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CHECK OUT: Learn at Your Own Pace! Our Flexible Online Course allows you to fit copywriting skills development around your busy schedule. Enroll Now! Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the Stock Market. The Nigeria Export Promotion Council (NEPC) has ramped up efforts to promote local rice production and eliminate the annual $480 million expenditure on importing approximately three million tonnes of rice. This was revealed by the NEPC Chief Executive Officer, Mrs. Nonye Ayeni, during a one-day technical support workshop for rice farmers and processors held in Lokoja. FG empowers farmers to curb imports Over the past months, data from the National Bureau of Statistics (NBS) on selected food prices have consistently shown a steady increase in the prices of both locally produced and imported rice across the country. PAY ATTENTION: Follow us on Instagram - get the most important news directly in your favourite app! Represented by Mr. Aliu Sadiq, Deputy Director of Policy and Strategy at NEPC Abuja , Ayeni highlighted that the council has begun implementing strategies to reduce Nigeria's reliance on imported rice by enhancing local production. Read also Customs alerts Nigerians of plan to auction abandoned vehicles, containers at ports She emphasized that the focus on rice production is well-founded, given that rice is a staple food widely consumed across all six geopolitical zones and socio-economic classes in Nigeria. According to The Nation, Ayeni urged participants to adopt the new skills and best practices shared during the workshop to improve their farming activities. Ayeni explained that the workshop, along with other initiatives introduced by the NEPC and collaborating agencies, was a direct response to the World Bank's recent concerns about food insecurity affecting Sub-Saharan African nations, including Nigeria. She said: “The Federal Government of Nigeria under the renewed hope agenda has demonstrated its commitment towards achieving food sufficiency in Nigeria by addressing critical challenges facing farmers such as security, infrastructure, forex and inputs for increased production.” She reaffirmed the NEPC's commitment to providing essential support to small and medium-sized enterprises (SMEs), the council's main beneficiaries. Read also FG launches N20bn loan scheme for Nigerians to acquire Innoson, other locally-assembled vehicles She encouraged participants to leverage the workshop as an opportunity to enhance their knowledge and improve their skills in rice production and processing. FG announces subsidized rice Meanwhile, Legit.ng earlier reported that the federal government announced the required documents to access subsidized 50kg bags of rice for N40,000. This initiative aims to alleviate the food crisis and ensure that essential staples are available to those in need. Citizens must present their National Identification Number (NIN), an ID card, and an ATM card for registration and payment, followed by a verification process. PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy! Source: Legit.ng
Cars, computers, technology, aircraft and oil — as a nation, we export so many things that are critical to life. Our most important exports, however, are our values. But intolerance, amplified by our caustic digital culture, has made protecting religious liberty at home more challenging. The incoming Trump administration can help quell domestic forces seeking to attack our first freedom. President-elect Donald Trump’s commitment to dismantling government censorship and cancel culture provides this country with the moral footing to reinforce religious freedom again at home and around the world. Our founders understood the importance of religious liberty to the fabric of the republic. Religious liberty is the bedrock upon which free speech and the Bill of Rights are built. Without the ability to worship God as you see fit, without fear of oppression from the state, true free speech simply cannot exist. In recent times, a culture of fear has been driven by powerful voices in media, Hollywood and the left-wing political ecosystem, as well as the shadowy work of the unelected, unaccountable bureaucracy. In the last five years, Americans have been horrified by the demonizing and ridiculing of people of faith. It goes far beyond the FBI’s covert efforts to infiltrate and monitor Catholic parishes. The Biden administration and left-wing governors openly and notoriously attempted to eviscerate the sincerely held religious beliefs of millions of Americans to force them, under penalty of losing their livelihoods, to take the COVID-19 jabs that the government knew did not prevent transmission or infection. Pro-life demonstrators have received harsher punishments, including years in jail, for blocking abortion centers, while Black Lives Matters rioters have walked free. Antisemitic demonstrations have been tolerated on hundreds of college campuses. Hate crimes against Jews have skyrocketed. The Associated Press recently ran a story based on comments from one source suggesting that Pete Hegseth, Mr. Trump’s nominee for defense secretary, should be considered “alt-right” or an “insider threat” because of his tattoos of the Jerusalem Cross and the phrase “Deus Vult” (Latin for “God wills it”). The AP, perhaps not surprisingly, didn’t include any sources to rebut claims that those symbols connote White supremacy. For nearly a thousand years, the Jerusalem Cross has symbolized the five wounds of Christ or, alternatively, the four evangelists and Christ himself. It is also a symbol of the Holy Land and worn by the Order of the Holy Sepulchre of Jerusalem, a lay order of knighthood under the protection of the pope. “Deus Vult” or “Deus lo Vult” is also an ancient motto of the order and associated with protection of the people and places of the greater Holy Land. It’s just another example of the pervasiveness and normalization of anti-Christian and anti-Catholic bigotry. The domestic situation may be perilous, but the global state of religious liberty, in the absence of U.S. leadership, is even more troubling. According to the Religious