Letters from an American March 28, 2025
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Mar 29, 2025 The podcast explores the sharp decline in the stock market, linking it to rising consumer prices and shaken confidence. It highlights significant governmental changes, including reforms impacting Social Security and troubling resignations due to mismanagement. The discussion shifts to a heated town hall meeting in Florida, where controversial viewpoints clash, and endorsements from Trump and Elon Musk hang in the balance. Tensions rise as concerns over election integrity loom, especially regarding the Wisconsin Supreme Court race.
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Wall Street Losses
- Wall Street experienced significant losses, with the S&P 500 dropping 2% and the Dow Jones falling 1.7%.
- These losses follow a drop in consumer confidence and rising inflation, causing concern among economists.
Social Security System Migration
- Elon Musk's Department of Government Efficiency (DOGIE) plans to quickly migrate the Social Security Administration's computer system from COBOL to a new system using AI.
- Experts worry about potential negative impacts on benefit distribution, especially given current long wait times.
Beyer's SSA Call
- Representative Don Beyer called the Social Security Administration and experienced a wait time of over two hours.
- The system then hung up on him, highlighting the current challenges with the SSA.