The Hill’s 12:30 Report — Dropping gas prices drowned out by continued inflation

FILE – A hiring sign is displayed at a restaurant in Schaumburg, Ill., Friday, April 1, 2022. More Americans applied for jobless benefits last week, reported Thursday, Aug. 4, 2022, as the number of unemployed continues to rise modestly, though the labor market remains one of the strongest parts of the U.S. economy. (AP Photo/Nam Y. Huh, File)

To view past editions of The Hill’s 12:30 Report, click here: https://bit.ly/30ARS1U 

To receive The Hill’s 12:30 Report in your inbox, please sign up here: https://bit.ly/3qmIoS9

–> A midday take on what’s happening in politics and how to have a sense of humor about it.* 

*Ha. Haha. Hahah. Sniff. Haha. Sniff. Ha–breaks down crying hysterically.

NEWS THIS MORNING 

The good news: Gas prices are down. 

The bad news: Food prices are still rising.:

Despite gasoline prices dropping significantly, consumer prices rose 0.1 percent in August after remaining steady in July. 

What economists had predicted would happen: Economists thought there would be a 0.1 percent *decline* in inflation last month due to the dropping gas prices. 

What this increase means for the economy: “While the annual inflation rate still fell to 8.3 percent in August from 8.5 percent in July, sharp increases in prices for food and household staples will likely be a cause of concern for the Federal Reserve and other policymakers.” 

Price increases by categoryvia The Hill’s Sylvan Lane 

‘GET READY FOR A FOOD FIGHT: HIGH GROCERY COSTS ARE HERE TO STAY’
Via Politico’s Garrett Downs, “As inflationary pressure retreats in some areas, grocery bills have remained high. Republicans have seized on the opportunity, but culinary messaging is awash with pitfalls.” The full read 

THE QUESTION WE ALL HAVE — ‘HOW IS THE ECONOMY DOING?’
The New York Times’s Ben Casselman and Lauren Leatherby give some helpful context as to where the U.S. economy stands. 

It’s Tuesday! We have nine days until the official start to fall, so enjoy these last few days of summer! I’m Cate Martel with a quick recap of the morning and what’s coming up. Did someone forward this newsletter to you? Sign up here.

🔎 In Mar-a-Lago 

I’ll have one slice of cake. And I’ll eat another slice, please.

“Former President Trump’s legal team is trying to have it both ways — insinuating he declassified the documents stored at his Florida home without directly claiming he did so.”  

What Trump’s lawyers are saying: They are saying Trump had the power to declassify documents without explicitly saying that Trump did so. 

Some experts say that’s actually worse — here’s why: “Sitting presidents have broad power to declassify documents, but doing so sets off a chain of events, including notification of the many intelligence agencies that produce and manage that information. [Asha Rangappa, a lecturer at Yale University and a former FBI special agent] said a failure to alert the intelligence community shows Trump wanted the information he took to still have value — something that would be lost in the declassification process.” 

Why did Trump want to keep roughly 300 classified docs?: It’s unclear. “In court filings, the Department of Justice (DOJ) has noted that Trump’s legal team has never offered an explanation for why he retained the records beyond arguing that he has a right to do so under executive privilege.”  

What this could mean legally, via The Hill’s Rebecca Beitsch 

THE DOJ LIKES ONE OF TRUMP’S PICKS TO REVIEW THE DOCS
“The Department of Justice (DOJ) on Monday said in a court filing it would support one of the special master nominees put forward by former President Trump’s legal team to review documents seized during an FBI search of Mar-a-Lago.” Details

💻  In Congress 

Interesting read — lawmakers are *loving* remote work

The Daily Beast’s Sam Brodey reports that “since January, 370 members of Congress, roughly 83 percent of the chamber, have cast a remote vote. Combined, those members have voted remotely 23,154 times—greatly surpassing the 17,263 remote votes that were cast in 2021.” 

And taking that one step further: “A sizable minority of the House has voted remotely on a regular basis. Seventy-seven lawmakers—overwhelmingly Democrats—have voted remotely on 100 or more of the year’s 420 recorded roll call votes. That means roughly one in every six lawmakers has not been present in the U.S. Capitol for at least 25 percent of the roll call votes taken in the House this year.”  

