By JOSH BOAK WASHINGTON (AP) — President Joe Biden said Tuesday he was “stupid” not to put his own name on pandemic relief checks in 2021, noting that Donald Trump had done so in 2020 and likely got credit for helping people out through this simple, effective act of branding. Biden did the second-guessing as he delivered a speech at the Brookings Institution defending his economic record and challenging Trump to preserve Democratic policy ideas when he returns to the White House next month. Related Articles National Politics | Trump names Andrew Ferguson as head of Federal Trade Commission to replace Lina Khan National Politics | Biden issues veto threat on bill expanding federal judiciary as partisan split emerges National Politics | Rick Scott condemns garlic from China as a ‘major threat’ to U.S. security and food safety National Politics | Trump lawyers and aide hit with 10 additional felony charges in Wisconsin over 2020 fake electors National Politics | After withdrawing as attorney general nominee, Matt Gaetz lands a talk show on OANN television As Biden focused on his legacy with his term ending, he suggested Trump should keep the Democrats’ momentum going and ignore the policies of his allies. The president laid out favorable recent economic data but acknowledged his rare public regret that he had not been more self-promotional in advertising the financial support provided by his administration as the country emerged from the pandemic. “I signed the American Rescue Plan, the most significant economic recovery package in our history, and also learned something from Donald Trump,” Biden said at the Washington-based think tank. “He signed checks for people for 7,400 bucks ... and I didn’t. Stupid.” The decision by the former reality TV star and real estate developer to add his name to the checks sent by the U.S. Treasury to millions of Americans struggling during the coronavirus marked the first time a president’s name appeared on any IRS payments. Biden and Vice President Kamala Harris , who replaced him as the Democratic nominee , largely failed to convince the American public of the strength of the economy. The addition of 16 million jobs, funding for infrastructure, new factories and investments in renewable energy were not enough to overcome public exhaustion over inflation, which spiked in 2022 and left many households coping with elevated grocery, gasoline and housing costs. More than 6 in 10 voters in November’s election described the economy as “poor” or “not so good,” according to AP VoteCast, an extensive survey of the electorate. Trump won nearly 7 in 10 of the voters who felt the economy was in bad shape, paving the way for a second term as president after his 2020 loss to Biden. Biden used his speech to argue that Trump was inheriting a strong economy that is the envy of the world. The inflation rate fell without a recession that many economists had viewed as inevitable, while the unemployment rate is a healthy 4.2% and applications to start new businesses are at record levels. Biden called the numbers under his watch “a new set of benchmarks to measure against the next four years.” “President-elect Trump is receiving the strongest economy in modern history,” said Biden, who warned that Trump’s planned tax cuts could lead to massive deficits or deep spending cuts. He also said that Trump’s promise of broad tariffs on foreign imports would be a mistake, part of a broader push Tuesday by the administration to warn against Trump’s threatened action. Treasury Secretary Janet Yellen also issued a word of caution about them at a summit of The Wall Street Journal’s CEO Council. “I think the imposition of broad based tariffs, at least of the type that have been discussed, almost all economists agree this would raise prices on American consumers,” she said. Biden was also critical of Trump allies who have pushed Project 2025 , a policy blueprint from the Heritage Foundation that calls for a complete overhaul of the federal government. Trump has disavowed participation in it, though parts were written by his allies and overlap with his stated views on economics, immigration, education policy and civil rights. “I pray to God the president-elect throws away Project 2025,” Biden said. “I think it would be an economic disaster.” Associated Press writer Fatima Hussein in Washington contributed to this report.
