“In August 2022, Biden announced a blanket forgiveness of up to $20,000 in federal student loans for single borrowers earning less than $125,000 or couples earning less than $250,000. This plan—estimated to cost over $500 billion—was swiftly blocked in federal court, and the Supreme Court later struck it down as an unconstitutional exercise of the spending power.
While Biden couldn’t quite bring home the grand prize, he managed to cancel billions in student loans through now-blocked changes to the federal student loan program. Unsurprisingly, these changes also led to a big increase in the estimated 2024 federal deficit—a $145 billion hike.
The seminal achievement of Biden’s student loan overhaul was the introduction of the Saving on a Valuable Education (SAVE) plan, an income-driven repayment plan that dramatically reduces most borrowers’ monthly payments. Under the previous version of the program, borrowers were directed to pay 10 percent of their discretionary income (calculated as earnings above 150 percent of the federal poverty rate) for 20 years before receiving forgiveness. Borrowers will now pay just 5 percent of their discretionary income (now estimated as earnings more than 225 percent of the federal poverty level), with some receiving forgiveness after only 10 years. While the program was estimated to cost taxpayers nearly $500 billion over the next decade, federal courts fully blocked the program by July 2024.
If somehow allowed to go forward, the SAVE plan would be likely to incentivize students to take on much larger student loan balances, because the program requires borrowers to pay so little back before forgiveness. Ultimately, it’s difficult to see how this extra spending doesn’t encourage colleges to hike tuition.”
“Son offered a similar commitment after Trump’s first presidential win in 2016, when Son pledged a $50 billion investment and the creation of 50,000 new jobs. But while SoftBank does seem to have followed through on its investment promise, it’s “unclear” that the jobs followed — a reminder that splashy announcements like Son’s latest should not necessarily be taken as iron-clad guarantees.
While CNN’s Allison Morrow and David Goldman found that SoftBank did invest roughly $75 billion in US companies after its first pledge, it “never made clear how many of those jobs it actually created — and how many were actually a result of a new investment,” they write.
Vox reached out to SoftBank for clarity on its previous investments and how many jobs they generated but did not receive a response prior to publication.
Other corporate investments that Trump touted in his first term had underwhelming returns as well. In the case of Foxconn, a Taiwanese manufacturer, for example, the company promised a $10 billion Wisconsin plant and 13,000 jobs, and fell short on both counts. An updated version of the deal eventually saw Foxconn reduce that figure to roughly 1,500 jobs.
According to a 2019 ProPublica investigation, multiple other corporations, including Alibaba and Broadcom, were also cited by the Trump administration as sources for new jobs, though many of these gains never materialized.
Such pledges, though, still have value to a president who once vowed to run the country like a business, regardless of their eventual success. They provide a good headline for Trump, and a chance to burnish his self-created image as a “dealmaker.”
Now that Trump is returning to power, business leaders are once more looking for ways to build influence with the administration, often with the goal of shaping favorable regulatory outcomes or government contracts. The SoftBank announcement suggests touting prominent job commitments, including those the company might not be able to deliver on, will continue to be one of those avenues.”
“Trump’s 11th-hour decision to get involved in negotiations, weighing in via social media (and seemingly without coordinating with congressional allies), is reminiscent of his first-term approach to Capitol Hill, when he regularly blew up funding talks and directly caused the longest government shutdown in US history.”
“According to preliminary data from the Centers for Disease Control and Prevention (CDC), the death toll from illegal drugs during the year ending in April 2024 was 10 percent lower than the number during the previous year. This would be the largest such drop ever recorded—a striking contrast to the general trend during the previous two decades, when the number of drug deaths rose nearly every year.”
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“Does this apparent turnaround show the war on drugs is finally succeeding? Dasgupta et al. deemed it “unlikely” that antidrug operations along the U.S.-Mexico border had helped reduce overdoses. They noted that recent border seizures had mainly involved marijuana and methamphetamine rather than illicit fentanyl, the primary culprit in overdoses, and that retail drug prices have been falling in recent years—the opposite of what you would expect if interdiction were effective.
