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Daily Telegraph
14 hours ago
- Politics
- Daily Telegraph
US politics live: ‘Fallen out of favour': Trump rift deepens
Welcome to our coverage of US politics. Rifts continue to emerge in Donald Trump's inner circle regarding the possibility of striking Iran. The US president has already chided national intelligence director Tulsi Gabbard who stated that Tehran wasn't actually that close to getting a nuclear bomb. Now, despite her critical role, Ms Gabbard has reportedly 'fallen out of favour' with Mr Trump. On Thursday, US time, Mr Trump took his intelligence briefing in the White House Situation Room. This is from where he has been co-ordinating the US' position on Iran. A new poll has suggested that a majority of 'MAGA Republicans' would support a US strike on Tehran. That would fly in the face of other reporting which has suggested Trump followers are far more keen on his no new wars message. Former US president Bill Clinton has made an intervention on Iran with a direct message to Mr Trump. And Vice President JD Vance has been kicked off a competitor to Elon Musk's X just minutes after joining. Read on for more updates. Originally published as US politics live: 'Fallen out of favour': Trump rift deepens
News.com.au
16 hours ago
- Politics
- News.com.au
US politics live: ‘Fallen out of favour': Trump rift deepens
Welcome to our coverage of US politics. Rifts continue to emerge in Donald Trump's inner circle regarding the possibility of striking Iran. The US President has already chided National Intelligence Director Tulsi Gabbard who stated that Tehran wasn't actually that close to getting a nuclear bomb, Now, despite her critical role, Ms Gabbard has reportedly 'fallen out of favour' with Mr Trump. On Thursday, US time, Mr Trump took his intelligence briefing in the White House Situation Room. This is from where he has been co-ordinating the US' position on Iran. A new poll has suggested that a majority of 'MAGA Republicans' would support a US strike on Tehran. That would fly in the face of other reporting which has suggested Trump followers are far more keen on his no new wars message. Former US president Bill Clinton has made an intervention on Iran with a direct message to Mr Trump. And Vice President JD Vance has been kicked off a competitor to Elon Musk's X just minutes after joining.
CBS News
16 hours ago
- Politics
- CBS News
Former Chicago Mayor Rahm Emanuel considering run for president, Crain's reports
Former Chicago Mayor and Ambassador to Japan Rahm Emanuel is reportedly considering a run for president in 2028. In an interview with Crain's Chicago Business, Emanuel said he's looking at the Democratic field and what he could contribute. The former mayor has been making the media rounds, talking about what the party needs to do to bring voters back to its caucus. For him, he said that includes focusing on so-called kitchen table issues and not worrying about political correctness. Emanuel has been coy about his possible plans for his political future since leaving his ambassador post at the end of the Biden administration. He also hasn't ruled out another run for mayor in 2027, or a run for governor in 2026 if Gov. JB Pritzker doesn't seek a third term. Former Illinois Republican Party chairman Pat Brady said Emanuel confirming he's considering a run for president in 2028 might amount to nothing more than "testing the waters." "His message, it's not like the rest of the Democrats' message. He's much more centrist, kind of what Bill Clinton did in '92, and I think he's probably testing to see how well-received that is, because there's some people who don't want to hear that message," Brady said. Compared to recent presidential races, Brady said he expects the Democratic field in 2028 to be a bit more moderate. "Yes, in '92, Bill Clinton basically saved the Democratic Party by bringing it back to the center, and I think that's what Ambassador Emanuel, Mayor Emanuel is trying to do, but that may be an uphill climb, because a party like the Republican Party may have moved into a different direction," Brady said. "The Democrats have to take a good hard look at themselves. They lost to Donald Trump twice, twice; probably one of the weakest candidates the Republicans have put up in the party's history, and twice they lost to him, so they've got to take a good look at what they're doing." Brady said, for Democrats to win in 2028, he believes they need to start focusing on kitchen table issues to win over middle class voters who supported Trump in 2024.o contributed to this report.
