Tesla CEO Elon Musk attends a cabinet meeting held by U.S. President Donald Trump at the White House in Washington, D.C., U.S., April 30, 2025.Evelyn Hockstein | ReutersElon Musk on Wednesday ramped up his attacks against the massive tax-cut bill that President Donald Trump is pushing Congress to pass, claiming it will condemn America to “debt slavery” and urging lawmakers to “KILL the BILL.””Call your Senator, Call your Congressman,” Musk wrote as he decried the budget package at length on his social media site X. “Bankrupting America is NOT ok!””A new spending bill should be drafted that doesn’t massively grow…
Author: usaeverydaylife
Students are seen on the campus of Columbia University on April 14, 2025, in New York City. Charly Triballeau | Afp | Getty ImagesThe U.S. Education Department said Wednesday that Columbia University has failed to meet the standards for accreditation because it “is in violation of federal antidiscrimination laws” for allegedly tolerating harassment of Jewish students on campus.The Education Department’s Office of Civil Rights notified the Middle States Commission on Higher Education, an accrediting institution that Columbia belongs to, of the alleged violation.The department noted that federal regulations, “accreditors are required to notify any member institution about a federal noncompliance finding…
The Health Care Select Sector SPDR Fund (XLV) was down over 5% in May, as the S & P 500 gained over 6%, which means that XLV underperformed the index by 11%. That’s a huge performance discrepancy. In fact, it was the worst relative monthly percent move vs. the SPX in XLV’s history, dating back to late 1998. As is clear from this long-term chart, the odds of this horribly bad relative weakness continuing at this same pace is low – at least for June. XLV itself now has approached two major long-term support levels after the recent downturn. The…
A store closing sign is displayed as customers shop during the last day of a store closing sale at a JOANN Fabric and Crafts location in a shopping mall following the company’s bankruptcy in Torrance, California on May 27, 2025. Patrick T. Fallon | Afp | Getty ImagesThe U.S. economy contracted over the past six weeks as hiring slowed and consumers and businesses worried about tariff-related price increases, according to a Federal Reserve report Wednesday.In its periodic “Beige Book” summary of conditions, the central bank noted that “economic activity has declined slightly since the previous report” released April 23.”All Districts…
Nathan Simington, Commissioner at the Federal Communications Commission (FCC) testifies during a House Energy and Commerce Committee Subcommittee hearing on March 31, 2022 in Washington, DC. The subcommittee held a hearing on oversight of the FCC. Kevin Dietsch | Getty ImagesRepublican Federal Communications Commission member Nathan Simington said Wednesday he plans to resign this week after more than four years in office.Simington was confirmed in December 2020 to the five-member FCC after he lead a regulatory effort during President Donald Trump’s first term in office seeking to rein in social media companies. Democratic FCC Commissioner Geoffrey Starks said last month…
The number of companies that buy bitcoin to hold on their balance sheet has grown in recent weeks, helping the leading cryptocurrency to hit its recent all-time high. But that newfound corporate support could soon become a downside risk to bitcoin’s price, according to Standard Chartered. While Strategy , formerly MicroStrategy, is the poster child for the bitcoin acquisition strategy by corporate treasuries, “imitators” have been gaining ground, Standard Chartered said in a report out Tuesday. Holdings by bitcoin treasuries have doubled in the last two months to just below 100,000 bitcoins, but their average purchase prices are far higher…
As more parts of the world face intense drought, new technologies are emerging to clean and reuse existing water. Investors are seeing potential for big profits.Water treatment is expensive. It uses a lot of energy and produces its own waste that gets disposed of at a hefty price. Capture6, a startup in Berkeley, California, says it’s developing a solution, and one with an added benefit to the environment. Capture6’s technology repurposes industrial and water treatment waste, generating clean water and capturing carbon dioxide from the atmosphere.”That combination of water treatment, brine management, and carbon capture all at once is part…
Republican Sen. Ron Johnson on Wednesday blasted President Donald Trump’s “one big, beautiful bill” as “immoral” and “grotesque,” and reiterated that he will vote against it unless his GOP colleagues make major changes.”This is immoral, what us old farts doing to our young people,” Johnson said on CNBC’s “Squawk Box” after sounding alarms that the massive tax-and-spending-cut bill would add trillions of dollars to national deficits. “This is grotesque, what we’re doing,” Johnson said. “We need to own up to that. This is our moment.””I can’t accept the scenario, I can’t accept it, so I won’t vote for it, unless…
Mateusz Slodkowski | Lightrocket | Getty ImagesReddit is suing artificial intelligence startup Anthropic for what it’s calling a breach of contract and for engaging in “unlawful and unfair business acts” by using the social media company’s platform and data without authority.The lawsuit, filed on Wednesday, claims that Anthropic has been training its models on the personal data of Reddit users without obtaining their consent. Reddit alleges that it has been harmed by the unauthorized commercial use of its content. “For its part, despite what its marketing material says, Anthropic does not care about Reddit’s rules or users: it believes it…
President Donald Trump’s “big, beautiful bill” would add $2.4 trillion to the national debt over the next decade, the nonpartisan Congressional Budget Office estimated Wednesday.The bill passed by House Republicans last month would decrease federal revenues by $3.7 trillion and lower spending by $1.3 trillion, according to the CBO’s latest analysis.The budget package is expected to be tweaked further in the Senate, where it already faces headwinds from deficit hawks who have criticized the bill over concerns that it would lead to exploding deficits.Sen. Ron Johnson, R-Wis., said earlier Wednesday on CNBC’s “Squawk Box” that he would not vote for…
