Latest news with #D.O.G.E
NBC News
3 days ago
- Politics
- NBC News
Targeting DOGE, labor group puts up billboards warning of heat deaths at national parks
LAS VEGAS — On West Bonanza Road near Martin Luther King Boulevard, not far from the glittering casino lights of the Strip, motorists pass a dire message for the upcoming summer tourism season. A billboard mimicking a postcard from one of the most extreme places on the continent reads: 'Greetings from Death Valley National Park,' before a more sinister warning: 'Heat deaths rise. Safety staff cut. Made possible by D.O.G.E.' It's one of around 300 billboards placed across Arizona, Nevada, Ohio, Pennsylvania and Florida by More Perfect Union, a nonprofit labor advocacy organization seeking to bring attention to staffing cuts brought on by Elon Musk's Department of Government Efficiency. The National Parks Conservation Association, an independent advocacy organization, estimates that around 2,500 employees — roughly 13% of the National Park Service's staff — took buyouts or accepted early retirements or deferred resignations as part of DOGE's efforts to significantly slash the size of the federal government. There are concerns that deep cuts across the National Park Service could jeopardize public safety. 'In far-flung places like Death Valley, park rangers are there to help maintain your safety,' said Faiz Shakir, More Perfect Union's founder and executive director. 'If you pass out from heat exhaustion, they're the ones making sure you're taken care of.' In Nevada alone, 19 billboards are on display in Las Vegas and Reno, highlighting the public safety risk of heat-related illness and death for park visitors this summer. Death Valley National Park extends from eastern California to Nevada and is about a 2.5-hour drive from Las Vegas. The area is often known as the hottest place in North America, with temperatures often reaching 130 degrees Fahrenheit or higher in the summer.
Yahoo
01-04-2025
- Business
- Yahoo
Bitcoin Headed Below $60K Says Hot-Handed Crypto Hedge Fund Manager
Bitcoin's correction may just be getting started. In fact, the crypto sector as a whole could be facing a severe downtrend reminiscent of 2022. 'I could see us going back to a five handle by the end of the year,' Quinn Thompson, founder of crypto hedge fund Lekker Capital, told CoinDesk in an interview. A "five handle," i.e. a price between $50,000 and $59,999, would be down substantially from the already shaky current $83,000 level and roughly a 50% decline from bitcoin's peak just above $109,000 just more than two months ago. 'I don't think it happens quickly, which is why it would be very painful and shocking to people because nothing about the current market conditions is very volatile, with big liquidations and crashes,' Thompson added. 'It's this sort of different market environment, a slow grind down that is almost more unbearable for people because they're like, 'Is it over? Is the bottom in?'' Thompson, who had been bearish from far higher levels, has repeatedly called the White House's crypto announcements — be it the Sovereign Wealth Fund or Strategic Bitcoin Reserve, or anything in-between — "nothingburgers" and 'sell the news' events. He has also argued that Strategy's (MSTR) constant bitcoin buys aren't necessarily bullish for the cryptocurrency, since they seem to be the only significant bid. Central to Thompson's thesis is the idea that the Trump administration's various policies will likely hurt the economy for the next six to nine months. First, the Department of Government Efficiency (D.O.G.E), in its efforts to reduce the U.S. deficit, is bent on cutting government spending — which has been one of the largest drivers of job growth in recent years. The labour market was already wobbly when the Biden team handed over the reins to Trump, Thompson said, and the new government's fiscal arm isn't interested in propping things up anymore. 'People get caught up in the politics of it,' Thompson said. 'We can disagree on whether we need the Department of Education or not. But those dollars were being printed and going into people's pockets, and those people spent them, and went on vacation and to the grocery store. So it was growth positive.' Elon Musk, the main force behind D.O.G.E, said last week that he was aiming to cut $1 trillion in government spending by the end of May; he also said he wanted to cut 15% of the government's annual spending, meaning almost $7 trillion. Even if D.O.G.E fails its stated objective and only manages to cut, say, a hundred billion over the course of four years, the bigger cuts are likely to occur at the beginning of Trump's term, not the end, Thompson argued. This means that D.O.G.E's impact on the economy and consumer sentiment is likely to be felt in the coming months, no matter whether the agency actually succeeds or not. Second, the crackdown on illegal immigration at the southern border — combined with the renewed emphasis on deportations — is bound to affect the labour market, Thompson said. Migration is growth positive because it puts pressure on wages; if that labour pool dries up, workers will demand higher salaries, which some businesses won't be able to afford. Thompson's third issue is tariffs. The Trump administration keeps changing up its tariff threats on a day-to-day basis, sometimes promising new ones, sometimes calling them off, creating doubt as to whether the majority of proposed tariffs will actually ever go into effect. But the important thing about tariffs is that they create uncertainty for businesses, which may elect to delay investment or hiring decisions until the tariff situation is resolved. Finally, the Federal Reserve doesn't seem to be in a hurry to loosen financial conditions because inflation data hasn't been great. The U.S. central bank cut interest by a full percentage point at the end of 2024, to 4.25%-4.5%, and even that wasn't enough to push bitcoin above $110,000. Thompson says he expects the Fed to cut anywhere between 25 and 75 basis points in 2025, but that these cuts will be spread out in the second half of the year. 