Latest news with #Massie
Yahoo
42 minutes ago
- Entertainment
- Yahoo
Summer reading program returns to the Bloomington Public Library
BLOOMINGTON, Ill. (WMBD) — People of all ages can participate in the Bloomington Public Library's Summer Reading Program. The program started on May 27 and will continue through July 28, according to library spokesperson Rhonda Massie. Those interested in participating can pick up a reading log from the library or the Bookmobile. They can also be printed out at home by visiting the library's website. Kids, teens and adults have their own reading logs to fill out, which will get them the chance to take home prizes if they complete the log before the end of the summer. Prizes will be distributed from June 9 to the end of the program in July. Last year, the library set a record with 5,330 people completing the program. Massie said that was a more than 16% increase over the previous record. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
CNBC
8 hours ago
- Business
- CNBC
'Fantasy math' masks tax bill's U.S. debt impact, GOP lawmaker said. What the deficit means for your money
The massive package of tax cuts House Republicans passed in May is expected to increase the U.S. debt by trillions of dollars — a sum that threatens to torpedo the legislation as the Senate starts to consider it this week. The Committee for a Responsible Federal Budget estimates the bill, as written, would add about $3.1 trillion to the national debt over a decade with interest, to a total $53 trillion. The Penn Wharton Budget Model estimates a higher tally: $3.8 trillion, including interest and economic effects. Rep. Thomas Massie of Kentucky was one of two Republicans to vote against the House measure, calling it a "debt bomb ticking" and noting that it "dramatically increases deficits in the near term." "Congress can do funny math — fantasy math — if it wants," Massie said on the House floor on May 22. "But bond investors don't." A handful of Republican Senators have also voiced concern about the bill's potential addition to the U.S. debt load and other aspects of the legislation. "The math doesn't really add up," Sen. Rand Paul, R-Kentucky, said Sunday on CBS. The legislation comes as interest payments on U.S. debt have surpassed national spending on defense and represent the second-largest outlay behind Social Security. Federal debt as a percentage of gross domestic product, a measure of U.S. economic output, is already at an all-time high. The notion of rising national debt may seem unimportant for the average person, but it can have a significant impact on household finances, economists said. "I don't think most consumers think about it at all," said Tim Quinlan, senior economist at Wells Fargo Economics. "They think, 'It doesn't really impact me.' But I think the truth is, it absolutely does." A much higher U.S. debt burden would likely cause consumers to "pay a lot more" to finance homes, cars and other common purchases, said Mark Zandi, chief economist at Moody's. "That's the key link back to us as consumers, businesspeople and investors: The prospect that all this borrowing, the rising debt load, mean higher interest rates," he said. The House legislation cuts taxes for households by about $4 trillion, most of which accrue for the wealthy. The bill offsets some of those tax cuts by slashing spending for safety-net programs like Medicaid and food assistance for lower earners. Some Republicans and White House officials argue President Trump's tariff policies would offset a big chunk of the tax cuts. But economists say tariffs are an unreliable revenue generator — because a future president can undo them, and courts may take them off the books. Ultimately, higher interest rates for consumers ties to perceptions of U.S. debt loads and their effect on U.S. Treasury bonds. Common forms of consumer borrowing like mortgages and auto loans are priced based on yields for U.S. Treasury bonds, particularly the 10-year Treasury. Yields (i.e., interest rates) for long-term Treasury bonds are largely dictated by market forces. They rise and fall based on supply and demand from investors. The U.S. relies on Treasury bonds to fund its operations. The government must borrow, since it doesn't take in enough annual tax revenue to pay its bills, what's known as an annual "budget deficit." It pays back Treasury investors with interest. More from Personal Finance:How GOP tax bill could change in the Senate3 key moves to consider while Fed keeps rates higherTrump administration axes barrier for crypto in 401(k) plans If the Republican bill — called the "One Big Beautiful Bill Act" — were to raise the U.S. debt and deficit by trillions of dollars, it would likely spook investors and Treasury demand may fall, economists said. Investors would likely demand a higher interest rate to compensate for the additional risk that the U.S. government may not pay its debt obligations in a timely way down the road, economists said. Interest rates priced to the 10-year Treasury "also have to go up because of the higher risk being taken," said Philip Chao, chief investment officer and certified financial planner at Experiential Wealth based in Cabin John, Maryland. Moody's cut the U.S.' sovereign credit rating in May, citing the increasing burden of the federal budget deficit and signaling a bigger credit risk for investors. Bond yields spiked on the news. Zandi cited a general rule of thumb to illustrate what a higher debt burden could mean for consumers: The 10-year Treasury yield rises about 0.02 percentage points for each 1-point increase in the debt-to-GDP ratio, he said. For example, if the ratio were to rise from 100% (roughly where it is now) to 130%, the 10-year Treasury yield would increase about 0.6 percentage points, Zandi said. That would push the yield to more than 5% relative to current levels of around 4.5%, he said. "It's a big deal," Zandi