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Why lottery winnings don't always lead to happiness

Receiving a massive influx of cash may seem like instant gratification but research has shown that winning a lottery may increase life satisfaction but may not impact general happiness. 

The odds of winning a Mega Millions jackpot is one in 303 million — while the odds of winning at least $1 million are about 1 in 12.6 million. 

For the lucky few who do manage to snag a winning ticket, they will likely experience an increase in life satisfaction that can persist for over a decade, with no evidence of that decreasing over time.  

However, the effect on a person’s happiness and mental health after winning a lottery is more mixed, with research showing increases are usually smaller and not statistically significant. 

Those are findings that researchers from New York University and Stockholm University in Sweden came to after studying over 400 people who had won lotteries in Sweden from 1998 to 2011.  

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“We find that winning large sums of money strongly affects how content you are with your personal finances. But it does not affect how you feel about other aspects of life, such as your health, or your relationships with friends and family,” said Erik Lindqvist, one of the researchers behind the study. 

Lindqvist’s team found clear evidence that wealth improves people’s evaluation of their lives as a whole— suggesting that improved financial circumstances is an important component behind increasing people’s life satisfaction.  

Happiness is notably different, as researchers explained that it’s a concept that differs in interpretation from person to person. 

“Exactly how people evaluate their happiness we cannot know, but I would think that it is strongly related to how they feel at the moment. To be satisfied with your life, on the other hand, is perhaps more about having what you think you can demand of life,” said Lindqvist. 

An infusion of cash may help people with their personal finances, but it may not affect how they feel about other aspects of their life, like health or relationships with friends and family. 

Some of the first research conducted on lottery winners was published back in 1978 and that also found no statistically significant differences between lottery winners and non-winners in terms of happiness. 

However, to the average American it may still be tempting to test out one’s luck — especially after the Mega Millions jackpot hit $1.025 billion, the fourth-largest prize in U.S. lottery history. The next drawing is scheduled for Friday. 

Just last year, a lottery ticket purchased in Michigan led four people to win $1.05 billion. The largest Mega Million jackpot ever won in U.S. history was sold in South Carolina in 2018 and totaled $1.537 billion. 

Source: TEST FEED1

Blinken to discuss proposal to free Paul Whelan, Brittney Griner with Russian counterpart

Secretary of State Antony Blinken said Wednesday that the U.S. has made a “substantial proposal” to Russia to secure the release of Paul Whelan and Brittney Griner.

“We put a substantial proposal on the table weeks ago to facilitate their release,” Blinken said in remarks at the State Department.  

Blinken said he plans to speak with Russian Foreign Minister Sergey Lavrov in the coming days and will bring up the proposal to free both Americans, who the U.S. says have been wrongfully detained by Moscow.

The conversation will be the first time that the two have spoken since Russia invaded Ukraine at the end of February.  

Developing

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WHO director-general says men who have sex with men should reduce number of sexual partners amid monkeypox outbreak

World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus on Wednesday advised that men who have sex with men adjust how they go about sexual encounters amidst the monkeypox outbreak, recommending that they reduce their number of sexual partners and reconsider initiating sex with new partners.

During a briefing, Tedros stated more than 18,000 monkeypox cases have been found in countries with the majority currently cropping up in the WHO’s European Region. Five deaths have been reported so far and about 10 percent of cases have been admitted to hospitals for pain management.

He stressed that the outbreak can be stopped if countries take the virus seriously and take steps to reduce the risk of infection.

“For men who have sex with men, this includes, for the moment, reducing your number of sexual partners, reconsidering sex with new partners, and exchanging contact details with any new partners to enable follow-up if needed,” said Tedros.

Monkeypox is not a sexually transmitted disease and can spread through any prolonged skin-to-skin contact as well as through contaminated linens and bedding.

Currently, the virus is spreading through the social networks of men who have sex with men.

Tedros warned that “stigma and discrimination can be as dangerous as any virus, and can fuel the outbreak,” and cautioned people to be aware of misinformation and disinformation about the virus.

“Although 98% of cases so far are among men who have sex with men, anyone exposed can get monkeypox, which is why WHO recommends that countries take action to reduce the risk of transmission to other vulnerable groups, including children, pregnant women and those who are immunosuppressed,” he said.

