🎈Axios PM: Balloon revelations

Plus: New Disney movies | Thursday, February 09, 2023

Open in app View in browser   Presented By American Edge Project   Axios PM By Mike Allen · Feb 09, 2023 Good Thursday afternoon. Today's PM — edited by Kate Nocera — is 568 words, a 2-min. read. Thanks to Sheryl Miller for the copy edit.     1 big thing: What the balloon could do China's spy balloon flies above Charlotte, N.C., on Saturday. Photo: Peter Zay/Anadolu Agency via Getty Images The Chinese spy balloon was outfitted with "multiple antennas" and other equipment "clearly for intelligence surveillance," Axios' Ivana Saric writes from a statement today by a State Department spokesperson. China has flown similar balloons over more than 40 countries across five continents in the past, the statement said. Why it matters: The Chinese government has said it was a weather balloon. But the spokesperson said the equipment was "inconsistent" with such use. The antennas were designed to be "capable of collecting and geo-locating communications," the statement adds. It had solar panels big enough to produce sufficient power to "operate multiple active intelligence collection sensors." Officials are "confident" the balloon's manufacturer has a relationship with the Chinese military. The House passed a resolution today condemning China by a sweeping 419-0 — a rare bipartisan vote. "I've never seen a foreign nation adversary fly a reconnaissance aircraft that you could see from the ground with your own eyes," Rep. Michael McCaul (R-Texas) said before the vote. Go deeper: What we know about the balloon.     2. Roots of our financial blues Data: Gallup; Chart: Nicki Camberg/Axios High costs of living and last year's steep drop in stock prices are overshadowing record-low unemployment — leaving Americans bummed about the economy, Emily Peck writes for Axios Markets. Why it matters: President Biden touted sunny signs about his economic record in this week's State of the Union. But that's a tough sell — especially across the aisle. In a new survey, 50% of Americans told Gallup they're financially worse off now than last year — the most since 2009, amid the Great Recession. 61% of Republicans said they were financially worse off this year, compared to 37% of Democrats. The numbers also skew along income lines: 61% of lower-income Americans said they were worse off — compared to 49% of those in the middle and 43% of high-income earners. Between the lines: Part of this is "pandemic paranoia," as Axios' Hope King wrote recently. Americans are still getting over one of the most uncertain eras of our lifetimes. Share this story.     A message from American Edge Project Ensuring America wins the technology innovation race against China     Much more must be done to check China's growing tech influence and strengthen America's competitive edge. Importantly, Washington must renew its focus on promoting U.S. innovation and championing our domestic private sector innovators. See how we win the innovation race against China.     3. Catch me up Mehmet Nasir Duran, 67, watches today as debris is removed from a building where five of his family members are trapped in Nurdagi, southeastern Turkey. Photo: Petros Giannakouris/AP The death toll from this week's quakes in Syria and Turkey passed 20,000, as hope for finding survivors trapped under buildings began to fade. Go deeper. Rep. Angie Craig (D-Minn.) was assaulted in the elevator of her apartment building in Northeast D.C. near Union Station. There is no evidence the incident was politically motivated, her chief of staff said. Go deeper.     4. 🎞️ 1 film thing: Disney teases 3 sequels "Toy Story 4." Photo: Disney/Pixar via AP Disney is working on sequels for "Toy Story," "Frozen" and "Zootopia" — three huge hits — as the entertainment powerhouse finds its footing under newly returned CEO Bob Iger, AP reports. Why it matters: Iger said on an earnings call yesterday that the future films are an example of "leaning into our unrivaled brands." Release dates weren't given. But here's what's in the works: "Toy Story" — the first computer-animated feature film — debuted from Pixar in 1995. The most recent sequel, "Toy Story 4" was released in 2019. A prequel, "Lightyear," was out last year. The original "Frozen," out in 2013, won the Academy Award for best animated feature film. "Frozen II," was in theaters in 2019. "Zootopia" has yet to have a sequel. The original came out in 2016. What's next: Disney's latest Marvel movie, "Ant-Man and the Wasp: Quantumania," opens Feb. 17. Watch the trailer.     A message from American Edge Project We must take China's tech and innovation ambitions seriously     The political, economic and security implications of China outpacing the United States are profound. If they succeed, America may be forced to rely on foreign platforms in national defense, infrastructure and communications. See what Congress can do to strengthen America's tech edge.   Are you a fan of this email format? Your essential communications — to staff, clients and other stakeholders — can have the same style. Axios HQ, a powerful platform, will help you do it.   Axios thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. To stop receiving this newsletter, unsubscribe or manage your email preferences.   Was this email forwarded to you? Sign up now to get Axios in your inbox.   Follow Axios on social media: