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The uncertain returns from AI is not good for retirees whose funds are invested in AI funded by corporate bonds. With enormous needs for capital how about $3 trillion for Ai investment to 2028 , says WSJ, only $1.5 trillion can come from cash flows and $1.5 trillion has to come from elsewhere such as corporate bonds and annuities retirees purchase. This lowers credit ratings of these instruments as AI returns are uncertain. This is not a good situation for retirees in the US.

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China's export dependent economy with 4% decline in fixed investment Jan-May 2026 and 27% jump in exports.1 million car exports per month in June. Exports make up 20% of China's GDP. China is challenging German companies in their home markets in Europe. Domestic sales of cars are down 16% in June. What this means is that China's growth now depends on exports alone, with construction slowdown, and weak consumer spending. How does this tie into China's posture in trade with the US? It negotiated from a position of strength on rare earths not to give in to DJT tariffs yet knows the importance of trade for the Chinese economic model, importance of US and EU markets, markets worldwide. China's strategy is to shift some of the lost US sales due to tariffs to other countries in Latin America and Asia. A top priority is to keep trade with the US and European Union on a good footing, so that its exports can be absorbed. How does it affect Hormuz? For China Hormuz as an oil source is much lower in importance and China can do without Iran, it absolutely cannot do without the US and European Union to take a big part of its exports. It also does not openly say this but it also shares concerns similar to the US, on nuclear weapons in Iran. India, Japan and the EU have similar concerns. As shown in the articles on this page China has large unused oil in reserves and coal supplies, has lower oil demand at 4% growth, and is accelerating renewable energy, so that it is now importing 8.5 million barrels a day down from 12.5 million barrels a day. By doing this China puts this oil back into the world supply leading to lower oil prices. This means the world can do without the supplies from Hormuz, keep lower oil prices, and go on as before if Hormuz remains closed. The US can focus on domestic issues and its involvement in the Middle East can be limited to naval blockade which the US Navy is capable of doing. This is good for China, good for the US, and good for the World. Local governments in China, provincial authorites, pushed growth in building road, bridges, factories during the 30 year growth phase 1990-2020. In 2026 local governments with debt loads and lack of good projects for investment are a bottleneck to growth. This is the first time fixed investment is in decline, except for the years in 1961 and in 1967. The year 1961 is a result of many mistakes made by chairman of CCP, Mao, by shifting 2 million in farm labour to work in iron foundries, and the shift from private farm plots to soviet style commune farms, coupled with floods leading to 43-46 million famine deaths (1994, Chen Yizi, top advisor to CCP General Secretary Zhao Zhiyang). 1967 is the chaotic situation of the Great Proletarian Cultural Revolution launched by Mao. What it shows is that the China Miracle like the Japan Miracle and the German Miracle of recovery after World War II, is based on certain conditions and will enter a phase of lower growth closer to 3% like other industrialized nations over time. India and Indonesia are larger than China and will be the next growth story, which is also shown on these pages this week, with the address to the Indonesian parliament by Modi, and Indonesian president Prabovo's saying that he has studied Modi's economic changes and is copying them as there is no copyright. ...

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See pictures and video of the 150h anniversary celebrations in the US for the 250th anniversary of the Declaration of Independence. The Declaration has the immortal words of Jefferson- "We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness. That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed,—That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security." Not just Washington DC and many places in the US, but also the Brandenburg Gate in Berlin and across Europe and Asia, Latin America the Declaration has created the Modern World and the Democracies that we know today. The list is long from Germany and Japan that adopted these ideas to India and many nations of Asia, many nations in Africa and Latin America, all inspired by Thomas Jefferson's words. As Jefferson himself borrowed from the European writers of the Enlightenment this means it is a European experiment also, and in Asia an Indian, Japanese experiment also- futuristic in every way, daring and bold, and with the People in mind all the way. Every generation bearing a special responsibility to its children the next generation so that these values can continue to serve as a blessing to mankind. People tend to criticize the founders for aspirational views yet it should be remembered that in all of Asia, billions of people saw a lot to learn and a lot to gain from these aspirational views as they built the Modern World in the 1950's across Asia on these principles and ideas. This is also true of Latin America and Africa. The men on Mount Rushmore were truly unique, Washington, Jefferson, Lincoln and Roosevelt, and it is our task to continue the work they gave most of their life for. ...

