2025 6-25 Matters of Democracy NYC Mayoral Primary, Iran, Budget and Social Security Podcast By  cover art

2025 6-25 Matters of Democracy NYC Mayoral Primary, Iran, Budget and Social Security

2025 6-25 Matters of Democracy NYC Mayoral Primary, Iran, Budget and Social Security

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The recent New York City Democratic mayoral primary saw a significant upset, with Democratic Socialist Zohran Mamdani securing the nomination over former Governor Andrew Cuomo. This outcome highlights several important political trends and potential future impacts.

Recent events indicate a turbulent period for the Trump administration regarding its handling of Iran, marked by perceived missteps and a lack of strategic success.

Social Security Insolvency Imminent: A major, yet overlooked, issue connected to the budget is the status of Social Security. The Social Security trust fund is now projected to run out of money in 2034, one year earlier than previously expected. Consequences of Inaction: If no changes are made, benefits will not end entirely but will face a significant cut of "about 25%."

Financial market data points to a bearish trend in bond rates and evolving expectations for interest rate cuts, with key dates for "reality checks." July 8th: The "Reciprocal tariff pause ends," July 15th: The next "reality check" for rate cut expectations will come with "inflation being reported.

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