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An ode to hot dish, with Food Network star Molly Yeh
When the US presidential election was called for Donald Trump, the yield on ten-year US government bonds increased from 4.3% to 4.4%, and the 30-year-bond yield rose from 4.5% to 4.6%, with both remaining at those levels ten days later. As the bond market declined -- higher yields mean lower prices -- the stock market rose. Clearly, investors expect the next Trump administration to produce higher government budget deficits and more debt. It is not difficult to see why. During Mr Trump's first term in office, he added US$8 trillion to the national debt -- all previous presidents combined had accumulated $20 trillion -- despite having promised to run budget surpluses so large that they would eliminate the national debt within two terms. In the campaign, he vowed to cut taxes for seemingly every group that caught his fancy. According to the Committee for a Responsible Federal Budget's central estimate, Mr Trump's tax proposals imply $10 trillion in foregone revenue over the next ten years. Add to that an extra $1 trillion in interest accrued on the national debt, and the losses far exceed the $3 trillion in added revenue that would come from the sky-high tariffs that Mr Trump has pledged to introduce. This will require the federal government to sell a lot of bonds -- a practice that will keep their price low and interest rates high. The Republican Party line is that the lost revenue will be offset by spending cuts. It is a refrain we have heard before. In fact, Mr Trump is continuing a 45-year tradition of Republican presidents making sweeping promises to cut government spending, which they claim will more than cover revenue losses from tax cuts. From Ronald Reagan to George W Bush -- and, of course, Mr Trump -- they have all failed spectacularly. Mr Trump is also upholding another Republican tradition: appointing a toothless advisory commission of businesspeople. This time, it is the new Department of Government Efficiency (DOGE) -- to be headed by Elon Musk and Vivek Ramaswamy -- which is supposed to cut waste, fraud, and abuse from the federal budget. According to Mr Musk, DOGE will be able to slash "at least $2 trillion" from the budget per year. This goal -- which amounts to 31% of annual US spending, and 7% of US GDP -- is sheer fantasy. Don't let the word "Department" fool you: DOGE is an advisory commission, not a government department. And, though Republicans control all branches of government, its recommendations are unlikely to be enacted; they might not even develop into actionable policy proposals. But even if we put aside DOGE's weaknesses -- not to mention the massive ethical conflicts that its activities would create for Mr Musk, the world's richest man -- the $2 trillion figure remains absurd. When Republicans say they want to slash federal spending, they typically specify that they will not cut mandatory programmes -- so-called entitlement spending. But the major entitlement programmes -- Social Security, Medicare, other healthcare programmes -- accounted for half of all federal spending last year, or 61% if farm-price support and other income-support programmes are included. With retired people comprising a growing share of the population, entitlement spending in the future will only rise. Interest payments, which account for 13% of total spending, cannot be cut, either -- unless the US wants to default on the national debt. (Though Mr Trump has revelled in his ability to default on debts, having declared business bankruptcy six times, most Republicans are not interested in the US doing so.) And this bill, too, is likely to continue rising as debt is rolled over at interest rates well above the rock-bottom rates of five or 15 years ago. That leaves discretionary spending, which accounts for about 25% of total expenditure. But if one considers defence spending untouchable -- as most Republicans do -- we are talking about just 12% of the total budget. Can Mr Trump and Mr Musk find their desired savings here? Say they go fully draconian -- starting by abolishing the Department of Education altogether, as Mr Trump has pledged to do. This would reduce total spending by 4%. Then what? Maybe foreign aid. But, contrary to the impressions of many voters, aid accounts for just 1% of all federal spending. Military aid to Israel -- something Republicans will not touch -- accounts for the largest share. Perhaps Mr Trump would like to cut humanitarian assistance, such as famine relief, but that is just one-fifth of the total. It is difficult to imagine abolishing the Federal Aviation Administration and other federal transportation programmes -- 2% of spending -- but let's say Mr Trump does it. Let's also say he eliminates all spending on the Department of the Interior and the Department of Commerce. In fact, let us imagine that the US cancels all non-defence