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The fast food industry in US relies on the franchise model which has been deeply affected by depressed wages, poor working conditions and other worker abuses. Governor Gavin Newsom signs into law on Labor Day 2022, the FAST Recovery Act which established a state council tasked with setting wage standards for the entire franchise and food industry. Workers will now get a seat at the table to set standards for wages, and health and safety standards for the industry. Wages will be set at $22 per hour starting next year for about half a million workers in the franchise and fast food industry in California.

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Real Madrid in Champions League 2026 with loss to Bayern in semi-finals. Real Madrid had coach  Alonso last for 7 months, next Arbeola 5 months in 2026 season.

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Ford Motor Company makes a huge decision to exit the sedan business by discontinuing the Ford Focus and Fusion sedan car lines. The decision was made under CEO Hackett, and CFO Shanks, and means that Ford will have no fuel efficient car lines to offer to customers. During the recovery after 2008 and the bankruptcy of Chrysler and GM fuel efficient cars were one way the auto industry in Detroit was able to come back. Ford still depended heavily on the F series truck for profits as the market improved. With the current  popularity of SUV's the U.S. automakers are once again shifting to SUV's which does not protect the American automakers in competition with Japanese automakers if the demand partly shifts back again to sedans. Toyota has retained the Corolla and Camry and continues to upgrade its sedan models offering a broader product line better able to handle shifts in consumer demand that have in the past created problems for Ford and Chrysler. Chrysler has shifted away from sedans since 2016. Mr. Hackett is a former CEO of Michigan based office furniture maker Steelcase, and it is not clear if the lessons learned over the last decade at Ford Motor in competition with the Japanese resonate under a CEO with a different background such as that of its current CEO. ...

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Report from Smart Ageing Summit at Oxford 2026. It rejects the notion common in society that physical decline is inevitable with age. It puts the responsibility of good health on healthy living which means about 80% of the responsibility is on each one of us to maintain good health. Things that are important says this report are completely abstain from alcohol, avoid processed foods (what RFK Jr is telling us as Health Secretary), prioritize sleep, cultivating a "not-meat" mindset, not eating after 6.30 pm. Other studies such as the Oxford Population Health with half a million UK participants show environmental exposures and healthy living habits have far greater importance than biological ageing and inherited genetics. Which also supports this conclusion that it is upto each one of us to build a better quality of life as we age. We assume here that the society we live in is healthy and there are no natural disasters such as climate change or human made disasters such as wars and conflicts, human exacerbation disasters such as not investing in healthcare, education and infrastructure for good public services such as transportation, parks and recreation. Yet that cannot be taken for granted and it is also important for our own healthy living and our spiritual health to invest some of our time and put our money into making sure that this investment takes place in building a healthy society and environment to live in. We do this in our civic life, as parents at parent teacher meetings, as custodians of the environment, being active in our neighborhoods, in business practices, and in supporting and monitoring investments in education and healthcare for our communities. ...

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George Washington shown in the early parts of the Seven Years War (1756-1763) that drove the French from Quebec and North America. In these early battles Washington fought in the Pennsylvania country near Pittsburgh under the British commanders against the Indians and the French. This taught George Washington many things about a war in America's vast forests, the risks and dangers, the best way to keep on fighting a long war in which the British would eventually fail to prevail. After defeat on 2 nights on frozen ice on a lake fleeing French and Indian forces Washington survives, and grasps the idea of divine providence in the struggle against colonial powers France and then Britain. This prepared Washington for a different strategy in the war against the British, learning from the defeats of the British by Indians in forest conditions with quick offense and quick retreats and no large engagements. The entire war was characterized by this quick offense, strategic retreats, and preserving the American army's strengths, as an approach to conduct the fight. Montgomery tried a direct march on Quebec and failed in the early days of the war of independence against British forces. This also reinforced Washington's strategic approach that the British would only lose in a long drawn out war under certain conditions, to avoid direct engagement with large armies or decisive battles till the right moment. Washington enlisted a young French officer Lafayette as a commander in his army knowing the importance of the French to neutralize the British naval power on the seas. When this stage was reached Washington could quickly move his army north to surprise the British by surrounding their forces under Lord Cornwallis resting at Yorktown, Virginia after being harassed in small engagements by American forces in the South. For that to happen Washington had the logistics feat to accomplish of moving cannon and forces up rivers and forests to the north, something practiced in the Pennsylvania region in the fight against the French and their Indian allies. The early part of the war the engagement with the French and Indians was formative for Washington and is the experience that is covered in the book "Young Washington," now made into a movie. The night spent on the frozen river in Pennsylvania country fleeing the Indians and French and surviving was always for Washington an act of divine protection. It may be also the reason why Washington saw his role not as his own but for a larger purpose, leading to handing over his appointment as commander in chief back to Congress in Annapolis in 1783 after the war had ended and peace treaty was signed. We refer to this as a defining moment in The First Letter from the Editor for Lyrarc.com, reflecting on divine protection and the responsibility that goes with it for the Nation that should never be forgotten. ...

