News Round-Up: August 12, 2019

Some news items you might have missed:

• InstaHunks: While I'm working at my desk all day, I take a few seconds to check in with Alex Abramov and Brett Miles (above) whose Fire Island weekend hasn't come to an end yet. How nice for them :)

• Billboard: Out rapper Lil Nas X continues his reign atop the Billboard Hot 100 as his "Old Town Road" notches its 19th week as number one.

• OUT: In 2015, there were 1,400 reported cases of Hepatitis A in the U.S. Over the past three years, the number has spiked to 23,000. Since type A can be transmitted via anal sex, the CDC recommends gay and bisexual men get vaccinated against the disease. Click here to find the nearest pharmacy or clinic that offers Hepatitis A vaccinations. If you've had it, you have built-in immunity now.

• Business Insider: A new study shows that as New York City raised the minimum wage to $15 this year from $7.25, its restaurant industry outperformed the rest of the US in job growth and expansion. Researchers found no negative employment effects due to the city increasing its minimum wage.

• Axios: The federal budget deficit is up 27% from the same period last fiscal year, which begins in October. Spending has continued to outpace revenue, with a 3% rise of revenue overshadowed by an 8% jump in spending. Remember how the Trump tax cuts were going to pay for themselves?

• HBO: In this parody of FX's POSE ball sequences, Bob the Drag Queen channels his version of Billy Porter's 'Pray Tell' as host of "The Basic Ball."

Instead of the kids showing off fabulousness, the categories here are “clinical depression,” “barbecue daddies,” and “running errands,” with competitors giving you neutral colors and family reunion t-shirts.

No 'extra' here, folks. It's all down to 'basic.' Watch below or on YouTube here.

News Round-Up: September 12, 2018

Rodiney Santiago (via Instagram)

Some news items you might have missed:

• InstaHunk Rodiney Santiago can't stop gushing about his awesome vacay in Mykonos. Funny, I can't stop gushing about Rodiney... :)

• Hottie Olympic skier Gus Kenworthy recently told US Magazine that he believes Colton Haynes may be reconciling with his ex, Jeff Leatham.

• Tadd Fujikawa has become the first male professional golfer to come out as gay.

• Viola Davis recently told the New York Times she has some regrets about making the film, The Help, as the story ended up being more about the white characters' perspective on racism than those of the black characters.

• According to the Congressional Budget Office, the federal budget deficit was $895 billion for the first 11 months of fiscal year 2018, $222 billion more than the shortfall recorded during the same period last year. #SoMuchWinning

• Chris Pine is amused by folks reaction to his full-frontal scene in the new film, Outlaw King:

“What I find very funny is that there’s so much beheading in this, and yet people want to talk about my penis,” Pine told the The Hollywood Reporter. “And I think that says something about our society, where people can get disemboweled, but it’s the man’s junk that is of interest.”

News Round-Up: November 2, 2015

Boxer Yusaf Mack comes out as bisexual

Some news stories you may have missed:

• Did you hear the one about the straight pro-boxer who swears he must have been drugged because he doesn't remember starring in a gay porn? Never mind that he doesn't address this other gay porn he starred in.

• Sen. Ted Cruz and Ben Carson climb in a new Iowa poll as Donald Trump loses ground.

• Have I mentioned my latest theatrical adventure?

• Did you know big pharmaceutical companies can PAY generic drug makers to delay making those meds available to us, costing Americans $3.5 billion a year?

• Alleged Philly gay-basher Kathryn Knott heads to trial December 9th to defend herself for her part in an attack that left a man with a shattered jaw needing to be wired shut for months.

• "Pawn Star" reality celeb Rick Harrison bemoans the fact that he loses business for supporting anti-LGBT politicians.

• Despite all the moans from Republicans/conservatives, the U.S. deficit just hit a seven year low. #ThanksObama

• Sen. Marco Rubio surges to 3rd in New Hampshire poll after debate performance.

Annual Deficit Cut By Nearly Three-Fourths During Obama Administration

Click pic to enlarge

No one's talking about this much, with all the conservative hand wringing about deficits and national debt, but the fact is the U.S. budget deficit has fallen to an 8 year low.

That's a good thing, kids.

The deficit is the annual number showing the difference between how much the federal government spends and how much it takes in via taxes and fees.

Via Yahoo News:

The US government's budget deficit fell to an eight-year low in fiscal 2015, dropping to $439 billion, the Treasury Department announced Thursday.

The cut in the finance gap -- which was $1.4 trillion in 2009 -- brought the deficit down to 2.5 percent of gross domestic product, the lowest level since 2007.

The achievement marked a long effort by the administration of President Barack Obama to pare back the budget shortfall after it soared when the economy plunged into crisis in 2008.

"President Obama's agenda continues to put Federal finances on a sustainable footing while laying the foundation for durable economic growth and broadly shared prosperity," Treasury Secretary Jacob Lew said in a statement.

"Under the president's leadership, the deficit has been cut by roughly three-quarters as a share of the economy since 2009 –- the fastest sustained deficit reduction since just after World War II."

How Is The U.S. Deficit Doing?

