US Navy needs major funding boost to meet shipbuilding goals
There is no greater projection of global power than a nation’s navy. For decades, the United States Navy was the gold standard. If it wants to keep that designation, though, the U.S. Navy says it needs to buy more boats, which is going to cost tens of billions of dollars more per year than what the service currently receives in funding.
This news is coming from the Congressional Budget Office and its report on the Navy’s latest shipbuilding plans. Over the course of the next three decades, the Navy wants to grow the size of its current fleet from 296 battle force ships to 381. It would be the largest U.S. naval fleet since 2001, and it won’t be cheap to get there.
The service currently operates on a yearly budget of $340 billion. The CBO said that number needs to be boosted by at least another $85 billion to make the Navy’s shipbuilding plans a reality.
Getting to 381 ships by 2054 would also mean the fleet would actually shrink a bit in the near term. By decommissioning some older vessels, the Navy hopes to reallocate money that would be spent on upkeep and maintenance and put it toward the purchase of new vessels.
The realities of budget constraints are also forcing the Navy to rethink which ships it’s purchasing now, opting for proven vessels over more expensive next-gen models.
Under the 2024 shipbuilding plan, for instance, the Navy was slated to buy 34 next-generation attack submarines. In the 2025 plan, that number was reduced to 14, while the number of Virginia-class submarines was increased from 10 to 36.
Getting to 381 battle force ships would equate to spending at least $903 billion over the next 30 years. When outfitting and other costs are factored in, the CBO said it’s probably closer to $1.075 trillion.
Hitting the 381 mark would also mean producing 12 new vessels per year. American shipyards are already at capacity, and the Navy’s backlog to make all of its known repairs is sitting at about 20 years. So, needless to say, the CBO is skeptical if the Navy can succeed on its ambitious push to modernize.
But it needs to, at least according to most lawmakers in Washington.
China is preparing for war. The People’s Liberation Army was told numerous times it should be ready to take Taiwan by force in 2027. China’s shipbuilding far outpaces current U.S. capacity, and the PLA navy’s aggressive actions in the Indo-Pacific are only growing more hostile. The United States is legally obligated to defend allies in the region, as well. So, if those hostilities do erupt into a kinetic conflict, the U.S. Navy will be vital.
House approves spending bill to avoid government shutdown
Democrats and Republicans in the House voted overwhelmingly to approve a bill to keep the government open until Friday, March 14. The bill passed just hours before the government was set to shut down.
Notably, the bill –– known as a continuing resolution –– did not maintain the debt ceiling suspension, something President-elect Donald Trump advocated for. However, it did include language from the annual Farm Bill as well as disaster relief aid.
Rep. Mark Alford, R-Mo., delivered a holiday-themed pitch on the House floor before the vote.
“‘Twas five days before Christmas and all through this House, not a lawmaker was resting, not even their spouse. The [continuing resolution] stalled, the debates full of heat, while a shutdown shadow loomed over our streets. My friends, it’s time to fund our defense and aid for our farms and disaster relief to protect our very own citizens from harm,” Alford said.
The House has revised the bill multiple times over the last few days. House Speaker Mike Johnson, R-La., did not move the first version forward after it received extensive public criticism on Wednesday, Dec. 18, from Elon Musk and the president-elect.
A second version, released Thursday, Dec. 19, would have raised the debt ceiling, but it fell short despite Trump and Musk’s backing. Thirty-eight House Republicans joined Democrats in voting against that bill.
Democrats mostly supported the bill but criticized Musk, accusing him of sabotaging and complicating the process.
“At the behest of the world’s richest man who no one voted for, the Congress has been thrown into pandemonium,” Rep. Rosa DeLauro, D-Conn., said.
“It leads you to the question of; who is in charge? I thought that there was a Republican majority in this body. Not a President Musk majority,” DeLauro added.
The final version of the bill also removed funding for a bipartisan program for pediatric cancer research, as well as research into other diseases, including Down syndrome, and options to treat and detect sickle cell disease, breast cancer and cervical cancer.
A separate bill for pediatric cancer research that passed in the House last March is still awaiting a vote, but Senate Democrats have not brought it up. Republicans have said they support that bill and believe the Senate should approve it there, as opposed to making it part of the continuing resolution.
