>>McCarthy: Repubs, Dems At Odds Over Cuts (Washington, DC) -- House Speaker Kevin McCarthy claims Democrats are out-of-step with ordinary Americans as the debt-ceiling talks roll on. Speaking on Capitol Hill today, the California Republican said polls show most Americans want the federal government to curb spending, but he adds the parties are still deadlocked on exactly what to cut. McCarthy said progress is being made, but a major sticking point is over work requirements for social benefits programs. The Republicans want the requirements, while the Democrats oppose the increased work demands for the benefits. Most experts say a deal must be struck within a week to avoid the U.S. defaulting on its debt obligations.
>>Consumer Sentiment Falls In May
(Ann Arbor, MI) -- Consumer sentiment slid this month on worries about the economy and the debt ceiling crisis. The University of Michigan's final reading for May fell seven percent from last month. The survey noted the index erased half the gains achieved since its all-time historic low last June. The year-ahead economic outlook plunged 17 percent from April.
>>Consumer Spending Increases In April
(Washington, DC) -- Consumer spending is up more than expected. New government numbers released Friday showed consumer spending went up point-eight-percent in April, double what was expected by analysts. It was the biggest jump in consumer spending in three months. Purchases of new cars helped boost spending last month despite higher interest rates. Meanwhile, personal income went up by point-four-percent in April.
>>Rating Agency Puts US Credit On Negative Watch
(Washington, DC) -- A major credit rating agency is putting America's credit rating on a negative watch as lawmakers struggle to reach a deal to raise the debt ceiling. Fitch Ratings said America's Triple-A rating is at risk of a potential downgrade if the White House and Republicans fail to reach a deal to raise the borrowing limit. The move comes just over a week before June when officials say the U.S. may no longer be able to meet its payment obligations. The White House said the formal notice reinforces the need for Congress to quickly pass a reasonable, bipartisan agreement and avoid default. Negotiations between the two sides are ongoing.
>>Gallup: More Americans Pessimistic About Retirement
(Washington, DC) -- More and more Americans are pessimistic about retirement. A Gallup poll finds 43 percent of those who have yet to retire expect they'll live comfortably when they do retire. That's down from 48 percent last year and the lowest in over a decade. Optimism about retirement had hit a high of 57-percent just before the COVID pandemic in 2019.
>>MoviePass Relaunches With Different Tiers
(New York, NY) -- A subscription service that lets film fans see up to 30 movies in theaters each month is relaunching. MoviePass is back under new ownership after going bankrupt in 2020. It will have a new pricing model this time around, with plans starting at 10-bucks per month to see one to three movies and going up to 40-dollars a month to see up to 30 movies. MoviePass says subscribers will be able to see movies at any theater that accepts MasterCard. The service's website lists over four-thousand participating locations around the country.
>>Ford EV Customers Get Access To Tesla Superchargers
(Dearborn, MI) -- Starting next year, Ford electric vehicle customers will have access to 12-thousand Tesla superchargers in North America. Ford president and CEO Jim Farley says they will provide an adapter for Ford F-150, Mustang Mach-E, and E-Transit vehicles and switch to the same adapter used by Tesla in 2025. Ford's BlueOval Charge Network is the largest in North America with over 84-thousand chargers and ten-thousand public DC fast-chargers.