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Iran wants to suspend the Oman US route in Hormuz channel to control navigation- the US wants to keep it open for open seas navigation July 7 2026. 30-50 ships make it through Hormuz. US revokes Iran's oil shipment out of Hormuz as a result, and makes strikes on Iranian  missile launching facilities used to disrupt open seas navigation on the Omani side protected by the US. US tries to set back channels to IRGC military that controls Iran, but IRGC does not carry out regular ongoing talks, talking only at the pressure of the president of Iran working with Pakistan, Turkey and Qatar to convince IRGC authorites. China has reduced its need for the barrels coming out of Hormuz, may not go back to getting Hormuz barrels. UAE has found alternative routes to ship and increased supplies, Saudis doing the same. India and Japan looking for alternative sources of oil including US and Venezuelan supplies. Most of the buyers of Hormuz oil reluctant to go back to getting Hormuz barrels. In this sense the situation has changed, from when the war began. Oil prices could rise from $70 to $76 , and a bit more, but the old situation of Iran threatening oil supplies of the poorer developing countries of the world including China, India, Indonesia, Philippines, Sri Lanka, most of Asia and Latin America, African countries, countries that cannot afford oil prices of $100 is something the world does not need. And the tide is shifting to alternative supplies, conservation that adds enough barrels of oil as China and India, Japan, Germany, are doing, and the US also to some extent. By 2027 alternative supplies will have increased to pull the world out of this place called Hormuz, to where it becomes an insignificant source of unreliable supplies. ...

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David Rubenstein's Interview of Heather Cox Richardson about the Revolutionary War after 1776 and the Civil War under Lincoln, and about American democracy in 2026, as a podcaster and a newsletter for Substack. She reaches a large audience in the northeastern, states and is based at Boston College where she is professor of American history. She says here most historians do not agree about history, and this shows as she has a unique interpretation of history. A reading of Abraham Lincoln's letters and speeches from the books published by Library of America shows a different Lincoln. Heather Richardson says Lincoln was hesitant about slavery and moved to abolition only as political situations required action. Our own reading at Lyrarc.com shows Lincoln in his debates with Douglas taking on the role of stewardship of the Nation Jefferson and Washington helped create with the Declaration of Independence, and Washington's conduct of the war (as a war of attrition that would be finally won with divine providence in the form of the aid from the French naval and military power.) His heart was with the Nation following the British example and abolishing slavery (as Britain had done under Witherspoon's leadership in parliament in 1807), and he was the principal proponent of that vision. All over Europe, from France to Britain the emancipation of man from feudalism, from slaveholding or holding people tied to the land was on the way out, and Lincoln believed that this direction was established and it was God's will expressed through his skills in debating the issues for the Nation to bring these ideas already established in Europe to the American continent. Nowhere, not even in one sentence unless taken out of context do we find Lincoln moving from his firm view, using every skill he had to push his vision forward to transform America step by step, almost as if God's own hand was guiding him in this task all the way. One has only to understand the mood of Britain to know that Lincoln knew in his heart that he would prevail. In 1772 Lord Mansfield in the Somerset vs Stewart case declared that chattel slavery had no basis under English Common law. In 1807 the British parliament abolished slavery. And in 1834 the Abolition of Slavery Act abolished slavery in the whole British Empire. By 1800 with the French Revolutionary Wars the mood was all over Europe for emancipation from feudalism, from slavery, for freedom. Lincoln was himself an expression of the mood of the time coming from a log cabin in Kentucky with little schooling and believing in the best British values in a new frontier country including its system of common law and freedoms guaranteed by an unwritten constitution. In 2026 there are views that show an hesitant ambivalent interpretation of America's resolve under Washington, Jefferson, and Lincoln, in the fight for freedom of all people by projecting the founders into the current situation. Living in their time they fought the hardest to change what they saw, no less than William Wilberforce in the British parliament for the freedom of man in 1807. Britain's parliament abolished slavery in 1807 by 283 votes to 16 to standing ovation and an emotional parliament. Wilberforce said at the time-"God Almighty has set before me two great objects, the suppression of the slave trade and the reformation of manners." Lincoln was no less a force for good under God Almighty on the American continent than Wilberforce was in Britain. Carl Sandburg's biography of Lincoln shows this on every page. ...