In the hours following the passage of the continuing resolution, the Senate voted unanimously to approve the bill the House passed last March. That legislation now heads to President Biden’s desk.
Government shutdown looms as House votes against latest funding bill
A government shutdown looms nearer after the House rejected a bill that would have kept it funded into March. And drones are now banned in parts of New York and New Jersey after a spate of mysterious sightings. These stories and more highlight your Unbiased Updates for Friday, Dec. 20, 2024.
House votes against latest stopgap bill aimed to avoid government shutdown
The House rejected a stopgap bill Thursday, Dec. 19, that would have kept the government running. The vote came ahead of a potential shutdown starting at midnight Saturday, Dec. 21, when lawmakers head home for the holidays.
The bill fell short of the needed two-thirds majority to speed up its passage. More than three dozen Republicans joined 197 Democrats in voting against it. Republicans split with each other on how the bill handles government spending.
“Three hundred and thirty billion dollars. Congratulations. You’ve added to the debt since you were given the majority again on Nov. 5,” Rep. Chip Roy, R-Texas, said.
Roy voted against the bill.
He added, “It’s embarrassing. It’s shameful. Yes, I think this bill is better than it was yesterday in certain respects. But to take this bill, to take this bill yesterday and congratulate yourself because it’s shorter in pages but increases the debt by $5 trillion, is asinine.”
Meanwhile, Rep. Anna Paulina Luna, R-Fla., said on the House floor, “The deal on the table will keep the government open for the American people and if you guys so choose to shut it down, it will be on you but not the Republican Party.”
She added, “We will not be going back to the table. This deal stands as it is. So let you go back home on Christmas and explain to your people why you shut down the government because we won’t be doing it.”
The latest spending bill, known as a continuing resolution, is a quickly amended bill tailored to the liking of President-elect Donald Trump and his top ally Elon Musk.
Musk postedrepeatedlyonX condemning the original bill. House Speaker Mike Johnson, R-La., worked on it with bipartisan support from Republicans and Democrats.
However, when both Musk and Trump opposed the bill, that guaranteed most House Republicans would vote against it and forced Johnson to craft a new bill.
Now, there are two conflicting interests. Musk wants major government spending cuts, and while Trump agrees, he also wants to permanently suspend the debt ceiling.
The new plan lifts the debt limit, leading Trump to support the bill in a Truth Social post.
“Now we can Make America Great Again, very quickly, which is what the People gave us a mandate to accomplish,” Trump posted.
But Democrats attacked the bill over what spending Republicans chose to cut.
“The Musk-Johnson proposal is not serious, it’s laughable,” said House Minority Leader Rep. Hakeem Jeffries, D-N.Y. “Extreme MAGA Republicans are driving us to a government shutdown.”
The bill removed funding for a bipartisan program for pediatric cancer research, studying genetic conditions like Down syndrome and treatment options for sickle cell disease as well as cancers.
It will be on Johnson to craft a bill to secure votes from the majority of the House.
However, Johnson may not have the political leeway to rely on support from Democrats. He’ll need nearly every returning member of the House Republican caucus to vote for him next month to remain speaker.
The new Congress takes office in the new year.
New details of accused UnitedHealthcare CEO shooter’s plan emerge
Newly unsealed court documents put into perspective what led up to the deadly shooting of UnitedHealthcare CEO Brian Thompson. A federal complaint shed light on 26-year-old Luigi Mangione’s “hostility toward the health insurance industry and wealthy executives in particular.”
In a notebook found on Mangione when he was arrested, he allegedly wrote of his plans to “wack” an insurance company CEO at its investor conference. Federal prosecutors said he traveled from Georgia to New York to stalk and kill Thompson.
Magione appeared in a New York courtroom Thursday, and four new federal charges were levied against him. The charges included murder with a firearm, which is an offense punishable by the death penalty.
The hearing followed Mangione’s extradition from Pennsylvania, where police arrested him on Dec. 9, to New York.
Armed guards surrounded Mangione as NYPD officers walked him off a helicopter upon his arrival in Manhattan. New York City Mayor Eric Adams joined the walk.
“Police Commissioner [Jessica] Tisch and I all want to send a very clear and loud message that this act of terrorism and the violence that stems from it is something that will not be tolerated in this city,” Adams told the press at the site of the helicopter arrival.
