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IVF is a slam-dunk issue for Democrats. Abortion may not be

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SPARE A THOUGHT for Republican staffers who had to explain the female reproductive system to their bosses this week. Following a decision by Alabama’s Supreme Court, which led to the halting of fertility treatments in several clinics, some showed just how little they understood about baby-making. Tommy Tuberville, an Alabama senator, declared he was “all for” the ruling because “we need to have more kids”. In vitro fertilisation (IVF) in fact helps make more kids. Greg Abbott, Texas’s governor, wondered whether IVF created “one, ten, 100, 1,000” embryos (between zero and a dozen per cycle is common).

Patients in Alabama have become the latest collateral damage in America’s abortion wars. The ruling on February 16th found that embryos created by IVF and kept in “cryogenic nurseries” count as “extrauterine children”, and thus as people under state law. Politically this seems a gift to Democrats. Everything from the judgment’s scripture-heavy language, to jubilant pro-lifers declaring it a “tremendous victory for life”, and the fumbled responses by Republicans, helped paint Republicans as a radical, woman-hating party.

Democrats put the blame squarely on Donald Trump and his Supreme Court picks. “They came for abortion first. Now it’s IVF and next it’ll be birth control,” warned Hillary Clinton, a former secretary of state. Hastily the National Republican Senatorial Committee rushed out a memo instructing all Senate candidates to oppose any restrictions on IVF and “align with the public’s overwhelming support”. Several of them had previously co-sponsored bills—such as the Life At Conception Act—which, by in effect codifying embryos as people, could have had a similar impact on IVF .

Nearly two years after the Supreme Court overturned Roe v Wade, returning the issue of abortion to states, Republicans continue to struggle with the consequences of their victory. Conventional wisdom is that any talk about abortion is a win for Democrats. The immediate aftermath to Alabama’s ruling certainly suggests so. But it might not be quite that simple.

After an uncharacteristic pause, Mr Trump tried to end the fumbling and declared his resounding support for women, IVF and “Beautiful Babies”. “We want to make it easier for mothers and fathers to have babies, not harder!” he wrote on Truth Social, his social-media platform. This tone comes on the heels of his privately floating a federal abortion ban at 16 weeks (though states could go further). If that is Mr Trump’s position it would be a more moderate one than any Republican presidential nominee has held since the 1970s.

Since Roe was overturned, the total number of abortions in America has remained stable. But there has been a big shift in where they have been performed. A new report by the Society of Family Planning, a non-profit, estimated that the 14 states with strict abortion bans had 120,930 fewer abortions over the past 15 months than over a similar period before the end of Roe. American fertility doctors predict that a similar “regulatory migration” wave could follow for IVF patients if state courts start cracking down on fertility treatment. That is what has happened in Europe, where stricter embryo rules in countries like Germany and Italy helped make Spain the largest IVF market in Europe.

IVF may be the clearest example yet of pro-life buyer’s remorse. The vast majority of Americans support a procedure that has helped realise dreams for couples from the Obamas to the Pences. This is not a fight Republicans want. Yet it is one of several real-world questions that pro-lifers will now increasingly need to confront. The questions around fertility treatment are not just whether IVF is ok. They include whether embryos can be biopsied to check for abnormalities, how to deal with embryos left in freezers after death or divorce and what to do with surplus embryos. Republicans may be lining up to pledge their unconditional support to IVF, but none has (yet) confronted the corollary—the related destruction of embryos along the way.

And yet Democrats should not assume that the abortion debate can only win them votes. A 16-week ban is not as radical or unpopular as it may sound: 96% of abortions happen before 16 weeks and that cut-off would put America in line with many European countries (although with fewer medical exceptions after 16 weeks). Whereas a majority of Americans (69%) are in favour of abortion in the first trimester, this drops to a minority in the second trimester (37%) and the third (22%), according to Gallup. Americans are not that different from Europeans—more conservative but mostly in favour of some access to abortion.

The Democratic playbook is: remind voters that Republicans took away abortion and promise to bring back Roe. In swing states with potential ballot initiatives planned for election day, such as Arizona, this could just make the difference. The Democratic National Committee paid for dozens of billboards across swing states this week, tying Mr Trump to the loss of IVF and asking what could be next. However, Democrats need to tread more carefully than they may realise. On abortion at least, Joe Biden’s extreme wing has become bigger than Mr Trump’s. Whereas 24% of Republicans believe abortion should always be illegal, 44% of Democrats think it should be legal during the third trimester. That is out of step with both American and European public opinion. The “abortion positivity movement” on the left is also a uniquely American phenomenon.

Yet all of this posturing has little to do with actual policy. Mr Trump’s 16-week ban is as unlikely to materialise as Mr Biden’s promise to codify Roe, says Mary Ziegler, a legal historian at the University of California, Davis. More immediately, the Supreme Court cases to watch will be on the availability of the abortion drug mifepristone in March, followed in April by the question of whether the Emergency Medical Treatment and Labour Act protects pregnant women with health-endangering emergencies against state abortion bans.

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Accounting

Business Transaction Recording For Financial Success

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Business Transaction Recording For Financial Success

In the world of financial management, accurate transaction recording is much more than a routine task—it is the foundation of fiscal integrity, operational transparency, and informed decision-making. By maintaining meticulous records, businesses ensure their financial ecosystem remains robust and reliable. This article explores the essential practices for precise transaction recording and its critical role in driving business success.

