Politics

Comment on this storyCommentAbraham Riesman is the author of “True Believer: The Rise and Fall of Stan Lee” and the forthcoming “Ringmaster: Vince McMahon and the Unmaking of America.”Last Friday, after four decades at the helm of World Wrestling Entertainment, Vince McMahon announced his retirement. Given the avalanche of sexual misconduct allegations against him, the news looked like a victory for decency. But nothing is ever quite what it seems in professional wrestling.McMahon is no longer chairman and chief executive of the multimedia firm, nor will he play his character in WWE programming. But he remains the largest single stockholder in the publicly traded company and reportedly controls 80 percent of shareholder votes.This confusion is appropriate. After all, McMahon made his bi...

President Biden on Thursday urged lawmakers in the House to “put politics aside” and pass a bill boosting the manufacturing of semiconductors after Republicans indicated they would oppose the legislation in the wake of a reconciliation package outlined by Democrats. “I hope that the House is going to pass this bill today. My plea is, put politics aside. Get it done,” Biden said during remarks focused mainly on the reconciliation package announced hours after the Senate passed the chips bill.  “We need to lower the cost of automobiles, appliances, smart phones, consumer electronics and so much more. All of these things are powered– almost everything in our lives is powered by these semiconductors and tiny computer chips,” Biden added. The chips bill, Biden argued, woul...

Washington — President Biden is delivering remarks Thursday on the new health care, tax and climate package unveiled by Senate Majority Leader Chuck Schumer and Sen. Joe Manchin, following news that the U.S. economy contracted for the second consecutive quarter."Simply put, the bill will lower health care costs for millions of Americans and it will be the most important investment, not hyperbole, the most important investment that we've ever made in our energy security," Mr. Biden said in remarks from the White House, adding it's a "big deal."Called the Inflation Reduction Act, the plan was announced by Schumer and Manchin on Wednesday, capping months of negotiations between the two Democrats that, until now, failed to yield a deal. While Manchin had previously expressed concerns about ...

Comment on this storyCommentThe U.S. economy has now shrunk for the second straight quarter, the Bureau of Economic Analysis announced Thursday. The 0.9 percent annualized drop in the second quarter comes on top of a 1.6 percent drop in the first quarter, further raising fears of a recession.While two straight negative quarters of gross domestic product (GDP) isn’t actually the technical definition of a recession — that determination is up to the National Bureau of Economic Research (NBER), which has long emphasized it takes other factors into account — it is the oft-used shorthand for a reason. GDP is the most important indicator, and Thursday’s news increases the already very valid questions about whether we’re in — or could be heading for — a recession.Naturally, this has led to plen...

  R House drag show performers R House Wynwood The R House restaurant in the Miami neighborhood of Wynwood is the target of a complaint filed by Gov. Ron DeSantis' administration, CBS Miami's Najahe reports. The state alleges that the restaurant's drag shows expose minors to sexually explicit conduct.  At the center of the controversy are videos and images of children at the drag shows. The DeSantis administration's complaint, filed Tuesday, says the weekend Drag Show Brunches expose minors to "sexually explicit drag shows." "Having kids involved in this is wrong. That is not consistent with our law and policy in the state of Florida and it's a disturbing trend in our soc...

U.S. economy contracts for second consecutive quarter. The U.S. economy is in recession. For the second quarter in a row, U.S. GDP is down, declining by 0.9% on the heels of a 1.6% decline in the first quarter of 2022. While unemployment remains relatively low, inflation is at a 40-year high and real wages have declined since the beginning of 2021.  This is particularly harmful for families at the lowest end of the wage scale who are squeezed by low savings rates and decreased purchasing power of goods. In addition to food prices spiking by double digit percentages, gas prices have been a huge driver of increasing costs for both business and consumers.  The uncertainty in the oil and gas industry is causing significant problems for business community and average consumers alike.  Cu...