said. A fixed 30-year mortgage would rise from almost 7% to roughly 7.6%, all else equal — likely putting homeownership further "out of reach," especially for many potential first-time buyers, he said. The debt-to-GDP ratio would swell from about 101% at the end of 2025 to an estimated 148% through 2034 under the as-written House legislation, said Kent Smetters, an economist and faculty director for the Penn Wharton Budget Model. It's not just consumer borrowers: Certain investors would also stand to lose, experts said. When Treasury yields rise, prices fall for current bondholders. Their current Treasury bonds become less valuable, weighing on investment portfolios. "If the market interest rate has gone up, your bond has depreciated," Chao said. "Your net worth has gone down." The market for long-term Treasury bonds has been more volatile amid investor jitters, leading some experts to recommend shorter-term bonds. On the flip side, those buying new bonds may be happy because they can earn a higher rate, he said. The cost of consumer financing has already roughly doubled in recent years, said Quinlan of Wells Fargo. The average 10-year Treasury yield was about 2.1% from 2012 to 2022; it has been about 4.1% from 2023 to the present, he said. Of course, the U.S. debt burden is just one of many things that influence Treasury investors and yields, Quinlan said. For example, Treasury investors sent yields sharply higher as they rushed for the exits after Trump announced a spate of country-specific tariffs in April, as they questioned the safe-haven status of U.S. assets. "But it's not going out on too much of a limb to suggest financial markets the last couple years have grown increasingly concerned about debt levels," Quinlan said. Absent action, the U.S. debt burden would still rise, economists said. The debt-to-GDP ratio would swell to 138% even if Republicans don't pass any legislation, Smetters said. But the House legislation would be "pouring gasoline on the fire," said Chao. "It's adding to the problems we already have," Chao said. "And this is why the bond market is not happy with it," he added.
Business Upturn
14 hours ago
- Business
- Business Upturn
Lenovo and Bellevue University Team Up to Offer Supply Chain and Logistics Education to Deliver 'Smarter Technology for All'
Bellevue, Neb., United States: Lenovo, the global technology powerhouse, recognized in the top 10 in the Gartner Supply Chain Top 25, and Bellevue University, one of the nation's top online universities, are teaming up to develop the next generation of supply chain professionals. 'We believe that bringing real-world Global Supply Chain experience and learning directly into an education curriculum is precisely the optimal way to upskill the workforce of the future,' said Ben Massie, Vice President, Global Supply Chain, Lenovo. 'Teaming up with Bellevue allows us to attract the right talent using the right technology and deliver on our mission to make 'smarter technology for all' a reality.' As a preferred higher education institution tapped to team up with Lenovo to offer supply chain short-term learning, Bellevue will leverage the breadth and depth of Lenovo's supply chain expertise across its diverse learner and corporate partner network. Massie continued, 'With a network of over 30 manufacturing sites across nine markets, Lenovo's supply chain is one of our core strengths. By bringing our real-life case studies and insights into the curriculum, we aim to equip students with the skills to succeed in the complex and dynamic working environment. Partnering with Bellevue University, which has a strong track record of working with organizations, allows us to share our knowledge and together build the supply chain experts of the future.' According to a 2024 McKinsey & Company report, a shortage of talent, particularly digital talent, continues to hinder companies' supply chain transformation efforts. Ninety percent of companies surveyed in the report said they lack sufficient talent to meet digitization goals. Now, individuals who enroll in the Supply Chain Operations & Project Management Certificate of Completion can gain sought-after skills through two three-credit hour courses – Management of Supply Chain Operations and Advanced Lean Six Sigma Green Belt. The master's-level courses can be taken concurrently, allowing learners to complete the certificate of completion in under eight months. 'With a deep focus on employee growth planning, we're uniquely qualified to help adult learners and the employers we partner with upskill or reskill their supply chain workforce,' said Dr. Rich Lombardo, Executive Director of Bellevue University's Workforce Skills Academy. 'Working together, we can ensure that the next generation has the skills and knowledge needed to deal with the complexities that are ever-present in global supply chains.' Lenovo's global supply chain leadership provides a singular resource for students and professionals to understand how diversifying manufacturing operations and supply chain resources helps companies thrive during unpredictable periods—a proven, real-world arena for students to apply their education. Lenovo also deploys original AI solutions across its own operations, prioritizes sustainability, and pioneers essential, end-to-end cybersecurity offerings. Dr. Lombardo added that those who complete the Bellevue-Lenovo program will receive two digital badges, a certificate of completion, and six graduate-level credit hours transferable to a master's degree. About Lenovo Lenovo is a US$69 billion revenue global technology powerhouse, ranked #248 in the Fortune Global 500, and serving millions of customers every day in 180 markets. Focused on a bold vision to deliver Smarter Technology for All, Lenovo has built on its success as the world's largest PC company with a full-stack portfolio of AI-enabled, AI-ready, and AI-optimized devices (PCs, workstations, smartphones, tablets), infrastructure (server, storage, edge, high performance computing and software defined infrastructure), software, solutions, and services. Lenovo's continued investment in world-changing innovation is building a more equitable, trustworthy, and smarter future for everyone, everywhere. Lenovo is listed on the Hong Kong stock exchange under Lenovo Group Limited (HKSE: 992) (ADR: LNVGY). To find out more visit and read about the latest news via our StoryHub. About Bellevue University's Workforce Skills Academy Through the Workforce Skills Academy, Bellevue University empowers organizations to transform their workforce with innovative employee growth strategies, consultation and assessment support, custom funding solutions and industry-relevant offerings. The Workforce Skills Academy is rooted in Bellevue University, a non-profit university founded in 1966 that today has more than 70,000 graduates worldwide. The University is a recognized national leader in preparing students for lifelong success with career-relevant knowledge and skills, while making college affordable. Routinely ranked among the nation's top military and accessible institutions, the University serves residential students at its main campus in Bellevue, Nebraska, and everywhere online with more than 85 degree programs uniquely designed for working adults. The University is accredited by The Higher Learning Commission ( View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same.
Daily Record
4 days ago
- Business
- Daily Record
Perth and Kinross councillor calls for urgent review of national planning policy on retail developments
The Planning and Placemaking Committee convener believes the current policy on retail developments "lacks coherence" and risks "stifling competition" Perth and Kinross Council's (PKC) planning convener has written to the Scottish Government saying there is an "urgent need" for a review of national planning policy regarding retail. SNP councillor Ian Massie - who wrote to Public Finance Minister Ivan McKee on behalf of PKC's Planning and Placemaking Committee - said the current policy "lacks coherence" and "will not strengthen town centre High Streets". Cllr Massie's committee requested he write the letter after councillors approved a new Lidl supermarket on Perth's Crieff Road, going against the council officers' recommendation of refusal which was based on national policy. On Wednesday, March 12 councillors voted by nine votes to two to grant Lidl permission to invest £10 million building a second Perth store and creating over 30 jobs. They rejected council officers' recommendation to refuse the application, arguing the development would give residents "more choice" and supported the National Planning Framework 4's (NPF4) 20-minute neighbourhoods. The only objector to the application was Tesco, which has a store on the other side of McDiarmid Park from the proposed Lidl site. At the March meeting, convener Ian Massie pledged to write to Scotland's Public Finance Minister raising the committee's concerns about the conflicting national planning policy. In response to a request from the Local Democracy Reporting Service, PKC this week shared both Cllr Massie's letter and the response he received from Ivan McKee MSP. In his letter, Cllr Massie said the current policy could result in "stifling competition". Referring to the committee's decision over the Lidl application, he wrote: "The officers' recommendation was for refusal on the grounds that it did not meet Policy 28: (a) and (c) as it was not located in an existing city, town or local centre, nor was it in an edge of centre area, or an allocated site within the LDP; (b) was not applicable as it did not meets the terms of (a); and also (c) Small scale neighbourhood development because the proposal could not be classed as small scale. "Whilst the committee agreed the criteria for Policy 28 (a) and (c) had not been met they went against officers' advice and granted permission stating that the application should be supported because it would provide over 30 jobs in the local area, help families on limited income afford more with what income they have and aligns with the Scottish Government's approach to 20-minute neighbourhoods , as outlined through Policy 15 of NPF4." He called for planning policy to meet the "specific needs of our communities". The Perth City North ward councillor added: "Currently, the framework for Policy 28 lacks coherence on several crucial aspects, including the balance between High Street regeneration, out-of-town developments, and the promotion of sustainable practices within retail. However fundamentally, there is the lack of a specific reference to what floorspace thresholds should be deemed to define what is small scale neighbourhood development. "Unless there is an early review of the retail policy of NPF4 the likelihood is that the current policy will result in the planning system in Scotland stifling competition in this sector. This will favour those operators who secured consents for out-of-town centre sites over the last 20 years to the detriment of newer and possibly more innovative operators. It will not strengthen town centre High Streets. This is not 'good planning'. " Ivan McKee thanked Cllr Massie for his letter and said the intent of the national planning policy was "to encourage, promote and facilitate retail investment to the most sustainable locations that are most accessible by a range of sustainable transport modes". The Minister for Public Finance said there were a "range of factors" which need to be considered in planning assessments and there were no plans to review the policy. Mr McKee said: " There is no scheduled review of NPF4 at this time, however it is helpful to have your input on the effectiveness of NPF4 policies and I am grateful to you for sharing your thoughts and experiences with us."