While replacing street drugs with methadone or buprenorphine reduces overdose risk, the researchers said, it did not look like expanded access to such “medication-assisted treatment” could account for the recent drop in deaths. But they thought it was “plausible” that broader distribution of the opioid antagonist naloxone (commonly known as the brand Narcan), which quickly reverses fentanyl and heroin overdoses, had played a role.
In contrast with naloxone programs, which help reduce drug-related harm, prohibition magnifies it by birthing a black market in which quality and purity are highly variable and unpredictable. Efforts to enforce prohibition increase those hazards. The crackdown on pain pills, for example, pushed nonmedical users toward black market substitutes, replacing legally produced, reliably dosed pharmaceuticals with iffy street drugs, which became even iffier thanks to the prohibition-driven proliferation of illicit fentanyl.
That crackdown succeeded in reducing opioid prescriptions, which fell by more than half from 2010 to 2022. Meanwhile, the opioid-related death rate more than tripled, while the annual number of opioid-related deaths nearly quadrupled.
Drug warriors, in short, should not get credit for reducing overdoses. But they do deserve a large share of the blame for creating a situation in which an annual toll of more than 100,000 deaths looks like an improvement.”
“In an interview with Rep. Nancy Mace (R–S.C.) on ABC’s This Week last March, host George Stephanopoulos repeatedly and inaccurately asserted that Donald Trump, now the president-elect, had been “found liable for rape.” A week later, Trump sued ABC and Stephanopoulos for defamation in the U.S. District Court for the Southern District of Florida, noting that a jury had deemed Trump civilly liable for “sexual abuse,” not “rape.” Over the weekend, ABC News announced that it had reached a $15 million settlement with Trump in the form of a contribution to Trump’s presidential library. ABC also agreed to cover $1 million in Trump’s legal expenses.
The settlement is highly unusual in the annals of Trump’s many lawsuits against news outlets, which typically feature claims with a much weaker legal and empirical basis. Some Trump critics explicitly or implicitly faulted ABC for folding, saying its decision is apt to have a chilling impact on journalism. But any such threat can be mitigated by applying normal standards of journalistic care—standards that Stephanopoulos conspicuously failed to uphold in this case.
In his interview with Mace, Stephanopoulos was talking about two cases involving the journalist E. Jean Carroll’s allegation that Trump sexually assaulted her in a department store dressing room in the mid-1990s. In one case, a New York jury last year concluded that Carroll had proven, by a preponderance of the evidence, that Trump had “sexually abused” her. The jurors also agreed that Trump had defamed Carroll by calling her a liar and awarded her $5 million in damages. But they expressly concluded that Carroll had failed to prove Trump had “raped” her.”
“During Trump’s first term, sanctuary cities refused to allow local law enforcement to share information with federal immigration agents or hand over immigrants in their custody. This time around, many are planning to do the same, even if doing so draws them into a fight with the second Trump administration.
Trump’s so-called border czar Tom Homan, a fellow at the conservative Heritage Foundation and a named contributor to its Project 2025 manifesto, has indicated the incoming administration plans to make sanctuary jurisdictions targets for “mass deportations.” Homan said recently he hopes that local law enforcement will cooperate with requests from US Immigration and Customs Enforcement (ICE) to hand over undocumented immigrants already in their custody, especially when they pose a public safety threat.
“What mayor or governor doesn’t want public safety threats out of their communities?” he told the Center Square. “Their No. 1 responsibility is to protect their communities. That’s exactly what we are going to do.”
Most Democratic leaders, however, have made it clear that they will not accept federal government overreach on deportations and that they are preparing to challenge Trump’s immigration policies in court.
“We’re not looking for a fight from the Trump administration, but if he attacks our progress, we’ll fight back,” California Attorney General Rob Bonta told Vox. “Immigrants are such a critical part of who we are … who we will be.””