Freedom Institute, in three of the last four years, during the Biden administration, the number of nations where there is negative trajectory in terms of religious liberty has increased year over year, while those improving have consistently decreased. Antisemitic protests, riots and attacks have dramatically increased globally since the Oct. 7, 2023, massacre in Israel. According to Open Doors, more than 365 million Christians in the world, or 1 in 7, face high levels of religious persecution. The human cost of attacks by Muslims against other factions within their own religion is incalculable. In China, it is illegal for children under 18 to attend church; government registration for worship is required, and digital persecution is widespread as a component of the country’s social credit system. Churches are monitored and can be shut down without warning. Religious intolerance globally matters because it has historically been a companion to democide and other aspects of the societal collapse that help breed authoritarianism. Integrating religious liberty benchmarks into our diplomacy is critical to global stability. The incoming Trump administration’s recommitment to religious liberty at home and abroad will provide assurance not only to Americans but also to billions around the world that this cornerstone of free and advanced societies is not fading but rather affirmed. Advancing religious freedom isn’t about military or diplomatic adventurism. It recognizes the indisputable truth that more tolerant societies are freer, more peaceful and more resistant to communism and authoritarianism, a growing global calamity. Leftists in America have a perverted view of freedom and religion, consistently espousing that we should be free from religion. If we do that, we shall neither enjoy freedom nor religion. Getting the border under control, cutting taxes and reducing the deficit are all critically important goals for President-elect Trump. We should pray, however, that our first freedom again be revered, celebrated and exported as well. Copyright © 2024 The Washington Times, LLC. . Click to Read More and View Comments Click to HideCardinals' Kyler Murray faces Patriots for 1st time since his ACL injury against them 2 years ago
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The U.S. Navy is transforming a costly flub into a potent weapon with the first shipborne hypersonic weapon, which is being retrofitted aboard the first of its three stealthy destroyers. The USS Zumwalt is at a Mississippi shipyard where workers have installed missile tubes that replace twin turrets from a gun system that was never activated because it was too expensive. Once the system is complete, the Zumwalt will provide a platform for conducting fast, precision strikes from greater distances, adding to the usefulness of the warship. The USS Zumwalt is seen at the Huntington Ingalls shipyard Nov. 21 in Pascagoula, Miss. “It was a costly blunder. But the Navy could take victory from the jaws of defeat here, and get some utility out of them by making them into a hypersonic platform,” said Bryan Clark, a defense analyst at the Hudson Institute. The U.S. has had several types of hypersonic weapons in development for the past two decades, but recent tests by both Russia and China have added pressure to the U.S. military to hasten their production. Hypersonic weapons travel beyond Mach 5, five times the speed of sound, with added maneuverability making them harder to shoot down. Last year, The Washington Post reported that among the documents leaked by former Massachusetts Air National Guard member Jack Teixeira was a defense department briefing that confirmed China had recently tested an intermediate-range hypersonic weapon called the DF-27. While the Pentagon previously acknowledged the weapon's development, it had not recognized its testing. One of the U.S. programs in development and planned for the Zumwalt is the “Conventional Prompt Strike." It would launch like a ballistic missile and then release a hypersonic glide vehicle that would travel at speeds seven to eight times faster than the speed of sound before hitting the target. The weapon system is being developed jointly by the Navy and Army. Each of the Zumwalt-class destroyers would be equipped with four missile tubes, each with three of the missiles for a total of 12 hypersonic weapons per ship. In choosing the Zumwalt, the Navy is attempting to add to the usefulness of a $7.5 billion warship that is considered by critics to be an expensive mistake despite serving as a test platform for multiple innovations. The USS Zumwalt is seen at the Huntington Ingalls shipyard Nov. 21 in Pascagoula, Miss. The Zumwalt was envisioned as providing land-attack capability with an Advanced Gun System with rocket-assisted projectiles to open the way for Marines to charge ashore. But the system featuring 155 mm guns hidden in stealthy turrets was canceled because each of the rocket-assisted projectiles cost between $800,000 and $1 million. Despite the stain on its reputation, the three Zumwalt-class destroyers remain the Navy’s most advanced surface warship in terms of new technologies. Those innovations include electric propulsion, an angular shape to minimize radar signature, an unconventional wave-piercing hull, automated fire and damage control and a composite deckhouse that hides radar and other sensors. The Zumwalt arrived at the Huntington Ingalls Industries shipyard in Pascagoula, Mississippi, in August 2023 and was removed from the water for the complex work of integrating the new weapon system. It is due to be undocked this week in preparation for the next round of tests and its return to the fleet, shipyard spokeswoman Kimberly Aguillard said. A U.S. hypersonic weapon was successfully tested over the summer and development of the missiles is continuing. The Navy wants to begin testing the system aboard the Zumwalt in 2027 or 2028, according to the Navy. The U.S. weapon system will come at a steep price. It would cost nearly $18 billion to buy 300 of the weapons and maintain them over 20 years, according to the Congressional Budget Office. Critics say there is too little bang for