US deficit falls to lowest level in 5 years

Want to balance the budget? How about we make some cuts here...

SRSLY.  How much defense spending do we need?

After a certain point it starts to look like a man in mid-life crisis buying an expensive sports car.  We clearly outspend EVERY  major industrialized nation.  Why not a trillion?  Two trillion?  When is enough enough?

OR - if you really care about the deficit - I'm talking to you Tea Baggers - how about we trim some of this from the defense budget and pay down the deficit?

(...falls on deaf ears...)

Congressional super-committee to announce failure to find resolution

Members of the "super committee" charged with coming up with $1.2 trillion in budget cuts are focused on how to announce failure to reach a deal, Democratic and Republican aides confirmed to CNN Sunday.

While aides said no final decision had been made, they acknowledged that -- barring an unforeseen development -- an announcement of an end to negotiations is the most likely scenario.

Democrats have proposed a "balanced" solution that would generate $400 billion from increased tax collections and $700 billion in spending meant to jump-start the economy, including an extension of the payroll tax cut, extended unemployment benefit payments and money to permanently prevent cuts in payments to doctors who treat Medicare patients.

However, Republicans would only agree to spending cuts and the closing of one small tax loophole for corporate jet owners.

Talks on trying to reach a deficit reduction agreement are essentially over and discussions are focused on a Monday announcement, a senior Democratic aide said.

More at CNN.com

Who increased the federal debt the most?

Click to see larger view

From the U.S. Treasury Department.

Now - any questions...?

The President's Balanced Approach to deficit reduction - chart

Two-thirds of the savings come from spending cuts,

one-third from closing corporate tax loopholes and allowing Bush tax cuts to expire.

How A Do-Nothing Congress Can Almost Eliminate The Deficit

From ThinkProgress.org: Center for American Progress Director for Tax and Budget Policy Michael Linden notes that “if Congress does not pass any new fiscal policies between now and January 2013, the federal budget deficit will dwindle to just 1.6 percent of gross domestic product — the largest measure of our economy — by 2014, and continue dropping.  Similarly, debt as a share of GDP will peak at 73 percent in 2013 and then decline down to 61 percent by 2021.”

The decrease would be due to the expiration of the Bush tax cuts, the triggered spending cuts that were included in the debt ceiling deal going into effect, as well as the enactment of various policies that Congress always puts off, like the alternative minimum tax.

Eric Cantor Admits That $1 Trillion In War Savings Counted In Both The Ryan Plan And ‘Cut, Cap & Balance’ Plan

From ThinkProgress: Today, Speaker John Boehner rejected Harry Reid’s plan, claiming that it was full of gimmicks. Boehner’s principle criticism was that it counted $1 trillion is savings from winding down the wars in Afghanistan and Iraq.

In an interview on CNBC, House Majority Leader Eric Cantor admitted to Larry Kudlow that both the Ryan Plan and the “Cut, Cap, and Balance” Plan — which were both supported by nearly the entire GOP caucus — also counted savings from winding down the wars:

Cantor: Speaker Boehner came out months ago and said we are not going to increase the debt ceiling unless we have comensurate or even greater cuts in spending. Now Sen. Reid’s plan doesn’t do that. What Sen. Reid’s plan says is we’re going to raise the debt ceiling $2.4 trillion and we are also going to cut spending but what he does is counts over a trillion dollars in spending that is assumed to decrease and go away anyway which is the spending associated with the wars in Iraq and Afghanistan.

Kudlow: Yes, but isn’t that in the Paul Ryan baseline also, which is the baseline for Cut, Cap and Balance.

Cantor: But, but, but… absolutely it is. But it's not anything additional...

Please kids. You want to CUT SPENDING. The Reid plan CUTS SPENDING.

The Reid plan gives Repubs everything they want and now they are avoiding it because the real issue they want is to be able to revisit this in the middle of next year's elections.

For months now we've heard that what the global markets need to see is stability and a plan they can count on. The Reid plan does that. The Boehner plan kicks the can down the road about 8-9 months. This does not show stability or a handle on our spending.

This is more posturing by the Repubs who just want to do everything they can, even if it means putting the full faith and credit of the United States at risk, to bring President Obama down.

If it walks like a duck and quacks like a duck...

Stocks surge on rumors of debt talk progress

From CNN: U.S. stocks surged on Thursday, following news that European leaders reached an agreement to contain Greece's debt crisis.

Gains were further fueled by reports that the White House and House Republicans may have reached an agreement regarding the country's deficit problems and the debt ceiling. Both the White House and House Speaker John Boehner 's offices denied the reports.

According to preliminary tallies, the Dow Jones industrial average (INDU) ended 153 points higher, or up 1.2%, at 12,724 the S&P 500 (SPX) added 18 points, or 1.4%, to 1,344 and the Nasdaq composite (COMP) rose 20 points, or 0.7%, to 2,834.

President Obama indicated earlier this week that he would support a plan to raise the debt ceiling that had been floated by a bipartisan group of senators. But investors are still concerned that the Gang of Six's plan may not have enough time or support to make it through Congressional negotiations by Aug. 2.