Several countries including the U.S. have begun distributing and administering smallpox vaccines believed to be effective against monkeypox to help mitigate the spread. The WHO head noted that data on smallpox vaccine effectiveness for monkeypox is still lacking and recommended a targeted approach to immunization.

Tedros also noted that vaccines are not immediately effective and can take several weeks to offer protection.

“That means those vaccinated should continue to take measures to protect themselves, by avoiding close contact, including sex, with others who have or are at risk of having monkeypox,” he said.

Source: TEST FEED1

'The View' issues on-air apology for comments about Turning Point USA

The co-hosts of ABC’s “The View” on Wednesday issued an apology for statements made Monday about protesters outside an event hosted by the conservative activist group Turning Post USA.

“We want to make clear that these demonstrators were outside the event and that they were not invited or endorsed by Turning Point USA,” host Sara Haines said during Wednesday’s show.

The apology came after the group threatened to sue the ABC daytime show.

Earlier in the week, during a discussion about Turning Point USA’s summit in Florida, host Joy Behar said “Neo-Nazis were out there in the front of the conference with antisemitic slurs and … the Nazi swastika and a picture of a so-called Jewish person with exaggerated features, just like Goebbels did during the Third Reich. It’s the same thing, right out of the same playbook.”

Turning Point USA, a grassroots conservative movement founded by talk show host Charlie Kirk, has argued the protestors were not affiliated with the group and they could not be removed because the demonstrations were taking place on public property.

Whoopi Goldberg, another host of the ABC daytime talk show, said of Turning Point USA, “you let them in and you knew what they were, so you are complicit.”

After the panel’s initial comments earlier in the week, Turning Point USA issued a cease-and-desist letter to ABC, Fox News reported, asking for a retraction.

“The false statements of fact intentionally made during The View’s July 25th segment were unquestionably harmful to TPUSA’s reputation and brought the organization and its student affiliates into disrepute with the public, potential donors, and current and future business partners, posing a significant financial loss to the organization,” the letter said. 

Haines said on Wednesday that the hosts apologize for “anything we said that may have been unclear on these points.”

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Fed hikes interest rates another 75 basis points as recession warnings flash

The Federal Reserve announced another steep interest rate hike Wednesday, ramping up its efforts to bring inflation down from four-decade highs.

The Federal Open Market Committee (FOMC), the panel of Fed officials responsible for monetary policy, said Wednesday it would boost the central bank’s baseline interest rate by 0.75 percentage points to a range of 2.25 to 2.5 percent.

The Fed has now hiked interest rates by 75 basis points twice over the past two months, a remarkably fast increase that is likely to slow the economy.

Fed officials have hinted at another 75 basis point rate hike for weeks since the June FOMC meeting. The bank raised rates last month by 0.75 percentage points for the first time since 1994 after inflation surged higher in May than economists expected.

While the Fed’s rapid rate hikes have throttled the housing market, suppressed stock values and spurred a small rise in layoffs, they’ve yet to make a noticeable impact on inflation. 

Consumer prices rose 9.1 percent annually in June and 1.2 percent last month alone, according to Labor Department data released this month. Though war-related supply shocks beyond the Fed’s control drove much of the June inflation surge, prices across the economy grew at much faster rates despite the central bank’s actions.

Fed Chair Jerome Powell and other top officials have insisted the bank will do whatever it takes to bring inflation back down toward its 2 percent annual target, even if it means higher unemployment and a potential recession in the short-term.

He also acknowledged the Fed has little ability to bring down food and energy prices, but would continue to hike rates if inflation didn’t turn around.

Powell and many economists argue that allowing inflation to spiral out of control would cause a deeper economic downturn than one caused by higher interest rates. Without aggressive steps to fight inflation, they warn, price increases will eventually cause unemployment to spike, but give the Fed and Congress little room to support the economy with stimulus.

“The process is likely — highly likely — to involve some pain, but the worst pain would be from failing to address this high inflation and allowing it to become persistent,” Powell said last month.

Though the economy on the whole has remained sturdy, the pain is already growing for many households with little room to handle higher prices. 

