Study finds higher federal COVID money failed to improve test scores
Since 2001, student enrollments drop while spending shot up
This graphic from the latest Josiah Bartlett Center for Public Policy-requested report analyzes how student enrollment in public schools fell by 21% since 2001 to 2024 while spending went up 45%.
A new study from a conservative free market think tank concludes that the hundreds of millions in federal COVID-19 grants for school districts failed to improve test scores in New Hampshire.
Entitled 'Falling Students, Rising Spending II,' the Josiah Bartlett Center for Public Policy (JBC) commissioned the report to examine the impact the COVID relief had on public schools.
'The big picture really is that while all that Washington money helped power an enormous increase in spending on public schools, it didn't translate into improvement in student achievement,' said Drew Cline, JBC's president.
Benjamin Scafidi of Kennesaw State University authored the report which examined public schools from 2020 through 2024.
An earlier report in 2023 from JBC looked at similar trends during the period of 2001 up to 2019 when the pandemic began.
'The conclusions are pretty consistent with the first report, namely that more spending does not equate to better test scores for students,' Cline said.
According to the report, spending in public schools went up from $3.3 billion in the 2020 academic year to $4.06 billion.
On a per-student basis, the expenditures increased during those four years from $19,947 to $26,347, a 32% increase.
Hirings went up
The report noted that compared to 2001, public schools in the state served 43,379 fewer students, a 21% decline.
Despite that drop in enrollment, Granite State public schools employed 153 more teachers, 898 more administrators and 1,904 more employees performing other roles in 2024 relative to 2001.
By percentage, the increase in teachers over that period was only 1% while administrators saw a 78% hiring increase and 'other staff' grew by 15% from 2001-2024.
Similarly, total expenditures adjusted for inflation went up by $1.25 billion — or 45% — from 2001-2024, but the average teacher salary increased by only 8% above cost-of-living during that period.
Since 2020, enrollment dipped by 6.3% while the number of staff declined by 2.6% over those four years.
Also from 2020 to 2024, local property taxes to support schools went up by an average 17%.
Josiah Bartlett Center report chronicles higher spending, lower achievement in N.H. schools.
Drew Cline, president of the Josiah Bartlett Center for Public Policy, said the latest report it commission confirmed the continuing trend that higher spending on public schools hasn't translated into better student achievement on assessment tests.
Over that same period, federal grants went up seven times over the rate of inflation while state spending for public schools went up 19%, just above the 17% cost of living over the four-year period, the report said.
On test scores across the four exams, New Hampshire students in 2024 averaged about a half-year less learning in both reading and mathematics in grades 4 and 8 relative to New Hampshire public school students in 2001, the report found.
All told, New Hampshire students experienced a cumulative drop of 17 points from 2020 to 2024, which was better than the national drop of 22 points, the report said.
'This was one of the silver linings of the report which showed that by getting our students back into school quicker after COVID started than many other states, this resulted in less learning loss here,' Cline added.
klandrigan@unionleader.com
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Los Angeles Times
34 minutes ago
- Los Angeles Times
Gal Ben-Naim, Joshua Driskell, Jordi Pujol, and Mike Watson Share Insights on Wealth Management and Estate Planning
The Wealth Management & Estate Planning roundtable is produced by the LA Times Studios team in conjunction with Axos Securities, LLC; IDB Bank; Lagerlof, LLP; and Objective, Investment Banking & Valuation. Ongoing market developments across multiple sectors have helped to open up new private wealth management products and services to a broader array of people and families. This, along with a surge among high-net-worth families exploring ways to better manage their finances and making plans for their estates in today's economic environment, is an indicator of just how important the wealth management process has become. To take a closer look at the latest trends, best practices and concerns across the wealth management landscape, we turned to four of the region's leading experts on the topic, who graciously weighed in for a discussion and shared insights on the state of wealth management in 2025. Q: How would you describe the current investment environment in 2025 and what do you consider to be the best investment approach in general terms? Gal Ben-Naim, Head of Private Banking Group, California, IDB Bank: The first half of this year has really been about uncertainty and volatility, and it's causing a lot of investors, even the seasoned ones, to feel nervous. We expected some economic and market transitions with an incoming administration, but I think most investors have been surprised by the extent of what we've seen – including the worst day in the stock market since COVID. While tariffs are front and center, our broader economy is really a reflection of compounding factors – geopolitical uncertainty and conflict, inconsistent messaging on inflationary trends and a softening labor market. Our team at IDB believes that healthy portfolio diversification with a focus in alternative assets that don't solely rely on market activity. While this has been an unusually complicated environment, it's given us a chance to really understand the value of our approach in minimizing downside to our clients and continue to support mid- and long-term planning. Mike Watson, Head of Securities, Axos Securities, LLC: The 2025 investment environment is defined by persistent volatility, tighter monetary policy and rapid technological disruption. In this landscape, the best approach is a disciplined, diversified strategy with a strong focus on quality assets, risk management and long-term value creation. Flexibility and a global perspective are more important than ever. Jordi Pujol, Managing Director, Objective, Investment Banking & Valuation: It's more clear we've transitioned to a post-speculation cycle. With capital no longer as cheap, investors can no longer rely on rising multiples to justify weak underwriting. In 2025, the most resilient portfolios are focused, yield-conscious and grounded in fundamental cash flow. They are not driven purely by momentum or narrative, but rather by defensible moats and process-oriented scalability. Cash yield, margin of safety and strategic defensibility have replaced passive diversification as the cornerstones of disciplined investing. Private markets have notably shifted from 'growth at any price' to 'performance at the right price.' Investors are paying less for vision and more for repeatability of outcomes. Growth stories need to be backed up by real traction, recurring processes and sustainable/scalable growth. This environment demands real-time valuation discipline and quarterly stress testing of private holdings. Think forward when modeling but underwrite like the exit is tomorrow. Backward-looking assumptions and forward-looking hype no longer suffice. Q: What are the most critical strategies high-net-worth individuals should prioritize in today's economic environment? Joshua Driskell, Managing Partner, Lagerlof, LLP: High-net-worth individuals should prioritize flexibility, tax efficiency and multigenerational planning. With inflation, interest rate fluctuations and potential changes in tax law, building a nimble structure is essential. That includes diversifying asset classes, stress-testing estate plans under higher estate or capital gains tax regimes, and taking advantage of current exemptions before they sunset. Establishing irrevocable grantor trusts, family limited partnerships and charitable vehicles can preserve wealth while achieving strategic goals. Proactive wealth transfers, such as installment sales to defective trusts or GRATs, can lock in valuation discounts and freeze estate value. Most importantly, integrate estate and investment planning with family governance to promote cohesion and legacy continuity. Pujol: In today's environment, high-net-worth individuals should prioritize three things: ownership in assets they understand, tax-efficient structures informed by valuation foresight, and optionality through enhanced liquidity. Long-term capital growth is not about chasing trends or the cliched shiny objects but about staying positioned for the right opportunities. We're seeing a move away from over-diversified portfolios toward intentional ownership, where control, structure and timing drive outcomes. This means more alternatives, a mix of private and public holdings, and tax-minimizing structures. Ownership in assets you'd fight to