Mangione already faces state-level charges in New York. Manhattan District Attorney Alvin Bragg brought charges against him Tuesday, Dec. 17, including for murder as an act of terrorism.
However, Mangione also received a hero’s welcome from protesters outside the courthouse. Thompson’s killing sparked backlash against the health insurance industry and its coverage policies.
While judges have not set any dates yet, Mangione will face state-level charges first. A federal trial will follow.
New York abolished the death penalty, meaning it’s not an option for Mangione in the state-level case. However, the death penalty can still be exercised in the federal case.
FAA temporarily bans drones in parts of New York and New Jersey
Drones are now banned in parts of New York and New Jersey — at least for the time being. It comes amid an investigation into multiple mysterious sightings over the last month that set off fear and speculation.
In a statement, New York Gov. Kathy Hochul said the Federal Aviation Administration’s bans are “purely precautionary.” Meanwhile, the FAA’s restrictions in New Jersey are largely aimed at limiting drone flights over power stations and infrastructure.
The FAA implemented emergency flight restrictions across New Jersey, prohibiting drone operations until Jan. 17, 2025, for “special security reasons.” Unless operators obtain special government clearance, the directive bans uncrewed aircraft within a one-nautical-mile radius of designated areas and up to 400 feet in altitude.
The FAA designated areas such as Camden, Jersey City, Elizabeth and South Brunswick as “National Defense Airspace.”
Violators may face severe penalties, including interception, detention, certificate revocation and potential criminal charges. In extreme cases, authorities are authorized to use “deadly force” against drones posing an “imminent security threat.”
These restrictions follow a surge in unexplained drone sightings across New Jersey and nearby states that began in mid-November. Federal agencies, including the Federal Bureau of Investigation (FBI) and the Department of Defense (DOD), received over 5,000 reports of drone activity.
Dow Jones snaps worst losing streak in 50 years
The Dow Jones Industrial Average snapped its worst losing streak in 50 years Thursday. The losing streak lasted 10 days.
During the losing streak, the market wiped out all of its post-election gains. The Dow ended Wednesday down 2.5% from when Trump won the election.
Also on Wednesday, Wall Street’s fear gauge, the CBOE Volatility Index, had its second-biggest percentage spike in history. The VIX shot up 74% after the Federal Reserve shared its outlook for the coming year.
On Wednesday, the Fed cut its benchmark interest rate for a third time in 2024, which was widely predicted.
Feeling the holiday blues?
The holidays are often called “the most wonderful time of the year,” but the season can bring about sadness and stress for many. This -emotional shift, commonly known as the “holiday blues” or seasonal affective disorder (SAD), can affect millions of people across the country.
Licensed adult psychiatrist Dr. Patrice Mann said the holiday blues are due to several factors. They include social pressures, disruptive routines and financial strain.
“Things like having a bunch of holiday events on the calendar, not to say we don’t look forward to them oftentimes, but they take a toll on us,” says Dr. Mann. “You’re up late, interacting with a lot of people, and that’s not everyone’s nature.”
Grief and seasonal depression can also complicate these feelings. According to the National Institute of Mental Health, seasonal depression affects millions of Americans every year, but many may not even realize they have it.
Symptoms of holiday blues and seasonal depression can include a persistent low mood, loss of interest in activities and changes in eating or sleeping habits. If these symptoms last more than two weeks, Dr. Mann said it could indicate a more serious depressive episode. In such cases, seeking professional help is important.
Dr. Mann recommended several self-care strategies to help manage both the holiday blues and seasonal depression. She suggested getting tested for vitamin D deficiency and taking supplements during winter. Vitamin D plays a vital role in mood and energy levels.
She also advised getting as much sunlight as possible during the shorter winter days. Light therapy boxes can mimic outdoor sunlight if natural sunlight isn’t available. Using them for 20 to 30 minutes in the morning can help trick the brain and improve mood.
For those experiencing grief during the holidays, Dr. Mann encouraged reflecting on personal needs and communicating with trusted friends or family members. She also recommended incorporating new social activities into your routine and checking in with yourself after attending events.
For those supporting others through grief, it’s important to recognize that everyone processes emotions differently. Dr. Mann suggested engaging in activities with those less open about mental health, such as cooking or playing games, to help create a comfortable environment for them to express themselves.
While the holiday season brings unique challenges, small steps can make a big difference. Prioritizing self-care, maintaining routines and reaching out for support are important practices to help manage holiday stress.
