The Daily Valet. - 5/30/23, Tuesday
✔️ Do We Have a Deal?
Tuesday, May 30th Edition
By Cory Ohlendorf, Valet. Editor
Welcome back gang! The good news is that it's already Tuesday.
Today’s Big Story
Do We Have a Deal?
Biden and McCarthy reach a deal to avoid a historic default, but will it pass?
We're getting down to the wire. But it seems like as we were all enjoying the long holiday weekend, top negotiators for President Biden and House Speaker Kevin McCarthy were working late into the night to finalize the details of a measure that, if passed, would avoid a historic government default and raise the nation's debt ceiling.McCarthy released the outcome of those efforts, 99 pages of legislative text, on Sunday evening, giving House lawmakers 72 hours to review the bill before a planned vote on Wednesday. Both Biden and McCarthy say the bill includes necessary trade-offs.The bill cuts so-called nondefense discretionary, which includes domestic law enforcement, forest management, scientific research and more—for the 2024 fiscal year. It would limit all discretionary spending to 1% growth in 2025. This, according to the New York Times, is effectively a budget cut, because that is projected to be slower than the rate of inflation. It would also add new work requirements for certain recipients of food stamps.The centerpiece of the agreement remains a two-year suspension of the debt ceiling—this allows the government to keep borrowing money and pay its bills on time. That is, as long as Congress passes the agreement before June 5, when Treasury has said the United States will run out of cash. And that's not necessarily guaranteed.Both Republican and Democratic support is needed for the bill agreement to pass. And on Monday, a handful of hard-right Republican lawmakers said they would oppose the deal. That, of course, was expected and the real test will come later today when the House Rules Committee takes up the bill, in a necessary first step before a vote in the full House. But McCarthy told reporters on Monday he was not worried about the package's prospects in the committee.
FYI:
Stock futures rose Tuesday morning after the tentative deal was announced.
Shoplifting Spree?
American retailers count the cost of surging shopping crime
Stores across the country say that there's been a noticable surge in thefts. So much, in fact, that it's costing some of them hundreds of millions of dollars as they try to outwit organized criminals with extra security and surveillance.Retailers' concerns about shoplifting grew through the economic and social upheavals of the pandemic, with the industry losing almost $100 billion in 2021 to “shrink” (an industry term covering shoplifting and employee theft), according to the National Retail Federation. But the problem has worsened since then, reports the Financial Times. And some brands have responded by closing outlets altogether—with REI, Nordstrom and most recently Old Navy following Starbucks in shutting stores in West Coast cities.However, as CNBC points out, larger retailers have sent mixed messages on the threat they face from retail theft. In January, Walgreens said it may've overstated concerns about theft and impact on retail “shrinkage.” But recently, both Home Depot and Target cited rising retail theft as cause for concern. NRF president Matt Shay says the issue isn't going away, but stressed that in-store, individual crime is not the real issue. “It's not people shoplifting,” he said, but rather larger, more sophisticated organized crime.
Dig Deeper:
As is the case with so many stories, there's likely more nuance here. For instance, SFist reports that Old Navy is “already working to identify new locations in downtown San Francisco” after announcing the closure of their flagship store in the city.
Magic Eraser lets you buff the randos from your beloved vacation snaps. But you’re losing something valuable in the process.”
- Slate makes the case for keeping randos in your photos
Shut Your Mouth
Could you Sleep with your mouth taped shut? Is there really something to this new wellness Hack?
I'd been hearing about taping your mouth to sleep for a while, but it seems like the trend has reached a fever pitch lately. The famously fit have been posting pictures and videos of themselves on social media with tape over their mouths, touting the benefits of nasal breathing. On TikTok, videos tagged “Mouth Tape” have over 38.5 million views.Users claim that it stops snoring, drooling and dry mouth, while preventing bad breath and improving your sleep quality. Recently, the massively influential neuroscientist Andrew Huberman recommended mouth taping at night (and practicing nasal breathing when you exercise). But is it safe? Really? Most experts seem skeptical at best.“The nose is the humidifier of the body,” one doctor told SELF. “So we encourage nasal breathing because when air goes through the nose, it gets humidified, warmed and filtered from allergens.” But she and others warn against a quick fix like tape. They argue that it won't fix underlying sleep problems and—no surprise here—it could be dangerous. If you want to tape something, they recommend nasal breathing strips to temporarily open up your nostrils, rather than slapping something over your mouth.
you Game?
If you're curious to try, Hostage Tape is the go-to brand for most wellness bros, thanks to its flexible, comfortable adhesive.
High-Speed Trains Are Expanding in the U.S.
Yes, we are behind the rest of the world, but we’re (slowly) catching up
Six decades after Japan debuted its famed shinkansen bullet trains, high-speed rail now connects major cities across Europe, South Korea and especially China, which now boasts a sprawling 26,000-mile system. Other regions are embracing it as well: trains speed through Morocco, the Saudi Arabian desert and an all-new high-speed line spanning Indonesia's Java island will open this month. The one major outlier? You guessed it ... Those traveling around America have two choices: drive or fly. Both of which can have considerable drawbacks when you consider that most highspeed train options are not only more affordable, but drop you conveniently right in the city center. But more American rail options are thankfully just around the corner. The 2021 bipartisan infrastructure law allocated $66 billion towards passenger rail infrastructure, to be spent over a period of years.Amtrak is getting its Acela trains running at up to 160mph this year between Boston, New York and Washington DC. And according to Thrillist, there are high-speed train projects popping up around the country, from California to Florida. Most of them being constructed are through private ventures, not government investment, but hey it's a start.
FYI:
Shanghai's Maglev train is currently the fastest train in the world (reaching cruising speeds around 286 mph).
In Other News
Consider for a minute that you may not really know flies.
Have you heard about ...
Make Room for Books
Why You need more books in your life
Books have the ability to transport us to worlds we might never see and introduce us to people we would never meet. They instill emotions and inspire thoughts we might have never otherwise felt or thought on our own. It's no secret that reading is good for you.But especially these days, reading's ability to provide you with the tools to think more decisively and connect with others is more handy than ever. Not to mention, books make us look more attractive to others and give our homes a worldly vibe. So it's time to make room for books in your life. And in case you need more convincing, let us count the ways.
Get Started:
Shopping
What We’re Buying
A vintage-inspired shirt
This is a shirt ($125 / $100) that punches well above its weight. Made from 100% organic cotton at a lean 4-oz weight, it's been garment dyed and washed for a vintage look and feel. With an easy-going camp collar and wide front placket, it looks great on its own, worn open over a tank or buttoned up under a jacket. It's the type of shirt you'll find yourself reaching for all summer.
Want More?
The five stylish items you should be buying this week.
Morning Motto
Hang in there.
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