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UK Reform Party has taken large donations from cryptocurrency companies. Reform leader Nigel Farage has received a 5 million pound gift from a cryptocurrency firm. What does this mean for cryptocurrency regulation in the UK as a world financial center, if Reform wins a general election and appoints the next Governor of the Bank of England when Andrew Bailey retires in 2028. This is discussed in The Guardian. The banking system of the US, UK and large countries was set up over many years and currency is only issued by a central bank with the financial backing of the nation. Cryptocurrency cannot on the basis of technology take that role without posing risks and destabilizing the financial system. The gradual splitting of society by the information economy, neglect of infrastructure, pharmaceutical pricing, banking speculation as in 2009 crisis, have been eroding some of the basic structures of democracy for the last two decades from within.  The wars in the Middle East policies, and the open borders migration policies, were effects from outside. What this has led to is counter to what one would expect. To fight open borders and the marginalization of some parts of the working class DJT Republicans have used whatever resources were available at the time in the 2024 presidential election. The cryptocurrency firms used this in opportunistic fashion to affect regulation of this currency by supporting the reelection bid of DJT in 2024 by making large donations. This has led to less regulation of cryptocurrency firms. Is this in the best interests of the Nation? Will this destabilize the banking system in ways that have happened before in the deregulation of banks before the 2009 financial crisis? In Britain a new Bank of England governor will be appointed after Andrew Bailey's term expires in 2028. Reform party in UK if elected as government would appoint the next Governor of the Bank of England. Reform's growing popularity is a result of Conservatives and Labour failing to take action on open borders, asylum hotels, and migration policy, following an ECHR code of rights that is inappropriate to such migration. What this means is that unexpected things happen as a result. Cyrptocurrency risks of destabilizing the banking system increase as a result of failure of parties on migration. This could be more destabilizing for Britain because of its role as a financial centre than the industrialized  economies such as Germany, China, and industrializing economies such as India. It poses risks in the US yet Federal Reserve Governor Walsh can exercise his own judgement about cryptocurrency and Congress can exercise oversight, the large banks can act to show the risks of destabilizing that cryptocurrency can pose. For Britain it is particularly dangerous as the US is also an industrialized power compared to Britain's focus on finance alone. Andrew Bailey can ignore lobbying by Reform Party in 2026 (Farage met with the Governor of the Bank of England), yet what happens if Reform appoints the next Governor in 2028? These are questions Britain needs to ponder. It is also why Andy Burnham is Britain's last chance to get things right on migration to the point that the British people feel good and proud of their heritage and history, British neighborhoods across the country feel safe and secure, and Britain shifts to reindustrialize its economy with partners in China and India, the European Union, and the US. A former Deputy Governor of the Bank of England, Sir Charlie Bean told the BBC about donations of Christopher Harbonne, who has a 13% ownership interest in cryptocurrency firm,Tether. "Stablecoins are only stable if they have the appropriate regulatory environment… But there is right now an unsurprising regulatory race to the bottom amid the potential for greater profits." He added: "When funds are coming from major shareholders of such large financial institutions, there is a clear potential conflict of interest here, for example, in the appointment of a new Bank of England governor. Transparency is one solution." ...