If you or someone you know is struggling, remember that professional help is available. The National Suicide Hotline is available 24 hours a day by calling 988.
Amazon workers strike as last-minute holiday shopping rush gets underway
As the final days of the holiday shopping season begin, Amazon workers nationwide are going on strike. And the CDC announces the first severe case of bird flu in a human in the United States. These stories and more highlight your Unbiased Updates for Thursday, Dec. 19, 2024.
Amazon workers strike as last-minute holiday shopping rush gets underway
As shoppers have less than a week now to cross off their holiday lists, Amazon workers across the country are headed to the picket lines. Thousands of Amazon employees are striking after the International Brotherhood of Teamsters said the company ignored its Dec. 15 deadline for contract negotiations.
The Teamsters represent nearly 10,000 workers at 10 Amazon facilities. That accounts for about 1% of the company’s hourly workforce.
A facility in New York’s Staten Island became Amazon’s first-ever unionized warehouse in 2022, but since then, workers there have said the company has refused to recognize the union and negotiate a contract.
In a statement on X, Teamsters President Sean O’Brien said, “If your package is delayed during the holidays, you can blame Amazon’s insatiable greed. We gave Amazon a clear deadline to come to the table and do right by our members. They ignored it.”
TEAMSTERS LAUNCH LARGEST STRIKE AGAINST AMAZON IN AMERICAN HISTORY
The Teamsters will launch the largest strike against Amazon in U.S. history beginning at 6 a.m. EST on Thurs., Dec. 19. The nationwide action follows Amazon’s repeated refusal to follow the law and bargain with… pic.twitter.com/A06NKciCDB
“The truth is that the teamsters have actively threatened, intimidated, and attempted to coerce amazon employees and third-party drivers to join them, which is illegal,” Amazon spokesperson Kelly Nantel said in a statement.
The Seattle-based online retailer seeks to re-do the election that led to the union victory in Staten Island. It filed a lawsuit challenging the constitutionality of the National Labor Relations Board.
Despite the Teamsters calling this strike the largest in Amazon’s history, the company said it does not expect the strike to impact operations.
Israeli airstrikes target Houthi infrastructure in Yemen
The Israeli military carried out a series of airstrikes in Yemen early Thursday, Dec. 19, killing at least nine people. The strikes happened right after Israel said it intercepted a Houthi missile targeted at the central part of the country.
The Israel Defense Forces (IDF) said it was a coincidence, and Thursday’s strikes targeting the Iran-backed militant group’s infrastructure were in the works for months.
⭕️ IAF fighter jets struck military targets belonging to the Houthi terrorist regime on the western coast and in inland Yemen.
Over the past year, the Houthi terrorist regime has been operating with the direction and funding of Iran, and in cooperation with Iraqi militias in… pic.twitter.com/hYNRstbhxP
“Over the last 14 months, the Iran-backed Houthi terror regime in Yemen has launched hundreds of missile and UAV attacks against the State of Israel,” Israeli military spokesperson Rear Adm. Daniel Hagari said in a video statement. “In the last two weeks only, the Houthis fired a drone that hit an apartment block in southern Israel, and on Sunday [Dec. 15], they fired a long-range missile towards central Israel. The Houthis have been carrying out attacks against Israel in violation of international law.”
Hagari added, “Israel will not hesitate to act in order to defend itself and its citizens from the Houthi’s attacks.”
The strikes risk escalating the ongoing conflict with the Houthis, whose attacks on the Red Sea corridor have drastically impacted global shipping. The Houthis started launching those attacks after Hamas — another group backed by Iran — attacked Israel on Oct. 7, 2023. The October ambush started the ongoing war in Gaza.
Government shutdown looms as Trump, Musk reject stopgap bill
It’s back to the drawing board for congressional leaders as the stopgap spending bill to avert a government shutdown this weekend is reportedly in jeopardy. The 1,500-page measure aimed to extend government funding through mid-March. A government shutdown is possible if Congress doesn’t take action by Friday night’s deadline.
The bill included aid for farmers and disaster victims and a pay raise for members of Congress, among many other items. On Wednesday, Dec. 18, President-elect Donald Trump and tech billionaire Elon Musk rejected the bill.