Surging food, gasoline and shelter costs have pushed many struggling households toward food banks and difficult cutbacks.

Higher interest rates are boosting borrowing costs on credit cards, some automobile loans, and other loans without fixed interest rates, squeezing families on both sides of the balance sheet.

U.S. gross domestic product also fell during the first quarter of 2022 and economists say it’s likely GDP declined again in the second, meeting what had long been a rule-of-thumb definition for a recession.

While economists say the strong job market is a reassuring sign for the U.S. economy, some believe the Fed has already pushed the U.S. to the precipice of a recession and should slow down its fight against inflation.

–Updated at 2:07 p.m.

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It’s the (pandemic) economy

The impact of the pandemic on the U.S. and global economy was catastrophic. Economic historian Adam Tooze characterized its impact as being “the swiftest and most comprehensive contraction of global economic activity ever.”

There are clearly other factors at work with regard to the economic problems confronting the U.S. and rest of the world, but it is safe to assume that the present economic conundrums would not exist without the pandemic. President Biden is being blamed for issues that are largely beyond his control and not of his making. Inflation is the primary focus of most Americans, who are concerned about rising prices for gasoline, consumer goods and utilities. FiveThirtyEight found that inflation has had a significant impact on Biden’s approval rating. 

The discontent over inflation is accompanied by fear of recession as the Federal Reserve raises interest rates to respond to spiraling prices. The stock market has been volatile, plunging in reaction to concerns over an uncertain economy. Yet, unemployment is also historically low, and the American public is traveling again at pre-pandemic levels — a sign of consumer confidence.

Peter Goodman wrote in the New York Times about what has been termed a “force hiding in plain sight” — the economic shock of the pandemic. Goodman suggests that the present economic crisis is in reaction to the pandemic and has been exacerbated by Russia’s disastrous attack on Ukraine. He quotes University of Texas economist Julia Coronado as saying, “Pretty much everything in our lives has been disrupted by the pandemic, and then we layer on that a war in Ukraine.”

Supply and demand, which is fundamental to the cost of goods and services, were affected dramatically by the pandemic. People largely stayed at home. Jobs were lost and businesses were closed. Supply chains were disrupted. The nature of work and education changed. How people viewed their jobs and their future in the workforce was altered.

Lockdowns meant that the home became central to day-to-day lives, which altered patterns of consumption and how the economy functioned. For example, going to movies and restaurants was drastically curtailed, even halted. The restrictions of everyday life during the height of the pandemic had an impact on how people viewed their day-to-day activities. Working from home, another pandemic-related change, affects issues such as office space, public transportation and the functioning of businesses that no longer connect to the pre-pandemic economic reality of going into the office regularly. 

Understanding the role that the pandemic has played in determining the present economic state in the U.S. and globally, as well as the economic future, is key to determining responses to present crises. Biden has been criticized for putting too much money into the economy and thereby increasing the likelihood of inflationary pressure with his American Rescue Plan, but the plan was literally a lifeline for millions of Americans — who, in turn, helped stabilize the economy.  

In addition, the U.S. just joined 17 other nations in responding to supply chain issues via the Supply Chain Ministerial Forum. This effort is a good example of a response to the international dimension that the pandemic and related crises are having on the U.S. and the global economy.

Familiar tools such as the Fed’s raising of interest rates are being used to respond to the rise in inflation. There are risks to this approach, but the calculation is that it is a risk worth taking. The issue of placing political blame on the Fed chairman plays an important role in the argument of whether there will be support for the Fed in its effort to raise interest rates and stop inflation from careening out of control. 

As economic writer and scholar Sebastian Mallaby recently pointed out in the Washington Post, “If (former President) Trump or a Trumpist wins in 2024, he or she will probably attack the Fed at the expense of growth and jobs, even though the best thing the Fed can do for the economy is to deliver stable prices. Vacancies on the Fed’s decision-making committee could be filled by hacks with no stomach for the short-term costs of containing inflation.”

The economy is fundamental to how people view their future, and how they view their future determines how they vote. This does not mean that tough analysis on economic policy choices is not warranted. It is, but if that analysis is to be sound it must include an honest assessment of the circumstances surrounding the present state of the economy. This is an existential issue, because, while the medical response to the pandemic has changed for the better as a result of innovations, the pandemic is far from over. It is also a safe bet that there will be future pandemics that will impact the daily lives of Americans. 