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Bill Ford answers some very pertinent and good questions with confidence and clarity in a meeting with Maria Bartiromo of CNBC and Business Week. His answers are direct and show his thinking today and throughout his difficult experience of the last few years struggling to establish his presence at Ford Motor and then struggling to get the right person to run the company. "It hurts us to see the employees of the company suffer," and this has made this experience at Ford have a personal impact as Ford traumatized over the layoffs of employees with many years of service. And he himself was not easily accepted in the prevailing culture of the time at Ford, and asked to drop his contacts with environmentalists when he joined the Board, which he says he told them he had no intention of doing. He knows his managers had foresight in borrowing a "ton of money" just before the credit crisis struck, and which will be a key to going through any further deterioration of the market in the next 2-3 years. Much clearer than any of the other manufacturers is Ford's new vision under, Bill Ford, Mullaly and Farley, with the finance guys in the background, of Ford as a car company and focused on smaller fuel efficient automobiles. And Bill Ford's vision and aspiration has a lot do with it, who he helped bring in and what he supported and pushed for in the old Ford culture helped Ford to grasp a vision of its future with clarity and purpose like a new beginning. Ford will continue to make trucks but it believes as Bill Ford does that the market will never go back to its old ways, that the absolute price of oil will have less to do with it than the psychology which will push for smaller more fuel efficient cars. And as he points out its European cars are" extremely well appointed and very, very succesful and extremely profitable"....

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Vice President Vance's attempted thaw in relations with Iran (the Memorandum) and the Iranian response in missile strikes to interrupt open navigation in Hormuz on Omani side route breaking ceasefire happens on July 8, 2026. Early on in the US strikes the focus was on Iranian underground nuclear sites with preparations for nuclear weapons. When Iran shut down the Hormuz channel to navigation the US extended this to a naval blockade. As the US bombing of military targets in Iran continued in May and June the WSJ and other media were critical of the US. DJT turned to JD Vance to get the Iranians to negotiate a ceasfire with a Memorandum of points they agreed to included a plan to have talks on nuclear issue, open up the Hormuz channel, lift American naval blockade and American sanctions to Iranian oil exports. This WSJ Editorial Board commentary says Iran has not acted on as it said it would - no talks on nuclear issue are started, and Iran launched missiles against shipping in Hormuz.  This WSJ editorial says Iran does not intend to open Hormuz or discontinue its nuclear weapons efforts. In this situation the only options for the US are to find alternative sources for oil for India and Japan, and China in tacit cooperation with the US to find alternative sources as well as make more efficient use of oil. China is now doing without the 4 million barrels it was getting from Hormuz and has decided to do without these supplies altogether. For the UAE and Saudis to find alternative routes to get most of the oil out, UAE to increase output outside of OPEC to reduce prices. All of these actions are taking place and the ceasefire offered a breather for that to get established creating a new situation where if Hormuz remains unopened the rest of the world will be able to go on as before without being seriously affected. Better management of overall oil supplies is already taking place, inventories are building up, so that at some point Hormuz does not affect oil prices significantly. This is the best and most realistic option and the US, China, India, Japan, the EU, are going ahead with it. ...

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The US House of Representatives led by Speaker Kevin McCarthy passes a debt ceiling bill with a close vote on largely party lines 217 to 215 votes. The bill raises the debt ceiling in exchange for spending cuts of 14%. President Biden cited Moody's analysis showing a loss of 780,000 jobs with such large spending cuts. The bill has no chance of approval in a Democrat led Senate.

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In France 67% of young people 15-17 years in a Acadomia survey support ban on under 15 years children for social media. A bill is being introduced in French parliament to restrict children under 15 year from social media platforms supported by the governing party. A French parliamentary inquiry into “the psychological effects of TikTok on minors”, was set up in Spring 2025, and the results have set off an alarm about the negative effects on children. The new law would apply to children in high school lycee 15 years to 18 years, as it is already in place for children 11-15 years in college French middle school. The bill will be debated in parliament on Jan 19, 2026 and has support of EPR Ensemble Macron's party and of 121 members of parliament. It also restricts use from 10 pm to 8am to support better sleep patterns for young people and for studies.

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Guardian editorial on Blair Essay 2026- it is from 1999,  and it won't work in 2026 as problems are different now.

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One Big Beautiful Act passed in US Senate with Vance casting tie breaking vote. It renews the tax cuts from DJT's first term in office in 2017 and provides tax cuts to seniors, middle class, and small business. It provides 100% expensing for business to increase investment. Mothers get child care credit that is doubled, senior citizens over 65 years get a $6000 deduction. The seniors deduction means 88% of seniors will now pay no taxes on social security benefits from 64%. Medicaid changes so that able bodied Americans will have to put in 80 hours of work to qualify.  Note that the Medicaid program was becoming unworkable and unsustainable- starting with the idea of helping people unable to work and transitioning those who could work, it jumped to $228 billion cost in 2000 from $28 billion in 1980, ten times over 20 years. Going up to $918 billion in 2024, 4 times the 2000 level. Medicaid is now 62% of what Social Security costs, $918 billion compared to $1480 billion for Social Security. ...