Musk, who will lead Trump’s Department of Government Efficiency come January, posted about the bill to X more than 100 times. He warned congressional members who vote for the bill, saying they “deserve to be voted out in two years!”
Trump echoed the sentiment, saying Republicans who vote in favor of the bill need to be “primaried.” He released a joint statement with Vice President-elect JD Vance, saying Congress should pass a “streamlined spending bill.”
Trump said the bill should be paired with a measure suspending the debt limit.
It’s unclear what steps House Speaker Mike Johnson will take, but he held a late-night meeting with lawmakers in his office Wednesday.
Following the meeting, House Majority Leader Steve Scalise confirmed the original stopgap bill was dead and hoped the House could find a resolution Thursday.
Teacher, student killed in Wisconsin school shooting identified
Authorities identified the teacher and student killed during a shooting inside a Madison, Wisconsin, school earlier this week. The medical examiner released their names late Wednesday evening, a day after a vigil was held for the victims.
Erin M. West, 42, and Rubi P. Vergara, 14, were pronounced dead at the scene.
Police said the suspected shooter, 15-year-old Natalie “Samantha” Rupnow, opened fire in a classroom at Abundant Life Christian School on Monday morning, Dec. 16. She killed two and injured six others before turning the weapon on herself, police said.
Two students remain hospitalized with life-threatening injuries. Four others, identified as three students and a teacher, were released from the hospital.
As the investigation continues, authorities said they recovered two guns at the school, but only one was used during the shooting. They said the motive appears to be a combination of factors.
CDC confirms first severe human case of bird flu in the US
The Centers for Disease Control and Prevention (CDC) confirmed the first severe human case of bird flu in the U.S. A patient in Louisiana has been hospitalized in critical condition with severe respiratory symptoms, state health officials said.
Officials said the patient is over the age of 65 with underlying medical conditions. The CDC said the person has a version of the virus recently found to be spreading in wild birds and poultry in the U.S. It was also found in some human cases in Canada and Washington state.
This version of the illness is different from the specific version of the virus that’s been spreading in dairy cows across the U.S.
California Gov. Gavin Newsom declared a state of emergency over bird flu since the state has the highest number of infected cattle in the U.S. Since April, 61 human cases of bird flu have been reported in the U.S.; 33 of them in California.
ABC reaches new deal with George Stephanopoulos days after Trump settlement
George Stephanopoulos signed a new deal with ABC News, securing his position as anchor of “Good Morning America.” The Los Angeles Times was the first to report on the new contract.
While details about his offer are unknown, he’s previously been one of the highest-paid faces on television, earning $18 million a year.
The agreement comes amid speculation about his future with the network after Disney paid $15 million in a legal settlement over comments Stephanoupolos made about Trump during an interview in 2024.
The libel lawsuit revolved around the anchor saying Trump was “found liable for rape” in the case with writer E. Jean Carroll. The jury in that civil case had actually found Trump liable for sexual abuse. Reports suggested Stephanopoulos was blindsided by ABC’s settlement.
His new contract with ABC comes as parent company Disney is said to be looking to trim costs, which follows a trend right now among media giants. Many are scaling back amid a shift in the industry.
Congressional leaders unveil a stopgap bill to fund the government until March. And a mega-merger between Nissan and Honda might be revving up. These stories and more highlight your Unbiased Updates for Wednesday, Dec. 18, 2024.
Congressional leaders unveil stopgap government funding bill
With just days left to prevent a shutdown, Congress unveiled a stopgap bill to keep the government funded into March. It’ll be down to the wire with the Dec. 20 deadline, as House leaders are supposed to wait 72 hours before bringing proposed legislation to the floor for a vote. This practice allows lawmakers time to review the bill.
House Speaker Mike Johnson said Tuesday, Dec. 17, that he believes in adhering to the 72-hour rule, but with the deadline approaching so quickly that might not be feasible.
This new stopgap bill includes more than $100 billion in disaster aid, a one-year extension to the farm bill, $10 billion in economic assistance to farmers, a bill to renew expiring health care programs and a measure to restrict U.S. investments in China.
Right now, the government is funded through Friday by a different stopgap measure approved by lawmakers in September.
