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‘Ballet for horses’ Dressage show featuring 82 riders comes to Earl Warren Showgrounds
Poll: Americans don’t expect Inflation Reduction Act to reduce inflation By CASEY HARPER THE CENTER SQUARE
(The Center Square) – The majority of registered voters don’t expect the Inflation Reduction Act to actually reduce inflation, according to a new poll. A Morning Consult/Politico survey reports that only 24% of those surveyed expect the $740 billion climate, tax and health care bill to reduce inflation while 34% said it will make inflation worse. President Joe Biden signed the legislation Monday, which includes tens of billions of dollars in renewable energy investments as well as an Obamacare expansion, authorization for Medicare to negotiate certain drug prices, and a $35 per month cap on insulin copays, among other measures. Most economists say the measure will not curb inflation despite its name. Supporters of the bill argue it will lower inflation by
KENNETH SONG / NEWS-PRESS PHOTOS
Jill Giri competes in the Fourth Level Test 3 AA class with her horse Blue during a dressage show hosted by the Santa Barbara County Chapter of the California Dressage Society at the Earl Warren Showgrounds in Santa Barbara on Sunday.
By NEIL HARTSTEIN NEWS-PRESS STAFF WRITER
When it comes right down to it, the intricate, precise dance steps performed by horse and rider during dressage, guided by their intimate connection, is nothing
short of “ballet for horses.” At least that’s how Gina von de Burg describes it. And she should know, since she’s the show chair for the Santa Barbara County Chapter of the California Dressage Society. And what a show it was this
past weekend at the Earl Warren Showgrounds, as 82 riders and horses mesmerized about 200 spectators on Saturday and again on Sunday. “It really went well. I mean really well,” Ms. von de Burg told the News-Press. “It was
ecstatic here at the Earl Warren Showgrounds.” And it didn’t hurt that Mother Nature played her usual part in setting the stage. “It is so beautiful here in Santa Barbara,” Ms. von de Burg said. Please see DRESSAGE on A2
Obama administration economist warns about student debt cancellation with deadline approaching By CASEY HARPER THE CENTER SQUARE
(The Center Square) – Harvard Professor and former Chair of President Barack Obama’s Council of Economic Advisors Jason Furman says that forgiving student debt “benefits recent college grads and hurts most everyone else, both rich and poor.” President Joe Biden has considered forgiving $10,000 of student debt per borrower. Dr. Furman argued that taxpayers will be left on the hook for the federal spending. “Student loan relief is not free,” Dr. Furman wrote on Twitter. “It would be paid for. Part of it would be paid for by the 87% of Americans who do not benefit but lose out from inflation. Part of it would be paid for by future spending cuts [and] tax increases – with uncertainty about who will bear those costs.” The warning comes as President Biden’s window to once again suspend student loan repayment is closing. President Biden’s previous suspension of student debt repayments expires at the end of the month, and the president has yet to announce whether he is once again going to defer payments or if students will be on the hook for their debt. U.S. Department of Education Secretary Miguel Cardona said last week that a decision is coming “soon.” Former President Donald Trump first suspended the payments because of COVID19 in March of 2020, and that suspension, which has been
Brooklyn Gagne competes in the Training Level Test 2 Jr/YR class with her horse Curran.
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extended several times, is now set to expire again. Interest does not accrue on the debt while payments are frozen. “Student loan relief would lead some people to spend more,” said Dr. Furman, who is also a senior fellow at the Peterson Institute for International Economics. “We can’t make more so others would consume less. The way that happens is inflation. Budget constraint. If you add hundreds of billions to the deficit, eventually taxes will rise or spending will be cut. Or some tax cut or spending increases that could have happened won’t. Either way a cost. A full evaluation of student loan relief would take this into account. You might still like it – it benefits recent college grads and hurts most everyone else, both rich and poor. But don’t assume it is ‘free’ money – it is not.” Other experts argue that the federal spending will undermine the deficit cuts in the Inflation Reduction Act that proponents argued would lower inflation. “Simply extending the current repayment pause through the end of the year would cost $20 billion – equivalent to the total deficit reduction from the first six years of the IRA, by our rough estimates,” the Committee for a Responsible Federal Budget said in a statement. “Canceling $10,000 per person of student debt for households making below $300,000 a year would cost roughly $230 billion. Combined, these policies would consume nearly ten years of deficit reduction from the Inflation Reduction Act.”
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reducing deficit spending, which is in part paid for by a 15% minimum tax on companies with more than a billion dollars in revenue as well as a hiring spree of IRS auditors. The survey also asked: “As you may know, inflation rose 8.5% in July compared to a year ago, but slowed to 0% on a month-tomonth basis, as consumer prices held steady since June. To what extent do you think each of the following is responsible for the increasing inflation in the U.S. economy?” When asked if the Biden administration was responsible, 38% said the administration is “very responsible” and another 21% said “somewhat responsible.” The poll found 16% said the Biden administration was “not too responsible” and 15% said the administration was “not responsible at all.” The survey found registered voters trust Congressional Republicans more than Democrats to handle inflation with 46% picking Republicans and 37% choosing Democrats.
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Saturday’s SUPER LOTTO: 1-7-18-22-38 Mega: 4
Sunday’s DAILY 4: 2-3-9-4
Friday’s MEGA MILLIONS: 33-35-41-45-51 Mega: 1
Sunday’s FANTASY 5: 1-4-15-24-36
Sunday’s DAILY DERBY: 04-01-06 Time: 1:47.25
Saturday’s POWERBALL: 5-9-11-16-66 Meganumber: 7
Sunday’s DAILY 3: 8-6-3 / Midday 3-0-1