Andrew Weissmann on Trump's deportations : ‘It is up to the Supreme Court to show some backbone'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Newsweek
15 minutes ago
- Newsweek
Trump's Pick To Oversee Social Security COLA Says 'Need To Sunset' Program
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. President Donald Trump's pick for commissioner of the Bureau of Labor Statistics has argued for "sunsetting" Social Security, calling it a "Ponzi scheme." Trump nominated Heritage Foundation economist E.J. Antoni to lead the BLS less than two weeks after firing the agency's former commissioner, Erika McEntarfer, in response to weaker-than-expected job numbers. The dismissal has fueled concerns that upcoming BLS reports could be altered to advance Trump's political agenda. Newsweek has contacted Antoni for comment via his profile on the Heritage Foundation's website. Why It Matters Social Security provides benefits to more than 70 million Americans every month, paying out retirement, survivor and disability benefits. Often referred to as the "third rail" of American politics for its enduring popularity, advocating against the program is considered politically perilous to members of either party. The BLS is the federal agency responsible for producing essential inflation data, including the Consumer Price Index for Urban Wage Earners and Clerical Workers—the official index used to calculate Social Security Cost of Living Adjustments. As commissioner, Antoni would oversee how that data is produced and published. President Donald Trump listens to questions from reporters after speaking on economic data in the Oval Office in Washington, D.C., on August 7. President Donald Trump listens to questions from reporters after speaking on economic data in the Oval Office in Washington, D.C., on August 7. Win McNamee/GETTY What To Know Speaking on KTRH's Houston's Morning News in December, Antoni said Social Security was set up as a "Ponzi scheme" where "today's investors are—their funds are being used to pay yesterday's investors." A Ponzi scheme is a fraudulent investment setup where money from new investors is used to pay existing ones. Social Security payments are financed from a dedicated payroll tax collected from current workers. Any excess that is not used is kept in dedicated trust funds: the Old-Age and Survivors Insurance trust fund and the Disability Insurance trust fund. These trust funds are scheduled to reach depletion in 2034 unless Congress acts, according to the 2025 Social Security Trustees report. "And unless you are going to grow the number of investors at an exponential rate, that system is eventually going to collapse. Well, since we can't grow the workforce at an exponential rate, especially today when our population is actually in a state of decline, you're not going to be able to sustain a Ponzi scheme like Social Security," Antoni continued. "Eventually you need to sunset the program." Antoni said current benefits need not be touched, but future retirees should not rely on the program. He advocated for transitioning to a system that uses private accounts "for just them." "There's plenty of money available to pay for folks who are already retired," he said. "But the people who are going to retire 10, 20, even 30, or certainly 40 years from now—I'm sorry, but the program is not going to be viable at that time." Antoni argued for "some kind of transition program where, unfortunately, you'll need a generation of people who pay Social Security taxes but never actually receive any of those benefits," he continued. "And that sounds harsh, but unfortunately that's the price to pay for unwinding a Ponzi scheme that was foisted on the American people by the Democrats in the 1930s." Who Is E.J. Antoni? Antoni is the chief economist for the conservative think tank the Heritage Foundation, which published Project 2025. According to his bio on its website, he was previously "an economist at Texas Public Policy Foundation and has taught courses ranging from labor economics to money and banking." He also holds master's and doctoral degrees in economics. Writing on Truth Social regarding Antoni's appointment to the BLS, Trump said, "E.J. will ensure that the Numbers released are HONEST and ACCURATE." In a statement on X, Labor Secretary Lori Chavez-DeRemer said Antoni would "provide the American people with fair and accurate economic data they can rely on." What People Are Saying White House assistant press secretary Taylor Rogers told Newsweek: "President Trump selected Dr. E.J. Antoni III to restore America's trust in the jobs data that has had major issues, without any real attempt at resolution, for years. Antoni's education and vast experience as an economist has prepared him to produce accurate public data for businesses, households, and policymakers to inform their decision-making." Democratic Representative John B. Larson of Connecticut said in a news release on August 11: "It should alarm everyone when a yes-man determined to end Social Security is installed in this position. I call on every Senate Republican to stand with Democrats and reject this extreme nominee—before our seniors are denied the benefits they earned through a lifetime of hard work." Jason Furman, a Harvard economist and former chair of Barack Obama's Council of Economic Advisers, posted on X: "I don't think I have ever publicly criticized any Presidential nominee before. But E.J. Antoni is completely unqualified to be BLS Commissioner. He is an extreme partisan and does not have any relevant expertise. He would be a break from decades of nonpartisan technocrats." What Happens Next It remains to be seen whether the Senate will confirm Antoni's nomination to lead the BLS, which is an independent agency under the Labor Department.
