Congress Raising The Debt Ceiling Is Suddenly A Problem For Republicans
Politics, like fashion, can be cyclical. And in the coming weeks, America is about to go through the economic version of the return of low-rise jeans a baffling choice that even in theory benefits only a few select individuals, but in practice is a terrible look for everyone.
The debt ceiling, in case youve purged it from your memory, is the legal limit for how much debt the United States can take on as a country. Once that limit is hit, the U.S. Treasury can no longer issue bonds to raise funds to pay for, well, everything that the government does. During the Obama presidency, Republicans used the threat of the U.S. defaulting on its loans to force sharp budget cuts to nonmilitary spending. And now theyre set to do the same to President Joe Biden as Congress prepares to pass the cornerstone of his economic agenda.
However, when Donald Trump was in the White House, and the GOP controlled Congress, the debt ceiling apparently was less of a concern. The cap on government debt was boosted under Trump first in late 2017 for three months in a deal with the Democrats. That had to be raised again thanks to the GOPs huge tax cuts for the wealthy and businesses as part of a broader spending bill he signed in 2018. Then, after Democrats took control of the House in 2019, Trump signed a budget that suspended the debt ceiling, then $22 trillion, entirely until this July.
Trump Imposes New Curbs On H
The new rule increases the existing wage levels for H-1B workers, raising them significantly from existing levels. There are four wage levels which is the minimum amount the employee should be paid depending on his skill and experience levels. The rule changes the prevailing wage levels 1-4 from the 17, 34, 50 and 67th percentiles to 45, 62, 78 and 95 percentile of surveyed wages from BLS for H-1B, H-1B1, E-3 and I-140s.
Our brain is curious things. Many of its aspects are yet to be discovered. A new study has now revealed an interesting function of our brain – that lets us navigate the social differences in our society and help us mingle.
Throughout American history, an uncomfortable truth has emerged: Presidents have lied about their health. In some cases, the issues were minor, in other cases quite grave. And sometimes it took decades for the public to learn the truth, reports AP.
Mueller Emphasizes That He Didn’t Clear Trump
He always used to say that he had a very high IQ, Res added, recalling her decade-plus working alongside him.
Trumps black-and-white view of intelligence was formed long before psychologists embraced a more nuanced definition of the term. In 1983, for example, developmental psychologist Howard Gardner put forward his theory of multiple intelligences, which stressed that people learn in many different ways and suggested IQ tests were too narrow.
Measuring someones intelligence is not simply a matter of taking one test with a sharpened No. 2 pencil. Donald Trump came of age before that whole notion, for sure, Blair said. Hes still thinking in terms of that No. 2 pencil.
Recently, however, IQ measurement has found increasing resonance among alt-right and white supremacist groups, who have linked IQ and race to argue for limits on immigration from certain ethnic groups.
President Donald Trump graduated in 1968 from the University of Pennsylvanias Wharton School. | Rusty Kennedy/AP Photo
Trump, who attended the Wharton School of business at the University of Pennsylvania, has an affinity for people who graduated from prestigious universities.
He warmed up to his former staff secretary, Rob Porter, once he learned that Porter attended Harvard University and was a Rhodes scholar at Oxford, according to two people familiar with the matter. This guy is so smart, hed sometimes tell other staffers of Porter. He was a Rhodes Scholar!
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Donald Trump Scores Top Marks In Montreal Cognitive Test
The cognitive test on which Donald Trump received a perfect score is considered a good screening tool for mental decline in an otherwise healthy person, medical experts said.
The US president asked to be administered a mental test and was given the Montreal Cognitive Assessment as part of a medical exam by Dr. Ronny Jackson, the White House physician, who on Tuesday said he had absolutely no concerns about Mr Trump’s neurological function. The president scored 30 out of 30.
Cognitive testing looks for signs of mild cognitive impairment and/or Alzheimers disease. It focuses on cognitive functions including memory, attention, language, abstraction, delayed recall and orientation.
Sample questions on the Montreal test include repeating a set of numbers in order both forwards and backwards and remembering a list of common words.
Test takers are asked to identify animals, and draw a clock face, putting in all of the numbers and setting the clock hands to a specific time. It takes about 10 minutes to administer.
One memory test involves memorising the words ‘face’, ‘velvet’, ‘church’, ‘daisy’, ‘red’ and recalling them after five minutes.
Another test challenges participants to name as many words as they can in one minute that begin with the letter F.
“It’s a screening assessment that we use routinely in the clinics to determine whether someone has some degree of cognitive impairment or not,” he said.
Donald Trump: Will Cannabis Tsx Stocks Have Hope
Donald Trump has opted for neutrality on the cannabis questions in the United States, preferring to punt to individual states. Although Trump does not have the hostile history that Biden possesses towards cannabis, he is not great friend. This means Canopy Growth and other top TSX stocks in the cannabis space will still look unattractive in the event of a Trump upset.
The prospects for cannabis are dim going forward regardless of who sits in the White House in 2021. That means investors should look elsewhere for growth as we approach the final months of this momentous year.
