Morning News: Vilsack On Drought Assistance, Young Adults And Homeownership, Middle Class Decline

UPS Cuts 2012 Forecast as Slowing Economy Press Profit – “UPS, an economic bellwether because it moves goods ranging from financial documents to pharmaceuticals, projects the U.S. economy will expand 1 percent in the rest of the year. “ Bloomberg

Agriculture secretary: House’s most important job is to pass drought assistance in farm bill – “Programs authorized in the 2008 farm bill have expired and won’t be renewed unless the House approves a bill passed by the Senate. Vilsack pushed the House to consider the bill, which has passed out of its agriculture committee, before its August vacation.” Associated Press

Young adults in Idaho weigh tradeoffs of home ownership – “People in their 20s and 30s have made up the majority of home buyers for decades. But some economists say today’s Millennials may have cooled to the idea of homeownership because of the recession, a slow recovery, uncertainty about the future and financial burdens such as student loans.” Idaho Statesman

A Closer Look at Middle Class Decline – “For the first time since the Great Depression, middle-class families have been losing ground for more than a decade. They, and the poor, have struggled particularly badly since the financial crisis led to a global recession in 2008.” The New York Times

Potato Disease Crops Up in Area Fields – “In the southwestern U.S., zebra chip has led to millions of dollars in lost crops. [I]t’s hard to predict the possible economic impact in south-central Idaho.” Times-News