'I saw myself in those cages': Fl. Dem. Rep. recounts visit to Alligator Alcatraz
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Yahoo
4 minutes ago
- Yahoo
Commentary: What Trump should be doing instead of attacking the Fed
Republicans have a problem. Their signature economic package for 2025, the tax bill President Trump signed into law in early July, is deeply unpopular. Voters think it will harm the poor and reward the wealthy, and sober analysis suggests they're right. The last time Republicans passed a law like this, in 2017, voters pummeled them in the subsequent election. As the leader of his party, President Trump bears responsibility for selling the tax bill to voters. He's not doing that. Instead, his main economic messaging effort this summer has been a sustained attack on the Federal Reserve and its chair, Jerome Powell. Trump has routinely suggested he'll try to fire Powell, perhaps hoping the Fed chair will crack under pressure and quit before his term expires next May. He has hurled a dictionary of insults at Powell, calling him 'dumb,' 'stupid,' 'major loser,' 'knucklehead,' 'numbskull,' 'Mr. Too Late,' and 'the worst Federal Reserve chairman in history.' Since Powell has shown no signs of quitting, Trump has suggested he'll announce a "shadow" Fed chair who will offer different monetary policy guidance until Powell's term finally ends. Trump's war on Powell serves at least three purposes. His stated reason for browbeating the Fed is to compel sharp interest rate cuts to stimulate the economy. But Trump also has a penchant for creating villains he can blame when something goes wrong, and as head of a cautious central bank, Powell fits the profile. Trump also manages his many controversies by creating new kerfuffles to distract people from existing ones. Threatening mayhem at the Fed has been a way for Trump to deflect attention from tariff-related inflation, slowing economic growth, and now, the mushrooming Jeffrey Epstein scandal. The Fed is not really causing Trump any problems. It has kept interest rates steady since last December, one source of calm in financial markets otherwise roiled by Trump's tariffs and their many unintended consequences. The Fed most likely will end up cutting rates by later this year or early next, just not as dramatically as Trump wants. Read more: How much control does the president have over the Fed and interest rates? Tax bill blowback should be a more pressing concern for Trump. As analysts figure out what's actually in the megabill, the political peril for Republicans becomes increasingly apparent. Most voters don't know all the details, but they already dislike the tax law and could oppose it even more strongly once it begins to affect real people. A recent CNN poll found that 61% of people oppose the bill while only 39% approve. Fifty-eight percent say Trump has gone too far in cutting federal programs, which most likely reflects the blunt-force DOGE cuts overseen by Elon Musk earlier this year. And in the CNN poll, approval for Trump's handling of the federal budget was a lowly 37%.In an Associated Press poll, 62% of respondents said the tax bill would help the wealthy, while just 20% felt it would help low-income people. The portion saying it would harm 'people like me' was twice the portion saying it would help. Trump's approval rating on handling the economy in that poll was a scant 38%, with 60% disapproving. Trump is now deeply underwater on what used to be one of his most winning issues. Voters are correctly assessing the complicated bill. The Yale Budget Lab found that the bottom 40% of earners would actually suffer a net loss of income from the bill, mainly because of cutbacks in food aid, Medicaid, and other health subsidies. The top 20% of earners would gain about $6,500 in annual after-tax income, while the savings for the top 1% would be $30,000. That's highly regressive, in that it benefits the rich at the expense of the poor. Healthcare cuts are likely to be a particularly controversial aspect of the legislation, which could increase the number of uninsured Americans by 11 million, according to the Congressional Budget Office. Other GOP policies could boost that number to 16 million within 10 years, and real people will start to feel the cutbacks in 2026. Republicans have essentially given voters every plausible reason to blame them for increasing healthcare costs, lost coverage, and medical disasters. Democrats will be eager to help heap it on. They're already erecting billboards near closing rural hospitals blaming Trump for the shutdowns. Whether such claims are accurate or not, Republicans put the target on their own backs. When Republicans passed a big tax-cut law in 2017, during Trump's first term, they thought voters would reward them for a bill that financially benefited a majority of Americans. It didn't work out that way. The law was unpopular from the start, with many Americans feeling it heavily favored businesses and the wealthy. While that law harmed few people, many felt it did nothing to help them. In the 2018 midterm elections, Democrats outperformed, gaining 40 seats in the House of Representatives and retaking control of the chamber. The 2025 tax cut law is more punishing than the 2017 vintage, because of the cuts to food aid and healthcare. And Republicans have a far narrower edge in the House this time around. If the pattern holds, Republicans will take a beating in next year's midterms, losing the House and maybe the Senate. If Trump has a plan to prevent that, he might want to reveal what it is. The Fed will probably be cutting interest rates by the time of next year's election, blunting Trump's vilification of the central bank. He'll need somebody else to blame for everything voters dislike, unless he finds a way to persuade them that things are better than they think. Rick Newman is a senior columnist for Yahoo Finance. Follow him on Bluesky and X: @rickjnewman. Click here for political news related to business and money policies that will shape tomorrow's stock prices. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 minutes ago
- Yahoo
Is JD Vance married? Does he have kids? A look inside his family's home in Washington, DC
