Author: The Center Square

Former CEO: High Interest Rates ‘Killing’ Companies as Layoffs Continue

The Center Square
Bob Nardelli

President Joe Biden is blaming corporations for high prices and “shrinkflation.” Business executives and many economists disagree, arguing the real problem is inflation created by federal deficit spending policies.

Ahead of the Super Bowl, Biden posted a video on X saying, “While you were Super Bowl shopping, did you notice smaller-than-usual products where the price stays the same? Folks are calling it Shrinkflation and it means companies are giving you less for every dollar you spend. I’m calling on the big consumer brands to put a stop to it.”

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Q1 2024: Most Illegal Border Crossers Apprehended at Northern Border in U.S. History

The Center Square
Illegal Immigrants

In the first quarter of fiscal 2024, more foreign nationals were apprehended illegally entering the northern border than at any time in U.S. history.

They totaled 60,602, according to new data from U.S. Customs and Border Protection.

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Gov. McMaster Signs Bill to Ban ESG from South Carolina’s Retirement System

The Center Square
Gov. Henry McMaster

South Carolina Gov. Henry McMaster ceremonially signed a measure mandating the state’s retirement system to consider only “pecuniary factors” when making investment decisions.

H.3690, the ESG Pension Protection Act, effectively bans the South Carolina Retirement System Investment Commission from weighing environmental, social and governance factors and orders the system to maximize the highest rate of return for beneficiaries. The state House passed the measure by a 103-5 margin, while the state Senate passed it 45-0.

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Nearly 243,000 Illegal Border Crossers Reported in January

The Center Square
Illegal Immigrants Desert

There were nearly 243,000 illegal border crossers reported in January nationwide, according to new data released by U.S. Customs and Border Protection.

They include 176,205 illegal border crossers along the southwest border. The majority, 124,220, were apprehended between ports of entry.

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South Carolina House Passes Clean Constitutional Carry Bill

The Center Square

The South Carolina House advanced a clean Constitutional Carry bill, returning the measure to the state Senate and potentially setting up another showdown.

The state House rejected a Senate-amended version of H.3594, the South Carolina Constitutional Carry/Second Amendment Preservation Act of 2023. In a letter, the head of a pro-gun rights group said Senate-introduced amendments violate the Second Amendment.

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U.S. Senate Passes $95 Billion Foreign Aid Bill to Ukraine, Israel

The Center Square
Chuck Schumer

The U.S. Senate passed a $95 billion foreign aid bill for Ukraine, Israel and Taiwan after days of delay from Republicans who did not want to pass the funding without provisions to secure the southern border.

The legislation passed early Tuesday morning after a filibuster largely led by U.S. Sen. Rand Paul, R-Ky., ended. Now the legislation goes to the House, where it remains unclear if they can get the votes.

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Report: Farm, Food Prices Rise Under Net-Zero Climate Rules

The Center Square
Farmer Working

Farms and families will pay significantly more under the Biden administration’s net-zero climate policies, a new report from an Ohio-based policy group says.

The Buckeye Institute’s Net-Zero Climate-Control Policies Will Fail the Farm shows farmers will see a 34% rise in operational costs under the policies and family grocery bills will increase 15% based on modeling.

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Operation Lone Star Border Security Funding Totals More than Multiple State Budgets

The Center Square
Texas Dept of Public Safety

The Texas legislature has allocated more than $11.6 billion to border security efforts over a four-year period, the most in state history.

It totals more than multiple state fiscal year budgets and more than what the Trump administration allocated to federal border security efforts in Texas.

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Report: Unfunded Cost of Retirement Benefits Reaches $1.14 Trillion

The Center Square
New Jersey Capitol

New Jersey, California, New York, Texas and Illinois face a hundred billion plus deficit when it comes to paying for the benefits other than pensions promised to state retirees.

The State of New Jersey’s unfunded liability for post-retirement benefits other than pensions in state health care plans reached $174.9 billion in 2022. That was the highest in the country, according to a report by the American Legislative Exchange Council. The report stated the nationwide costs of state-sponsored post-retirement benefits reached $1.14 trillion in 2022.

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