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U.S. economy expands at a surprisingly strong 4.3% annual rate in the third quarter

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The U.S. economy expanded at a surprisingly strong 4.3% annual rate in the third quarter as consumer spending, exports and government spending all grew.

U.S. gross domestic product from July through September — the economy’s total output of goods and services — rose from its 3.8% growth rate in the April-June quarter, the Commerce Department said Tuesday in a report delayed by the government shutdown. Analysts surveyed by the data firm FactSet forecast growth of 3% in the period.

However, inflation remains higher than the Federal Reserve would like. The Fed’s favored inflation gauge — called the personal consumption expenditures index, or PCE — climbed to a 2.8% annual pace last quarter, up from 2.1% in the second quarter.

Excluding volatile food and energy prices, so-called core PCE inflation was 2.9%, up from 2.6% in the April-June quarter.

Consumer spending, which accounts for about 70% of U.S. economic activity, rose to a 3.5% annual pace last quarter, up from 2.5% in the April-June period.

Within the GDP data, a category that measures the economy’s underlying strength grew at a 3% annual rate from July through September, up slightly from 2.9% in the second quarter. This category includes consumer spending and private investment, but excludes volatile items like exports, inventories and government spending.

Exports grew at an 8.8% rate, while imports, which subtract from GDP, fell another 4.7%.

Tuesday’s report is the first of three estimates the government will make of GDP growth for the third quarter of the year.

Outside of the first quarter, when the economy shrank for the first time in three years as companies rushed to import goods ahead of President Donald Trump’s tariff rollout, the U.S. economy has continued to expand at a healthy rate. That’s despite much higher borrowing rates the Fed imposed in 2022 and 2023 in its drive to curb the inflation that surged as the United States bounced back with unexpected strength from the brief but devastating COVID-19 recession of 2020.

Though inflation remains above the Fed’s 2% target, the central bank cut its benchmark lending rate three times in a row to close out 2025, mostly out of concern for a job market that has steadily lost momentum since Spring.

Last week, the government reported that the U.S. economy gained a decent 64,000 jobs in November but lost 105,000 in October. Notably, the unemployment rate rose to 4.6% last month, the highest since 2021.

The country’s labor market has been stuck in a “low hire, low fire” state, economists say, as businesses stand pat due to uncertainty over Trump’s tariffs and the lingering effects of elevated interest rates. Since March, job creation has fallen to an average 35,000 a month, compared to 71,000 in the year ended in March. Fed Chair Jerome Powell has said that he suspects those numbers will be revised even lower.

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Republished with permission of The Associated Press.



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Ron DeSantis appoints new member to Florida Transportation Commission

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Two others were reappointed.

Gov. Ron DeSantis has appointed a new member of the Florida Transportation Commission (FTC), and reappointed two others, he announced this week.

DeSantis appointed Thomas C. Nash II to the panel that oversees transportation policy for Florida. DeSantis reappointed Ronald Howse and Russell Roberts to additional terms.

The FTC was founded in 1987 to provide citizen oversight of the Florida Department of Transportation (FDOT). The panel also includes expanded influence over the state’s expressway authorities and regional transportation authorities. There are nine members on the FTC, each serving four terms. The board is required to meet at least four times a year, though it convenes usually more often each year and the FTC’s geographic meeting locations rotate around the state.

Nash brings to the board experience from an extensive career as a lawyer in the Tampa area and beyond. He is the Chair and Shareholder of Macfarlane Ferguson and McMullen headquartered on the Gulf Coast.

Nash is no stranger to public and community service. He has served as Chair of the Morton Plant Mease Health Care  Foundation and is a member of the Morton Plant Mease Hospital Board of Trustees.

Nash obtained his bachelor’s degree from University of the South and his law degree from Samford University.

Howse returns to the FTC as he remains owner and CEO of the Real Deal Development Group, a real estate development firm based on the Space Coast specializing in industrial properties. He’s also Principal of Howseco. Howse is also a member of the Board of Trustees for Eastern Florida State College and he sits on the St. Johns River Water Management District board.

Howse holds a bachelor’s degree from the University of Central Florida.

Roberts serves as a Senior Policy Advisor for the U.S. Federal Railroad Administration. He also previously served as Chief of Staff for former U.S. Rep. John Mica, a Republican who held the Florida’s 7th Congressional District, which represents much of Volusia County and stretches inland to several counties in Central Florida. Roberts ran for the seat himself in 2022, but lost in the Republican Primary.

Roberts was also the Vice President of Government Affairs for Brightline Trains Florida. He also sat on the Board of Directors for Florida TaxWatch, one of the highest-profile conservative government watchdog groups in the state. He also served as a member of the American Public Transportation Association.



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Ben Sasse announces stage 4 pancreatic cancer diagnosis

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Ben Sasse, a former U.S. Senator from Nebraska and onetime President of the University of Florida (UF), has been diagnosed with metastasized, stage 4 pancreatic cancer.

He announced the diagnosis in a statement posted to X, saying that the disease is terminal and he is now “on the clock.”

