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 board 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.

Cory, 10 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 unfavered 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 piece 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.

If mansions 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 US is officially on the table. President Biden reportedly personally approved a prisoner swap with Russia.

In prison Russian arms dealer Victor Boot, aka the merchant of death in exchange for WNBA star Brittany Griner and ex-Marine Paul Wheelan.

Griner has been detained in Russia since February when Hashish oils were found in her luggage in a Russian airport.

...