Newsweek
4 days ago
- Politics
- Newsweek
Republican Says US Should End All Military Aid to Israel
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. Republican Representative Thomas Massie of Kentucky said Thursday night that the United States should stop all military aid to Israel, citing mounting civilian casualties in the Gaza Strip. Newsweek reached out to Massie's office via email Thursday for comment. Why It Matters Tensions in the Middle East remain high despite ongoing ceasefire negotiations between the Israeli government and Hamas, with the U.S. acting as a key interlocutor. Tens of thousands of people in Gaza have died as a result of Israel's war against Hamas, which was launched in response to Hamas' attack in Israel on October 7, 2023. President Donald Trump, meanwhile, has repeatedly suggested that the U.S. "take over the Gaza Strip," adding at a news briefing alongside Israeli Prime Minister Benjamin Netanyahu: "We'll own it and be responsible for dismantling all of the dangerous unexploded bombs and all of the other weapons on the site." Asked about the possibility of sending U.S. troops into Gaza, Trump said: "As far as Gaza is concerned, we'll do what is necessary, if it's necessary, we'll do that." Representative Thomas Massie (R-KY) is seen speaking to reporters following a series of votes at the U.S. Capitol on March 11, 2025, in Washington, D.C. (Photo by) Representative Thomas Massie (R-KY) is seen speaking to reporters following a series of votes at the U.S. Capitol on March 11, 2025, in Washington, D.C. (Photo by) What To Know Massie's remarks about ceasing U.S. military aid to Israel come as the U.S.-backed Gaza Humanitarian Foundation (GHF) faces intense criticism over what critics describe as a chaotic approach to aid distribution. Video footage and photos posted to social media have shown thousands of Palestinians scrambling for food amid reports of Israeli gunfire and multiple casualties. In his post to X on Thursday, the Kentucky lawmaker said, "Nothing can justify the number of civilian casualties (tens of thousands of women and children) inflicted by Israel in Gaza in the last two years. We should end all U.S. military aid to Israel now." Massie has long been outspoken about his views of Israel and was the only Republican to vote against a bill condemning antisemitism in 2022. The Kentucky Republican later defended his vote on X, formerly Twitter, saying, "I don't hate anyone based on his or her ethnicity or religion." "Legitimate government exists, in part, to punish those who commit unprovoked violence against others, but government can't legislate thought," Massie added. "This bill promoted internet censorship and violations of the 1st amendment." In March 2024, Massie voted against a bill that would have forced then-President Joe Biden to approve more military assistance to Israel. Last October, while Israel was carrying out its military campaign in Lebanon, Massie posted on X: "If Israel insists on destroying civilian targets in Lebanon, let them buy and build their own weapons. American taxpayers should not be funding this." Massie is no stranger to criticism, including from members of his own party. He's repeatedly voted "no" on congressional budget proposals backed by the Republican Party. Most recently, he drew President Donald Trump's and senior GOP lawmakers' ire when he voted against the Trump-backed bill that recently passed the House of Representatives, arguing that it would balloon the national deficit. Nothing can justify the number of civilian casualties (tens of thousands of women and children) inflicted by Israel in Gaza in the last two years. We should end all U.S. military aid to Israel now. — Thomas Massie (@RepThomasMassie) May 30, 2025 This story is developing and will be updated as more information becomes available.
