Hello everyone! Welcome back to Trendlines Weekly. If you want to read this on the website it’s here.
I’ll call this a “bonus issue” for now because I’m trying something different. Over the next few days/weeks I’ll be experimenting with the format and frequency of Trendlines Weekly. During that time it will come to you more than once per week - in the end the name might change to something like “Trendlines Digest” that would come out more than once per week, or even “Trendlines Daily” that would arrive in your inbox each weekday.
My goals are to settle on a format that is more valuable for you as a reader and more workable for me as a publisher. I really appreciate your patience during this time of change.
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Trending news
— Ukraine President Volodymyr Zelenskyy tells the U.S. Congress “We need you right now”. Congress has approved $13.6 billion in aid, but some think more will be needed. Nearly 3 million people have left Ukraine, “the fastest exodus in modern times.”
— Could we be done with “springing forward” and “falling back”? The U.S. Senate passed a bill that would make Daylight Saving Time permanent. It still need approval from the House of Representatives and the President.
— House Republicans who challenged Biden’s win are losing lots of corporate cash. They’ve collected about half of the corporate funds in this election cycle compared to the previous one. However, it appears that money from rank-and-file voters may be playing a bigger role in elections compared to the past.
— Are unions making a comeback? Maybe, but it’s an uphill battle.
Backgrounder on how states and cities are spending money from the American Rescue Plan
When it comes to government programs it’s important to distinguish between their goals on the one hand and their results and consequences on the other. The American Rescue Plan is certainly one of the most significant government programs in recent history and one part of it is called the Fiscal Recovery Fund. This $350 billion pot of money had a goal of helping states to recover from the economic devastation caused by the Covid-19 pandemic. The money will be distributed in two installments.
Now there’s a way to see how states are spending the first tranche (or installment) they’ve received so far. In other words, what the results and consequences of the program have been, at least in the short term.
The Center of Budget and Policy Priorities now has a dashboard that makes it easy to find out how your state is spending the money it has received so far and how it compares with other states.
The goals of the funding were to:
Fight the pandemic and support families and businesses struggling with its public health and economic impacts
Maintain vital public services, even amid declines in revenue resulting from the crisis
Build a strong, resilient, and equitable recovery by making investments that support long-term growth and opportunity
But the results of the funding in some states are a bit, what’s the word, eyebrow-raising?
Unfortunately, some states have used the funds for initiatives that do not address the pandemic, the resulting hardships people are experiencing, or the underlying racial and economic inequities the pandemic has made so apparent. Alabama, for example, devoted nearly one-fifth of its funds to build new prisons. Some states used FRF to rebuild their unemployment insurance (UI) trust funds — rather than refilling them gradually in future years through modest employer taxes. A handful of states are using FRF for highway construction or other capital projects unrelated to the pandemic.
The Brookings Institution has put together another tracker for local governments of at least 250,000 people here.
Data points
Have you given up listening to music on CDs? Well, they’re making a comeback.
Is the U.S. facing another Covid-19 wave? Put this in the “gawd, I hope this is not right” category. Some say there is not much cause for concern. Here’s hoping they’re right.
Real average hourly earnings declined 2.6 percent from February, 2021 to February, 2022. After adjusting for changes in the Consumer Price Index, earnings dropped.
Thanks for reading and I’ll see you next time.
Karl Pearson