discretionary spending. That would still not be enough to save the US federal government $2 trillion annually, let alone pay for Mr Trump's tax cuts and balance the budget. None of this is to say that US budget deficits -- which are currently running in excess of 6% of GDP -- do not need to be reduced. With the debt-to-GDP ratio having climbed steadily since 1981 -- punctuated by temporary declines in 1994-2000 and 2021-22 -- the national debt is undoubtedly on an unsustainable path. Since last year, the gross debt-to-GDP ratio has broken the record set in 1946, at the end of World War II, and its rise is set to accelerate. Mr Trump's next administration -- with the sweeping tax cuts it is sure to introduce -- will be a powerful driver of this trend. Financial markets might be buoyant now, but eventually -- and perhaps before too long -- they will come to appreciate the unsustainability of US debt. At that point, Social Security and other entitlement spending will be cut far more sharply than if they were cut now, or if taxes were not cut. Supporters often say that a businessman like Mr Trump or Mr Musk will know how to put America's fiscal house in order. But the smart money says they have no idea what they are doing. ©2024 Project Syndicate Jeffrey Frankel, Professor of Capital Formation and Growth at Harvard University, served as a member of President Bill Clinton's Council of Economic Advisers. He is a research associate at the US National Bureau of Economic Research.None
By HALELUYA HADERO, Associated Press President-elect Donald Trump asked the Supreme Court on Friday to pause the potential TikTok ban from going into effect until his administration can pursue a “political resolution” to the issue. The request came as TikTok and the Biden administration filed opposing briefs to the court, in which the company argued the court should strike down a law that could ban the platform by Jan. 19 while the government emphasized its position that the statute is needed to eliminate a national security risk. “President Trump takes no position on the underlying merits of this dispute. Instead, he respectfully requests that the Court consider staying the Act’s deadline for divestment of January 19, 2025, while it considers the merits of this case,” said Trump’s amicus brief, which supported neither party in the case. The filings come ahead of oral arguments scheduled for Jan. 10 on whether the law, which requires TikTok to divest from its China-based parent company or face a ban, unlawfully restricts speech in violation of the First Amendment. Earlier this month, a panel of three federal judges on the U.S. Court of Appeals for the District of Columbia Circuit unanimously upheld the statute , leading TikTok to appeal the case to the Supreme Court. The brief from Trump said he opposes banning TikTok at this junction and “seeks the ability to resolve the issues at hand through political means once he takes office.”
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Is he serious? Trump stirs unease with Panama, Greenland ploysNew pro-European coalition approved in Romania amid period of political turmoilLike its predecessor, “Gladiator II” is inspired by history. That doesn’t mean it’s bound by actual historical facts, however. Now in theaters, Ridley Scott’s follow-up to his 2000 epic “Gladiator” follows Lucius (Paul Mescal), the son of Russell Crowe’s warrior Maximus, during the reign of twin emperors Geta (Joseph Quinn) and Caracalla (Fred Hechinger). It features characters based on real historical figures as well as those created for the film. Much like its predecessor, “Gladiator II” centers on spectacular gladiatorial games held at the Colosseum, which pits captive warriors like Lucius against other men as well as animals in combat. In honor of the wild contests featured in the film, we asked experts what types of outrageous events actually happened in the Colosseum. There may not have been sharks, but there were sea battles The Colosseum today might not appear to be a site that could have hosted water battles, but experts say they happened. “Sometimes there would be a naval battle that was staged” as part of the games, says Andrew Scott, a professor of classical studies at Villanova University. “That was maybe a little bit rare, but there is a lot of attestations of that.” He explained that when the Colosseum was opened during the reign of emperor Titus, historical reenactments of naval battles from the 5th century BC were staged. But even before then, the first Roman emperor Augustus is said to have staged sea battles involving thousands of participants at a different venue. The presence of sharks at these battles (called naumachiae) is quite unlikely, however. “I can’t think of an instance where an ancient source talks about that sort of wildlife,” says Scott. According to the book “The Colosseum,” by Keith Hopkins and Mary Beard, historian Cassius Dio wrote