Latest news with #Trump-Backed
Yahoo
7 days ago
- Business
- Yahoo
White House Says Elon Musk Ripping Trump-Backed Bill as ‘Disgusting Abomination' Doesn't Change a Thing
White House Press Secretary Karoline Leavitt responded Tuesday to former Trump committee staffer Elon Musk calling the administration's new spending bill a 'disgusting abomination' that is 'outrageous' and 'pork-filled,' telling members of the press that the tech mogul's opinion doesn't change a thing. 'The president already knows where Elon Musk stood on this bill, it doesn't change the president's opinion,' Leavitt said, responding to Fox News' Peter Doocy who asked 'how mad' President Trump would be over Musk's criticism of the bill. 'This is one big, beautiful bill, and he's stickin' too it.' Watch the moment below: Musk said in a tweet Tuesday 'shame on those' congress members who voted for President Donald Trump's 'big beautiful bill,' which the Tesla and SpaceX boss called a a 'disgusting abomination.' 'I'm sorry, but I just can't stand it anymore,' Musk posted on X, the social media platform he owns. 'This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination. Shame on those who voted for it: you know you did wrong. You know it.' Soon after, he added in a separate X post that the bill will add $2.5 trillion the U.S. deficit and burden Americans with 'crushingly unsustainable debt.' This is the second time Musk has criticized the bill in the last week. Last Tuesday, Musk said he was 'disappointed' in the bill and felt the Department of Government Efficiency (DOGE.), which he spearheaded for Trump until May 30, had become a political 'whipping boy.' His comments on Tuesday stand out, considering it comes just a few days after Trump gave Musk a warm send-off from the White House, as HIS 130-day term with his Administration came to an end. The president called Musk an 'incredible patriot' during the joint press conference from the Oval Office and applauded him for his work with leading DOGE; he also gave Musk a gold key to the White House. Musk has said in recent months DOGE would ideally cut $1 trillion-$2 trillion from the annual federal budget, and as of Friday, DOGE has estimated it has cut $175 billion. 'This is not the end of DOGE, but really the beginning,' Musk, while donning a black DOGE hat and a black shirt saying 'The Dogefather,' said at the press conference. He said the DOGE team will 'only grow stronger' in the years ahead, as its influence begins 'permeating throughout the government.' 'It's sort of like Buddhism; it's like a way of life,' Musk post White House Says Elon Musk Ripping Trump-Backed Bill as 'Disgusting Abomination' Doesn't Change a Thing appeared first on TheWrap.
First Post
19-05-2025
- Business
- First Post
Trump-Backed Firm Signed Crypto Deal with Pakistan Days After Pahalgam
Trump-Backed Firm Signed Crypto Deal with Pakistan Days After Pahalgam | Vantage with Palki Sharma Trump-Backed Firm Signed Crypto Deal with Pakistan Days After Pahalgam | Vantage with Palki Sharma A company, owned by Donald Trump's family, signed a cryptocurrency deal with Pakistan, days after the Pahalgam terror attack. Does this business deal explain Trump's decision to intervene and bail out Pakistan? Palki Sharma tells you. See More
Yahoo
23-04-2025
- Politics
- Yahoo
‘The View': Whoopi ‘Insulted' by Trump-Backed $5,000 Baby Bonus Because You ‘Can't Even Go to the Hospital' for That
The Trump administration is reportedly mulling over the idea of giving out a $5,000 bonus to incentivize Americans to have more children, and on Wednesday morning's episode of 'The View,' host Whoopi Goldberg scoffed at the offer. Teeing up the topic for the table, the ABC host put on her valley girl accent, something she typically reserves for mocking topics she is uninterested in or bothered by. In this case, it was the latter, and Whoopi immediately explained why. 'I am incredibly insulted by this, because they clearly they don't know how women's bodies work, and they don't know what it costs to raise a child, or just have a child!' she said. '$5,000? I don't know what $5,000 is supposed to do. And it's not even $5,000, because you have to cut it in half because you got to pay taxes on it. So they're offering you $2,500 to have a baby!' Host Alyssa Farah Griffin was quick to caveat that it would depend on your tax bracket, and actually supported the idea herself. As the conversation went on, Farah Griffin suggested that some money was better than no money, which Whoopi promptly pushed back on. 'No, not in this case,' Whoopi shot back immediately. 'No.' From there, the moderator went on to list various programs that have been victims of the Trump administration's funding cuts — specifically programs that are designed to help families. '$1 billion in funding for schools and food banks, to buy food, was cut,' she detailed. 'Withdrew funding for investigating child sexual abuse and internet crimes against children, cut. Fired the entire staff running a program to help low income households pay their heating and cooling bills. Now, these families already exist!' 'If you want people to have children, you have to not scare them by cutting all these programs that they may need,' she added. As the discussion came to a close, Whoopi once again noted how insulting the actual number is, pointing out that, in most cases, that wouldn't even make a dent in healthcare bills. 'I am insulted by that amount, because you can't even go to the hospital for $5,000 for goodness sakes,' she said. 'The View' airs weekdays at 11 a.m. ET. The post 'The View': Whoopi 'Insulted' by Trump-Backed $5,000 Baby Bonus Because You 'Can't Even Go to the Hospital' for That appeared first on TheWrap.