( MENAFN ) Turkey’s defense industry has reached a 70 percent domestic production capacity in 2024, according to the Turkey Defense Industry 2024 report released by the Independent Industrialists' and Businessmen's Association (MUSIAD) on Friday. The report assesses the current state and future outlook of Turkey's defense sector, noting significant progress in key strategic products and a notable rise in domestic production capacity. The MUSIAD Defense Industry Board’s evaluation in the report emphasizes the need to reduce foreign dependence, particularly in engine and power transmission systems. It points out that despite advancements, there remains reliance on foreign sources for engine and power transmission systems, particularly for the ALTAY main battle tank and other military platforms. The report stresses that domestic engine production remains a critical area of focus. Fatih Altunbas, Chairman of the MUSIAD Defense Industry Board, whose insights were featured in the report, underlined the importance of enhancing R&D in advanced materials technologies. "Domestic production should be boosted, and reliance on foreign technology in composite materials such as graphene, nanomaterials, and carbon fiber must be reduced," Altunbas said. MENAFN28122024000045016755ID1109037624 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Leonardo DiCaprio’s Art Adviser on the Ten Commandments of CollectingJewish community members are set to gather in solidarity in the wake of Friday’s firebombing of the Adass Israel Synagogue. Religious leaders have described a heightened sense of fear in the community since Friday’s attack in Melbourne’s southeast. More than a thousand community members are expected to meet at an undisclosed location in Ripponlea to “stand against hate” on Sunday. The rally will finish with flowers being laid at the synagogue. “This rally is a moment to unite, reflect and reaffirm our shared commitment to resilience and togetherness in our community,” organisers J-United said. The Adass Isreal Synagogue remains closed to the public after it was set alight by two masked men in what police have described as a targeted attack. Two of its three buildings were gutted and two congregants who were inside at the time preparing for morning prayers were evacuated, one suffering minor injuries. Police have confirmed they are also investigating reports of a bullet found on a footpath near the Synagogue in Glen Eira Road on Saturday afternoon. Orthodox Jewish parents and children walking through the Ripponlea neighbourhood in Melbourne’s southeast on Saturday paused to take in the damage. The attack on a place of worship, which was built by Holocaust survivors, has led to a heightened sense of fear in the community, Executive Council of Australian Jewry president Daniel Aghion said. Victorian Premier Jacinta Allan confirmed increased police patrols to bolster safety into the coming week and pledged $100,000 towards rebuilding. Despite condemning the attack, she is not expected to attend Sunday’s rally. Politicians and religious leaders unanimously condemned the anti-Semitic arson attack, with Mr Albanese offering to send in Australian Federal Police to help with the Victoria Police investigation. It has also prompted NSW to consider new laws to better protect religious freedoms. Premier Chris Minns said NSW would consider reforms to laws regulating protests outside religious institutions and places of worship that aimed to intimidate or prevent people from practising their faith. He said the government would aim to balance people’s rights to religious freedoms with the right to protest. The incident prompted Israel’s Prime Minister Benjamin Netanyahu to hit out at the Australian government, saying he expected action to prevent future violence. In response, the Australian Palestine Advocacy Network said any attack on a place of worship was an unacceptable act of hate via social media but accused Mr Netanyahu of seeking to sow division as a distraction from his government’s actions. Former federal treasurer Josh Frydenberg called on Prime Minister Anthony Albanese to set up a police task force devoted to stamping out anti-Semitism and declare the Ripponlea attack a terrorist act. A pro-Palestine rally is expected to be held outside the State Library of Victoria in Melbourne CBD on Sunday that will end with a march through the CBD. That rally has been running weekly for the past year.Mikaela Shiffrin suffers abrasion on hip during crash on final run of World Cup giant slalom