“This is a tough note to write, but since a bunch of you have started to suspect something, I’ll cut to the chase: Last week I was diagnosed with metastasized, stage-four pancreatic cancer, and am gonna die,” Sasse said.

He described advanced pancreatic cancer as “a death sentence,” while also reflecting that mortality is a universal condition.

“I already had a death sentence before last week too — we all do,” he said.

Sasse, 53, has long been a distinctive figure in American public life, blending conservative politics with academic training and an emphasis on institutions, civic culture and constitutional norms.

Raised in Plainview, Nebraska, he earned degrees from Harvard and Yale, completing a doctorate in history with a focus on American political development. He served in former President George W. Bush’s administration as Assistant Secretary of Health and Human Services for Planning and Evaluation, focusing on long-term entitlement and demographic issues. He later became President of Midland University in Nebraska.

Sasse entered the U.S. Senate in 2015 after winning Nebraska’s 2014 race as an outsider candidate critical of Washington dysfunction. He became nationally prominent for his willingness to publicly challenge President Donald Trump, despite voting conservatively on most policy matters.

Notably, he was among a small group of Republican Senators who voted to convict Trump during impeachment proceedings, a stance that made him a polarizing figure within his party.

In 2022, Sasse resigned from the Senate to become UF President, returning to academia amid intense debate over politics and public higher education. He stepped down from the role in 2023, citing health-related reasons involving his family, and largely withdrew from public life.

After his departure, it was revealed that while President, Sasse tripled his office’s spending, with most of it covering lucrative consulting contracts and high-paying positions for GOP allies.

Sasse wrote Tuesday that his time away from politics allowed his family to establish “new rhythms.”

Much of his cancer announcement focused on his wife, Melissa, and their three children. He described milestones including his daughter Corrie’s commissioning into the U.S. Air Force and flight training, his daughter Alex’s early college graduation while teaching advanced science courses, and his 14-year-old son Breck learning to drive.

“This is hard for someone wired to work and build,” Sasse said, “but harder still as a husband and a dad.” He praised his siblings and close friends, quoting one who told him, “Sure, you’re on the clock, but we’re all on the clock.”

He called death “a wicked thief,” but emphasized gratitude for the time he has.

The statement was deeply rooted in Sasse’s Christian faith. While acknowledging the severity of his diagnosis, Sasse said he plans to pursue treatment and is not surrendering quietly, citing advances in immunotherapy and adding, “I’m not going down without a fight.”



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Gus Bilirakis, Scott Franklin back George Moraitis for CD 23

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Former state Rep. George Moraitis’ campaign to flip Florida’s 23rd Congressional District red is gaining the backing of two sitting Congressmen from the Sunshine State.

Republican U.S. Reps. Gus Bilirakis and Scott Franklin are getting behind Moraitis, who hopes to secure the GOP nomination and supplant Democratic U.S. Rep. Jared Moskowitz next year.

In statements provided to the Moraitis campaign, both highlighted shared ties they have with the candidate.

“George and I share an appreciation for the values instilled by our Greek heritage — faith, family, hard work, and service to community and country. George has lived those values throughout his career, from his service in uniform to his commitment to principled, conservative leadership,” Bilirakis said. “Our state needs leaders who show up, do the work, and put principle ahead of politics. George Moraitis is that kind of leader, and I am proud to support his campaign.”

Franklin noted that both he and Moraitis are Navy veterans and U.S. Naval Academy graduates.

“George and I share a deep commitment to service, integrity, and mission over politics. George brings those values to public service, along with a strong dedication to fiscal responsibility, national security, and putting hardworking families first,” he said. “In Congress, George will defend our freedoms, support those who serve, and ensure taxpayer dollars are spent wisely. George Moraitis is the clear choice for District 23, and I am honored to endorse his campaign.”

Born and raised in CD 23 — which spans a northern, mostly coastal area in Broward and a section of South Palm Beach County — Moraitis graduated from the University of Florida School of Law and practices real estate law in Fort Lauderdale, where he and his wife, former Fort Lauderdale City Commissioner Heather Moraitis, raised two daughters.

He served eight in the Florida House, representing many of the same areas he hopes to represent in Washington, D.C.

In October, his campaign grew his war chest to $485,000. He also carries endorsements from U.S. Reps. Greg Steube, Mike Haridopolos and Jake Elzzey, plus a slew of current and former locally elected officials.

Moraitis faces a crowded Republican Primary that includes six other GOP hopefuls, including Boca Raton Mayor Scott Singer and counterterrorism expert Joe Kaufman, who lost to Moskowitz by 6 points last year. Moskowitz’s war chest grew by $2.16 million in the 2024 cycle.

The Cook Political Report rates the 2026 CD 23 race as leaning Democratic (D+2). That’s the most competitive of any contest in the state, according to Cook. It could become even more competitive under a potential redistricting plan by Gov. Ron DeSantis — a noted cross-aisle ally of Moskowitz’s — and Republican legislative leaders, which may shift the district further north into Palm Beach.



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