More from Brodey’s review of the numbers 

‘DEMOCRATS WONDER IF THEY’RE MISSING HARRY REID IN NEVADA’
Via The Hill’s Alexander Bolton

📌 In Ukraine

Ukraine has had quite the week:

“The Ukrainian military last week began a counteroffensive that quickly reclaimed territory and pushed Russian troops back to the northeastern border of the country in some places.”  

This is bad news for Russian President Vladimir Putin: “For Russia and Putin, it could force some very tough decisions on conscription and the future of a war that Moscow still insists is merely a special military operation.” 

Keep in mind: “The lightning advance forced thousands of Kremlin troops to make a quick retreat, leaving behind ammunition stockpiles and equipment.”  

Stepping back — why this development is huge: “The Ukrainians’ performance has amplified dissent in Russia, has strengthened President Biden’s hand in rallying support for the country, has opened up new opportunities for Kyiv and is expected to make it harder for Russia to find support from its allies.”  

Where the Russian invasion on Ukraine stands, via The Hill’s Alex Gangitano and Ellen Mitchell 

‘THE STRATEGY BEHIND UKRAINE’S RAPID COUNTEROFFENSIVE WAS DEVISED BY U.S., UKRAINIAN AND BRITISH OFFICIALS.’:
Via The New York Times’s by Julian E. Barnes, Eric Schmitt and Helene Cooper 

‘PUTIN FACES RARE CRITICISM AT HOME AS UKRAINE’S TROOPS RECLAIM GROUND’
From CBS News

🛬 Spotted in Virginia 

*Whisper whisper* *Murmur murmur murmur*

Former President Trump was spotted by YouTuber Andrew Leyden landing at Dulles airport on Sunday. 

Which triggered swarms of media speculation over why he came unannounced: Some of the speculation, via Mediaite’s Colby Hall 

Watch the video: Trump deplanes around the 3-minute, 44-second mark. He appears to be wearing golf shoes. 

^ Ah ha!

AP/Alex Brandon

Business Insider’s Rebecca Cohen reports that former President Trump was seen playing golf at his Virginia course on Monday. 

VIDEO OF TRUMP ON THE GOLF COURSE
NBC News’s Kelly O’Donnell tweeted, “Former Pres. Trump at his Virginia golf property today but not appearing to play as he moved about with a large group.  This video was shot at considerable distance.”Watch

🏛 In other news 

Tidbit from Pence — he was angry, not scared, on Jan. 6

Former Vice President Mike Pence is publishing a memoir in which he reveals how he was feeling as rioters on Jan. 6, 2021, chanted for him to be hanged. 

Excerpt from Axios’s Mike Allen: “I was angry at what I saw, how it desecrated the seat of our democracy and dishonored the patriotism of millions of our supporters, who would never do such a thing here or anywhere else … I was not afraid, but I was angry.”  

When will Pence’s book be published?On Nov. 15

🦠 Latest with COVID 

 THE COVID-19 NUMBERS 

Cases to date: 95 million 

Death toll: 1,045,253 

Current hospitalizations: 15,457 

Shots administered: 610 million 

Fully vaccinated: 67.6 percent of Americans 

CDC data here.

🐥Notable tweets 

That view never gets old

Here’s a photo of the sun peeking through at the U.S. Capitol yesterday. Photo from Bloomberg’s Steven Dennis

On tap 

The House and Senate are in. President Biden and Vice President Harris are in Washington, D.C. 

  • 9 a.m.: Biden received his daily briefing. 
  • 6:30 p.m.: First and last votes in the House. Today’s House agenda 

All times Eastern.

📺 What to watch 

  • 1:35 p.m.: White House press secretary Karine Jean-Pierre holds a press briefing. Livestream 
  • 3 p.m.: Biden hosts an event on the Inflation Reduction Act. First lady Jill BidenVice President Harris and second gentleman Doug Emhoff attend. Livestream 

🥜 In lighter news 

Today is National Peanut Day

Here’s your official list of TV shows to watch if you haven’t already:

Emmy Awards were announced last night for the past year’s best television shows.

Vanity Fair compiled a full list of Emmy winners.

And now, I’ll leave you with a totally innocent dog. Nothing to see here.

Tags 12:30 Report 2024 presidential election Donald Trump Donald Trump Economy HBO inflation Mar-a-Lago President Joe Biden Trump Documents ukraine

Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. Regular the hill posts

Main Area Top ↴
Main Area Bottom ↴

Most Popular

Load more