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India's wheat output in 2023 looks to supplement output in Argentina, Canada, Russia and other countries to makeup for a shortfall in Ukraine's production. This will lead to lower prices and ease food shortages in other parts of the world.

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H1-B Visas and the Three Hundred Thousand Indian Engineers, the 3 million they would have trained locally in India to 2030, are a huge loss to India and India's dream of rapid modernization. The 3.3 million engineers in the 51 states of the Union to 2030, born in the USA, will also be lost to America's dream of re-modernization. It hurts the dreams of both nations for modernization of infrastructure and economic growth. 

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On the hope for the world that can be created through the example of the 1.4 billion people of India combined with the 290 million people of Indonesia PM Modi told the Indonesian parliament-"On this great soil of Indonesia, I come before you with confidence in our shared journey of development. I come with the conviction that, together, India and Indonesia can inspire humanity with renewed hope, purpose, and energy. When the 1.4 billion people of India and the 290 million people of Indonesia move forward together with shared purpose and collective effort, the world will witness the making of a new chapter in history. India is a nation that believes not in expansionism, but in development. That is why we are guided by the principle: Sabka Saath, Sabka Vikas—Together with all, development for all." On the civilizational dialogue between India and Indonesia PM Modi said- "India, Indonesia, and the Indian Ocean – these very names bear witness to the deep and enduring bonds between our two nations. For thousands of years, our ports connected the world, and our ships carried trade, culture, and ideas across distant shores. The seas continue to hold immense opportunities for our shared future. It is with the vastness of this ocean as our inspiration that I invite you today to take India–Indonesia relations to even greater heights." "Honourable Members, India and Indonesia share far more than the sea—we share a common history. Our relationship is rooted in the timeless legacy of the Ramayana and the Mahabharata. In the wisdom of Nalanda that reached these shores centuries ago. In the traditions of Wayang, dance and music. We are connected through magnificent monuments such as Borobudur and Prambanan. We are united by Garuda, the national emblem of Indonesia." On the struggle for independence and shared history- "Friends, there is so much that our ancestors experienced together. Both our peoples endured long periods of foreign rule. Our two nations also attained independence at nearly the same time-Indonesia in 1945, and India in 1947. And when the question of Indonesia’s sovereignty as an independent nation arose, India stood firmly in support of Indonesia’s freedom struggle and became a strong voice for its cause at the United Nations. During that defining period, the role played by the respected Biju Patnaik remains a shining chapter in our shared history. The courage and determination with which he safely brought Prime Minister Sutan Sjahrir and Vice President Mohammad Hatta to India forged an even deeper bond between our two nations."   ...

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Theresa May  faces a mutiny in her Conservative Party with the resignation of ally Ms. Leadsom, the leader in the House of Commons. Her repeated efforts to put her unpopular Brexit deals for a vote in parliament, with one planned on June 7 2019, is rejected by the Conservative Party. This sets the stage for another controversial election to leadership of the Conservative Party of Mr. Boris Johnson, who leads in party member support.

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For 51 million seniors over 65 years the $4000 added deduction in the Big Beautiful Bill 2025 would take the standard deduction for married to $40,000 a year in 2025 and $41,100 in 2026.This is in lieu of eliminating the tax on social security benefits entirely which was originally considered but could not be done under the budget reconciliation rules used to pass this DJT budget. For married taxpayers it is phased out after reaching $250,000 of income. What does $4000 provision over 65 years cost? It costs $66 billion over 3 years, and needs renewal in 2028. Eliminating taxes on social security benefits entirely would cost $1.4 trillion over 10 years or over 3 years $420 billion with a lot of it going to income earners with income over $100,000 or $150,000. It makes sense that this was avoided, and the political appeal being still in place for an ideal situation where when it comes to social security where middle class incomes of $200,000 are not taxed-as consider that it costs that much to just have a middle class life in these costly times.  ...

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Memorial Service for Charlie Kirk at St Joseph's Church near Capitol Hill Washington DC, September 12 2025.