the buck. “This particular missile costs more than a dozen tanks. All it gets you is a precise non-nuclear explosion, some place far far away. Is it really worth the money? The answer is most of the time the missile costs much more than any target you can destroy with it,” said Loren Thompson, a longtime military analyst in Washington, D.C. The U.S. Navy intercepted Houthi missiles and drones targeting two warships and three merchant vessels in the Gulf of Aden. But they provide the capability for Navy vessels to strike an enemy from a distance of thousands of kilometers — outside the range of most enemy weapons — and there is no effective defense against them, said retired Navy Rear Adm. Ray Spicer, CEO of the U.S. Naval Institute, an independent forum focusing on national security issues, and former commander of an aircraft carrier strike force. Conventional missiles that cost less aren’t much of a bargain if they are unable to reach their targets, Spicer said, adding the U.S. military really has no choice but to pursue them. “The adversary has them. We never want to be outdone,” he said. The U.S. is accelerating development because hypersonics have been identified as vital to U.S. national security with “survivable and lethal capabilities,” said James Weber, principal director for hypersonics in the Office of the Assistant Secretary of Defense for Critical Technologies. “Fielding new capabilities that are based on hypersonic technologies is a priority for the defense department to sustain and strengthen our integrated deterrence, and to build enduring advantages,” he said. Image Credit: Jacob Lund / Shutterstock The financial challenges facing U.S. military households are a significant concern throughout the year. Holidays such as Memorial Day, Armed Forces Day, or Veterans Day highlight the ongoing struggles that service members face, particularly amid rising costs for everyday essentials. Recent data from the U.S. Census Bureau’s Household Pulse Survey shows a troubling trend: Military personnel and their families are finding it more difficult to cover basic household expenses such as food, housing, and transportation than the average American. Our analysis examines how service members are faring in today’s economy compared to civilian households, highlighting the states where military families report the greatest challenges in managing their finances. As we enter Giving Season, we’ve also highlighted meaningful ways to support service members and their families through charitable contributions, offering an opportunity to make a direct impact on those who serve our nation. Service members are struggling more financially than the average American. Image Credit: Upgraded Points According to recent Household Pulse Survey data, members of the armed services are experiencing financial strain at higher rates than the general U.S. population. Over 40% of service members report difficulty covering their usual household expenses, compared to 36.6% of all U.S. adults. The data also shows heightened anxiety among service members regarding rising prices. Nearly 80% of military personnel express stress about recent price increases, significantly higher than the 71.8% of all U.S. adults who share similar feelings. Furthermore, 81.8% of service members are concerned about future price hikes, reflecting widespread uncertainty about inflation’s long-term impact on household budgets. More than half of service members in certain states have difficulty covering basic household expenses. Image Credit: Upgraded Points Across the U.S., the financial burden on service members varies significantly from state to state, primarily influenced by local economic conditions. According to the most recent data, Utah leads with 53.7% of service members reporting difficulty covering basic household expenses, closely followed by Louisiana (52.9%) and Alaska (52.8%). Other states where over half of service members are struggling include Indiana (52.0%), Tennessee (51.2%), New York (50.8%), and Florida (50.3%). A key issue service members frequently raise is that their Basic Allowance for Housing (BAH) has not kept pace with the rapidly rising cost of housing. In states where service members face the greatest financial difficulties, such as Utah, Indiana, Tennessee, and Florida, home price increases have far exceeded the national average, exacerbating the strain on household budgets. Another critical factor affecting military families is the employment challenges military spouses face. According to the Department of Defense, the was 21% in 2023, compared to a national rate of 3.6% that year. Many military bases are located in rural or remote areas, limiting job opportunities for spouses, particularly in specialized fields. Additionally, frequent relocations make it difficult for spouses to sustain long-term careers, especially for those in professions requiring state-specific occupational licenses that can be difficult to transfer. Service members are also more likely to report financial struggles in states with higher-than-average unemployment rates, such as Louisiana, Alaska, and New York. Conversely, the state unemployment rate is below average in 9 of the 10 states where service members report the least financial difficulty. This suggests that strong local employment opportunities, particularly for spouses, significantly ease the financial burden on military households. Photo Credit: Bumble Dee / Shutterstock One of the most impactful ways to support service members, veterans, and their families who are facing financial hardships is through donations to reputable charities. These organizations are dedicated to addressing the unique challenges faced by military families and veterans, providing vital assistance in areas like housing, medical expenses, scholarships, and career training. To help guide your generosity, we’ve compiled a list of top-rated charities based on scores from , , and , which assess organizations on criteria such as impact, efficiency, accountability, and transparency. Here are some of the best charities supporting military families and veterans in need: 1. For over 80 years, the USO has provided crucial support to active-duty service members and their families. From financial assistance programs to community-building initiatives, the USO helps service members stay connected to loved ones while addressing their most pressing needs during deployments and transitions. 