(FREE) PAINE IN THE MORNING: What you need to know this Monday – February 6, 2023

Here’s what you need to know today, Monday – February 6, 2023.

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The Chinese ‘Spy Balloon’ Story As Manufactured Crisis: An Alternative Reading –Previous constant headlines of the Ukraine-Russia war were put on pause Friday into Saturday as the American public’s attention and discourse got temporarily consumed by the bizarre Chinese ‘spy balloon’ saga, which grew more dramatic by the hour until it was shot down by the Pentagon over the Atlantic Ocean.

But few are currently asking the necessary deeper questions related to the timing. Given the last major balloon crisis to take over 24/7 network news coverage ended up being a complete hoax (remember the “balloon boy” stunt of 2009 which had the world breathless and on edge for a full news cycle?), the current context to the Chinese balloon story and the question of cui bono is worth a deeper dive… – READ MORE

Americans Continue To Flee High-Tax New York And California — Here’s Where They’re Going – Last year the exodus out of the high-tax, high-crime Democratic strongholds of California, New York and Illinois continued, according to a report from the National Association of Realtors.

In 2022, 343,000 people left the Golden State, while 299,557 left New York, and 141,656 left Illinois, Bloomberg reports. – READ MORE

Hamburger Prices Might Continue To Rise As US Cattle Herd Shrinks – Consumers grappling with elevated food inflation might be in for another surprise: A shrinking US cattle herd indicates tight livestock supplies for years.

A decline in cattle herds and high production expenses will translate into higher beef prices at the grocery store. We documented this trend last fall (read: “Dwindling US Cattle Herd Implies Supermarket Beef Prices May Rise Even More”). – READ MORE

New Student Loan Rule To Cost $361 Billion; Study Shows Debt Forgiveness Benefits The Wealthy – A new rule proposed by the Department of Education could cost up to $361 billion over the next decade, while a separate study says President Joe Biden’s landmark student loan forgiveness plan benefits the wealthy.

The White House recently confirmed that more than 16 million people were approved for its student loan forgiveness program. Since October 2022, approximately 26 million people have applied for student debt relief. The borrowers will be approved for the aid if the initiative survives a legal challenge in the Supreme Court in February. – READ MORE

Biden Admin Floats New Strategy To ‘Address the Climate Crisis’: Don’t Leave Your House – The COVID-19 pandemic wasn’t all bad, a new Biden administration plan to fight climate change argues: It at least “highlighted major opportunities” to reduce travel demand and lower carbon emissions through “remote work and virtual interactions.”

The plan—which President Joe Biden’s Environmental Protection Agency and Energy, Transportation, and Housing departments released in January—aims to “eliminate nearly all greenhouse gas emissions” from the transportation sector by 2050, mostly through a transition to electric vehicles. Also included in the plan, however, is a controversial call to reduce “commuting miles” through “an increase in remote work and virtual engagements,” including in education. – READ MORE

DoD: $2.17 Billion in ‘Additional Security Assistance’ for Ukraine – On Feb. 3, the Department of Defense (DoD) announced $2.175 billion in “additional security assistance” for Ukraine, raising the total value of assistance provided to $29.3 billion since Russia’s invasion of Ukraine on Feb. 24, 2022.

This installment of aid comes in the form of President Joe Biden’s 31st drawdown, which the DoD values at up to $425 million, paired with $1.75 billion through the Ukraine Security Assistance Initiative (USAI) funds. – READ MORE