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The Ravens looked better defensively last week, but now Roquan Smith's injury is a concernThe 54-year-old TV presenter revealed in 2021 that she had been diagnosed with breast cancer and later underwent a mastectomy during which her breast plus two lymph glands were removed before reconstruction took place. Bradbury has since stopped drinking alcohol and has changed the priorities in her life, but revealed she has received some pushback on social media from sharing her approach. She told The Times Weekend magazine: “I wasn’t close to death, but death looked me in the eyes. So I am more focused on my health than I ever have been. “I don’t drink, I eat a healthy diet and exercise every day. “When I came home from my mastectomy, I promised I would spend time outside every day, and that is my mantra, however poor it might be in this shitty winter.” Bradbury, who has since been given the all-clear, said a doctor recently helped her reframe how she utilises her energy. She recalled: “He said, ‘This drive that you have – you’re running on a credit card. You can push through all sorts of things. But is that the best thing for you?’. “I realised you don’t have to win every race. You don’t have to overcome everything. I don’t want to max out the credit card.” The presenter previously discussed her experience in an ITV documentary, Julia Bradbury: Breast Cancer And Me, which followed her as she came to terms with her diagnosis and prepared to undergo her single mastectomy. She also regularly shares her wellness and fitness tips with her more than 270,000 Instagram followers. However, she revealed she has had pushback from people saying, “I was healthy, I go to the gym, I got cancer, and now its metastasised and I’ve got secondary cancer. So are you blaming me for my illness?”. A post shared by JULIA BRADBURY (@juliabradbury) Responding to the accusations, she added: “No. All I’m saying is, this is what I went through. It was a wake-up call, and it made me look at life differently. “It made me prioritise my sleep, emotional health, and give more time to my loved ones. “If I drink more than four units of alcohol a week, my risk of reoccurrence goes up by 28%. But people find me giving up drinking infuriating.” Bradbury, who has a 13-year-old son Zephyr, and nine-year-old twins Xanthe and Zena, said having children later in life has caused her to not be as “patient” as she feels she should be at times after becoming more set in her own ways. “People think that after you’ve got a cancer diagnosis, you become this beautiful angel with a halo, and a super mum and do everything right”, she added. “But no, you make the same mistakes. I lose my temper, and I can hear myself saying things that I can’t believe I’m saying. “None of us know what we’re doing, really. We’re just doing our best. I know they do have lots of love. They are told that they’re loved every day.”
A new land use plan that will guide development in Missoula for the next two decades received strong support during a Missoula city-county planning board hearing this week, with all nine board members approving the years-long project. The Our Missoula 2045 Land Use and Code Reform plan most notably has a goal to add an additional 19,000 to 23,000 housing units to the Garden City over the next two decades . In total, the city expects 39,000 more residents by 2045. The plan now just needs final approval from city council, which is set for Dec. 9. The plan also simplifies how the city views zoning, allowing city planners to streamline and diversify new development, according to Ben Brewer, a long-range planning supervisor with the city. The full plan, with a new city zoning map, is available at engagemissoula.com . "An outcome, we hope, is accessible, walkable vibrant streets and neighborhoods that provide diverse, attainable housing options throughout the community," Brewer said at the planning board meeting. The land use plan also incorporates several rule changes brought forth by the Montana state Legislature during the last session. One change requires cities to allow duplexes in all urban residential place type areas. The plan updates and clarifies city code as well. Brewer said public comment so far has shown a general interest to increase mixed-use opportunities within the city and also coordinate the new land use plan with county zoning plans. "In our residential areas, this plan represents an increase in residential capacity and housing diversity in almost every portion of the planning area," Brewer said. "We heard from the community that every neighborhood should share the change that is occurring." Laval Means, the city's community planning manager, noted that older city master plans would be repealed if the new land use plan is approved. The 2023 Midtown Master Plan, 2020 Sxwtpqyen Master Plan and 2019 Missoula Downtown Master Plan would be incorporated because they are more recent, he added. Most public commenters on Tuesday night supported the plan. Some residents raised concerns about development in East Missoula, which is not within city limits, although the city has previously eyed annexing the community. David Gray, a longtime Missoula architect, said the plan could use some tweaks to prioritize larger multifamily developments and allow for workforce housing in light industrial areas. "Larger, multifamily buildings are a far more cost-effective way to provide more affordable housing for everyday