Morning Headlines - Wednesday, Oct 5, 2022

U.S. and World Headlines

What's Next For Elon Musk's Twitter Purchase

It's over. Twitter called Elon's bluff, and Elon caved. Now he gets to own the thing he once wanted to own, in exchange for $44 billion and a face full of egg.

The world's richest man is about to own one of the world's most consequential public squares.

Musk told Twitter via letter that he again is willing to buy the company at $54.20 per share. That's the same price Musk agreed to pay back in April, after which he sued to renege.

Putin’s Mobilization And The Potential For A Political Fallout

On September 21, Russian President Vladimir Putin announced the first large-scale military mobilization since World War II.

In a televised speech, he said that the draft was needed to protect the country and its territorial integrity.

The announcement triggered demonstrations and attacks on draft centers across the country and led to the arrest of – according to the prominent protest monitor OVD-Info – some 2,400 people.

The mobilisation roll-out has appeared chaotic.

Five Reasons Why China's Economy Is In Trouble

China's economy is slowing down as it adapts to a punishing zero-Covid strategy and weakening global demand.

Official growth figures for the July to September quarter are expected soon - if the world's second-largest economy contracts, that increases chances of a global recession. Beijing's goal - an annual growth rate of 5.5% - is now out of reach although officials have downplayed the need to meet the target. China narrowly avoided contraction in the April to June quarter. This year, some economists do not expect any growth.

The country might not be battling steep inflation like the US and the UK, but it has other problems - the factory of the world has suddenly found fewer customers for its products both domestically and internationally. Trade tensions between China and major economies such as the US are also hampering growth.

And the yuan is on course for its worst year in decades as it plummets against the US dollar. A weak currency spooks investors, fuelling uncertainty in financial markets. It also makes it difficult for the central bank to pump money into the economy.

All of this is happening at a time when the stakes are especially high for President Xi Jinping - he is expected to secure an unprecedented third term at the Communist Party Congress (CPC) which begins on 16 October.

So what exactly has gone wrong?

US Starts Fiscal Year With Record $31 Trillion In Debt

The nation's gross national debt has surpassed $31 trillion, according to a U.S. Treasury report released Tuesday that logs America's daily finances.

Edging closer to the statutory ceiling of roughly $31.4 trillion — an artificial cap Congress placed on the U.S. government’s ability to borrow — the debt numbers hit an already tenuous economy facing high inflation, rising interest rates and a strong U.S. dollar.

And while President Joe Biden has touted his administration's deficit reduction efforts this year and recently signed the so-called Inflation Reduction Act, which attempts to tame 40-year high price increases caused by a variety of economic factors, economists say the latest debt numbers are a cause for concern.

New Research Points To Health Benefits Of Eating Earlier In The Day And Within A 10-Hour Window

New research suggests there may be an ideal window of time to eat during the day.

Eating relatively early may be beneficial for weight loss, and keeping meals within a 10-hour period could improve blood sugar and cholesterol levels, according to two small studies published Tuesday in the journal Cell Metabolism.

The two studies add to existing evidence that there may be optimal times to start and stop eating, according to Courtney Peterson, an associate professor of nutrition sciences at the University of Alabama at Birmingham who wasn’t involved in either study.

Wisconsin Headlines

Conservative Wisconsin Taxpayer Group Sues Over Biden's Student Loan Forgiveness Plan

A fiscally conservative Wisconsin-based association of taxpayers is the latest group to sue over the Biden administration's student debt relief plan. 

The Brown County Taxpayers Association filed its lawsuit Tuesday in the U.S. District Court for the Eastern District of Wisconsin, arguing the debt forgiveness plan violates the U.S. Constitution.

The group, which is being represented by the conservative Wisconsin Institute for Law and Liberty, is asking a federal judge to grant a preliminary injunction that would stop debt cancelation. It's also requested a temporary restraining order, which would halt the debt forgiveness program in the meantime before the court decides on the injunction.

Republicans Gain Ground In Senate Races In Pennsylvania And Wisconsin

After a grueling summer, Republicans are finally making headway in protecting their top two firewalls in the race for the Senate.

Holding onto at least one of the GOP-held seats in Wisconsin and Pennsylvania — ideally both — is critical if the party wants to flip the Senate. But Wisconsin Republican Sen. Ron Johnson and Pennsylvania Republican Senate nominee Mehmet Oz began the general election with poor favorability ratings and a spending disadvantage on TV.

By contrast, the Democratic candidates, Wisconsin Lt. Gov. Mandela Barnes and Pennsylvania Lt. Gov. John Fetterman, had a great summer: Barnes’ top opponents in the Democratic primary all dropped out and endorsed him, giving him a head start on bringing the party together for the fall. Fetterman won glowing headlines for trolling Oz as an out-of-touch carpetbagger. Both men were leading in polls.

Wisconsin Democrats Put Abortion In Spotlight For 2022 Vote

Wisconsin's Republican-controlled Legislature took mere seconds on Oct. 4 to reject Democratic Gov. Tony Evers' call to create a way for voters to get a chance to repeal the state's 1849 abortion ban, even as Republican U.S. Sen. Ron Johnson voiced support for letting the people decide the issue.

The move by Evers is the latest by Democrats in the battleground state to turn the Nov. 8 election into a referendum on abortion. But Evers' opponent Tim Michels, Johnson and other Republicans are focusing instead on crime and public safety in arguing that Democrats have failed to keep the state safe.

Jury Seated In Darrell Brooks Trial; Opening Statements Begin Thursday

A jury has been seated in the trial for Darrell Brooks, the man accused of killing six people and injuring dozens more in the Waukesha Christmas parade.

Opening statements in the trial will begin Thursday at 8:30 a.m. TMJ4 will live stream the trial gavel-to-gavel.

10 male jurors and 6 female jurors were selected. All of the jurors are white.

The more than 10-hour day, nearly identical to Monday with numerous disruptions from Brooks, leading to his removal from the courtroom to another room on multiple occasions.

Wisconsin DOJ Recognizes Domestic Violence Awareness Month

In recognition of October being Domestic Violence Awareness month, Wisconsin Department of Justice (DOJ) today reminds Wisconsinites that domestic violence is an issue that affects communities across Wisconsin and of the resources available to victims of domestic violence. Wisconsin DOJ assists victims of domestic violence through a variety of programs and grants, including Safe At Home - Wisconsin’s address confidentiality program, the Violence Against Women Act (VAWA) STOP Program, and the Missing & Murdered Indigenous Women (MMIW) Taskforce.