that “horses and bulls and other domesticated animals” were brought out as part of Titus’ aquatic show. Semi-aquatic wildlife, such as crocodiles, were involved in other spectacles: “The Colosseum” mentions Dio’s account of one of Augustus’ animal hunts featuring “36 crocodiles.” In fact, all sorts of animals were part of the show Historians say many more animals than humans were involved in entertainment events at arenas like the Colosseum. They were generally used in staged hunts, as well as public executions. They were also pitted against each other. According to Scott, such events allowed an emperor to show off what sort of animals could be procured from the far reaches of the empire that people in Rome had never seen before. The animals said to have been featured in Roman spectacles include hippopotamuses, elephants, rhinoceroses, bears, ostriches and big cats like lions and tigers. “Historian Cassius Dio talks about an animal that he refers to as a cameleopard,” says Scott. A cameleopard may evoke the image of a mysterious exotic big cat, but it’s what ancient Romans called giraffes based on their appearance. Sometimes emperors were gladiators, too Generally, emperors sponsored gladiatorial games to boost their popularity and to showcase their might. But at least one emperor participated in the arena spectacles in order to further bask in the public’s attention. Commodus, the emperor who was the basis for the character in “Gladiator” (2000), was “an emperor we are told actually performed in the arena,” says Scott. “There’s this long section in a book by the Roman historian Cassius Dio where he talks about how Commodus participated in the hunting games [and] performed as a gladiator.” The real-life counterparts to “Gladiator II’s” emperors were a slightly different story. “I don’t think we have direct evidence of Caracalla participating in the games, but there’s a lot of talk in the ancient sources about how he liked to drive his chariot,” said “I think in this period, there can be sort of a melding of this emperor persona with the popularity of an arena performer.” Hollywood has nothing on ancient Romans’ own Colosseum stories It’s no surprise that blockbusters like “Gladiator II” embellish historical facts to make sure audiences are entertained. But Hollywood storytellers aren’t the only ones. Ancient Roman historians and poets alike wrote about the thousands of people and animals involved in various arena events. But the most shocking (at least to modern sensibilities) might not have been a combat or hunting simulation. According to “The Colosseum,” the ancient Roman poet Martial wrote that the opening events of the amphitheater included reenactments from mythology. Supposedly, the story of how the half-human/half-bull Minotaur came to be was acted out in the arena between a woman and a live animal. But whether Martial meant this literally or was using a little creative license of his own is up for readers to debate.
Ifedi starts at left tackle for Browns in prime-time matchup against AFC North-leading Steelers CLEVELAND (AP) — Germain Ifedi became the fourth left tackle to start this season for the Cleveland Browns, lining up Thursday night against the AFC North-leading Pittsburgh Steelers. Canadian Press Nov 21, 2024 3:59 PM Nov 21, 2024 4:05 PM Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Cleveland Browns offensive tackle Dawand Jones (79) is carted off the field after an injury in the first half of an NFL football game against the New Orleans Saints in New Orleans, Sunday, Nov. 17, 2024. (AP Photo/Butch Dill) CLEVELAND (AP) — Germain Ifedi became the fourth left tackle to start this season for the Cleveland Browns, lining up Thursday night against the AFC North-leading Pittsburgh Steelers. Ifedi moved up the depth chart and into the lineup after starter Dawand Jones broke his left leg last week at New Orleans and had surgery. He'll be responsible for blocking quarterback Jameis Winston's blindside. Jedrick Wills Jr., who had lost his starting job to Jones, figured to start against the Steelers (8-2), but was ruled out Wednesday with a knee injury that has bothered him for weeks. A first-round pick in 2020, Wills recently caused a stir by saying he made a “business decision” to sit out a game on Oct. 27 against Baltimore because of his knee. Coach Kevin Stefanski said Wills used a “poor choice of words.” James Hudson started Cleveland's first two games at left tackle while the Browns (2-8) waited for Wills to recover from knee surgery in December. The first-place Steelers were without outside linebacker/edge rusher Alex Highsmith, who missed his second straight game with an ankle injury. ___ AP NFL: https://apnews.com/hub/nfl The Associated Press See a typo/mistake? Have a story/tip? This has been shared 0 times 0 Shares Share by Email Share on Facebook Share on X Share on LinkedIn Print Share via Text Message Get your daily Victoria news