Yahoo
28-03-2025
- Business
- Yahoo
Northern Trust to Provide Custody, Cash Management Services for Stablecoin Issuer Haycen
TradFi giant Northern Trust (NTRS) will provide custody and cash management services for trade finance focused stablecoin issuer Haycen, the company said in a press release Thursday. Northern Trust Asset Servicing will be responsible for providing Haycen with global custody services for its client fiat deposits, and Northern Trust Asset Management will provide cash sweep services, the company said. Stablecoins are cryptocurrencies whose value is tied to another asset, such as the U.S. dollar or gold. They play a major role in cryptocurrency markets and are also used to transfer money internationally. Haycen is a trade finance digital payments provider, with operations in the U.K. and Europe. The company offers wholesale stablecoin-based solutions for non-bank lenders in global trade. Trade finance is a vital part of global commerce that is ripe for modernization. The industry is still reliant on manual workflows and can be expensive for banks and companies involved. Access is also an issue. Smaller sized businesses are prevented from accessing trade finance due to the costs and complexity of the existing system. This is where stablecoins can help. Haycen offers increased availability to U.S. dollars via stablecoins, combined with instant settlement, thereby reducing the traditional friction associated with cross-border transfers. "Global trade is an incredibly important part of the economy and a fantastic market for us as a stablecoin solution; the global flow of goods and services relies on liquidity moving unencumbered and successive regulatory changes have forced banks to scale back trade lending operations," said Luke Sully, founder and CEO of Haycen, in emailed comments. "That's left a gap in the market for non-bank players looking for new ways to move the $2 trillion of annual flows, 95% of which is denominated in USD," Sully said, adding that "for these participants, using stablecoins combines yield enhancement with the certainty of instant free global settlement." Haycen has received funding from the U.K. government to develop institutional-grade stablecoins. These cryptocurrencies have been grabbing headlines this week. Fidelity Investments is in advanced stages of developing its own stablecoin, the Financial Times reported on Wednesday. World Liberty Financial (WLFI), a decentralized finance protocol backed by U.S. President Trump, also confirmed its own plans to launch a stablecoin. Read more: Trump-Backed World Liberty Financial Confirms Dollar Stablecoin Plans With BitGo Sign in to access your portfolio
Yahoo
20-03-2025
- Politics
- Yahoo
GOP Lawmaker Who Ousted Liz Cheney Says It's 'Bizarre' How 'Obsessed' People Are with Government at Explosive Town Hall
Wyoming Rep. Harriet Hageman faced an angry crowd at a local town hall on Wednesday, March 19, marking one of several recent incidents where constituents have confronted Republican members of Congress about the Trump administration's aggressive actions. Hageman — who ousted incumbent Liz Cheney in a landslide victory in the 2022 election for the state's only congressional district — laughed aloud during the public event as a crowd of frustrated Wyomingites booed her praise for President Donald Trump and the Elon Musk-led Department of Government Efficiency. 'I voted in favor of the continuing resolution, or CR, which extends funding for the fiscal year until September 30,' Hageman said, prompting the booing to begin. 'It keeps the lights on for President Trump and DOGE to continue their work.' Related: Liz Cheney Shares Voicemail After Her Opponent Claims Cheney Never Conceded: 'I'm Calling to Concede' A local reporter with the Cowboy State Daily estimated that about three-quarters of the crowd of more than 500 attendees at the Laramie Plains Civic Center were there to protest Hageman. The sophomore congresswoman ran in 2022 with the support of Trump, following Cheney's work as vice chair of the House committee that investigated the Jan. 6, 2021, Capitol riot. Related: Rep. Liz Cheney Defeated by Trump-Backed Candidate Harriet Hageman in Wyoming Republican Primary At times, Wednesday's crowd devolved into chants of 'Tax the rich!' and 'January 6th!'' But some of the loudest reactions of the night came when the congresswoman mentioned DOGE and Musk's threats to cut Social Security. Attempting to ignore the ruckus, Hageman told the crowd, 'During the continuing resolution, we are not allowed to touch Social Security, so I would request that you actually watch some accurate TV and read valid news, because that is untrue.' 'It's so bizarre to me how obsessed you are with federal government," she added. Related: Federal Tech Workers Refuse to 'Dismantle Critical Public Services' and Mass Resign from Elon Musk's DOGE Despite Trump's repeated 2024 campaign promise to not cut 'one penny' from Social Security, since taking office he's referred to the government aid as a 'scam,' while Musk recently called it a 'Ponzi scheme.' 'There's a massive amount of fraud of, basically, people submitting Social Security numbers for Social Security benefits, unemployment, Small Business Administration loans and medical care,' Musk said in Fox Business interview on March 10. 'We're trying to put a stop to all of that.' Related: Elon Musk Has Been Sleeping on the Floor of His Government Office Across from the White House (Exclusive Sources) The changing rhetoric on Social Security seemingly fueled the frustration toward Hageman for supporting Congress' new funding plan, which has been criticized for giving Trump and Musk more power over the federal budget. Reacting to her crowd's anger, Hageman said, 'You guys are going to have a heart attack if you don't calm down. I'm sorry, your hysteria is just really over the top." Wyoming residents aren't the only people to get worked up about Musk's influence on the current administration. House Republicans around the nation have faced aggressive pushback at numerous public appearances recently, to the point that a national GOP official urged them to stop hosting in-person town halls for fear of the optics, The New York Times reported in early March. Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer. Last week, Connecticut Rep. John Larson had a heated exchange with his Republican colleagues on the House Ways and Means Committee, berating them for blocking the unelected billionaire's testimony on Social Security cuts. 'Where's the independence of the committee?' he yelled. 'Where's the legislature? We're an equal branch of government.' Even 'shame' couldn't bring Trump and Musk's supporters to be honest about their true plans, Larson claimed. '[Musk has] been on television the last couple of days talking exactly about Social Security, Medicare, and Medicaid, and what he intends to do: privatize it,' he continued. 'The American people, some of them may have been born at night, but not last night.' Read the original article on People
