National Debt
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Yahoo
35 minutes ago
- Yahoo
Escobar: GOP budget bill would cut health care, give breaks to rich
EL PASO, Texas (KTSM) — The Republican budget bill — often called the 'big, beautiful bill' by supporters of President Donald Trump — would cut health care, nutrition programs and explode the national debt, said U.S. Rep. Veronica Escobar, D-Texas. The bill, which has passed the U.S. House and is being discussed by the Senate, would also give 'massive tax breaks' to the 'millionaire and billionaire class,' Escobar said. That was one of the messages that Escobar delivered during a town-hall meeting Saturday, June 7 at Horizon High School in Horizon City. Escobar said that the town-hall meeting was an opportunity to listen to consituents, talk to them and answer their questions. She said the Republican budget bill is the big topic of converstation and concern. 'It passed out of the House a couple of weeks ago. The Senate is working on it now,' said Escobar, who voted against the bill when it came up before the U.S. House in late May. 'It will result in cuts to health care benefits, cuts to nutrition programs. It will explode the national debt, all of this in order to give the millionaire and billionaire class massive tax breaks,' Escobar said. 'It is important for people to understand what is in the bill,' Escobar continued. 'We still have an opportunity to stop it and kill it on the Senate side and come up with a bipartisan product that reflects our nation's values.' The Trump Administration's plans to 'pause' the Job Corps program, including a center here in El Paso, is 'devastating news,' she added. 'The reason they gave for the pause in the program were financial issues that happened with the program during the pandemic,' Escobar said. She added that she wasn't sure why the Trump Administration was targeting the program. A lawsuit has been filed against the 'pause' and the move is likely to be found illegal by the courts, she added. Michael Aboud, the chairman of the El Paso County Republican Party, called Escobar a 'tax-and-spend Democrat.' 'I don't understand why she would want El Pasoans or anyone to pay more taxes,' Aboud said. 'Our taxes are already way too high. She is upset because President Trump is cutting waste and is going to reduce our taxes. 'I don't see how you can be against that. I think it is nonsensical, unless you are greedy and just want to spend the people's money,' he added. Escobar has represented Texas' 16th Congressional District since 2019. She announced in April that she will be seeking another two-year term. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
40 minutes ago
- Yahoo
What It Will Take For A Bitcoin Treasury Company To Become 'The Berkshire Hathaway Of Bitcoin'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bitwise strategist Jeff Park has weighed in on what it would take for a company to become 'the Berkshire Hathaway of Bitcoin.' Park has said financial leadership alone would not be enough for any firm to become the ideal Bitcoin treasury company. Public corporations have become the dominant players in the Bitcoin market in recent months. When it comes to shareholder value growth, few firms can hold a candle to Warren Buffett's Berkshire Hathaway (NYSE:BRK, BRK.B)). Between 1965 and 2023, the company delivered a compound annual growth rate of nearly 20% to its shareholders, outperforming the S&P 500 by approximately 10%. So, it makes sense that Strive Asset Management CEO Matt Cole last month cited Berkshire Hathaway when discussing the firm's aspirations in the Bitcoin treasury company space. 'We're going to be one of the major players in the space where I look at us as kind of the Berkshire Hathaway of Bitcoin Treasury companies,' he said at the time. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Achieving this goal, however, will be no easy task. "The Berkshire Hathaway of Bitcoin' would have to master three different return on equity strategies, said Top Bitwise strategist Jeff Park on Monday. These strategies include liability management, asset management and operating equity management. According to Park, however, Bitcoin treasury firms in their current form are not taking advantage of more than one approach. He put MicroStrategy (NASDAQ:MSTR), The Blockchain Group and Metaplanet's strategies under liability management. Strive and Twenty One's efforts were classified under asset management, while Kindly MD's (NASDAQ:KDLY) efforts were placed under operating equity management. Meanwhile, Park said financial leadership alone would not be enough for a Bitcoin treasury company to become 'the Berkshire Hathaway of Bitcoin.' After all, the Oracle of Omaha's firm is not only recognized for its financial success but also its stabilizing role during times of distress. Trending: New to crypto? on Coinbase. So, in addition to mastering the outlined ROE strategies, Park said the ideal Bitcoin treasury company would need to build its 'spiritual weight' by wholeheartedly supporting Bitcoin development and prioritizing the community over corporate interests. 'Bitcoin companies must embrace the same vision of classical liberalism as individuals, to pursue freedom, decentralization, and unity: principles that only open-source software can truly deliver, not the managerial politicians,' he said, adding that 'the best corporate leaders will see that the real opportunity isn't just in accumulating, but in becoming custodians of a future where individuals, not institutions, hold the keys.' Public corporations have become the dominant players in the Bitcoin market in recent months. Bitwise said in April that these firms purchased 95,000 BTC in Q1 alone, more than half of the approximately 165,000 BTC expected to be mined this year. And with the entry of players like Strive, Twenty One and Kindly MD into the space in recent weeks, the Bitcoin purchases look set to accelerate even more. Many expect that this demand will drive the asset's price significantly higher. Bitwise, for example, has set a year-end price target of $200,000. Fundstrat has set a target of $250,000. VanEck has set a target of $180,000. At last look, the asset is trading at over $106,000, up nearly 2% in the past 24 hours. Read Next: A must-have for all crypto enthusiasts: . Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — Image: Shutterstock This article What It Will Take For A Bitcoin Treasury Company To Become 'The Berkshire Hathaway Of Bitcoin' originally appeared on 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
an hour ago
- Yahoo
DOGE Staffers Fear Getting DOGE'd Themselves
WASHINGTON—In the aftermath of President Trump's epic falling out with Elon Musk, staffers within the Department of Government Efficiency face an ironic position after spending months paring back jobs and spending: They now fear being DOGE'd. The White House is publicly standing behind its work with DOGE. The future of DOGE, Trump and Musk's joint project to reshape the federal government, is one of the major looming questions in the aftermath of this past week's high-profile rupture between the U.S. president and the world's richest man, whose falling out was prompted by disagreements over the president's tax-and-spending package.