briefing Email Sign Up More Football (NFL) Ravens' Jackson, Chargers' Herbert will take center stage once Harbaugh Bowl kicks off Monday night Nov 21, 2024 4:26 PM Buccaneers and Giants are facing desperate times heading into their final 7 games Nov 21, 2024 4:15 PM NFL Inactive Report Nov 21, 2024 4:00 PMUS President-elect Donald Trump asked the Supreme Court on Friday to pause the potential TikTok ban from going into effect until his administration can pursue a “political resolution” to the issue. The request came as TikTok and the Biden administration filed opposing briefs to the court, in which the company argued the court should strike down a law that could ban the platform by January 19 while the government emphasised its position that the statute is needed to eliminate a national security risk. “President Trump takes no position on the underlying merits of this dispute. Instead, he respectfully requests that the court consider staying the Act’s deadline for divestment of January 19 2025, while it considers the merits of this case,” said Mr Trump’s amicus brief, which supported neither party in the case. The filings come ahead of oral arguments scheduled for January 10 on whether the law, which requires TikTok to divest from its China-based parent company or face a ban, unlawfully restricts speech in violation of the First Amendment. Earlier this month, a panel of three federal judges on the US Court of Appeals for the District of Columbia Circuit unanimously upheld the statute, leading TikTok to appeal to the Supreme Court. The brief from Mr Trump said he opposes banning TikTok at this junction and “seeks the ability to resolve the issues at hand through political means once he takes office”.Major stock indexes rose on Wall Street in afternoon trading Monday, after a choppy start to a holiday-shortened week. The S&P 500 rose 0.6%. The Dow Jones Industrial Average recovered from an early slide to gain 29 points, or 0.1% as of 3:40 p.m. Eastern time. The tech-heavy Nasdaq composite rose 0.8%. Gains in technology and communications stocks helped outweigh losses in consumer goods companies and elsewhere in the market. Semiconductor giant Nvidia, whose enormous valuation gives it an outsize influence on indexes, rose 3.3%. Broadcom climbed 5.5% to also help support the broader market. Walmart fell 2% and PepsiCo slid 1.2%. Japanese automakers Honda Motor and Nissan said they are talking about combining in a deal that might also include Mitsubishi Motors. U.S.-listed shares in Honda jumped 13.4%, while Nissan slipped 0.2%. Eli Lilly rose 3.5% after announcing that regulators approved Zepbound as the first and only prescription medicine for adults with sleep apnea. Department store Nordstrom fell 1.6% after it agreed to be taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal. The Conference Board said that consumer confidence slipped in December. Its consumer confidence index fell back to 104.7 from 112.8 in November. Wall Street was expecting a reading of 113.8. The unexpectedly weak consumer confidence update follows several generally strong economic reports last week. One report showed the overall economy grew at a 3.1% annualized rate during the summer, faster than earlier thought. The latest report on unemployment benefit applications showed that the job market remains solid. A report on Friday said a measure of inflation the Federal Reserve likes to use was slightly lower last month than economists expected. Worries about inflation edging higher again had been weighing on Wall Street and the Fed. The central bank just delivered its third cut to interest rates this year, but inflation has been hovering stubbornly above its target of 2%. It has signaled that it could deliver fewer cuts to interest rates next year than it earlier anticipated because of concerns over inflation. Expectations for more interest rate cuts have helped drive a roughly 25% gain for the S&P 500 in 2024. That drive included 57 all-time highs this year. Inflation concerns have added to uncertainties heading into 2025, which include the labor market's path ahead and shifting economic policies under an incoming President Donald Trump. "Put simply, much of the strong market performance prior to last week was driven by expectations that a best-case scenario was the base case for 2025," said Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Company Treasury yields rose in the bond market. The yield on the 10-year Treasury rose to 4.59% from 4.53% late Friday. European markets were mostly lower, while markets in Asia gained ground. Wall Street has several other economic reports to look forward to this week. On Tuesday, the U.S. will release its November report for sales of newly constructed homes. A weekly update on unemployment benefits is expected on Thursday. Markets in the U.S. will close at 1 p.m. Eastern on Tuesday for Christmas Eve and will remain closed on Wednesday for Christmas.