'I think there's a lot more coordination going on between the Treasury and the Fed than people want to believe,' Thompson said. 'People thought Trump and [Fed chair] Powell would be bickering, but they're actually kind of on the same team right now. [Secretary of Treasury] Bessent and Trump are bringing growth down, and that helps Powell achieve lower inflation.' With such headwinds working against risk-on assets like stocks and bitcoin, the crypto sector is unlikely to have a good year, Thompson said. The fact that the White House doesn't seem overly concerned about a potential recession is also a strong signal, he said. 'Bessent is coming in saying, 'We need to right the ship.' And righting the ship means cutting off the juice that was powering these crazy asset prices. The direct result of their policies working is a lower stock market,' Thompson said. But how long is Trump likely to maintain course? Until it becomes too painful and even Trump's political base tells him to cut it out, or until the beginning of 2026 — you can't be pushing a country into a recession with midterm elections coming up. 'I equate this to a controlled burn. They're trying to purposefully clear the brush so that it doesn't become a bigger problem. But sometimes controlled burns become forest fires,' Thompson said. 'I think it's going to be a long kind of slog through the year as they try to enact these policies.' Sign in to access your portfolio
Yahoo
19-02-2025
- Business
- Yahoo
DOGE investigating NASA as federal agencies prepare for spending cuts, layoffs
The Brief Lawmakers and space experts in Central Florida have mixed reactions to potential NASA job cuts as President Trump's Department of Government Efficiency (D.O.G.E), led by Elon Musk, evaluates federal spending. Some, like Congressman Darren Soto, fear cuts could harm the local economy and space industry, while others, like State Senator Randy Fine, believe Musk's leadership will benefit NASA's goals. Space experts argue that NASA should shift focus to private contracts to reduce costs, but the impact on programs like Artemis remains uncertain. BREVARD COUNTY, Fla. - Central Florida lawmakers and space experts have mixed reactions on how possible NASA job cuts could impact the Space Coast. This comes as President Trump's Department of Government Efficiency (D.O.G.E) teams are investigating federal agencies across the country and trying to find ways to cut government spending. NASA told FOX 35 on Tuesday, it's too early for them to comment on how many positions could be cut on the space coast and at other facilities across the U.S., but they are working with the U.S. Office of Personnel Management for guidance and direction. A spokesperson for NASA also confirmed D.O.G.E was on site at NASA facilities on Tuesday. This worries some. What they're saying "Remember when the shuttle ended, it was devastating for parts of Central Florida," said Democrat Darren Soto, who represents Florida's Ninth Congressional District. Soto thinks any cuts to NASA staff of budget will have detrimental consequences on the community. "Cuts or terminating a program would set us back decades and lead to an exodus of space talent leaving Central Florida," said the Congressman. The other side Florida State Senator Randy Fine, who's campaigning for U.S. Congress right now, has a different take on possible cuts. "People should not be worried about that. The guy who is responsible for D.O.G.E is the greatest evangelist for going back to the moon and mars that exists in our country today," said Fine. The guy responsible for gutting federal spending under President Trump is Elon Musk. He's leading D.O.G.E efforts while leading the world in space innovation. Space experts think Musk can help NASA. "You look at Elon coming into this, he brings with him an experience that no other man has had," said David Denault who's a former NPR space correspondent and now hosts the podcast, About Space Today. Denault says the current moon mission needs a closer look because it's costing taxpayers way too much and is "billions of dollars behind schedule." Denault thinks NASA should start to focus more on private contracts, instead of government funding. "Have private contractors write the check and then if they work on the moon and Mars, let's pay for it," said the space expert. As far as Artemis goes, no one really knows how the program will be affected under the new Administration. According to the Planetary Society, NASA's budget in 2024 was just shy of $25 billion. FOX 35 did reach out to D.O.G.E to see what exactly they're looking into here at NASA. This story will be updated when we receive a response from the non-governmental agency. STAY CONNECTED WITH FOX 35 ORLANDO: Download the FOX Local app for breaking news alerts, the latest news headlines Download the FOX 35 Storm Team Weather app for weather alerts & radar Sign up for FOX 35's daily newsletter for the latest morning headlines FOX Local: Stream FOX 35 newscasts, FOX 35 News+, Central Florida Eats on your smart TV The Source The information in this article comes from reporting done by FOX 35's Esther Bower.