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“In his first term, Trump’s crackdown on sanctuary jurisdictions took two forms: attempting to withhold federal funding from them and challenging their policies in court.”
“In a newly-released research paper, Evan Cunningham, a Ph.D candidate in Economics at the University of Minnesota, studied the effects of Amazon’s continued spread across the country—growing from just a handful of warehouses, or “fulfillment centers,” in 2010, to more than 1,300 today in the U.S. alone. On balance, it turns out that Amazon warehouses provide a net positive to local economies.
“I find Amazon’s entry in a metro [area] increases the total employment rate by 1.0 percentage points and average wages by 0.7 percent,” Cunningham writes. “The composition of employment shifts from retail and wholesale trade to warehousing and tradeable services, primarily driven by younger workers. Employment gains are concentrated among non-college workers.”
There are also some drawbacks, though it largely depends on your perspective. “Amazon’s entry increases rents by 1.1 percent and the cost of utilities by 6.0 percent,” while “average home values increase by 5.6 percent.” Higher rents and utility rates may not sound particularly appealing, but Cunningham notes that this is a result of higher housing demand: “The average worker is willing to pay $329 per year to live in a large U.S. city after Amazon’s entry, relative to a counterfactual U.S. economy where Amazon did not expand. This increase was primarily driven by rising home values, implying the benefits accrued to home owners.””
“The attacker, Shamsud-Din Bahar Jabbar, a 42-year-old Army veteran from Texas, rammed a truck into Bourbon Street before he was killed in a shootout with police. Jabbar was flying an ISIS flag from his vehicle and posted videos on Facebook shortly before the attack, pledging support to the group.
In a briefing on Thursday, FBI Deputy Assistant Director Christopher Raia described Jabbar as “100 percent inspired by ISIS.” Raia said that Jabbar, who had also planted two explosive devices on Bourbon Street that never went off, claimed he had joined ISIS before last summer. In his videos, Jabbar said he had originally planned to attack his relatives and friends — he had recently gone through a divorce — but worried that media coverage would not focus on what he called the “war between the believers and disbelievers.” Authorities are also investigating whether there is any link between the attack and a truck bombing that took place outside the Trump Hotel in Las Vegas on the same day, though for now there does not appear to be.
Using trucks and vans to ram into crowds has been a staple of deadly ISIS-linked attacks for years, from Nice, France, to Barcelona, to Berlin, to Stockholm. New Orleans is likely the biggest ISIS-inspired attack on US soil since 2016, when gunman Omar Mateen killed 49 people at Pulse, an LGBTQ+ nightclub in Orlando, Florida. The last significant ISIS-inspired attack in the US was in 2017, when Sayfullo Saipov drove a truck onto Manhattan’s West Side Highway, killing eight people.
ISIS-linked violence is still common around the world — there was a major suicide attack on a military base in Somalia just this week. The group’s Afghanistan-based affiliate, ISIS-K, has been particularly ambitious and global in its activities. It carried out an attack on Moscow’s Crocus theater that killed more than 130 people last March, as well as the suicide bombings that killed nearly 100 people in Tehran in January 2024. In August, authorities foiled a “quite advanced” ISIS-K plot to attack a Taylor Swift concert in Austria.
The fact that there hadn’t been any recent ISIS-inspired attacks in the US in recent years may not be from lack of trying. Aaron Y. Zelin, who researches and tracks jihadist groups at the Washington Institute for Near East Policy, notes that there were five arrests for ISIS-related plots in the US in 2024, including attempts to “target churches in Idaho, LGBTQ ‘establishments’ in Philadelphia, Jewish centers/synagogues in New York City, election day voting locations in Oklahoma City, and a Pride parade in Phoenix.” That’s up from zero arrests of this type in 2023.
The fact that one of the group’s self-acknowledged acolytes has now succeeded to deadly and tragic effect raises some tough questions about whether ISIS is primed for a resurgence, and what it actually means to be “ISIS-affiliated” today.”