Since Vice President JD Vance's launch into the national political spotlight in 2024, the Ohio native has added another residence to call home upon securing the VP title. Is JD Vance married? Does he have kids? Where has Vance and his family been living since being sworn in as vice president? Here's a look at his new address. Where does JD Vance and his family live now? See inside their Washington, D.C., home Since being elected into office, Vance's official residence is the official Vice President's mansion located at the United States Naval Observatory in Washington, D.C., about 2.5 miles away from the White House. Vance also owned a home in Alexandria, Virginia, before selling it for $1.7 million earlier this year, according to What part of Ohio is JD Vance from? Vance grew up in Middletown, Ohio, and moved to Cincinnati's East Walnut Hills neighborhood in 2018. He described a childhood consumed by poverty and abuse in his best-selling 2016 memoir, "Hillbilly Elegy." Vance's mother struggled with drug addiction, so he spent many of his formative years with his grandmother, known to him as Mamaw. How long have JD Vance and Usha Vance been married? Usha Vance, 39, met the future VP when they were students at Yale Law School. They married in 2014, one year after they graduated. Before becoming second lady, Usha Vance worked as an attorney. Usha Vance, the daughter of Indian immigrants, grew up in San Diego. How many kids does JD Vance have? JD Vance is a dad of three. Vance and his wife share three young children: Ewan, Vivek and Mirabel, their youngest child. How long has JD Vance been in politics? Vance was first elected to the U.S. Senate in 2022 after defeating former Democratic Rep. Tim Ryan for an open seat in Ohio. Is JD Vance the youngest vice president? At 40 years old, Vance is the youngest-serving vice president since Richard Nixon in the 1950s, the Enquirer previously reported. Nixon was 39 when Dwight D. Eisenhower chose him as a running mate in 1952, according to the White House. What is JD Vance's net worth? Vance has an estimated net worth of $5 million. Citing Vance's 2022 Congressional financial disclosure, Celebrity Net Worth reports that the majority of his 100-plus investments are worth between $1,000 and $15,000. Some of Vance's major investments include: Huntington National Bank, which holds $250,000 – $500,000 Robin Hood checking account, which holds $100,000 – $250,000 Five Goldman Sachs CDs valued at a combined range of $500,000 and $1.05 million $500,000 – $1 million worth of shares in the QQQ Exchange Traded Fund $100,000 – $200,000 worth of 20+ Year Treasury Bond ETF shares $100,000 – $250,000 worth of Bitcoin held through Coinbase $50,000 – $100,000 worth of Walmart stock How much does Vance earn as Vice President of the United States? As vice president, Vance earns $235,100 each year, according to the National Taxpayers Union Foundation. This article originally appeared on Cincinnati Enquirer: Where does JD Vance live? Who are his wife, children? See their home Solve the daily Crossword
Yahoo
4 minutes ago
- Yahoo
White House Targets The View's Joy Behar, Warns Daytime Talker Could Be ‘Next to Get Pulled Off the Air'
The White House — which was apparently watching The View in real time on Wednesday — fired off a statement attacking co-host Joy Behar and alluding to the long-running daytime talker being 'the next to be pulled off air.' Said missive comes less than a week after CBS announced that The Late Show With Stephen Colbert would be entering its farewell season, soon after Colbert said on-air that parent company Paramount's recent $16 million settlement with President Donald Trump was tantamount to 'a bribe.' (Paramount Global is waiting on Trump's FCC to approve a lonnnnng-in-the-works merger with Skydance Media.) More from TVLine Jon Stewart Rages Against Late Show With Stephen Colbert Cancellation, Declares: 'I'm Not Going Anywhere' Eileen Fulton, Who Played As the World Turns' Villainous Lisa Miller, Dead at 91 President Trump Celebrates Stephen Colbert's Cancellation: 'I Hear Jimmy Kimmel Is Next' With its statement (mailed to the White House was responding to a Wednesday bit that Behar did on Trump's apparent envy of former President Barack Obama. Trump this week circulated a fake, AI-generated video of Obama being arrested in the Oval Office for being, well, 'sedacious.' 'First of all, who tried to overthrow the government on Jan. 6?' Behar began, alluding to the 2021 insurrection at the U.S. Capitol. 'Let me think, who was that again…? That was not Obama. 'The thing about [Trump] is he's so jealous of Obama,' she continued, 'because Obama is everything that he is not. Trim. Smart. Handsome. Happily married…. And Trump cannot stand it. It's driving him crazy. Jealous is not–, green is not a good color.' The White House — an official institution of the United States federal government, I need to remind you — said in its very official statement that 'Joy Behar is an irrelevant loser suffering from a severe case of Trump Derangement Syndrome.' The White House also claimed that The View has in recent years 'hit the lowest ratings' — though in reality, the daytime talker is up 5% in audience year-over-year, and is enjoying its most-watched summer in four years. The statement also, and quite pointedly, said that Behar 'should self-reflect on her own jealousy of President Trump's historic popularity before her show is the next to be pulled off air.' The View is not commenting on the White House's statement. TVLine has reached out to the White House for a copy of the full statement. Following Behar's aforementioned bit on Wednesday's The View, fellow co-host Sunny Hostin jumped in to echo the sentiment, saying, 'Obama still lives rent-free in [Trump's] head, I think Michelle Obama still lives rent-free in his head, the fact that [daughter] Malia graduated from Harvard…. It's the very swagger that Obama has, that he will never have.' Best of TVLine 'Missing' Shows, Found! Get the Latest on Ahsoka, Monarch, P-Valley, Sugar, Anansi Boys and 25+ Others Yellowjackets Mysteries: An Up-to-Date List of the Series' Biggest Questions (and Answers?) The Emmys' Most Memorable Moments: Laughter, Tears, Historical Wins, 'The Big One' and More