2. This charity is focused on providing specially adapted homes for severely injured post-9/11 veterans. It helps veterans regain independence. Homes For Our Troops also provides financial planning and household budgeting to ensure long-term stability for the recipients. 3. Dedicated to advocating for veterans of the Iraq and Afghanistan wars, IAVA works to improve government policies and programs that support military families. Its advocacy ensures veterans have access to financial resources, healthcare, and education opportunities. 4. This foundation builds “comfort homes” near military and VA medical centers, allowing families to stay free of charge while a loved one is hospitalized. By reducing travel and lodging expenses, Fisher House eases financial stress during difficult times. 5. Offering a range of programs focused on financial stability, wellness, social support, and education, Hope For The Warriors provides critical support to service members, veterans, and their families. Its services include direct financial assistance for transitioning service members and veterans in need, career training and job placement, and scholarships for spouses. 6. Semper Fi & America’s Fund assists wounded, ill, and injured service members and their families through direct financial assistance and case management during hospitalization and recovery. The organization also provides educational support, career assistance, and health and wellness services. 7. WWFS supports families of those wounded or killed in combat through programs like medical travel grants, meal and housekeeping assistance, in-home care services, and family retreats. By addressing these families' immediate and ongoing needs, WWFS alleviates the financial burdens of those suffering from recent tragic events. For more information, a detailed methodology, and complete results, see on . Photo Credit: Jacob Lund / Shutterstock Upgraded Points conducted the analysis using the latest data from the U.S. Census Bureau , covering the period from January 9, 2024, to September 16, 2024. Service members were defined as adults currently serving in the U.S. armed forces (Active Duty, Reserve, or National Guard) and their spouses. This analysis focuses on 3 key questions from the survey: Statistics with fewer than 50 survey responses were omitted from the analysis. Additional statistics on home prices were sourced from Zillow’s and unemployment rates were sourced from the U.S. Census Bureau’s . For complete results, see on Upgraded Points. Get local news delivered to your inbox!BOULDER, Colo. — A 72-year-old lifelong Colorado fan with end-stage kidney failure waited to the side of the field in his wheelchair for Travis Hunter and the rest of the Buffaloes. One by one, players strolled over and signed a football for Riley Rhoades, his face lighting up with each signature. Standing close by and taking in the scene was Jeremy Bloom. He's become a wish facilitator for older adults. Bloom, the former Colorado wide receiver and Olympic freestyle skier, started the Wish of a Lifetime foundation in 2008, which has made thousands of aspirations turn into reality for older adults. The list of granted wishes range from taking veterans back to the beaches of Normandy to helping late-in-life authors publish a book. He's staged concerts for musicians, assisted some in daredevil feats such as jumping out of an airplane and even lined up a meeting between an Olympic medalist and former President Barack Obama. For Rhoades, his wish was simply to return to Folsom Field again, the place where he used to have season tickets but hasn't attended a game since 2004. "Everybody has somebody in their life —a grandparent, friend, neighbor — at that age where you wish you had more resources to help," said Bloom, whose college career was cut short two decades ago when the NCAA denied his reinstatement to play football and still ski professionally after receiving endorsement money to fuel his Olympic dreams. "Nothing can compare to seeing someone else's eyes light up because you helped make their dream come true." The foundation is a tribute to his grandparents. But the concept began to take root when he was a teenager. He was in Japan for a World Cup freestyle skiing competition when a woman tried to hop on a crowded bus. There was no room, but everyone in front rose from their seats to make space. That stuck with him, along with seeing these acts of kindness for older adults all over Europe and Asia as he traveled. An idea formed — bring that same level of appreciation to the United States, with a wish-granting element. Bloom's organization has been a charitable affiliate of AARP since 2020. It was the yearning of Rhoades that brought the two of them to Folsom Field last weekend. Rhoades, who had season tickets at Colorado for 27 years, wanted to see the Buffaloes in person after watching the team's resurgence on television. A few years ago, Rhoades, who was born with spina bifida, was diagnosed with end-stage renal failure. Being among the 54,646 fans Saturday stirred up plenty of emotions for Rhoades, as he watched the 16th-ranked Buffaloes (8-2, 6-1 Big 12, No. 16 CFP) beat Utah. Colorado remains in the race for not only a conference title but a spot in the College Football Playoff. "It's just great to be back here again," Rhoades said as he pointed out the section where he used to watch games. "It's just ... so cool." For Bloom, the success that coach Deion Sanders has brought to the program means more reunions with teammates as they pass through town. "I've been through many years where nobody comes to visit," Bloom said. "It's fun that Boulder has become the epicenter of college football." Leading the way for Colorado this season have been quarterback Shedeur Sanders and two-way star Hunter, who's the Heisman Trophy frontrunner. But what particularly pleases Bloom is that Sanders, Hunter and the rest of college football