keep, that's the new diversification. I also like the 'cockroach' approach, which is building portfolios that survive the panoply of circumstances the world is throwing at us by selecting traditional and non-traditional asset classes, making sure that correlation is low. I also think cash yields make liquidity an asset and not a drag on returns; it's strategic capital with a clear purpose of optionality. When opportunities arise, those with dry powder and a defined investment playbook are positioned to act quickly and decisively. The most successful families today follow a clear investment policy that outlines the investment discipline before emotions take over. In this environment, structure and readiness matter more than broad diversification. Ben-Naim: It's not as simple as building your wealth across stocks, bonds and cash anymore. In the past seven to 10 years, we've helped many of our clients increase their alternative asset exposure – ranging from equity and debt investment in commercial real estate, direct lending and hedge funds – from 5% to about 20%, with very positive results due to the less volatile and emotions-driven public market. Our current cycle has also highlighted the importance of hedging strategies. Investors should work closely with their advisors to identify safeguards on the equity market as well as private market entry points that will create protections on the downside, while maintaining participation on the upside. We've seen very positive outcomes as a result of these strategies. Many of our clients who have been allocating funds to private markets have been largely shielded from the recent volatility. Now, they are even taking steps to allocate more funds into these verticals. Q: How should investors rebalance their portfolios in response to shifting interest rates and market volatility? Watson: In today's dynamic environment, rebalancing decisions should be made with a clear understanding of how shifting interest rates and market volatility affect different asset classes. Rather than attempting to time the market or make reactive moves, investors should work closely with a qualified investment advisor who can assess their overall investment time horizon, risk profile and long-term goals. An advisor can provide guidance on when and how to adjust asset allocations, evaluate the impact of interest rate changes on fixed income and equity risk and returns, and implement a disciplined, tax-efficient rebalancing approach. With full visibility into an investor's financial profile, an advisor is able to provide holistic guidance. Professional oversight ensures that adjustments are strategic, not emotional, and aligned with broader financial objectives. Q: What planning opportunities exist when a trust changes from a grantor trust to a non-grantor trust? Driskell: When a trust converts from grantor to non-grantor status – often due to a death or other triggering event – it opens both risks and planning opportunities. Income tax liability shifts from the grantor to the trust itself or its beneficiaries. Advisors should evaluate whether the trust will accumulate or distribute income to manage compressed trust tax brackets. Capital gain planning becomes especially important. Trustees may consider investing in tax-efficient assets or making distributions to lower-bracket beneficiaries. Basis tracking must be updated, especially for assets with low carryover basis. In some cases, trust modification, decanting or converting to an incomplete non-grantor (ING) trust may optimize results. Coordinating with CPAs and estate counsel at the transition point is essential for tax and fiduciary compliance. Q: What are some of the biggest mistakes you see individuals make when managing their wealth, and how can they avoid them? Watson: There are a number of common mistakes. One is the lack of having a long-term plan and clear strategy. The solution for this is to develop a comprehensive financial plan, revisited regularly, aligned with your life goals, risk tolerance and time horizon. Another mistake we see is emotional decision-making. This can be avoided by staying disciplined, relying on objective advice and using a rules-based rebalancing strategy to manage volatility. Neglecting tax efficiency is a mistake that can be avoided by optimizing asset location, using tax-deferred accounts, harvesting losses strategically and engaging in proactive estate planning. Another misstep is over-concentration in a single asset or sector. Investors should diversify across asset classes, industries and geographies to reduce risk. Another mistake to avoid is failing to plan for liquidity needs. It is important to maintain a liquidity buffer for emergencies, major purchases or investment opportunities. Finally, another of the biggest mistakes we see is when people ignore succession and estate planning. It is always good to engage advisors early to create trusts, wills and governance structures that reflect your values and intentions. Avoiding these pitfalls requires proactive planning, trusted advice and the discipline to think generationally, not just transactionally. Q: How do you advise clients to balance risk and reward when pursuing long-term growth? Ben-Naim: In my experience, more than 80% of portfolio performance comes from asset allocation. The other 20% comes from the strategic selection of managers. These should be top-tier professionals and sponsors who have long-demonstrated success. Your advisor should not only provide