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The nest isn’t so empty: Affordability crunch has 49% of young adults living with parents
WASHINGTON D.C. — Nearly half of young adults lived with a parent last year, illustrating the struggles of a generation trying to gain a financial foothold.
A report from the Federal Reserve in May showed 49% of adults under age 30 lived with a parent, up 12 percentage points since 2019.
“Everything is just out of reach,” a 28-year-old woman who lives with her mother in the Atlanta suburbs told The Wall Street Journal.
That woman said a young adult could live on their own if they wanted, but they’d be “dead broke at the end of the month.”
Another young woman told the Journal that the COVID-19 pandemic “flipped the script” on young adults moving back in with their parents. Click here to read more.
Michigan Business Development Program’s deals are plentiful; its results are not
The workhorse of the state’s business subsidy programs is not the one that gives out deals for hundreds of millions of dollars. Instead, it’s the program where assistance is limited to $10 million payouts, the Michigan Business Development Program. This program has made 875 deals since it began in 2012. But while it makes a lot of deals, it also falls short. It’s just not an effective use of taxpayer money.
One of the basic problems is that it gives taxpayer money to companies and doesn’t ask for anything in return. All businesses that have a project where they expect to create enough jobs — 25 to 50 of them — are eligible, regardless of whether they would do anything differently without money. The only nod to accomplishing anything is that preference may be given to businesses “that need additional assistance for deal-closing and for second stage company gap financing.” Click here to read more.
w">Trump announces Walmart to lower prices for thousands of products at his administration’s request
resident Donald Trump said Monday that Walmart has confirmed it will be lowering its prices for thousands of products this summer at his administration’s request in celebration of the United States’ 250th birthday.
Walmart said it will be lowering prices through its signature Rollbacks and Sam’s Club programs, and customers can expect savings on groceries, household and everyday essentials, outdoor living, toys and apparel.
Trump noted that one grocery price that the savings include is a reduction in the cost of beef, which he said will be lowered by almost 15% per pound. Walmart said a pound of beef will now cost $5.94 instead of $6.74. Click here to read more.
Joy Reid Guest Rooting for Team USA to Lose So Victory Won’t be ‘Exploited’ by Trump
If you feel like you might not dislike the left enough, keep reading.
On July 1, the same day that U.S. soccer star Folarin Balogun was hit with a red card in the U.S. Men’s National Team (USMNT) 2-0 victory over Bosnia and Herzegovina, former MSNBC host Joy Reid welcomed Dave Zirin, sports editor for The Nation, onto her podcast.
During the interview, Zirin made it clear that he was not rooting for America and wanted to see the U.S. “knocked down a peg,” at least in part, for fear of its victories being “exploited” by President Trump.
“I find myself really wishing the United States was actually playing a team from the Global South so I could truly root with even more fervor to see them get knocked down a peg, because we know how it’s going to be exploited if they go forward in the Cup,” Zirin said. “Let’s just be real about that.” Click here to read more.
America learned long ago that air-conditioning saves lives. Why does Europe remain so stubborn about it?
During his inaugural speech on Jan. 1, Mayor Zohran Mamdani declared, “We will replace the frigidity of rugged individualism with the warmth of collectivism.”
It certainly feels warm these days.
As temperatures climbed during the heat wave that blanketed much of the eastern United States, the mayor took to social media with a familiar message from the government. “New York: it’s hot out there, and the power grid is working overtime to keep us cool,” he tweeted. “Set your AC to 78 degrees, turn off lights/electronics you’re not using, and unplug what you can.”
This is the real face of the political left: Individual comfort and convenience should be subordinated to collective priorities, with government officials deciding how much energy ordinary people ought to consume. Click here to read more.