players are able to finally profit through name, image and likeness. In his day, Bloom got caught in the NCAA crosshairs for wanting to play both sports and to have sponsors in one (skiing) so he could fund his Olympic aspirations. How time have changed. "I'm just really grateful that this generation of athletes gets to monetize their skills and ability," said Bloom, who finished sixth in moguls at the 2006 Winter Games in Italy. "It's the right thing." He's thrown his passion into fulfilling wishes such as learning ballet, riding in a Formula 1 pace car or taking a flight in a fighter jet. He's also helped reconnect families and friends, including a reunion for a trio of centenarian sisters who hadn't seen each other in more than a decade. This granted wish has stuck with Bloom: A person in Alabama wasn't able to travel after being diagnosed with end-of-life emphysema. So he asked for postcards to be sent, just to learn what made someone's town so special. He received 2,000 postcards from 26 different countries. "There's no end to the things that they've done for us in the world," Bloom said of older adults. "We're one of the organizations that reminds them that their dreams still do matter and that we still appreciate them and we cherish them." Get local news delivered to your inbox!Prospects for President Yoon's impeachment are dim with ruling party boycotting vote
2024 has been a rough year for Celsius Holdings ( CELH 1.00% ) . The maker of healthier sugar-free energy drinks posted a revenue slump last quarter amid increasing competition and a changing strategy with its largest distribution partner. Shares have fallen a whopping 70% from all-time highs set just a half-year ago, causing immense pain for shareholders who have held on this year. This short-term pain should be seen as an opportunity for patient investors focused on long-term gains. Here's why growth stock Celsius Holdings is a buy for investors as we head into the holiday season. Market share stagnation, PepsiCo distribution headwind Celsius stock has gone in the tank for a few reasons. First, we should note that the stock was trading at a price-to-earnings ratio ( P/E ) of over 100 earlier in 2024. Any stock trading at a nosebleed P/E is going to be risky, no matter how fast the company is growing sales. Speaking of which, that brings us to the second reason Celsius stock has faltered this year: slowing revenue growth. After posting huge double-digit revenue growth figures for many years, Celsius went into a big slowdown in 2024. Each quarter saw successive deceleration in revenue growth, with revenue actually falling 31% year over year last quarter. Now, this huge revenue drop is not as bad as it seems. Celsius has a major distribution deal with PepsiCo , which decided to trim its inventory levels for the energy drink brand this year. Ingesting less inventory meant a temporary hit to Celsius's revenue. The brand didn't lose 30% of its market share in one quarter. The market share story is not pretty, though. After years of market share gains in the energy drink category, Celsius seems to have stalled out at around 12% market share in the United States in 2024. Time will tell whether this stagnation is a ceiling for Celsius, but investors are clearly worried. There is increasing competition from upstart brands like Alani Nu and Ghost that are eating into the sugar-free energy drink market once dominated by Celsius. Long-term international growth, category tailwind Celsius is facing headwinds in multiple areas right now. That doesn't mean they will be permanent. The inventory issues with Pepsi should resolve within the next few quarters. Then, the company's revenue will line up with actual sales from retailers to fans of the product. Brand competition is fierce, and investors shouldn't bank on Celsius gaining market share like it did before 2024. No consumer packaged good category is a monopoly -- there will always be other energy drink brands out there. There are some long-term tailwinds that should help Celsius grow over the next five years. The brand is only just expanding to international markets, which now include English-speaking countries and France. International revenue grew 37% year over year last quarter, which investors should expect to continue in upcoming years. Overall energy drink sales keep growing, taking share from traditional drink sources such as coffee, fruit juices, and soda. If Celsius keeps its market share, this sector tailwind should help it grow revenue over the next few years. Last, we shouldn't forget the steady price increases consumer packaged food brands can implement year after year. A pack of 12 Celsius cans is currently going for around $20 on Amazon . Celsius will be able to raise prices to $21, $22, and eventually higher on its energy drink packs in the years to come and will likely get little customer pushback. These are simply not expensive items if people incorporate such products into their daily lives. CELH PE Ratio data by YCharts . Why the stock is a buy right now Add up these three growth drivers -- international expansion, category growth, and pricing power -- and I think Celsius can produce 10% annual revenue growth over the next five years. Extrapolating from its current trailing revenue of $1.37 billion, Celsius will be doing $2.2 billion in sales five years from now. Assuming the company can reach similar profit margins to Monster Beverage of 25%, Celsius will be generating $550 million in annual earnings in five years, which would bring its P/E down to 12.4 compared to the stock's current market cap of $6.8 billion. The average P/E ratio for the S&P 500 ( ^GSPC 0.25% ) is 31 today. If you believe in the Celsius growth story, the stock is likely a buy for those looking to hold for at least five years or longer, after falling 70% from highs.Tesla CEO Elon Musk posted a very simple question Dec. 7 on his X (formerly Twitter) social media account: “ Why are we doing this when our own country is so deeply in debt?” The object of Musk’s curiosity? International humanitarian aid, which, according to a United Nations estimate , the United States gave more of than nine other countries