guidance on the makeup of your portfolio but also serve as a reliable conduit, connecting you to well-vetted sponsors – hedge funds, private equity firms and other alternative investment opportunities that can provide buffers in downcycles, participation in bull markets and demonstrate confident returns in five-to-seven-year cycle. For us at IDB, this network of sponsors and managers is of critical importance. We've found that our clients respond incredibly well to our ongoing introductions to high-performance opportunities from both our broker-dealer partner IDB Capital, our joint venture IDB Lido Wealth and outside partners. Pujol: Don't chase high risk, high reward; engineer low risk, high conviction through long-term thinking. At Objective, we believe true risk isn't just about market volatility, it's often about overpaying for uncertain outcomes or fads. Long-term growth starts with disciplined entry and should correlate with what you want to own five years down the line. Valuation at entry isn't just for compliance, it's the defense and roadmap for future position adjustments. We often guide clients to model three – cases, low, base and high – because if you only plan for the base case, you've handicapped your understanding of potential outcomes. The best investors price in imperfection, protect capital on the downside and let time handle the compounding on positive trends. In private markets, we also help clients structure investments with asymmetric outcomes, where a 1× downside supports a 3× upside. That can include preference stacks, convertibility on notes and milestone upside through derivatives like warrants. We always model worst-case cash burn first; if it still makes sense at the bottom, everything else is upside. Valuation is your testing ground. Use it to see clearly and act with conviction. Q: What role does philanthropy play in wealth management today, especially among younger affluent clients? Watson: Philanthropy plays a significant role in wealth management today, especially among younger affluent clients who increasingly seek to align their wealth with their values. Tools like Donor-Advised Funds (DAFs), Trust Accounts and strategic charitable giving offer flexible and tax-efficient ways to support causes they care about. These options allow clients to create lasting impact while maintaining control over their giving strategy, making philanthropy a key part of their overall financial and legacy planning. Q: What are the latest trends in estate planning that individuals and families should be aware of? Driskell: Several emerging trends are reshaping estate planning. First, many families are accelerating wealth transfers ahead of the 2026 estate tax exemption sunset. Tools like SLATs, IDGTs and GRATs are increasingly popular for capturing today's favorable tax climate. Second, planners are focused on trust design that balances asset protection with beneficiary flexibility, including directed trusts and decanting statutes. Third, digital assets – from crypto to intellectual property – require new planning considerations. Finally, estate plans increasingly incorporate non-tax goals, such as family harmony, stewardship and values-based legacy planning. Tailored education and engagement for the next generation is also a growing priority to reduce conflict and enhance readiness for wealth transfer. Q: What estate planning tools are most effective for minimizing tax burdens across generations? Pujol: Standard structuring tools still work, but their true power lies in how and when they're used. For example, gifting pre-appreciated assets during downturns or before liquidity events allows wealth to grow outside the estate at a compressed tax cost. Planning with discount studies for minority positioning can allow you to apply discounts for lack of marketability and control, reducing the taxable value of gifted interests while preserving real economic value. Certain traditional trust structures, including those based on annuity techniques, remain effective planning tools. Their impact can be significantly enhanced by aligning transfers with existing tax benefits, such as Qualified Small Business Stock treatment. When minority interests are gifted at trough valuations and supported by appropriate discounts for lack of marketability and/or control, substantial equity can be shifted into tax-efficient vehicles at reduced reported values. Capture step-ups early may save IRS bills later. This clearly shows compliance valuation is not just part of the plan, it's a real economic multiplier. With early planning, millions in future value can be transferred before massive tax consequences. Driskell: Irrevocable trusts are a cornerstone of multigenerational tax planning. Grantor trusts, such as Intentionally Defective Grantor Trusts (IDGTs), allow parents to sell appreciating assets without triggering income tax, removing future growth from the estate. Spousal Lifetime Access Trusts (SLATs) offer access to income while locking in the current exemption amount. Generation-skipping trusts minimize estate tax exposure across multiple generations. Qualified Personal Residence Trusts (QPRTs) and Grantor Retained Annuity Trusts (GRATs) are useful for freezing asset values. Family Limited Partnerships (FLPs) and valuation discounts further enhance tax efficiency. Coordinating these strategies with lifetime gifts and charitable giving can significantly reduce long-term tax burdens. Q: In what ways should wealth managers prepare clients