I am particularly proud that this bill advances some of my key priorities including strong proposals to help the United States out-compete the Chinese Communist Party. pic.twitter.com/k73axXhUl0
In a statement last night, Senate Majority Leader Chuck Schumer said he’s “pleased these negotiations led to a bipartisan government funding agreement free of cuts and poison pills, while also securing Democratic priorities like millions for child care, workforce training and job placement, assistance for the key bridge rebuild, additional disaster relief funding and more.”
If approved, this new stopgap bill would keep the government open through March 14, after the GOP has gained control of both the House and Senate.
Luigi Mangione charged with first-degree murder as an act of terrorism
In a press conference Tuesday, Manhattan District Attorney Alvin Bragg called the shooting outside a Manhattan hotel a “frightening, well-planned, targeted murder intended to cause shock and attention and intimidation.”
Mangione faces 11 counts, including two second-degree murder charges. If convicted, he faces life in prison without parole.
Mangione, who remains in a Pennsylvania prison, is set for two hearings on Thursday, Dec. 19. One for charges he faces in the Keystone State and another hearing for his extradition to New York.
Baltimore County Police Chief Robert McCullough said officers responded to reports of shots fired at around 7:15 p.m. Tuesday and found a vehicle lying on its side in flames. McCullough said it appears the car was involved in an incident that caused it to crash and catch on fire but did not say how that was related to the shooting.
“We know that there are some additional scenes that we’re investigating right now where other gunfire took place throughout the neighborhood,” McCullough said. “And that was evidenced by the multiple calls for service from the neighbors who were calling 911 about the gunshots in the community.”
McCullough said the incident was “intentional and targeted.” No arrests have been made in connection with this case.
Madison school shooting motive appears to be ‘combination of factors’: Police
Wisconsin authorities provided more information on Tuesday about the shooting inside a Christian school classroom that left three dead: a teacher, a student and the 15-year-old suspect.
In a press conference, Madison Police Chief Shon Barnes said the motive appears to be “a combination of factors.” Barnes added investigators are speaking with other students to see if bullying was one of those factors.
“Some have asked if people were specifically targeted,” Barnes said. “Everyone was targeted in this incident, and everyone was put in equal danger.”
Barnes said investigators are looking into the suspect’s social activity. Police identified the suspect as Natalie Rupnow and asked anyone who knew her to contact them.
Police said Rupnow opened fire Monday morning, Dec. 16, during a study hall full of students from multiple grade levels at Abundant Life Christian School. She struck several people before shooting herself. Six others were injured in the shooting and two remain in critical condition.
Nissan shares surge amid rumors of merger with Honda
Shares for Nissan surged following reports of potential merger talks with Honda. Both automotive giants released a statement to media confirming the whispers of a possible “business integration,” but not confirming any decisions set in stone yet.
The two have already collaborated on electric vehicles and battery technology, but the companies could benefit from deepening ties as both have seen challenges this year.
Nissan and Honda have seen dwindling sales in China, the world’s largest car market. Additionally, both automakers are navigating a slow shift to the electric vehicle market amid growing competition.
Talks of the potential merger saw Nissan shares notch their best day in more than 40 years with a 24% surge, though Honda saw a dip.
Some reports suggested the two will sign “a memorandum of understanding” on the potential deal soon. Mitsubishi is said to be a potential third player in the mix.
Tom Cruise receives Navy’s Distinguished Public Service Award
Nearly 40 years after he first starred as Pete “Maverick” Mitchell in the film “Top Gun,” actor Tom Cruise was awarded the U.S. Navy’s top civilian honor on Tuesday.
“I admire all of the servicemen and women,” Cruise said during the ceremony. “I know in life something that is very true to me is that is to lead is to serve, and I know that to my core. And I see that in the servicemen and women. I see that in you, and you understand that. And I appreciate everyone’s dedication. And it’s a true honor to represent them. And I’m just very proud.”
The Navy said the 62-year-old actor’s efforts in the film industry have increased public awareness and appreciation for its “highly trained personnel and the sacrifices they make while in uniform.”
As for what’s next for Cruise, his film “Mission: Impossible — The Final Reckoning” is set to be released in theaters in May.
Ramaswamy says DOGE will scrutinize Rivian loan and CHIPS Act awards
Department of Government Efficiency co-chair Vivek Ramaswamy is going to put President Joe Biden’s “last-minute spending spree” under a microscope. He claims the funding awarded months before a power transition is inappropriate and will receive special scrutiny.