combined, totaling almost $9.5 billion in 2023. As one of two co-chiefs of the still nebulous “Department of Government Efficiency” ― at this point, “DOGE” it is more of a social media account than an actual federal entity ― all eyes are on Musk and former Republican presidential candidate Vivek Ramaswamy and what they will focus on as potential areas where the government can save money. But, as the foreign aid example shows, so far Musk appears to be looking at small but headline-grabbing proposals with little potential to meaningfully reduce the federal budget deficit. “They’re not serious about controlling the deficit or the debt. What they’re serious about is helping people that would help them. That’s it,” Rep. Jim McGovern (D-Mass.) told HuffPost. There is little dispute the U.S. government debt load has entered nearly unprecedented levels, with fears it could lead to a sharp financial crisis or become an ever-larger drag on economic growth. The federal debt held by investors was 99% of the size of the U.S. economy in 2024, according to the nonpartisan Congressional Budget Office (CBO) in June , and projected to hit 122% by 2034. For comparison, the debt load of the U.S. after World War II was almost 109%. And the problem gets worse each year. The annual deficit (the difference between how much the government brings in each year and how much it has spent), and thus how much debt gets added to the government’s ledger, was $1.83 trillion in 2024 . That reflected spending of $6.75 trillion but revenue of only $4.92 trillion. Though the years immediately following the pandemic financial crisis featured low interest rates and sputtering growth, making deficit spending wise and necessary, the high interest rates and steady growth of the years following the COVID-19 upheaval would seemingly be ideal for cutting spending. That’s not what President-elect Donald Trump, who appointed Musk and Ramaswamy as co-chiefs of the advisory panel, has planned. He has focused on extending and expanding the massive tax cuts for the wealthy and corporations that were passed during his first term, which would explode the deficit even further and risk reigniting inflation. In theory, those tax breaks could be offset by spending cuts proposed by Musk. But the items he has recently posted about would do very little to close the gap. For example, getting rid of the $9.5 billion in international humanitarian aid that Musk questioned would have reduced the 2024 deficit by only about 0.5%. (1% of $1.83 trillion is $18.3 billion.) Likewise, even if all foreign aid and international relations spending were scrapped — an unlikely prospect given U.S. commitments to international organizations as well as allies such as Israel — that would have totaled close to $72 billion in 2024 . Though that may sound impressive on paper, it would have reduced the deficit by only a little under 4%. Similarly, on Dec. 5, the DOGE social media account targeted the National Institutes of Health for spending $759 million on workforce diversity and outreach in 2023. If that same amount had been eliminated in 2024, it would have cut the deficit by less than a quarter of a percentage point. It would not be the first time seemingly simple and politically popular ideas have been proposed that would do little to change the fiscal trajectory. Lawmakers on Capitol Hill have long sought to highlight individual instances of potentially wasteful spending, dating back to Sen. William Proxmire (D-Wis.), who gave out annual “Golden Fleece” awards to what he saw as egregious examples of waste from 1975 to 1987. The phenomenon is familiar to old-time deficit hawks. “We’re probably going to spend so much of our time looking at the things that make headlines — million-dollar hammers, gerbil racing, all of those things ― and it will keep us away from where everyone who’s serious in this area knows the real savings are,” Maya MacGuineas, president of the nonpartisan Committee for a Responsible Federal Budget (CRFB), told reporters in November. Those areas are spending on entitlement programs, such as Social Security, Medicare and Medicaid, and spending through the tax code in the form of rates, credits and deductions. “We will hear a lot of ways to try to avoid the real, hard choices that ultimately are going to have to be part of a budget deal, the same thing many of us have been saying for many years,” MacGuineas said. Indeed, MacGuineas’ group put forward a list of what it called “$700 Billion of Easy Deficit Reduction” in November as a way to jumpstart the discussion. They included ideas like spending more money on the Internal Revenue Service’s tax enforcement (bringing in an extra $130 billion over 10 years), stop paying “excessive” tax credits for businesses still trying to claim money under the COVID-era employee retention program ($80 billion over 10 years), extending the Federal Communications Commission’s auctions of electromagnetic spectrum ($70 billion over 10 years) and extending an existing but small across-the-board cut in entitlement spending set to expire in a few years ($85 billion). A more comprehensive list was dropped Dec. 12 by the CBO . Released once every two years after elections, it’s a list of options for lawmakers on entitlement spending, annual discretionary spending and taxes, describing what changes could be made and how much they would raise revenues or cut spending over 10 years. Little-known outside of budget wonk circles, the report’s options, in keeping with CBO’s nonpartisan advisory to role to Congress, run the gamut, from imposing new taxes to big cuts in entitlement programs. For example, its two biggest deficit-cutting ideas are on the tax side, eliminating all itemized deductions for income taxes (raising $3.42 trillion over 10 years) and imposing a European-style value-added tax (VAT) of 5% on goods and services (raising $3.38 trillion over 10 years). On spending, the biggest option CBO outlined was recalculating what the government pays Medicare Advantage health insurance plans in relation to their participants’ health ($1.05 trillion over 10 years). Other big spending cut options in the report included trimming the annual