for potential ripple effects from trade restrictions between major economies? Watson: Wealth managers should prepare clients for potential ripple effects from trade restrictions by helping them assess and adjust their portfolios to mitigate risk. First, they should review global diversification to ensure clients are not overly exposed to any single economy, industry or region, especially those directly impacted by trade restrictions and geopolitical crises. This may involve shifting exposure from vulnerable sectors or countries to more resilient ones. They should also consider incorporating alternative assets that may offer protection in times of geopolitical instability, such as commodities or real assets. Additionally, wealth managers can guide clients on cash flow management and ensure liquidity needs are met, as trade restrictions could lead to economic slowdowns or disruptions in supply chains. Lastly, they should help clients stay informed and proactive, adjusting investment strategies in response to evolving trade dynamics and market conditions. Q: What unique considerations should business owners factor into their estate and succession plans? Pujol: Succession isn't a single event, it's a system that needs to be built, maintained and regularly tested. Business owners and family heads should structure continuity plans with updated valuations, clearly defined buy-sell mechanisms, and governance that depends less on future intentions or personalities and more on thoughtful planning. Uncertainty is one of the biggest threats to enterprise value. If business plans aren't baked into legal documents, the business is exposed to potential family disputes, tax inefficiencies and legal ambiguity. Transfers are also easier when numbers have been agreed to in advance. Plan as if you'll leave tomorrow and revisit that plan at least once a year. More families are treating succession planning like an annual checkup. During year-end valuation work, they run liquidation or 'liquidity fire-drill' scenarios to spot issues and test their transition plans. Some are also using structures to manage control and distributions effectively across family members more dynamically. Like outdated software, if a succession plan isn't reviewed and updated regularly, it's more likely to break when you need it most. Driskell: Business owners face unique risks and opportunities in estate planning. Key considerations include ensuring continuity of control, managing valuation and liquidity issues, and minimizing transfer tax liability. Proper use of buy-sell agreements, voting and non-voting share structures, and family-limited partnerships helps preserve operations while transferring economic value. Owners should explore gifting or selling interests to irrevocable trusts while leveraging valuation discounts. Planning for management succession is equally vital – aligning legal structure with leadership readiness. Owners often underestimate the need to separate governance from ownership. Coordinating business succession with estate liquidity planning (via insurance or redemption strategies) ensures family and business stability. Q: What defensive investment strategies are you recommending in light of the geopolitical instability and trade disputes? Ben-Naim: We consistently review our clients' allocations and advise on defensive strategies that can help ensure a buttoned-up portfolio. These strategies can range from diversifying asset classes to withstand major public market fluctuations, tax incentive investing and hedging. When considering geopolitical instability, our diversification philosophy is much the same. Now is an opportunity to really consider your geographic exposures and to look to consistently performing and emerging markets outside of the U.S. to realize opportunities. Of course, not all markets are winners and investing in a new region requires vetting, oftentimes with boots on the ground. But with careful research, you can make intelligent entry points. For example, despite the war, Israel proved to have a very strong public market in the past 18 months. Other markets, including India and Vietnam, are expected to perform with higher GDP growth compared to the U.S. and present an exciting outlook. Q: How do you see AI and automation impacting wealth management in the next 5-10 years? Pujol: AI is beginning to reshape wealth management, but it's not a replacement for advisors, it's another tool in the toolbox. Used well, it can accelerate diligence, surface outliers, stress test assumptions and generate models in seconds. But the truth is clients don't need more spreadsheets; they need clarity, context and judgment. All this comes from the human touch and experience. The advisors who will lead in the next decade are those who treat AI like an enhancement of their own skills, not like a replacement. At Objective, we use AI to flag inconsistencies, improve our communication and stress test our thinking. Then we bring in the human element to synthesize, challenge and advise. AI can compute outcomes, but it's useless without an experienced human interpreter. In the end, it's not about replacing insight, it's about removing noise so advisors can focus on the decisions that actually matter. AI enhances great advisors, but it will never make poor ones great. Watson: AI and automation are set to significantly impact wealth management in the next 5-10 years, likely accelerating the commoditization of basic advisory services. As technology