The Importance of Detailed Transaction Recording
At the heart of accurate financial management is detailed transaction recording. Each transaction must include not only the monetary amount but also its nature, the parties involved, and the exact date and time. This level of detail creates a comprehensive audit trail that supports financial analysis, regulatory compliance, and future decision-making. Proper documentation also ensures that stakeholders have a clear and trustworthy view of an organization’s financial health.

Establishing a Robust Chart of Accounts
A well-organized chart of accounts is fundamental to accurate transaction recording. This structured framework categorizes financial activities into meaningful groups, enabling businesses to track income, expenses, assets, and liabilities consistently. Regularly reviewing and updating the chart of accounts ensures it stays relevant as the business evolves, allowing for meaningful comparisons and trend analysis over time.

Leveraging Modern Accounting Software
Advanced accounting software has revolutionized how businesses handle transaction recording. These tools automate repetitive tasks like data entry, synchronize transactions in real-time with bank feeds, and perform validation checks to minimize errors. Features such as cloud integration and customizable reports make these platforms invaluable for maintaining accurate, accessible, and up-to-date financial records.

The Power of Double-Entry Bookkeeping
Double-entry bookkeeping remains a cornerstone of precise transaction management. By ensuring every transaction affects at least two accounts, this system inherently checks for errors and maintains balance within the financial records. For example, recording both a debit and a credit ensures that discrepancies are caught early, providing a reliable framework for accurate reporting.

The Role of Timely Documentation
Prompt transaction recording is another critical factor in financial accuracy. Delays in documentation can lead to missing or incorrect entries, which may skew financial reports and complicate decision-making. A culture that prioritizes timely and accurate record-keeping ensures that a company always has real-time insights into its financial position, helping it adapt to changing conditions quickly.

Regular Reconciliation for Financial Integrity
Periodic reconciliations act as a vital checkpoint in transaction recording. Whether conducted daily, weekly, or monthly, these reviews compare recorded transactions with external records, such as bank statements, to identify discrepancies. Early detection of errors ensures that records remain accurate and that the company’s financial statements are trustworthy.

Conclusion
Mastering the art of accurate transaction recording is far more than a compliance requirement—it is a strategic necessity. By implementing detailed recording practices, leveraging advanced technology, and adhering to time-tested principles like double-entry bookkeeping, businesses can ensure financial transparency and operational efficiency. For finance professionals and business leaders, precise transaction recording is the bedrock of informed decision-making, stakeholder confidence, and long-term success.

With these strategies, businesses can build a reliable financial foundation that supports growth, resilience, and the ability to navigate an ever-changing economic landscape.

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Economics

A protest against America’s TikTok ban is mired in contradiction

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AS A SHUTDOWN looms, TikTok in America has the air of the last day of school. The Brits are saying goodbye to the Americans. Australians are waiting in the wings to replace banished American influencers. And American users are bidding farewell to their fictional Chinese spies—a joke referencing the American government’s accusation that China is using the app (which is owned by ByteDance, a Chinese tech giant) to surveil American citizens.

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Economics

Home insurance costs soar as climate events surge, Treasury Dept. says

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Firefighters battle flames during the Eaton Fire in Pasadena, California, U.S., Jan. 7, 2025.

Mario Anzuoni | Reuters

Climate-related natural disasters are driving up insurance costs for homeowners in the most-affected regions, according to a Treasury Department report released Thursday.

In a voluminous study covering 2018-22 and including some data beyond that, the department found that there were 84 disasters costing $1 billion or more, excluding floods, and that they caused a combined $609 billion in damages. Floods are not covered under homeowner policies.

During the period, costs for policies across all categories rose 8.7% faster than the rate of inflation. However, the burden went largely to those living in areas most hit by climate-related events.

For consumers living in the 20% of zip codes with the highest expected annual losses, premiums averaged $2,321, or 82% more than those living in the 20% of lowest-risk zip codes.

“Homeowners insurance is becoming more costly and less accessible for consumers as the costs of climate-related events pose growing challenges to both homeowners and insurers alike,” said Nellie Liang, undersecretary of the Treasury for domestic finance.

The report comes as rescue workers continue to battle raging wildfires in the Los Angeles area. At least 25 people have been killed and 180,000 homeowners have been displaced.

Treasury Secretary Janet Yellen said the costs from the fires are still unknown, but noted that the report reflected an ongoing serious problem. During the period studied, there was nearly double the annual total of disasters declared for climate-related events as in the period of 1960-2010 combined.

“Moreover, this [wildfire disaster] does not stand alone as evidence of this impact, with other climate-related events leading to challenges for Americans in finding affordable insurance coverage – from severe storms in the Great Plans to hurricanes in the Southeast,” Yellen said in a statement. “This report identifies alarming trends of rising costs of insurance, all of which threaten the long-term prosperity of American families.”

Both homeowners and insurers in the most-affected areas were paying in other ways as well.

Nonrenewal rates in the highest-risk areas were about 80% higher than those in less-risky areas, while insurers paid average claims of $24,000 in higher-risk areas compared to $19,000 in lowest-risk regions.

In the Southeast, which includes states such as Florida and Louisiana that frequently are slammed by hurricanes, the claim frequency was 20% higher than the national average.

In the Southwest, which includes California, wildfires tore through 3.3 million acres during the time period, with five events causing more than $100 million in damages. The average loss claim was nearly $27,000, or nearly 50% higher than the national average. Nonrenewal rates for insurance were 23.5% higher than the national average.

The Treasury Department released its findings with just three days left in the current administration. Treasury officials said they hope the administration under President-elect Donald Trump uses the report as a springboard for action.

“We certainly are hopeful that our successors stay focused on this issue and continue to produce important research on this issue and think about important and creative ways to address it,” an official said.

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