defense budget by $959 billion over 10 years and capping how much the federal government spends on Medicaid for each person in the federal-state insurance program ($893 billion over 10 years). Bill Hoagland, senior vice president of the Bipartisan Policy Center and a former Capitol Hill Republican budget staffer, said the options used to be looked at closely when they came out. “But once again, there’s not always much new about them.” The problem with the CRFB and CBO ideas is that they would be nonstarters politically. Republicans talked a big game about tax reform in 2017 but ended up keeping most itemized deductions. And neither party is up for imposing a VAT in place of the current income tax system. Similarly, cutting Medicare would be difficult in the wake of Trump’s promises that it and Social Security would be off-limits in his second term. Cuts to Medicaid would draw opposition from states that share the costs of the program, doctors who see Medicaid patients and millions of people who rely on the program. Those are just a few examples of the bigger problem, according to Hoagland. “This isn’t the first rodeo for a lot of us,” Hoagland said. “We’ve been through this a lot, and where is the political will to follow through?” MacGuineas had a similar concern. Though she said some technological changes, like the rise of artificial intelligence, could boost economic growth and make deficit reduction easier, she said those kinds of ideas should not distract from more credible, even if politically tougher, ones. “We know all the policies that are going to fix these fiscal situations. It’s just getting the political will. It’s just ending the polarization and partisanship enough that we can work together on this,” MacGuineas said. That may not be as impossible as it sounds. A few Democrats have joined the DOGE Caucus on Capitol Hill, though its membership is overwhelmingly Republican. On Jan. 20, Donald Trump will reclaim the most powerful seat in our nation's government. 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Whether you give just one more time or sign up again to contribute regularly, we appreciate you playing a part in keeping our journalism free for all. Already contributed? Log in to hide these messages. And though McGovern, the House Democrat, said he doesn’t see the effort as a serious one, he said he was willing to work with DOGE on areas where they might agree, such as defense spending after Musk criticized the cost of the F-35 fighter jet’s development . “If they want to talk about looking at the Pentagon budget, find savings there, I would welcome that,” McGovern said. Related From Our Partner
Lionel Messi Fortnite Skin drops: Release time, prices, and exclusive bundle detailsAncient meets modern as a new subway in Greece showcases archaeological treasures THESSALONIKI, Greece (AP) — Thessaloniki, Greece’s second-largest city, is opening a new subway system, blending ancient archaeological treasures with modern transit technology like driverless trains and platform screen doors. The project, which began in 2003, uncovered over 300,000 artifacts, including a Roman-era thoroughfare and Byzantine relics, many of which are now displayed in its 13 stations. Despite delays caused by preserving these findings, the inaugural line has been completed, with a second line set to open next year. Conor McGregor must pay $250K to woman who says he raped her, civil jury rules LONDON (AP) — A civil jury in Ireland has awarded more than $250,000 to a woman who says she was raped by mixed martial arts fighter Conor McGregor in a Dublin hotel penthouse after a night of heavy partying. The jury on Friday awarded Nikita Hand in her lawsuit that claimed McGregor “brutally raped and battered” her in 2018. The lawsuit says the assault left her heavily bruised and suffering from post-traumatic stress disorder. McGregor testified that he never forced her to do anything and that Hand fabricated her allegations after the two had consensual sex. McGregor says he will appeal the verdict. At least 15 people are sick in Minnesota from ground beef tied to E. coli recall U.S. health officials say at least 15 people in Minnesota have been sickened by E. coli poisoning tied to a national recall of more than 160,000 pounds of potentially tainted ground beef. Detroit-based Wolverine Packing Co. recalled the meat this week after Minnesota state agriculture officials reported multiple illnesses and found that a sample of the product tested positive for E. coli O157:H7, which can cause life-threatening infections. Symptoms of E. coli poisoning include fever, vomiting, diarrhea and signs of dehydration. Kendrick Lamar surprises with new album 'GNX' LOS ANGELES (AP) — Kendrick Lamar gave music listeners an early holiday present with a new album. The Grammy winner released his sixth studio album “GNX” on Friday. The 12-track project is the rapper’s first release since 2022’s “Mr. Morale & The Big Steppers.” Lamar’s new album comes just months after his rap battle with Drake. The rap megastar will headline February's Apple Music Super Bowl Halftime Show in New Orleans. The 37-year-old has experienced massive success since his debut album “good kid, m.A.A.d city” in 2012. Since then, he’s accumulated 17 Grammy wins and became the first non-classical, non-jazz musician to win a Pulitzer Prize. Actor Jonathan Majors’ ex-girlfriend drops assault and defamation lawsuit against once-rising star NEW YORK (AP) — Jonathan Majors’ ex-girlfriend has dropped her assault and defamation lawsuit against the once-rising Hollywood star after reaching a settlement. Lawyers for Majors and Grace Jabbari agreed to dismiss the case with prejudice Thursday. Jabbari is a British dancer who had accused Majors of subjecting her to escalating incidents of physical and verbal abuse during their relationship. Representatives for Majors didn’t respond to emails seeking comment Friday. Jabbari’s lawyer said the suit was “favorably settled” and her client is moving on with “her head held high.” Majors was convicted of misdemeanor assault and harassment last December and sentenced to a yearlong counseling program. Hyundai, Kia recall over 208,000 