The Hill
16 minutes ago
- The Hill
Cornyn asks DOJ to probe groups tied to O'Rourke, others in Texas fight
Sen. John Cornyn (D-Texas) is asking the Justice Department (DOJ) to investigate groups —including former Rep. Beto O'Rourke's (D) Powered by People — that have allegedly helped fund Texas Democrats who fled the state to stall a GOP mid-decade redistricting plan. 'I write to encourage the Department of Justice to open an investigation into potential violations of federal law committed by the Political Action Committees and special interest groups providing funding and assistance to members of the Texas House of Representatives who absconded from the state and violated their duties to the citizens of Texas,' Cornyn wrote in a letter to Attorney General Pam Bondi. 'I write today to encourage an investigation of the entities funding this charade. News reports make clear that PACs tied to Beto O'Rourke and megadonors such as George Soros are supporting the legislators, along with other campaign entities,' he continued. 'These outside groups appear to be acting in violation of federal public corruption and election laws.' More than 50 Texas state legislators left the Lone Star State earlier this month to break quorum, depriving the state House of the numbers it needs to move forward with a redistricting plan backed by President Trump. The proposal, which passed through the state Senate on Tuesday, would net Republicans five additional House seats and has triggered redistricting talks in other states on both sides of the aisle ahead of the 2026 midterms. Cornyn in his letter called out O'Rourke, alleging that his political group funded 'luxurious private jets' for the quorum-breaking lawmakers, along with food, lodging and logistical support from other groups. The latest move from the senator follows his recent call for the FBI to help track down quorum-breakers, comes as he seeks to fend off a conservative primary challenge from Attorney General Ken Paxton (R) in next year's election. Recent polling has shown Cornyn trailing Paxton, in some cases by double digits, though his team is projecting optimism that they'll be able to fend off the challenge. Paxton has also swung at O'Rourke and his group, which he's claimed engaged in unlawful fundraising activity to help the Democratic state lawmakers. He was granted a temporary restraining order last week, and is now seeking O'Rourke's arrest as he alleges that the order was violated. Meanwhile, Texas Democrats are trying to wait out the ongoing 30-day special session as their absence puts a pause on advancing the new Congressional map, but Gov. Greg Abbott (R) has said he planned to call another immediately afterward. The venture comes with hefty expenses. In addition to the costs of living away from their homes in Texas, the participating Democrats each face $500-a-day fines, along with the threat of arrest and removal from their seats. California's Gov. Gavin Newsom (D) has pledged to redraw the Golden State's congressional maps in a move that could counter Texas's gains with five additional Democratic House seats, depending on whether Republicans move forward with redistricting.
The Onion
16 minutes ago
- The Onion
Frito-Lay CEO Gifts Trump Gold Funyun
WASHINGTON—In a gesture many critics have decried as yet another blatant bribe to secure favorable regulatory treatment, Frito-Lay CEO Steven Williams presented President Donald Trump this week with a 24-karat, solid gold Funyun. 'The president has long voiced his desire to own a golden, crunchy onion, and we knew it would be our privilege to make that a reality for one of the greatest dealmakers in history,' said Williams to reporters as a beaming Trump proudly moved the gold Funyun sculpture to a permanent spot on the Resolute Desk. 'This expertly crafted artwork reflects how much we at Frito-Lay respect the president's unwavering commitment to protecting the freedoms of American snackers and snack makers alike. We hope that here, under your visionary stewardship, this Funyun will stand as a tribute to our shared commitment to bold, flavorful action.' At press time, Frito-Lay has pledged to donate $26 million in Funyuns, Ruffles, Munchos, and Cool Ranch Doritos to the Donald J. Trump Presidential Library.