Forbes
2 days ago
- Business
- Forbes
It's The Early 1990s Bond Market Again
Three decades ago, a president squarely focused on middle-out growth realized, much to his frustration, that the best thing to do for the nation's working class would hurt him politically — at least in the short term. The first Democrat to be elected President after A Wall St sign hangs at the New York Stock Exchange (NYSE) at Wall Street on March 23, 2021 in New ... More York City. -(Photo by Angela Weiss / AFP) (Photo by ANGELA WEISS/AFP via Getty Images) Reaganomics had blown a hole in the deficit, Bill Clinton understood that high interest rates for borrowers — small businesses, homebuyers, and ordinary consumers alike — were the primary barrier to broad-based prosperity. To bring those rates down in the service of more robust growth, he would have to do something voters of almost every stripe hate: pare back the federal government's deficit by cutting spending and raising taxes. He did exactly that, and the economic growth that followed meant Clinton left office boasting the only federal surpluses in recent history. The lessons of his success bear heavily on the political debate today in Washington because, for the first time in 30 years, the yawning gap between federal revenues and federal outlays is poised to emerge again as the prime barrier to domestic economic growth. And yet the Trump administration's decision to put its head in the sand on this issue with its misnamed Big Beautiful Bill threatens today to cut the nation's working-class families off at the knees. It's worth making the connections explicit because they explain both how this moment and 1994 are similar, and how they each differ from the economic fundamentals that held in between. Among the primary drivers of American economic growth are borrowing costs. If an entrepreneur is forced to pay more to borrow the money required to, say, build a new factory, she is less likely to do so. Borrowing costs are determined largely by interest rates — the higher the rate, the more it costs to invest. Interest rates are, in turn, heavily influenced by the bond market. And the bond market is heavily influenced by how bond traders perceive the federal budget. If, in their view, Washington is piling up debt such that traders are prone more to worry that the government will default, they'll raise the interest rate on federal bonds. And those higher rates then trickle down to the rest of the economy, raising borrowing costs, and slowing growth. That's exactly what happened during the 12 years that Ronald Reagan and George H.W. Bush served as president — government spending growth vastly outpaced federal revenue. And by the early 1990s, high interest rates were making it much harder for businesses to invest. Clinton's election in 1992 reflected the public's economic frustration — but cutting the deficit means either slashing government spending or raising taxes, neither of which is popular with voters. So, Clinton used his deft political talents and a deep well of political courage to do what was politically difficult. And while that hurt Democrats in the short-term — no one working in the White House in 1994 (including myself) will ever forget the shellacking Democrats experienced in that year's midterms — he left office in 2001 with the economy and faith in government on solid footing. The numbers bear this out. Because of the difficult choices President Clinton made, spending as a percentage of GDP fell to around 17.5%, and revenue as a percentage of GDP topped out at 19.7%. The results were sizable federal surpluses — and mortgage rates that declined by around 3 percentage points — saving middle-class families billions. Unfortunately, over the next quarter of a century, both Republicans and Democrats have allowed spending growth to explode past federal revenues. Today, federal spending is over 23% of GDP, while receipts have dropped to 16.8%. For a while, the bond market's reaction to the deficit's re-emergence was fairly muted. In the wake of the 2008 financial crisis, federal treasury bonds still appeared comparatively safe. So even as many in Washington warned about the dangers of sustained deficit spending, interest rates remained low, and domestic economic growth remained relatively strong. Today, however, the costs of all that debt are coming home roost. Like in the early 1990s, America's economy is up against a bond market that is flashing signs that borrowing costs are poised to explode. The evidence is right there for everyone to see. The U.S. dollar index, which measures the value of the greenback against six foreign currencies, has dropped more than 8% since January. At the same time, U.S. bond yields have been rising, defying the economic pattern that defined the previous quarter-century. In times of uncertainty, investors typically flock to US Treasuries, viewing bonds as a safe place to park their money. The rising yields suggest the bond market is less confident in federal debt. And that flagging confidence is now poised to filter down through the rest of the economy. This is perhaps the most important reason everyone should be so worried about the Republicans' Big Beautiful Bill. It would signal to an already skittish bond market that, far from taking the deficit seriously, Washington can't be stopped from digging its own hole. Three decades ago, Bill Clinton accepted the short-term political costs of bringing federal revenues and expenses back into line. The question today is whether those with power in Washington have any of the same wisdom or courage.
Yahoo
2 days ago
- General
- Yahoo
When is Son's Day? When is Daughter's Day? Here's when to celebrate family 2025
Mother's and Father's days have passed officially, and the children are ready to be celebrated too. While both holidays have a month of their own to celebrate, Daughter's and Son's days are both celebrated in September. These holidays, although not traditionally observed to the same level as the spring holidays, are still great days to celebrate with your family. In addition to days for daughters and sons, the year has not passed on Sister's Day – sorry bros, going to have to wait until May 24 – which will arrive in August. However, parents don't need to be discouraged either, as Parents' Day is just over a month away. Here are the upcoming family holidays for the rest of the year. Parents' Day occurs annually on the fourth Sunday of July, making this year's holiday on Sunday, July 27, 2025. According to the National Day Archives, former President Bill Clinton got some headway on the holiday after signing a bill in 1994 that emphasized the significance of parents in family life. Sister's Day is celebrated annually on the first Sunday of August, making this year's holiday on Sunday, Aug. 3, 2025. The day has an unknown origin, according to National Day Archives. The website suggests that appropriate ways to celebrate include spending time with your sister, whether that be a relative or someone with whom you share a sense of sisterhood. Before we get to separate holidays for sons and daughters, they have one joint holiday on Aug. 11, 2025. The holiday is celebrated annually on Aug. 11. Daughter's Day is celebrated on Sept. 25 annually, making this year's holiday on Thursday, September 25, 2025. National Daughter's Day celebrates daughters around the world. According to the National Day Archives, the holiday was created to 'erase the stigma in some countries attached to having a girl instead of a boy child,' and now is celebrated to cherish the gift of daughters. Son's Day has two days to celebrate. The first is annually on March 4 and the second on Sept. 28. The second occurrence falls on Sunday, Sept. 28, 2025. It's unclear why there are two days to celebrate sons. Both holidays came about in the age of the internet, and some choose to blame social media for causing the double day. This article originally appeared on Oklahoman: When is Son's Day, Daughter's Day? When to celebrate family 2025