ALTOONA, Pa. (AP) — The man accused of killing UnitedHealthcare’s CEO struggled with deputies and shouted while being led into court Tuesday as new details emerged about his possible motivation behind the ambush. In his first public words since a five-day search ended with his arrest at a McDonald's in Pennsylvania, Luigi Nicholas Mangione emerged from a patrol car shouting about an “insult to the intelligence of the American people” while deputies pushed him inside a courthouse. The 26-year-old Ivy League graduate from a prominent Maryland real estate family is fighting attempts to extradite him to New York so that he can face a murder charge in the Manhattan killing of Brian Thompson , who led the United States’ largest medical insurance company. A law enforcement bulletin obtained by The Associated Press said that at the time of his arrest, Mangione was carrying a handwritten document expressing anger with what he called “parasitic” health insurance companies and a disdain for corporate greed and power. He wrote that the U.S. has the most expensive health care system in the world and that profits of major corporations continue to rise while “our life expectancy” does not, according to the bulletin. In social media posts, Mangione called “Unabomber” Ted Kaczynski — who carried out a series of bombings while railing against modern society and technology — a “political revolutionary,” according to the police bulletin. Mangione remained jailed in Pennsylvania, where he was initially charged with possession of an unlicensed firearm, forgery and providing false identification to police. Manhattan prosecutors were beginning to take steps to bring Mangione to New York, but at a brief hearing Tuesday, defense lawyer Thomas Dickey said his client will not waive extradition and instead wants a hearing on the issue. Mangione was denied bail after prosecutors said he was too dangerous to be released. He mostly stared straight ahead at the hearing, occasionally looking at papers, rocking in his chair or looking back at the gallery. At one point, he began to speak to respond to the court discussion but was quieted by his lawyer. “You can’t rush to judgment in this case or any case,” Dickey said afterward. “He’s presumed innocent. Let’s not forget that.” Mangione was arrested in Altoona, Pennsylvania, about 230 miles (about 370 kilometers) west of New York City, after a McDonald’s customer recognized him and notified an employee, authorities said. Images of Mangione released Tuesday by Pennsylvania State Police showed him pulling down his mask in the corner of the McDonald's while holding what appeared to be hash browns and wearing a winter jacket and beanie. In another photo from a holding cell, he stood unsmiling with rumpled hair. New York police officials have said Mangione was carrying a gun like the one used to kill Thompson and the same fake ID the shooter had used to check into a New York hostel, along with a passport and other fraudulent IDs. A law enforcement official who wasn’t authorized to discuss the investigation publicly and spoke with The Associated Press on condition of anonymity said a three-page, handwritten document found with Mangione included a line in which he claimed to have acted alone. “To the Feds, I’ll keep this short, because I do respect what you do for our country. To save you a lengthy investigation, I state plainly that I wasn’t working with anyone,” the document said, according to the official. It also said, “I do apologize for any strife or traumas but it had to be done. Frankly, these parasites simply had it coming.” Thompson, 50, was killed last Wednesday as he walked alone to a Manhattan hotel for an investor conference. From surveillance video, New York investigators determined the shooter quickly fled the city, likely by bus. Mangione was born into a life of country clubs and privilege. His grandfather was a self-made real estate developer and philanthropist. Valedictorian at his elite Baltimore prep school, he went on to earn undergraduate and graduate degrees in computer science in 2020 from the University of Pennsylvania, a spokesperson said. “Our family is shocked and devastated by Luigi’s arrest,” Mangione’s family said in a statement posted on social media late Monday by his cousin, Maryland Del. Nino Mangione. “We offer our prayers to the family of Brian Thompson and we ask people to pray for all involved.” From January to June 2022, Luigi Mangione lived at Surfbreak, a “co-living” space at the edge of touristy Waikiki in Honolulu. Like other residents of the shared penthouse catering to remote workers, Mangione underwent a background check, said Josiah Ryan, a spokesperson for owner and founder R.J. Martin. “Luigi was just