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The Latest Breaking News from Andrew Mellon

America's Credit Is Falling—and the Government Is Still Digging Deeper Into Debt

The lesson from the Moody's credit downgrade is that the U.S. cannot borrow its way to prosperity.

Reason

Reclusive billionaire heir Timothy Mellon gave $125 million to help elect Trump, even more than Elon Musk

A grandson of industrialist baron Andrew Mellon, he once railed against federal entitlements, which he said make Black people “belligerent.”

Fortune

Billionaire first to reach $100m in election donations – to Trump and RFK Jr

Tim Mellon, who said US safety net was ‘slavery redux’, has now given $75m to Trump and $25m to support RFK Jr

The Guardian - US

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RFK Jr.'s biggest back is GOP megadonor

Super PAC backing Robert F. Kennedy Jr. got $5 million from Trump donor Timothy Mellon

Salon

Robert F Kennedy Jr’s campaign bankrolled by Republican mega-donor

Super Pac affiliated with anti-vaccine conspiracy theorist received $5m from Trump backer Timothy Mellon

The Guardian - US

Why Do We Have a Debt Limit?

Critics of the limit are right that it wasn't intended as an ex post check on spending, but its history makes constitutional objections difficult to fathom.

Reason

Small Scottish town where Local Hero was filmed announces festival celebrating movie

Banff in Aberdeenshire, which has been declared the cult classic's 'ancestral home', has announced an upcoming festival in honour of the movie's 40th anniversary.

Daily Record

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Michael Hiltzik: Did the pandemic finally give working Americans power over their employers? Not really

Labor advocates have been feeling their oats lately, what with a surge of successful union organizing drives at Starbucks stores, the hint of union interest at Amazon warehouses, higher minimum wage standards in cities and states across the country, and a nudge up of average wages across the board.

Los Angeles Times

Should we raise unemployment to fight inflation? No, we need to protect jobs no matter what

If economic history teaches us anything, it's that when times get tough, working men and women get targets painted on their back.

Los Angeles Times

Scots chef up-cycles Boeing 737 galley into kitchen in his luxury holiday cottage

Chef Andrew Mellon found the galley on eBay for just £149 and decided to up-cycle it and include it in his holiday property.

People

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Bureau of Labor Statistics

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Open Secrets

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