advances, routine tasks such as portfolio rebalancing, tax optimization and risk assessment will become increasingly automated, making them more accessible and efficient at a lower cost. This will force traditional wealth advisors to rethink their value proposition, as many investment-related services will be handled by AI-driven platforms. To remain competitive, advisors will need to expand their offerings beyond just investments, focusing more on personalized financial planning, estate and tax strategies, and holistic wealth management. By integrating AI and automation into their practice, wealth managers can enhance their operational efficiency, but to truly differentiate themselves, they will need to provide high-touch, value-added services that help clients navigate complex financial decisions and life transitions. Q: How can advisors better engage younger generations in the wealth transfer conversation to avoid conflict and ensure legacy continuity? Pujol: If you want heirs to act like stewards instead of recipients, don't just write a will, start a conversation. The earlier families involve younger generations, the more likely wealth becomes a tool for continuity. We've seen families use business valuations, portfolio reviews and cash flow summaries to bring clarity to the 'why' behind the wealth and to tell the full story to their heirs. These tools take emotion out of the equation and turn complex financial decisions into documented, teachable moments. A detailed valuation can start the conversation a trust document cannot. One strategy that works well is forming a Family Investment Committee before the age of 18. You can even give heirs mock capital, or even small portfolios, and let them pitch investments quarterly, benchmarking their results against the real portfolio. Valuation reports and shared KPIs can turn wealth into something they understand and feel responsible for. The more context you provide while living, the fewer misunderstandings arise after you're gone. Driskell: Engaging younger generations early promotes transparency, reduces conflict and builds legacy alignment. Advisors should encourage family meetings to share the purpose behind planning decisions, including family values and long-term goals. Incorporating educational components – like basic financial literacy, investment principles and trust mechanics – empowers beneficiaries and fosters stewardship. Structuring trusts to provide phased access, beneficiary-directed investment input or co-trustee roles can build confidence and responsibility. Additionally, encouraging philanthropy and impact investing can bridge generational gaps. Above all, advisors must create space for open dialogue, ensuring younger family members feel heard and respected. This relational foundation is often more critical than the legal structures themselves. Watson: Advisors can better engage younger generations in the wealth transfer conversation by fostering early, inclusive and values-driven dialogue within families. Rather than treating wealth as a taboo or distant topic, advisors should encourage clients to involve heirs in strategic conversations about family values, financial goals and the purpose behind the wealth. This helps build trust, reduce the risk of conflict and ensures that the next generation feels informed and empowered rather than surprised or unprepared. Advisors can also offer educational resources and facilitate family meetings to bridge knowledge gaps and align expectations. By acting as neutral facilitators and emphasizing transparency, advisors play a key role in preserving both family harmony and the long-term continuity of the legacy. Q: For those concerned that their heirs might abuse their inheritance, what trust strategies are there? Driskell: Discretionary trusts with independent trustees remain a powerful tool to prevent misuse of inherited wealth. These trusts allow the trustee to make distributions based on the beneficiary's needs rather than mandatory rights. Incentive provisions can be included to reward education, employment or sobriety. Spendthrift clauses protect trust assets from creditors and poor financial decisions. Advisors may recommend staggered distributions or milestone triggers to gradually release funds. For families with ongoing concerns, directed trusts or trust protectors can provide oversight and flexibility. Ultimately, thoughtful drafting and selecting a fiduciary who understands family dynamics are key to protecting both wealth and relationships. Q: As a trusted advisor, what advice can you share for longer-term portfolio asset allocation? Ben-Naim: Now more than ever, high-net-worth investors have access to more asset classes, opportunities and strategies. While this is exciting, it's important to understand the implications of your holdings and to allocate your portfolio in a way that will withstand external fluctuations. It can be nearly impossible to understand the implications of your full portfolio holdings and how they may fluctuate throughout a market cycle or in response to a macroeconomic, geopolitical or industry event. I strongly recommend working with an advisor with a fiduciary responsible to you and your best interests, as well as intimate working knowledge of your profile, family, businesses and interests in order to create the right plan. The right financial advisor will not only know and understand you and your allocations but will also prioritize consultancy and communication to ensure holistic success.