The present economic crisis is not so much about inflation as it is about trusting and empowering political leaders to act responsibly in managing the economy under difficult and evolving circumstances. That trust must be based on facts and sound analysis and not on a faux populism buttressed by disinformation. There is too much at stake to do otherwise.

William Danvers is an adjunct professor at George Washington University’s Elliott School and worked on national security issues for the Clinton and Obama administrations. 

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Cruz backs challenger to Trump-endorsed candidate in Wisconsin gubernatorial race

Sen. Ted Cruz (R-Texas) announced on Wednesday he would be endorsing a challenger to former President Trump’s endorsed candidate in Wisconsin’s gubernatorial race.

Cruz said he would be backing former Wisconsin Lt. Gov. Rebecca Kleefisch (R) in the Wisconsin governor’s race ahead of the Aug. 9 primary.

“I’m proud to endorse @RebeccaforReal for governor of Wisconsin. Rebecca will fight for a stronger economy, school choice so parents are back in charge of their kids’ education, & she will work to protect Life & our #2A. Support Rebecca’s campaign today!” Cruz tweeted.

“.@tedcruz knows the fight Wisconsin is up against on the federal level and knows our state needs a strong, proven leader as governor to fight against Bidenflation and for our pro-life and pro-2nd Amendment values,” Kleefisch tweeted, linking to a Fox News story about Cruz’s announcement. 

The Texas Republican’s endorsement puts him at odds with Trump, who has already endorsed candidate Tim Michels (R), an Army veteran and businessman who’s described himself as a “conservative outsider.”

The former president is holding a rally on Aug. 5 in support of Michels and his other endorsed candidates in Wisconsin. 

Sen. Ron Johnson (R-Wis.), who has also received Trump’s endorsement, has said he will not attend the rally after citing the former president’s support of the gubernatorial candidate.

“Because this event supports one of the Republican gubernatorial candidates, I will not be attending. I do not endorse candidates in contested primaries. Instead I rely on the good judgement of Republican voters to choose our candidates and will be fully supportive of those who win their primary elections,” Johnson said in a statement on Tuesday.

While Cruz has also endorsed candidates Trump has backed — such as Harriet Hageman, who is going head-to-head with Rep. Liz Cheney in Wyoming’s Aug. 16 Republican primary — his endorsement demonstrates he is also willing to stray from Trump.

Cruz has been considered a possible 2024 presidential candidate, though he has made no official announcement. 

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FDA clears additional monkeypox vaccines from Denmark plant

Federal regulators Wednesday said they have approved the use of additional monkeypox vaccines manufactured in Denmark, clearing the way for nearly 800,000 doses to be shipped to states. 

The Food and Drug Administration (FDA) said it finished its inspection of Bavarian Nordic’s “fill and finish” plant in Denmark, a facility where the vaccine is formulated and filled into vials. The company makes Jynneos, the only FDA-approved vaccine to treat monkeypox.

“The expedited inspection and approval by FDA of Bavarian Nordic’s fill-and-finish capabilities means that an additional 786,000 doses of vaccine are now available for use in the U.S.,” Health and Human Services Secretary (HHS) Xavier Becerra said in a statement.

“HHS is working to make these doses available to states and jurisdictions as soon as possible to fulfill their needs and will announce allocations tomorrow,” Becerra said.

The move comes as health officials face waves of criticism from lawmakers and patient advocates for what they claim is a slow response to the monkeypox outbreak.

The U.S. owns more than a million doses that have been sitting at the facility in Denmark, awaiting FDA approval. While the plant had previously been approved by European authorities, the FDA has different standards. Officials said they expedited the inspection once it became clear there was a public health need for the vaccine.

In anticipation of finishing the inspection of the plant, FDA recently began shipping some doses to staging sites in states.

“With this supplement approval, those manufactured doses may now be further distributed and administered. Additional doses manufactured at this plant can help address the need for this vaccine moving forward,” FDA said on Twitter. 