electric vehicles to fix problem that can cause loss of power DETROIT (AP) — Hyundai and Kia are recalling over 208,000 electric vehicles to fix a pesky problem that can cause loss of drive power, increasing the risk of a crash. The recalls cover more than 145,000 Hyundai and Genesis vehicles including the 2022 through 2024 Ioniq 5, the 2023 through 2025 Ioniq 6, GV60 and GV70, and the 2023 and 2024 G80. Also included are nearly 63,000 Kia EV 6 vehicles from 2022 through 2024. The affiliated Korean automakers say in government documents that a transistor in a charging control unit can be damaged and stop charging the 12-volt battery. Dealers will inspect and replace the control unit and a fuse if needed. They also will update software. Christmas TV movies are in their Taylor Swift era, with two Swift-inspired films airing this year Two of the new holiday movies coming to TV this season have a Taylor Swift connection that her fans would have no problem decoding. “Christmas in the Spotlight” debuts Saturday on Lifetime. It stars Jessica Lord as the world’s biggest pop star and Laith Wallschleger, playing a pro football player, who meet and fall in love, not unlike Swift and her boyfriend, Kansas City Chiefs tight end Travis Kelce. On Nov. 30, Hallmark will air “Holiday Touchdown: A Chiefs Love Story.” Instead of a nod to Swift, it’s an ode to family traditions and bonding, like rooting for a sports team. Hallmark’s headquarters is also in Kansas City. Top football recruit Bryce Underwood changes commitment to Michigan instead of LSU, AP source says ANN ARBOR, Mich. (AP) — Top football recruit Bryce Underwood has flipped to Michigan after pledging to play at LSU. That's according to a person familiar with the situation who spoke to The Associated Press on condition of anonymity because they were not authorized to share the recruit’s plans to join the Wolverines. Underwood pinned a post on his Instagram account, showing a post in which On3.com reported that he has committed to Michigan. The 6-foot-3 quarterback played at Belleville High School about 15 miles east of Michigan's campus, and told LSU nearly a year ago he intended to enroll there. Emperor penguin released at sea 20 days after waddling onto Australian beach MELBOURNE, Australia (AP) — The only emperor penguin known to have swum from Antarctica to Australia has been released at sea 20 days after he waddled ashore on a popular tourist beach. The adult male was found on Nov. 1 on sand dunes in temperate southwest Australia about 2,200 miles north of the Antarctic coast. He was released Wednesday from a boat that traveled several hours from Western Australia state's most southerly city of Albany. His caregiver Carol Biddulph wasn't sure at first if the penguin would live. She said a mirror was important to his rehabilitation because they provide a sense of company. Biddulph said: “They’re social birds and he stands next to the mirror most of the time.” Shohei Ohtani wins third MVP award, first in NL. Aaron Judge earns second AL honor in 3 seasons NEW YORK (AP) — Shohei Ohtani won his third Most Valuable Player Award and first in the National League, and Aaron Judge earned his second American League honor on Thursday. Ohtani was a unanimous MVP for the third time, receiving all 30 first-place votes and 420 points in voting by the Baseball Writers’ Association of America. New York Mets shortstop Francisco Lindor was second with 263 points and Arizona second baseman Ketel Marte third with 229. Judge was a unanimous pick for the first time. Kansas City shortstop Bobby Witt Jr. got all 30 second-place votes for 270 points, and Yankees outfielder Juan Soto was third with 21 third-place votes and 229 points.
In the late 90s and 2000s was the best-selling phone brand with over 40 percent market share. That dominance however faded away as Samsung, Apple, and other aggressive Chinese OEMs took away the market share. The Finnish brand has made steady strides after being acquired by HMD Global, focusing on value, durability, and software experience. To remember the glory years of Nokia, Helsinki-based Aalto University (a renowned research school) has launched the Nokia Design Archive to maintain a repository of 20,000 items from the brand during the period of the mid-90s to 2017. This includes secret Nokia concepts and materials maintained in a digital format. Users will also be able to get access to the ideation, sketches, and designer interviews starting January 15 next year. Designer: According to Kaisu Savola, Aalto University post-doctoral researcher, “Technology doesn’t just shape us; we shape technology. When we started the project, the focus was on objects. As we began going through the material, we soon realized that it was about people.” The highlight of the archive will be the Nokia 3310 brick phone, the Nokia 8810 banana phone used by Keanu Reaves in The 1999 The Matrix movie, and the Nokia 7280 lipstick phone that was a bold choice for millennials. The motive of this research initially was on objects but transitioning through the material made the team realize it was more about people. During the first phase, the online portal will have a fraction of the stories, images, prototypes licensed by Microsoft Mobile, and later on more Nokia stories will be added. The digital files will amount to 959GB of valuable repository that’ll take loyal fans back in time. We at Yanko Design just can’t wait to go through the preserved material of the Nokia N83, more commonly known as the multimedia computer of the Symbian Series 60. Similarly, the Nokia 3210 released in 1999 ushered in an era of phone customization and had an interesting piece of history associated with it. Another unforgettable piece of Nokia’s legacy is the factory ringtone. the 1902 Gran Vals by Francisco Tárrega that was heard approximately 1.8 bn times a day around the globe. Also, the sneak peek at the wildest concept ideas like virtual reality glasses from the Finnish brand’s glory years is going to be a nostalgic ride down memory lane!
NFL world reacts with excitement, surprise, questions after Bill Belichick is hired to coach UNC
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