Current GOP Leaders Voted 19 Times To Increase Debt Limit By $4 Trillion

From ThinkProgress: At the beginning of the Bush presidency, the United States debt limit was $5.95 trillion. Despite promises that he would pay off the debt in 10 years, Bush increased the debt to $9.815 trillion by the end of his term, with plenty of help from the four Republicans currently holding Congressional leadership positions: Speaker John Boehner, House Majority Leader Eric Cantor, Senate Minority Leader Mitch McConnell, and Senate Minority Whip Jon Kyl.

ThinkProgress compiled a breakdown of the five debt limit increases that took place during the Bush presidency and how the four Republican leaders voted:

June 2002: Congress approves a $450 billion increase, raising the debt limit to $6.4 trillion. McConnell, Boehner, and Cantor vote “yea”, Kyl votes “nay.”

May 2003: Congress approves a $900 billion increase, raising the debt limit to $7.384 trillion. All four approve.

November 2004: Congress approves an $800 billion increase, raising the debt limit to $8.1 trillion. All four approve.

March 2006: Congress approves a $781 billion increase, raising the debt limit to $8.965 trillion. All four approve.

September 2007: Congress approves an $850 billion increase, raising the debt limit to $9.815 trillion. All four approve.

Database searches revealed no demands from the four legislators that debt increases come accompanied by drastic spending cuts, as there are now. In fact, the May 2003 debt limit increase passed the Senate the same day as the $350 billion Bush tax cuts for the wealthy.

When Bush was in office, the current Republican leaders viewed increasing the debt limit as vital to keeping America’s economy running. But with Obama in the White House, it’s nothing more than a political pawn.

Recent Wall Street Journal/NBC poll results

In a recent Wall Street Journal/NBC News poll of 1,000 Americans, it appears GOP lawmakers may be reading the wrong tea leaves in their approach to cutting spending and deficit reduction

67% said it was either "Totally" or "Somewhat" Unacceptable to cut Medicaid as a way to reduce the federal deficit.

76% said it was either "Totally" or "Somewhat" Unacceptable to cut Medicare as a way to reduce the federal deficit.

76% said it was either "Totally" or "Somewhat" Acceptable to raise taxes on those making more than $1,000,000 a year as a way to reduce the federal deficit.

74% said it was either "Totally" or "Somewhat" Acceptable to eliminate tax credits for oil and gas companies as a way to reduce the federal deficit.

68% said it was either "Totally" or "Somewhat" Acceptable to eliminate the Bush Tax cuts for making over $250K a year as a way to reduce the federal deficit.

Obama announces his plan for deficit reduction

President Obama announced today his plans for spending cuts and deficit reduction.

Obama called for a bipartisan approach to solving these issues, but referred to GOP proposals to "voucher-ize" Medicare as a call to "end Medicare as we know it."

In his proposal, Obama forecast $770 billion in savings over the next 12 years through non-security discretionary cuts, and another $400 billion in that time frame from the defense budget.

Obama's plan also called for a "failsafe" trigger, which would apply across-the-board spending cuts if the national debt, as a percentage of GDP, is not on the decline by 2014.

On entitlements, he proposed reducing "wasteful" subsidies and faulty payments, while cutting spending on prescription drugs by leveraging Medicare's purchasing power and coaxing generics into the market. He suggested "new incentives" for doctors to improve results and slow the growth of Medicare costs.

In addition, the income tax rates on the highest earners (families making over $250,000 a year) would revert to pre-George W. Bush rates.

I personally agree that at some level, whether it's those making over $250K or those making over $500K, or $750K - the wealthiest can afford some small increase to help pay down the country's debt.

Regarding Social Security, President Obama said he wants to strengthen the program for future generations without “putting at risk current retirees” or “slashing benefits for future generations.” Strengthen is a vague term. Some interpret that as possibly raising retirement age for future seniors.

I personally support that idea. The current retirement ages were determined at a time when people didn't live as long or as healthy as we do today. As someone who is 47 years old, I'm fine with raising the retirement age a year or two to "strengthen" the program.

Overall, I agree with Peter Peterson, Chairman of the Peter G. Peterson Foundation:

“Any successful long-term deficit reduction plan must be bipartisan, so both political parties will need to make compromises. Any viable plan must include both spending cuts and revenue increases, and should address all of the major areas of the budget, including tax expenditures, defense, entitlements and discretionary spending. There is no doubt that we can solve our problems in a comprehensive and compassionate way that achieves fiscal sustainability while preserving the social safety net for America’s vulnerable citizens and providing resources for important future investments in our economy."

Response from some governors across the country to Obama's proposals:

Minnesota Governor Mark Dayton: “A balanced approach to bringing down the national deficit with fairness and shared responsibility.”

Maryland Governor Martin O'Malley: President’s vision “to recover and rejuvenate our economy”

Delaware Governor Jack Markell: “I applaud the President for his commitment to tackling this serious challenge."

Vermont Governor Peter Shumlin: “Emphasis on shared responsibility and taking a balanced approach to revenues and spending”

Connecticut Governor Dannel P. Malloy: President “set the right tone for the bipartisan negotiations to begin”

Massachusetts Governor Deval Patrick: “Optimistic, inclusive vision for the country”