Yahoo
8 hours ago
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Who won the first NYC Democratic mayoral primary debate?
Ex-Gov. Andrew Cuomo won Wednesday night's Democratic mayoral primary debate — because his opponents' relentless attacks did more to elevate him than drag him down, a Post panel of veteran campaign strategists said. The thrice-elected Democrat took some gut punches, but there was no knockout blow or major blunder on his part, the political analysts on both sides of the aisle said. 'I tuned in to see a mayoral debate, not a debate about Andrew Cuomo,' quipped campaign strategist Ken Frydman of the nine-person debate moderated by NBC 4 NY and Politico. 'By making Andrew the debate, they elevated him,' said Frydman. Because Cuomo was constantly under fire, he got more airtime to respond to each jab and by default dominated the more than two-hour debate, the political experts said. 'Everyone tried to land a punch on Andrew Cuomo, but failed,' said campaign strategist O' Brien 'OB' Murray. 'The first 20 minutes gave Cuomo the center stage, literally and figuratively,' he said, referring to the ex-gov's position in the middle of the group of candidates standing on the dais at 30 Rockefeller Center. 'He handled the attacks and was able to deflect. They actually gave him more airtime than they should have,' Murray said. Republican campaign strategist Bill O'Reilly said the verbal pummeling Cuomo received from most of his eight primary rivals does not alter his status as the front-runner for the Democratic nomination. 'It was Andrew Cuomo vs. the Lilliputians, and the Lilliputians fell short. That's the bottom line,' O'Reilly said. 'Someone needed to trip up the former governor to slow his momentum, but it was clear from the jump that wouldn't happen. Cuomo hasn't lost a step since leaving Albany, and the field lacked the skill to crack him.' Cuomo also counter-attacked, taking shots at his biggest threats in the polls — 33-year-old Democratic socialist Zohran Mamdani, a state Assembly member from Queens, and City Comptroller Brad Lander. The former governor delivered the best line when he said, '[President] Trump would go through Mamdani like a hot knife through butter,' O'Reilly noted. Frydman said the candidates and moderators did force Cuomo to squirm to defend his record as governor, including his controversial nursing home policy during the COVID-19 pandemic and his approval of the unpopular 2019 bail reforms. They also tried to make him answer for the spate of sexual misconduct accusations leveled against him — which he denied, but which forced his resignation in 2021. Some of the other candidates had 'breakout moments' — including former Bronx Assemblyman Michael Blake, City Council Speaker Adrienne Adams and Mamdani, said political adviser Yvette Buckner. 'That will have voters wanting to learn more about them, their policies and their candidacy,' she said. Frydman too said Adams' performance 'moved the needle' for her campaign, which has been slow to gain momentum despite support from state Attorney General Letitia James. 'She introduced herself to Democratic voters well enough on substance to move up in ranked-choice voting,' he said. But Cuomo's comfortable lead over second-place Mamdani in recent polls should hold, Frydman said. O'Reilly agreed, but said Mamdani remains Cuomo's 'greatest threat' for the nomination in the June 24 primary. Two of the panelists agreed that Lander is competent, but his persona didn't translate on TV. 'He oozes insincerity in a car-salesman-type way,' O'Reilly said. But he said Brooklyn state Sen. Zellnor Myrie's sincerity came across 'easily,' calling him a rising star in the Democratic Party. Murray concurred, saying Lander has a 'stage presence for radio and a delivery for print. He confirmed why he has his wife and daughter on videos, instead of himself.' Another candidate, former city Comptroller Scott Stringer, who previously ran for mayor in 2021, didn't break through, the panelists said. 'Stringer was Stringer — flat, and after a second run for mayor, still didn't connect to voters,' Murray said. All but two of the Democratic contenders will debate again on June 12, save for Blake and state Sen. Jessica Ramos, who failed to meet the campaign funding threshold. Nine days of early voting will precede the primary, beginning on June 14.