“Anybody who’s offering recommendations, you should always have a skeptical lens to look at what are their motivations for making that recommendation,” Ramaswamy said about conflicts of interest during CNBC’s CFO Council Summit Wednesday, Dec. 4. “I say that’s the best advice I’d give the public: Always be skeptical when somebody’s making a recommendation.”
During a Q&A at the event, Ramaswamy said he doesn’t believe the loan to Rivian will be paid back.
The loan in question will be used to build a factory in Georgia. It won’t be finalized until both the Energy Department and Rivian sign off on the contract. The New York Times reported it is expected to happen before President-elect Donald Trump’s inauguration.
The DOE said its “Loan Programs Office provides attractive debt financing for high-impact, large-scale energy infrastructure projects in the United States.”
Ramaswamy says no program will escape DOGE, including “last minute [Inflation Reduction Act], CHIPS Act, and countless other federal spending sprees authorized under Biden.”
Those pieces of legislation are two of the biggest passed during the Biden administration. After Trump won the presidential election, Commerce Secretary Gina Raimondo spoke on the administration’s race against the clock.
“I’d like to have, really, almost all the money obligated by the time we leave,” Raimondo told Politico at the time. “That’s the goal. And I certainly want to have all the major announcements done as it relates to the big, leading-edge companies, and that’s our goal, and we’re working as hard as we can to make it happen.”
Ramaswamy took issue with the commerce secretary’s plan.
Biden’s Commerce Secretary @SecRaimondo says Jan 20 is “a clear deadline” for pushing $$ out the door: “I’d like to have really almost all of the money obligated by the time we leave.” This is highly inappropriate: they’re accelerating spending ahead of the transition of power. https://t.co/K3igDStJXS
“This is highly inappropriate,” he posted on X. “They’re accelerating spending ahead of the transition of power.”
In most cases, the funding has already been appropriated as part of large legislation or in funding to agencies that disperse the money. Only Congress has the authority to change appropriations. It remains unclear what authority DOGE would have to claw back those funds. On Thursday, Dec. 5, Ramaswamy and Musk pitched DOGE to lawmakers on Capitol Hill.
On Wednesday, Ramaswamy compared Biden’s spending to a company firing an executive, who in their final days, approved budgetary items that hadn’t been doled out.
Biden spent $100B on clean energy, aims for more before Trump takes over
The White House announced it has now committed over $100 billion to renewable energy projects under President Joe Biden. This development comes as the current administration works to maximize the deployment of funds from the Inflation Reduction Act (IRA) before President-elect Donald Trump takes office.
“Crossing the milestone of $100 billion awarded shows just how quickly we’re getting these funds out the door and into communities so they can make a real difference for the American people,” John Podesta, senior adviser to the president for clean energy innovation and implementation, said.
The Biden administration aims to allocate over 80% of the remaining IRA funding by the end of next month to prevent the incoming president from rescinding unspent money provided under this legislation. White House officials reportedly said they are on track to exceed this target.
Once funds are committed to a project through a signed government contract, they are legally protected and cannot be revoked, even under a new administration.
Trump indicated plans to eliminate unspent IRA funds and expressed interest in rolling back tax incentives for clean energy projects, including wind and solar installations. However, altering these subsidies would likely require congressional approval, a potentially challenging process despite a Republican majority.
Conservative-led states have been the primary beneficiaries of IRA funding. Nearly 60% of announced projects and 85% of investments tied to the legislation have been allocated to conservative congressional districts. In August 2024, 18 Republican House members urged Speaker Mike Johnson not to dismantle the IRA, warning that doing so could jeopardize significant investments in their states.
The DOGE Plan: Musk, Ramaswamy detail vision for government efficiency
Elon Musk and Vivek Ramaswamy gave further detail on their plans to teaming up with President-elect Donald Trump to overhaul the federal government through a new initiative, the Department of Government Efficiency (DOGE). The plan aims to cut federal regulations, reduce the government workforce, and save taxpayers billions by targeting wasteful spending.
Reuters
Musk and Ramaswamy detailed the DOGE plan in a Wall Street Journal op-ed published Wednesday, Nov. 20, emphasizing that many federal regulations exceed Congress’s authority and stifle economic growth. They intend to review these regulations under recent Supreme Court rulings, including West Virginia v. EPA and Loper Bright v. Raimondo, to recommend sweeping rollbacks via executive action.