This article represents the opinion of the writer, who may disagree with the official recommendation position of a Motley Fool premium service or advisor. Were Motley! Questioning an investing thesis even one of our own helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.
Fool contributor Ambrose O’Callaghan has no position in any of the stocks mentioned. The Motley Fool owns shares of EXCO TECH.
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Biden Hails Progress On Covid
7 Min Read
WILMINGTON, Del./WASHINGTON – President-elect Joe Biden hailed Pfizer Incs progress toward a COVID-19 vaccine on Monday but urged Americans to wear masks because it may not be widely available for many months, as President Donald Trumps administration tried to claim credit.
Pfizer said its experimental COVID-19 vaccine was more than 90% effective here as it disclosed the first successful interim data from a large-scale clinical test. That was major progress in the quest for a vaccine to combat a pandemic that has killed more than 237,000 Americans, thrown millions more out of work and contributed to Trump’s defeat in last Tuesday’s election.
The drugmaker developed its vaccine outside of the White Houses Operation Warp Speed program, although the U.S. government placed an initial order in July for 100 million Pfizer COVID-19 vaccine doses for $1.95 billion and can acquire up to 500 million additional doses. Operation Warp Speed pumped billions of dollars into six other pharmaceutical companies intended to accelerate development of a COVID-19 vaccine.
Pfizer also was one of a number of companies to be part of a public-private partnership launched by the U.S. National Institutes of Health in April to speed COVID-19 vaccine and treatment options.
Vice President Mike Pence on Twitter credited a public-private partnership forged by Trump for Pfizers vaccine development progress.
I IMPLORE YOU
Turning Unpaid Debt Into Canceled Debt
Why didnt the lenders seize the building?
Going to court to take over the unfinished skyscraper promised to be a costly, yearslong process, especially given Mr. Trumps reputation for using the legal system to drag out fights and grind down opponents. It seemed simpler to resolve the dispute.
On July 28, 2010, lawyers for Mr. Trump, Deutsche Bank and Fortress notified the court that they had reached a private settlement. The terms werent disclosed.
But Mr. Trumps federal tax returns, as well as loan documents filed in Cook County, Ill., provide clues to what happened: Mr. Trump was let off the hook for about $270 million. It was the type of generous financial break that few American companies or individuals could ever expect to receive, especially without filing for bankruptcy protection.
Before Mr. Trump defaulted, Fortress had expected to receive more than $300 million from his company: the $130 million in principal and roughly $185 million in anticipated interest and fees.
But Fortress and its partners including Mr. Mnuchins Dune Capital, as well as Cerberus Capital Management, whose co-chief executive, Stephen A. Feinberg, would become a major Trump fund-raiser and go on to lead a White House advisory panel quickly realized they wouldnt ever collect that full amount.
Ultimately, Fortress settled for $48 million, which Mr. Trump wired to the firm in March 2012, according to people familiar with the deal.
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How To Build Your Credit
Lenders want to know you are trustworthy as a borrower. Since they use existing credit to help predict your ability to pay, it’s beneficial to build up that trust in the form of having creditors you pay off timeously. Doing so will build your credit report and score, which are needed if you ever want to buy a car or get a credit card.
It can take time and patience to build your credit, but it can be done if managed responsibly. Here are 10 steps to begin building your credit.
Check your credit report for errors
Request a free annual credit report from one of the three nationwide consumer credit-reporting bureaus Equifax, Experian and TransUnion and go through it carefully. Dispute any damaging errors you may find, like late payments that were actually paid on time, by sending the credit agency a certified letter explaining what information is inaccurate.
Pay your bills on time
One of the most significant contributing factors to a credit score is making payments on time to your lenders and creditors. Even one overdue payment can damage your score, but you can improve it if you have a record of consistent, on-time payments. Setting up an automatic bill-payment plan will help make sure you don’t ever skip a payment.
Deal with any missed payments
Keep your balances as low as possible
If you do have high balances, pay your credit card bill early
Dont close old accounts
Use your old cards
Dont apply for too much credit at the same time
Show youre trying to be responsible
Why You Should Care About Changes To The Cfpb
It’s unlikely that Kraninger will completely dismantle the CFPB in the near future, but it is clear that she will continue shifting away from the Bureau’s historically consumer-friendly approach. The mission of the CFPB was already altered in a memo Mulvaney sent to his staff issued in early 2018, which states that the CFPB will stop treating financial institutions as the “bad guys” and will instead represent their interests in addition to the interests of consumers.
What does this mean for the average consumer? Supporters of Trump’s appointees argue that removing harsh regulations and levying fewer fines on the financial industry would be a win-win situation. The cost of financial services will go down, and consumers will gain access to a wider range of financing options.
Opponents of the hands-off approach argue that deregulation will put consumers at risk and cost them money all so that banks and credit card companies can enjoy even bigger profit margins. Some accuse Mulvaney of ulterior motives, noting that he guided the CFPB to drop a lawsuit against payday lenders charging 900% interest rates after, according to the president of the Center for Responsible Lending Mike Calhoun, accepting more than $60,000 in campaign donations from payday lenders when he was in Congress.
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