DATA POINTS
- 25% – The percentage at which all steel and aluminum imports will be taxed effective March 12
- 65,000 – The number of federal workers that have accepted the Trump Administration’s buyout offer
- 133.5 M – The number of viewers who tuned into the Super Bowl Halftime show, the most-watched halftime show in history
- $1.7 B – The expected pretax catastrophe losses from the Southern California wildfires
- $27.5 B – The amount U.S. consumers are projected to spend for Valentine’s Day this year
- $187 B – Amazon’s reported quarterly revenue, surpassing Walmart for the top spot it’s held for over a decade
The Math on Struggling Education
The COVID-19 pandemic stepped onto the world stage half a decade ago. While the virus’ impacts on health have lessened, its effect on people across the globe continues.
According to an Education Recovery Scorecard released this week, American students’ achievement levels are a half grade level behind pre-pandemic scores in both math and reading. Only 17% of students between 3rd and 8th grade attend class in districts with average math scores better than 2019, 11% in reading, and 6% in both math and reading. High-income districts are four times more likely than middle- and low-income communities to have recovered from the COVID education dip.
Widespread absenteeism, particularly in low- and high-income districts, is a contributing factor hindering academic recovery. Parents may also not be given notice if their child is underperforming in class, preventing intervention in academic growth. The Education Recovery Scoreboard also proposes potential policy changes for all levels of government to address the national issue.
Sowing Roots of a New Farm Bill
This week, the House Agriculture Committee held a hearing that may till the land for a potential new farm bill this Congress. The landscape is grim, however, as net farm income has declined 26%, and farm margins are as tight as ever. While input and farm management costs are on the rise, crop and commodity prices are low, leading to many farmers operating in the red. The hopeful farm bill is expected to have significant safety net measures, but uncertainty within the federal government has left farmers guessing if and when they will receive a helping hand from Uncle Sam.
This was the first House Ag Committee hearing of the new Congress, so there is still time, engagement, and interest in putting together a comprehensive farm package. For the latest on Capitol Hill, be sure to tune in for each new edition of The Weekender.
Read More at Brownfield Ag News
Count the Pennies, Watch the Dollars
Would you pay two cents today for a penny tomorrow? President Trump says not anymore. His Truth Social announcement that the U.S. would stop producing the humble penny came during the Super Bowl (in which he was the first President to attend). The penny has survived the Civil War, the Great Depression, and eras of politicians trying to phase them out. With 240 billion pennies hiding in every nook and cranny imaginable, how would the government go about doing away with them?
His plan is to stop producing them altogether. Under the Coinage Age of 1965, revoking the penny’s status as legal tender require an act of Congress to fulfill. However, the treasury secretary could theoretically follow his orders to halt their production without breaking the bank. Since the U.S. Treasury can adjust the amount the composition of legal tender in circulation to ensure adequate supply, it can simply (and legally) reduce its production – to zero.
The change could have impacts on niche industries, like convenience stores, gas stations, vending machine management, and laundromats. With no pennies being made, these industries could ask customers to either pay in pennies or do the math, so prices end in decibels of $0.05 (after tax).
Read More at The Washington Post
The AI in IT
IT professionals are becoming the next wave of workers hit by the AI takeover. The unemployment rate in the field rose from 3.9% in December to 5.7% in January, increasing the 98,000 unemployed individuals to 152,000. Big tech companies are pouring billions into generative AI infrastructure but are not investing in new careers in IT, especially in reporting and clerical administration roles.
The scope of the problem is much broader than AI. Unemployment among white-collar workers is soaring, with more than 1.6 million people job hunting for at least six months. The safest jobs are skilled labor and on-site positions; knowledge-based jobs are often (and easily) overtaken by an AI that asks for far less compensation than a human worker.
Read More at the Wall Street Journal
Cupid’s Around the Corner
Cupid has some surprises up his sleeve for Valentine’s Day 2025. From sky-high flower prices to AI-generated love notes, let’s take a deep dive into this year’s trends.
If you’re thinking about grabbing a classic bouquet of long-stemmed red roses, brace yourself… prices grew to an average of $90.50 per dozen! The most expensive roses in the U.S. are found in Hawaii – $143 per dozen. The most affordable are in California at $68.33. I
Meanwhile, artificial intelligence is taking over the Valentine’s card game. AI-powered tools like Photoroom are letting people generate custom, quirky, and sometimes hilarious cards with just a few clicks. While the results can be hit-or-miss (think “Naïve Cuteness” gone wrong), it’s a fun and modern way to personalize your Valentine’s love notes.
See you next week!
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