Missoulians," Gray said at the meeting. Planning board members largely approved of the new plan, but expressed the need for Missoula's city council to take more public comment into consideration. "I am really hopeful with this plan," Vice Chair Shane Morrissey said. "It is a really good step in the right direction, and I don't believe it is all the way there, but that's what this iterative process is all about." The council is set to make a final decision on the plan on Dec. 9 at 6 p.m. in city council chambers at 140 W. Pine Street. Griffen Smith is the local government reporter for the Missoulian. Get Government & Politics updates in your inbox! Stay up-to-date on the latest in local and national government and political topics with our newsletter. City/County Government Reporter {{description}} Email notifications are only sent once a day, and only if there are new matching items.Zelenskiy Blasts Fico In Energy Feud As Fighting Intensifies On Battlefield
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Stocks likely to keep up momentum amid expected rate cut KARACHI: Stocks increased sharply and remained the best-performing market based on USD returns during the outgoing week. The market is expected to continue the bullish momentum on the anticipated rate cut by the central bank next week. “We anticipate the market to continue with the positive momentum in the coming week, on the anticipation of a rate cut in the upcoming monetary policy committee meeting on December 16,” said brokerage firm Arif Habib Ltd. The market surged to a record high of 109,478 points, driven by improved inflation data, which dropped to 4.9 per cent (the lowest level since April 18). Saudi Arabia has also extended a $3 billion deposit with Pakistan for another year to support its economy, providing further momentum to the index. The market closed at 109,054 points, up 7,697 points and 7.59 per cent week-on-week (the world’s best-performing market based on USD returns). Moreover, the KSE-100 witnessed the highest-ever average volumes of 1,683 million shares (up 72 per cent WoW) and an average traded value of $198 million (up 49 per cent WoW). Foreigner selling continued this week (Dec 2–Dec 5), clocking in at $12.2 million compared to a net sell of $15.1 million last week. Major selling was witnessed in banks ($3.9 million) followed by fertiliser ($2.5 million). On the local front, buying was reported by funds ($39.6 million) followed by banks/DFIs ($8 million). Sector-wise positive contributions came from fertiliser (1,748 points), commercial banks (1,434 points), oil & gas exploration companies (1,148 points), cement (716 points) and power generation (405 points). Scrip-wise positive contributors were MARI (866 points), Engro (626 points), UBL (570 points), FFC (506 points) and MEBL (402 points). The sector that contributed negatively was leasing companies (0.01 points). Scrip-wise negative contributions came from HBL (131 points), JVDC (20 points), EFUG (19 points), OGDC (10 points), and AKBL (3 points). Analyst Nabeel Haroon at Topline Securities said the gain can be attributed to persistent buying by mutual funds on account of more allocation towards equity on the backdrop of declining yields on fixed-income securities, as inflation numbers continue to decline. Muhammad Waqas Ghani, deputy head at JS Research, said the week started with inflation data for Nov-24 which clocked in at 4.9 per cent YoY, marking the lowest CPI reading in 6.5 years. This decline is mainly due to the base effect from last year’s elevated inflation. Although headline inflation increased 50bps MoM, the overall YoY trend remains on a downward path. The average inflation rate for 5MFY25 is 7.9 per cent, a notable reduction compared to the 28.6 per cent average recorded in 5MFY24. Moreover, trade data released by the PBS revealed a 7.4 per cent YoY reduction in the trade deficit during the first five months of the current fiscal year, which stood at $8.65 billion, compared to $9.3 billion during the same period last year. Banking sector stocks gained momentum as banks continued to work towards meeting ADR targets, the latest data showed a sharp rise in the banking sector’s gross ADR as it reached a 17-month high at 47 per cent. In other news, for the fortnight, the government raised the price of petrol and diesel by Rs3.7 per litre and Rs3.3 per litre, respectively. Also, Saudi Arabia agreed to extend the $3 billion deposit in the SBP for another year, offering vital support to Pakistan’s forex reserves. Pakistan has converted seven out of the 37 MoUs signed with Saudi Arabia into formal contracts worth $560 million. According to the latest data, SBP reserves rose $620 million after ADB inflow, reaching $12 billion, the highest in 2.7 years. During the week, the PSX held an auction of Ijarah Sukuk bonds in which the government raised Rs353 billion against a target of Rs500 billion.Key deals this week: Shell-Equinor U.K. combination, Hershey, TotalEnergies, GE HealthCare and more