The Pour Over Today - Friday, July 29, 2022

Episode Date: July 29, 2022

Today we’re talking about the latest (disappointing) GDP numbers, Senator Manchin’s change of heart on a climate bill, a proposed prisoner swap, and other top news for Friday, July 28th. Stay informed while remaining focused on Christ with The Pour Over. Sponsored by the Christian Standard Bible (CSB)

Today, we're talking about the latest disappointing GDP numbers, Senator Manchin's change of heart on a climate bill, a proposed prisoner swap, and other top news for Friday, July 28th. Stay informed while remaining focused on Christ with The Pour Over. Here's the quote of the day. If you look around the world, you'll be distressed. If you look within, you'll be depressed. If you look at God, you'll be at rest. Corey Ten Boom.

Let's start with some espresso shots. Uncle Sam just announced his summer blockbuster, Honey, I Shrunk the Economy Again. The economy contracted 0.9% in Q2 following a decline of 1.6% in Q1. Back-to-back negative growth is a common rule of thumb definition for a recession, but the official definition is when the National Bureau of Economic Research says, yep, this is a recession, a judgment that often takes months. Some economists question if the strong labor market will stop 2022 from technically earning the unfavored recession designation. Regardless, the Federal Reserve made it clear they're willing to risk economic decline if it means taming inflation. They raised interest rates 0.75% again on Wednesday. Raising rates makes borrowing money, mortgages, car loans,

business loans more expensive, so spending declines, and prices hopefully come down. A major way we can reflect the security, peace, and hope of salvation is by worrying less about certain topics than the rest of the world. A recession designation is not unimportant, but neither is it all important. Philippians 4, verse 12 through 13 says, I know how to make do with a little, and I know how to make do with a lot. In any and all circumstances, I have learned the secret of being content. Whether well-fed or hungry, whether in abundance or in need, I am able to do all things through him who strengthens me.

I am able to do all things through him who strengthens me. If Manchin's binging the bear during his COVID quarantine, we'd never know it. He's still crossing big items off his to-do list. After stonewalling larger proposals over inflation concerns, Senator Joe Manchin reversed course with his stunning support for a big spender reconciliation bill that will reform the tax code, combat climate change, and cut health care costs. The bill includes $369 billion towards climate-related programs, $64 billion to expanded coverage of the Affordable Care Act, 15% minimum corporate tax rate, and permission for Medicare to negotiate drug prices. Nonpartisan estimates say that those two items are projected to make Uncle Sam's $739

billion, and the entire bill should reduce the deficit by $300 billion over the next decade. The bill is expected to pass with zero Republican support and reluctant votes from progressive Dems who wanted more. Here's a verse to consider when your head spins over the thought of $739 billion. Anyone trusting in his riches will fall, but the righteous will flourish like foliage. Proverbs 11, verse 28. A trade between Russia and the U.S. is officially on the table. President Biden reportedly personally approved a prisoner swap with Russia, imprisoned Russian arms dealer Viktor But, aka the Merchant of Death, in exchange for WNBA star Brittany Greiner and ex-marine Paul Whelan. Greiner has been detained in Russia since

February when hashish oils were found in her luggage in a Russian airport. Whelan, a security executive accused of espionage, has been held in Russia since 2019. The U.S. classifies both Greiner and Whelan as wrongfully detained. The State Department is officially opposed to prisoner swaps, fearing they encourage kidnapping of U.S. citizens, but they're not uncommon. Russia hasn't signed on the dotted line yet and emphasized that they don't want any fanfare if a deal is made. Here's a verse to consider when reading about high-stakes international negotiations. First of all, then I urge that petitions, prayers, intercessions, and thanksgivings be made for everyone,

for kings and for all those who are in authority, so that we may lead a tranquil and quiet life in all godliness and dignity. 1 Timothy 2, verse 1 through 2. Sermons are great. We love Christian books, and of course, watching interpretive dances of Christian history is our favorite pastime. But there's no substitute for actually reading the Bible. Just one problem. There are literally hundreds of different English translations of the Bible. Our favorite translation is the one you will actually read, and for us, that's the Christian

Standard Bible. The Christian Standard Bible is the product of over 100 biblically-minded scholars from 17 denominations dedicating years to translate God's Word. It's both trustworthy and understandable. Check out the link in our show notes. to translate God's word. It's both trustworthy and understandable. Check out the link in our show notes. In other brews, here's a rapid round of updates. Who wants to be a billionaire?

With no winning tickets bought earlier this week, tonight's Mega Millions jackpot is up to $1.02 billion, the third highest of all time. You'd actually still be a ways off from billionaire status. The lump sum is only $602.5 million, $408 million after taxes. JetBlue is buying Spirit Airlines for $3.8 million, a price tag that does not include baggage, soda, or snacks. Frontier announced plans to merge with Spirit in February, but JetBlue launched a competing bid in April. Ultimately, the Frontier deal was grounded, allowing JetBlue and Spirit to form the fifth largest U.S. airline. A man is now HIV-free after receiving a stem cell transplant meant to treat his leukemia.

The stem cells contained a rare genetic mutation that blocked the HIV infection, providing new hope for developing a reliable cure. Globally, nearly 40 million people have HIV, but only five have ever been cured. Who are Ken Jennings and Mayim Bialik? We'll take new Jeopardy! hosts for 500. The two former temporary hosts were officially offered permanent contracts for Jeopardy!, a role that has been vacant since Alec Trebek passed away in November 2020. The legendary show's 39th season will air in September. Striking Solution or Science Fiction Fantasy? Construction has begun on The Line, a linear city in the Saudi Arabian desert. It's an initiative by Saudi Crown Prince MBS who

hopes 9 million people will one day live in and between two parallel 100-mile-long skyscrapers. Stay tuned to see if it's possible. That's all the time we have for today. Thanks so much for listening. If you're listening on the Apple Podcast app, give us a five-star rating and drop a review. If you're listening on Spotify, give us a follow and hit the notification bell to never miss a new episode. We appreciate your support and hope you have a great weekend. We'll see you on Monday.