Ukraine: In advance of welcoming Ukrainian President Zelenskyy to the White House today, President Biden announced that he has authorized the Defense Department to spend another $5.5 billion in funds from the Ukraine Security Assistance Initiative Fund to aid Ukraine in its fight against the Russian invaders. Biden also announced $2.4 billion in new assistance to Ukraine that includes anti-missile systems and munitions. “For nearly three years, the United States has rallied the world to stand with the people of Ukraine as they defend their freedom from Russian aggression, and it has been a top priority of my Administration to provide Ukraine with the support it needs to prevail,” Biden said. Â
Lebanon: Israel’s military said this morning it is carrying out highly targeted strikes against Lebanon’s capital city Beirut. The Lebanese reported that a block of apartment buildings in the city was hit. An Israeli source told CNN that Prime Minister Netanyahu would be holding talks at the U.N. today on a possible cease-fire between Israel and Hezbollah, which has been attacking Israel from Lebanon. Â
Hurricane: Evacuations were underway as the Florida Gulf Coast prepares for Hurricane Helene to make landfall. The storm is approximately 450 miles across and heavy rain and high winds have been lashing wide arts of the state. Helene had reached Category 2 strength by this morning and was expected to grow in intensity as it moves slowly across the warm waters of the Gulf. More than 800 flights nationwide have been cancelled because of the storm.
Stamps: The U.S. Postal Service says it plans to hike the price of a first-class stamp at least five times before the end of 2027. The Postal Service says that the next price hike will be in July of next year and then every January and July through 2027. A first-class letter of one ounce or less currently costs 73-cents to mail. U.S. Postmaster General Louis DeJoy recently announced restructuring plans that would slow down mail delivery for many people.
Economy: The Department of Commerce this morning reported more signs of a solid U.S. economy with the gross domestic product (GDP), the value of all goods and service, increasing 3% in the second quarter of 2024. That was a substantial increase over the 1.6% increase in GDP reported for the first quarter of the year. Personal income increased by $315.7 billion in the second quarter of the year. People in the U.S. were able to save 5.2% of their disposable personal income during the second quarter of the year.
Unemployment: The U.S. Department of Labor reported this morning that in the week ending Sept. 21, new claims for unemployment insurance dropped by 4,000 to 218,000. That was the lowest number since the middle of May. A decrease had not been expected by many analysts. The insured unemployment rate was 1.2% for the week ending Sept. 14, unchanged from the previous week. New York was among the states with the highest increase in new unemployment insurance claims while Connecticut was among the states with the lowest increase.