Patients have been clamoring for scarce vaccine doses, and major cities like New York and Washington, D.C., have begun prioritizing giving people only the first of two doses in order to maximize the available product. 

Nearly 3,600 cases have been reported in the U.S., according to the Centers for Disease Control and Prevention, including 439 on Monday, the highest one-day total to date.

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David Joyce elected new chair of Republican Governance Group

Rep. David Joyce (R-Ohio) was elected chairman of the Republican Governance Group, a caucus of moderate House Republicans, in a unanimous vote on Wednesday.

“I certainly want to work with the consensus of our members to get to a working majority because that’s what we want to do, is not just be in the majority — we want a majority that actually gets things accomplished,” Joyce said after the Wednesday meeting.

Joyce has been in Congress since 2013. He sits on the powerful House Appropriations Committee and is ranking member on its Interior, Environment, and Related Agencies Subcommittee.

Rep. John Katko (R-N.Y.) announced last week that he would step down as chairman of the caucus that he had led since 2017, which was formerly known as the Tuesday Group, in order to provide for a smooth transition. He is not running for reelection and will leave Congress at the end of the year.

Katko threw his support behind Joyce, who ran for the position unopposed, last week.

Rep. Jamie Herrera Beutler (R-Wash.) was elected to another term as vice chair, and Rep. Blake Moore (R-Utah) was also elected as a vice chair, replacing Rep. Fred Upton (R-Mich.), who is also not running for reelection.

While running for the position, Joyce said he wanted to establish the caucus as commonsense dealmakers critical to effective governing.

In Joyce’s first meeting as chair on Wednesday, he welcomed House Minority Leader Kevin McCarthy (R-Calif.), who listened in on the meeting and discussed the “Commitment to America” platform that House Republicans plan to release ahead of the midterm elections.

“I think he’s very impressive,” McCarthy said of Joyce. “Look at his background for being the prosecutor and you look at his ability to policy, to move bills. He’s strong on his issues. He’s not afraid to debate them. I think he’s going to make the group even stronger with his leadership.”

The caucus of 46 moderate Republicans may grow in influence in the next Congress if the midterm election cycle is favorable to the GOP, particularly if Republicans keep and win the kinds of swing districts that tend to produce more ideologically moderate Republicans members. The National Republican Congressional Committee is targeting a large number of currently Democratic-held districts that President Biden won, many by more than 10 points.

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Judge: Bannon can argue to throw out contempt charges after conviction

A federal judge on Wednesday said he would give Steve Bannon’s lawyers an opportunity to argue for the dismissal of criminal contempt of Congress charges on which the former Trump White House adviser was convicted by a jury last week.

U.S. District Judge Carl Nichols denied Bannon’s motion for an outright acquittal on the charges but said in a brief order Wednesday that he would allow the defense team to further argue their motion to dismiss the indictment after they were prevented from calling members of the House Jan. 6 Select Committee to testify at last week’s trial.

Nichols said he “would benefit from further briefing” on the issue and ordered Bannon’s lawyers to submit a filing by August 5.

The judge had previously denied the defense team’s motion to allow testimony from all nine members of the select committee at trial. But he expressed reservations about the decision and indicated in recent weeks that he would be willing to revisit the matter.

The constitution’s Speech or Debate Clause generally shields members of Congress from being compelled to testify in court proceedings. Bannon’s lawyers argued earlier this month that immunity is in tension with Bannon’s constitutional rights as a criminal defendant in a case over whether he unlawfully defied a committee subpoena.

“Mr. Bannon respectfully argues that because [select committee members] set in motion the prosecution of Mr. Bannon, they should not have been allowed to retreat behind the Speech or Debate Clause when evidence of their actions (and their testimony concerning the same) are directly relevant to Mr. Bannon’s charges, and essential to securing his Fifth and Sixth Amendment rights,” Bannon’s lawyers wrote in a filing earlier this month.

The defense team has argued Bannon was denied a fair trial when Nichols foreclosed the possibility of subpoenaing lawmaker testimony. They declined to call any witnesses to testify before a jury last week.

The jury convicted Bannon on two contempt counts after hearing from just two witnesses during the week-long trial. They spent less than three hours deliberating before reaching a verdict on Friday.

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