The plan also calls for large-scale staff reductions across federal agencies, aligning workforce sizes with constitutionally mandated duties. DOGE’s leaders propose incentives for early retirement, voluntary severance and a mandatory return to in-office work schedules to encourage voluntary resignations.
Getty Images
On spending, the initiative targets more than $500 billion in annual expenditures Musk and Ramaswamy say are unauthorized or misused, including funds for international grants, public broadcasting and organizations like Planned Parenthood. The Pentagon’s failure to pass audits for seven consecutive years highlighted additional opportunities for savings through improved procurement processes.
Critics, including federal employee unions, warn the plan is out of touch with the practicalities of government operations and risks overstepping executive authority. Musk and Ramaswamy argued their approach will reduce bureaucratic overreach, aligning the federal government with constitutional principles by July 4, 2026.
Bible lessons in public school? Texas advances elementary school plan
The Texas State Board of Education has advanced a plan to incorporate Bible-based lessons into elementary school classrooms, marking one of the latest efforts by Republican-led states to introduce religious content into public education. The proposal, which would be optional for schools, includes financial incentives for those who adopt it, offering $60 per student in additional state funding.
Examples of Bible-based lessons include stories from the Book of Genesis and teachings such as the golden rule. The board is expected to hold a final vote on the proposal Friday, Nov. 22, after members voted 8-7 in favor of the curriculum during a preliminary vote.
The decision came after a series of testimonies from parents and educators, who shared their thoughts on including Bible lessons in public schools.
Board members expressed a range of views, with some supporting the plan and others opposing it. One supporter said, “People want to know why this curriculum would work, everything is birthed through prayer and the power of God.”
Opponents voiced concerns as well. One opponent said during public comment, “I believe that the Christian Bible is important and even foundational, but that voice should not be made by the state for my family or any other.” Another said, “If we try too much to be taken over by any one religion, we risk damaging the experience of children who have differing beliefs.”
One board member, who observed the lessons in classrooms, defended the curriculum: “I went and watched it, I’ve sat in the classrooms, and I think it works.”
Supporters argue that Bible teachings offer a holistic educational foundation, while opponents worry that the focus on Christianity could marginalize students from diverse religious backgrounds.
The curriculum proposal stems from a law passed earlier this year, which mandates the Texas Education Agency to create a free textbook with religious content. Republican Gov. Greg Abbott has expressed his support for the initiative.
This move is part of a broader trend among conservative lawmakers in Texas, who have also proposed displaying the Ten Commandments in classrooms, with plans to revisit the issue next year.
Texas is not alone in these efforts. In Oklahoma, state officials are seeking to include the Bible in public school lessons, though a lawsuit has been filed to block the plan. Meanwhile, in Louisiana, a federal judge recently struck down a law requiring the Ten Commandments to be displayed in public classrooms, ruling that it violated the separation of church and state.
The debate over religious teachings in public schools remains fierce, and while some states are moving forward with these measures, their future may ultimately be decided in the courts.
If the Texas board approves the Bible lessons on Friday, schools would have the option to adopt them for the upcoming school year in August 2025.
Biden administration requests $100B for disaster relief after hurricanes
The Biden administration is calling for bipartisan action and urging Congress to quickly pass a nearly $100 billion disaster relief spending bill. Around $40 billion of the money requested will go to FEMA’s disaster relief fund as Americans in the Southeast are still cleaning up from major back-to-back Hurricanes Helene and Milton.
Further, $24 billion would go to the Department of Agriculture to help farmers, $12 billion would be given to the Department of Housing and Urban Development’s fund for communities, $8 billion would go toward road and bridge repair, $4 billion for water system upgrades and $2 billion to the Small Business Administration’s disaster loan program.
“From rebuilding homes and reopening critical infrastructure, such as schools and roads — to supporting the nation’s farmers and ranchers and ensuring access to healthcare services — impacted communities await your response. There can be no delay,” President Joe Biden wrote in a letter to House Speaker Mike Johnson.
Biden noted that such hefty supplemental disaster aid is not a new thing. More than $120 billion was provided after Hurricanes Harvey, Irma and Maria in 2017.
Congress must now decide whether to take up the request as a standalone bill or packaged with the end-of-year spending bill.
