 Current projections Deficits are projected to grow to $2.7 trillion by 2033. 8 8 8 Deficit 6 6 6 4 4 4 Spending Spending Spending Revenue Revenue Revenue 2 2 2 2023 2033 2023 2033 2023 2033 Eliminate by increasing taxes Current projections Eliminate by cutting spending Deficits are projected to grow to $2.7 trillion by 2033. plan to balance budget 50% Projections 1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 2020 2030 2040 2050 Current trajectory 200% of G.D.P. plan to balance budget 50% Projections 1930 1960 1990 2020 2050 Sources: Committee for a Responsible Federal Budget; Congressional Budget Office; Republican Study Committee Note: Both plans were released in 2022 and are based on outdated baseline projections; their debt reduction may differ modestly.

After Russia invaded Ukraine, the West formed what looked like an overwhelming global coalition: 141 countries supported a United Nations measure demanding that Russia unconditionally withdraw. South Korea Indonesia Israel Thailand Japan Saudi Arabia Philippines Afghanistan CambodiaBy contrast, Russia seemed isolated. Eritrea “Russian actions are being distorted” North Korea Russia Belarus Syria Eritrea “Russian actions are being distorted” North Korea Russia Belarus SyriaBut the West never won over as much of the world as it initially seemed. But like many other African countries, South Africa appears careful to balance its growing ties with Russia against maintaining a relationship with the West. Others that provided Ukraine with military support have declined to impose economic sanctions on Russia.

☆ Opinion | Vaccines, Inflation, Abortion: 2022 in Charts
▼ + stars: | 2022-12-30 | by ( Steven Rattner | ) www.nytimes.com time to read: +16 min

By the end of 2022, 23 percent of American women resided in states with effective bans on abortion. June 2022 March 2022 Dec. 2021 Sept. 2022 Dec. 2022 Fed Funds Rate 6% 5 4 3 2 1 2022 2023 2025 2024 Longer run Unemployment 5% 4 3 2 1 2022 2023 2025 2024 Longer run G.D.P. Growth 4% 3 2 1 2022 2023 2025 2024 Longer run Core Inflation 5% 4 3 2 1 2022 2023 2025 2024 Sept. 2022 June 2022 March 2022 Dec. 2021 Dec. 2022 Fed Funds Rate G.D.P. Growth 4% 6% 5 3 4 3 2 2 1 1 2022 2023 2025 2022 2023 2025 2024 2024 Longer run Longer run Core Inflation Unemployment 5% 5% 4 4 3 3 2 2 1 1 2022 2023 2025 2022 2023 2025 2024 2024 Longer run Source: Federal Open Market CommitteeThe sustained period of high inflation left the Fed playing catch-up, as it had initially believed that the surge would prove transitory. 150 100 Xi Jinping addresses in 2017 & 2022 50 1982-2012 Economy Military Market Technology Reform Security Source: Capital EconomicsThen there was China: Our biggest source of imported goods became ever more clearly our biggest strategic adversary.

☆ Climate Change Is Real. Markets, Not Governments, Offer the Cure. - The New York Times
▼ + stars: | 2022-10-28 | by ( Bret Stephens | Mr. Stephens Is An Opinion Columnist. Mr. Winter Is A Staff Photographer On Assignment In Opinion. | ) www.nytimes.com time to read: +32 min

worse-case, highest-carbon-emission scenario.” (The Intergovernmental Panel on Climate Change is the U.N. body that assesses climate change.) How do we weigh the risks of underreacting to climate change against the risks of overreacting to it? While he’s not an expert on climate change, he has spent decades thinking deeply about every manner of risk. That’s particularly true if climate change is akin to cancer — manageable or curable in its earlier stages, disastrous in its later ones. Maybe, I realized, in assessing my newfound concerns about climate change, my long-held beliefs might provide a solution — look to the market.

☆ Beyond Catastrophe: A New Climate Reality Is Coming Into View
▼ + stars: | 2022-10-26 | by ( David Wallace-Wells | Photographs Devin Oktar Yalkin | ) www.nytimes.com time to read: +53 min

Beyond Catastrophe A New Climate Reality Is Coming Into View By David Wallace-WellsYou can never really see the future, only imagine it, then try to make sense of the new world when it arrives. (A United Nations report released this week ahead of the COP27 climate conference in Sharm el Sheikh, Egypt, confirmed that range.) A little lower is possible, with much more concerted action; a little higher, too, with slower action and bad climate luck. There were climate-change skeptics in some very conspicuous positions of global power. New emissions peaks are expected both this year and next, which means that more damage is being done to the future climate of the planet right now than at any previous point in history.

☆ Fed Hikes Interest Rates for a Third Time in a Row
▼ + stars: | 2022-09-21 | by ( The New York Times | ) www.nytimes.com time to read: 1 min

NOW PLAYINGFed Hikes Interest Rates for a Third Time in a Row0:49Biden Praises Deal Between Railroad Unions and Companies1:05Biden Celebrates Inflation Reduction Act as Price Pressures Remain High1:44Biden Attends Groundbreaking for Intel Chip Factory in Ohio0:59Fed Chair Signals Interest Rates Will Stay Elevated to Combat Inflation1:16Biden Is Hopeful That the Economy Is Stabilizing After Jobs Report1:40Fed Chair Warns of Economic Pain Ahead in Fight to Reduce Inflation1:00Biden Signs Landmark Inflation Reduction Act Into Law0:48Biden Points to ‘Historically Strong’ Job Market as G.D.P. Declines1:08U.S. Economy Progressing to ‘Steady, Sustainable’ Growth, Says Yellen1:03Senate Bill Will Combat Inflation Pressures, Biden Says1:00

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