widely considered to be a great guy. There were no complaints,” Ryan said. "There was no sign that might point to these alleged crimes they’re saying he committed.” At Surfbreak, Martin learned Mangione had severe back pain from childhood that interfered with many aspects of his life, from surfing to romance, Ryan said. Mangione left Surfbreak to get surgery on the mainland, Ryan said, then later returned to Honolulu and rented an apartment. Martin stopped hearing from Mangione six months to a year ago. ___ Scolforo reported from Altoona and Hollidaysburg, Pennsylvania. Contributing were Associated Press writers Cedar Attanasio and Jennifer Peltz in New York; Michael Rubinkam and Maryclaire Dale in Pennsylvania; Lea Skene in Baltimore; Jennifer Sinco Kelleher in Honolulu and John Seewer in Toledo, Ohio.Workday Announces Fiscal 2025 Third Quarter Financial Results
The support comes after Lively filed a complaint with the California Civil Rights Department (CCRD) against Baldoni and others on Friday (December 20) alleging sexual harassment and a social media “retaliatory campaign” during and after the production of Sony’s summer hit . Baldoni’s lawyer has called the allegations “completely false, outrageous and intentionally salacious.” Lively and Baldoni star in the romantic drama, which deals in part with domestic violence. Baldoni also directed the film, and Lively was also one of the producers. In a statement to NBC News on Monday (December 23), Heard, who in 2022 was in the spotlight during her defamation trial with ex-husband Johnny Depp (once a client of one of the PR companies named in Lively’s complaint), said: “Social media is the absolute personification of the classic saying ‘A lie travels halfway around the world before truth can get its boots on.’ I saw this first hand and up close. It’s as horrifying as it is destructive.” On X, Feig, who directed Lively in , said: “All I can say is she’s one of the most professional, creative, collaborative, talented and kind people I’ve ever worked with.” On Instagram Stories, Amy Schumer posted “I believe Blake” and Gwyneth Paltrow put Lively’s hair care line on her Christmas wish list. Colleen Hoover, author of the novel on which is based, posted to Lively on Instagram: “You have been nothing but honest, kind, supportive and patient since the day we met. Thank you for being exactly the human that you are. Never change. Never wilt.” Over the weekend, America Ferrera, Amber Tamblyn and Alexis Bledel, Lively’s co-stars in , posted a statement on Instagram: “As Blake’s friends and sisters for over twenty years,” said the statement, “we stand with her in solidarity as she fights back against the reported campaign waged to destroy her reputation.” The statements on the case came as the over the weekend about the dispute. The piece said documents including email exchanges between Baldoni and PR representatives hired around the release of “show an additional playbook for waging a largely undetectable smear campaign in the digital era.” The piece quoted a statement from Lively saying, “I hope that my legal action helps pull back the curtain on these sinister retaliatory tactics to harm people who speak up about misconduct and helps protect others who may be targeted.” Also at the weekend, Baldoni was dropped as a client by talent agency WME, which continues to represent Lively. As well as Baldoni, Lively’s CCRD complaint names production company Wayfarer Studios, producer Jamey Heath, Steve Sarowitz, crisis manager Melissa Nathan, The Agency Group PR, Jennifer Abel, RWA Communications, Jed Wallace and Street Relations Inc. The complaint details an agreement that Lively’s representatives negotiated laying out terms under which the actress would return to work on after the resolution of the 2023 SAG/AFTRA strike. The complaint states that Lively, “never sought out conflict with Wayfarer, Ms Baldoni, or Mr Heath, but instead consistently attempted to speak up for a safe and respectful workplace privately in the hopes of protecting herself, as well as the cast and crew, without jeopardizing a Film that she believed could make a difference in peoples’ lives. In response, Mr Baldoni, Mr Heath, and those working for them, sought to destroy Ms Lively and anyone else who knew the truth. Ms Lively’s discovery of the full extent of the retaliatory campaign launched by the Wayfarer Parties has left her with no choice.” Baldoni’s lawyer responded to the complaint with a statement saying, in part: “These claims are completely false, outrageous and intentionally salacious with an intent to publicly hurt and rehash a narrative in the media.”Gaetz withdraws as Trump's pick for attorney general, averting confirmation battle in the Senate