Hurricane Idalia Hits Florida

Hundreds of thousands of Florida residents are without power in the aftermath of Hurricane Idalia, which touched down over the Gulf Coast early Wednesday morning.

The storm brought winds that roared up to 130 mph and surges that reached several feet, making it a Category 3 storm and flooding roadways and many homes in Florida’s Big Bend. Two people have died, thus far.

In addition to flooding and power outages, many homeowners are contending with looters bent on taking advantage of their vulnerable circumstances. Some people have dealt with the threat by posting signs that read, “You loot, We shoot.”

By 11 am on Wednesday, Idalia had dropped to Category 1 and moved into Georgia with winds of 90 mph.

Budget Standoff Brewing in Congress

Lawmakers are working to agree on a federal budget before the September 30th deadline and the looming threat of a government shutdown, but some Republicans are unconcerned with the prospect of not making a deal in time.

House conservatives like Rep. Bob Good (R-VA) and Rep. Ralph Norman (R-SC) would rather see parts of the federal government grind to a halt than be allowed to spend tax-payer dollars in a manner they think is frivolous. 

“Eighty-five percent or so of the government continues to operate, and most Americans won’t even miss it,” Rep. Good said. “And if that’s the leverage that we need to utilize to force the Democrats to accept spending cuts and an end to the harmful policies that are, again, crushing the American people — I mean, then we need to do that.”

For now, Speaker McCarthy is asking his party to support a short-term continuing resolution that would keep the government funded while negotiation continues.

Americans Target $1.8 Million

The average American believes they’ll need about $1.8 million in savings to retire well, according to a report from the Milken Institute.

The report also states that the key to achieving this nest egg isn’t a six-figure income or employer-matching 401k plan. Saving early rather than later is the ticket to successful retirement, and the golden age to begin saving for the golden years, the report says, is 25.

In their ideal formula, an individual who saves $100 a week with a 7% rate of return will accrue roughly $1.1 million dollars by age 65. If someone waits until age 35 to employ the exact same plan, they will retire with only $300,000.

“The lack of savings vehicles for many workers is one of the most important issues that policymakers and the private sector must address,” the Milken report noted.

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➤ Rudy Giuliani has been declared legally liable for defamation against two Georgia election workers. The judge ruled against Giuliani “by default” because he failed to present the documents required for the discovery stage of the process. He will now go to trial to determine the amount of damages he’ll be required to pay. (More)

➤ Mitch McConnell went silent for about 30 seconds while speaking to reporters yesterday—appearing to “freeze up” as a result of a medical issue. It’s the second such incident he’s had this summer. (Video)

➤ In Russia, nearly 100 soldiers are being prosecuted per week for going AWOL and refusing to fight in Ukraine. The Russian government has doubled the pay for recruits, but the high death rates are making it difficult to recruit men for the front lines. (More)

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Trust in Traditional Media Is at an All Time Low

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➤ Nebraska broke the world record last night for attendance at a women’s sporting event. 93,003 people showed at the University of Nebraska’s Memorial Stadium for a match between the the Huskers and the University of Nebraska Omaha. (More)

➤ A bar in Milwaukee is going to cover the tab for everyone in the establishment when former Packers QB Aaron Rodgers loses a game with his new team—the New York Jets. (More)

➤ The NFL season is approaching quickly, and the over/under win totals are shifting in Vegas every day. Here is a breakdown of the betting lines: (Read)

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Market Report   8/30/23

➤ Trading of iCoreConnect, a healthcare technology company, was halted upon the discovery that some shares hadn’t converted properly following the company’s merger with FG Merger on August 25th, but the stock shot up yesterday once trading was resumed. (More)

➤ HP shares fell more than 8% after it reported an underwhelming $13.2 billion in revenue during Q3. “Weak printer shipments may impact supplies growth in the medium term, HPQ’s margins remain above pre-pandemic levels, and we worry about the structural health of the printing business and its ability to grow over time,” an analyst at Bernstein wrote. (More) 

➤ Barstool Sports will lay off 100 employees—25% of its workforce. Founder Dave Portnoy, who sold the company for $550 million dollars and recently bought it back, said the cuts have been planned since he recovered control of the company. (More)

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➤ Microsoft is using malware-like popups in Windows machines to get users to switch from Google to Microsoft Bing. “We are aware of these reports and have paused this notification while we investigate and take appropriate action to address this unintended behavior,” says Caitlin Roulston, Director of Communications. (More)  

➤ The James Webb Space Telescope captured an incredible image of a spiral galaxy known as M51, or the Whirlpool galaxy, some 27 million lightyears away. Scientists believe the gravitational influence of a neighboring dwarf galaxy gives M51 its spiral appearance. (Photo) 

➤ The US Military is asking the federal government for $6 billion in funding for a fleet of AI-controlled drones that would cost around $3 million each. The project is part of a response to the military tech buildup happening in China. (More)

➤ 68% of Americans say that America is on the “Wrong Track,” according to a recent poll from Economist/YouGov on the direction of the country. (More)

➤ A pollster working for President Trump sent a memo to high-profile supporters this week, saying that Nikki Haley has “surged” in Iowa since the first GOP debate and that she’s pulled even with DeSantis in New Hampshire. (More)

➤ Support for nuclear energy production is rising in America—on both sides of the political divide. 57% percent of American adults want more nuclear power plants. (More)

➤ A recent survey asked respondents how likely they are to use subtitles when watching TV shows in their own language, and the results were curious: people younger than 30 are far more likely to use subtitles (63%) than those over 65 (just 30%). (More)

➤ Hunters in Mississippi killed the largest alligator ever recorded in the state. It measured 14 feet, 3 inches and weighed over 800 pounds. (Photo)

➤ Subway has constructed a giant blimp that looks like a sandwich, and it’s going to serve lunch at a cruising altitude of about 1,000 feet for several lucky customers per day. (More)

➤ A dog in Argentina managed to put his owner’s car into drive and jump out before the car slammed into a neighbor’s fence. Nobody was hurt, and the whole thing was captured on video. (Watch)

How would you describe the direction of America?

Headed in the Right Direction
Off on the Wrong Track
Not Sure

Wednesday’s Results:

Have you ever visited New York City?

Yes: 68%
No: 32%

Today’s Trivia

Who applied for the first patent of a telescope?