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8 hours ago
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Artists who got almost $1,500 a month under a basic income pilot say their work improved
Ireland's basic income pilot program for the arts ends in August. For three years, 2,000 artists and creative arts workers received about $370 a week. Recipients said the stipend overall improved their daily lives. For about 2,000 artists and creative arts workers in Ireland, a weekly stipend provided through a basic income program has been a lifeline for years. Now, it's almost over. The pilot program began in 2022 under Catherine Martin, Ireland's former minister for tourism and culture. Martin allocated about $28 million to the arts sector following the COVID-19 pandemic. Participants were randomly chosen and given an unconditional stipend of €325, or about $370, weekly for three years. During that time, participants met periodically via Zoom to discuss how the additional income had affected their livelihoods, careers, and ability to meet basic needs. The final session was held this month before the program's conclusion in August. Artists and cultural workers who attended the session grappled with what their lives would look like after August, but they hoped government officials would extend the program. "We need no further pilots. People need a UBI now to face and deal with the many social, economic, and ecological crises of our world," Reinhard Huss, the organizer of UBI Lab Leeds, which sponsored the event alongside Basic Income Ireland, UBI Lab Arts, and UBI Lab Network, told Business Insider. New developments in AI are reshaping the job market, replacing some entry-level positions. Tech industry leaders like Elon Musk and OpenAI CEO Sam Altman have said implementing a universal basic income will be essential in the near future when AI supplants jobs in most industries. A universal basic income offers an entire population recurring, unconditional payments regardless of an individual's socioeconomic status. Ireland's program, like many others in the United States, is a guaranteed basic income, which targets certain segments of the population for a set period of time. Jenny Dagg, a sociologist lecturing at Ireland's Maynooth University, authored a new report that provides insights into participants' reactions to the program. She gathered data from over 50 of the 2,000 recipients. Although the report outlined nearly a dozen key impacts reported by program recipients, Dagg highlighted five major takeaways during the Zoom session. Dagg said that recipients who received money from the program reported more stability and "significantly reduced" financial stress. It relieved their anxiety about fulfilling their basic needs. Participating in the pilot program also allowed artists to re-prioritize how they spend their time and what they choose to focus on. "The opportunity to focus more on their specific creative interests opened new possibilities and career trajectories," the report said. Artists said the added income allowed them to spend more time "researching, experimenting, taking risks, and failing," which has improved the quality of their work. Artists, the report said, also felt more confident in themselves and their work during the program. "Many recipients talk of feeling empowered, of being in control of the choices within their lives, and envisioning a viable career path longer-term," the report said. Recipients even reported better mental health, which led to improved sleep quality and lowered stress levels. With the end of the program fast approaching, recipients of the weekly payment are reckoning with what how their lives might change. "Across art forms, recipients report concerns about financial stability and sustaining the momentum of their careers when, or if, the basic income scheme ends," Dagg's report said. This month, Basic Income Ireland called on the government to immediately implement a universal and unconditional basic income for the country. A spokesperson for the UBI Lab Network said the pilot program's success shows that basic income is a viable option. The campaign group shared a proposal for introducing a universal basic income to Ireland. "As the pilot shows, basic income works and people need a UBI now to face and deal with the many social, economic, and ecological crises of our world. The Network will continue to help demonstrate basic income within communities and show how it is a sustainable policy," the statement said. Patrick O'Donovan, Ireland's minister for arts and culture, said he would evaluate the data collected throughout the pilot program and create proposals for the government regarding the next steps. "I am heartened by the responses of the Basic Income recipients in this paper," O'Donovan said in the May report. "This research will add to the evaluation being conducted by my department, which to date clearly shows that the Basic Income Pilot has been an effective support for the artists in receipt of it." Read the original article on Business Insider
