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☆ Read the full transcript: President-elect Donald Trump interviewed by "Meet the Press" moderator Kristen Welker
▼ + stars: | 2024-12-08 | by ( ) www.nbcnews.com time to read: +111 min

PRESIDENT-ELECT DONALD TRUMP:No, no —KRISTEN WELKER:And there’s no —PRESIDENT-ELECT DONALD TRUMP:He can’t deny it. KRISTEN WELKER:We’re going to —PRESIDENT-ELECT DONALD TRUMP:For what they did —KRISTEN WELKER:Yeah —PRESIDENT-ELECT DONALD TRUMP:– honestly, they should go to jail. PRESIDENT-ELECT DONALD TRUMP:For what they did —KRISTEN WELKER:Everyone on the committee you think —PRESIDENT-ELECT DONALD TRUMP:I think everybody —KRISTEN WELKER:– should go to jail? PRESIDENT-ELECT DONALD TRUMP:We’re talking about --KRISTEN WELKER:You won’t touch Medicare --PRESIDENT-ELECT DONALD TRUMP:– theft --KRISTEN WELKER:– Social Security? KRISTEN WELKER:But you --PRESIDENT-ELECT DONALD TRUMP:I want to stop--KRISTEN WELKER:– have talked about --PRESIDENT-ELECT DONALD TRUMP:Let me tell you what --KRISTEN WELKER:– the other world leaders.

Persons: KRISTEN WELKER, Donald Trump, DONALD TRUMP, Grover Cleveland, we’re, we’ll, We’re, Pete, He’s, Pete Hegseth, “, you’re, ”, “ I’m, there’s, ” KRISTEN WELKER, Decker, AutoZone, it’s, Covid, Jim Jordan, they’re, would’ve, I’ll, Justin Trudeau, Xi, Biden, I’ve, Will, Jerome Powell, –, You’ve, who’s, we’ve, — KRISTEN WELKER, they’ve, should’ve, Tom Homan —, Tom Homan, you’ve, —, David Muir, David, Kristen, Obama, We’ll, They’re, I’m, John McCain, Collins, — it’s, “ That’s, could’ve, Obamacare, Kate Britt, Roe, Wade, Joe Biden, Kash Patel, Hillary Clinton, Bill Barr, Christopher Wray, Pam, Pam Bondi, Kash, that’s, Trey Gowdy, he’s, Joe Biden —, Jack Smith, Don’t, You’re, Trump, Russ Vought, Brendan Carr, Peter Navarro, John Ratcliffe, Pete Hoekstra, Monica Crowley, let’s, Let’s, Hunter, “ Sir, Everything’s, Fani Willis, Fani, It’s, Alvin Bragg, Letitia James, Liz Cheney, Adam Schiff, Anthony Fauci, Biden doesn’t, Cheney, Kamala, Thompson, Nancy Pelosi, Sir, Bennie Thompson, Ray Epps, “ You’re, who’ve, Tulsi Gabbard, Bashar al, Assad, Putin, Xi of, Kim Jong, Oz, Elon Musk, Jeff Bezos, Mary Barra, Mark Zuckerberg, Vivek Ramaswamy, “ You’ve, Israel wouldn’t, Ukraine would’ve, Russia’s, Ukraine’s, Biden should’ve, aren’t, Netanyahu, Jack, don’t, couldn’t, Joe, she’s, Ivanka, She’s, she’d, “ Don’t, “ don’t, Lara, Michael, George Stephanopoulos, MAGA, There’s, McLaughlin, Fabrizio, “ George Washington, Abraham Lincoln, hasn’t, It’s — KRISTEN WELKER, Russia wouldn’t Organizations: Press, Republicans, Trump, Harvard, Fox, America, United, United States ’, Walmart, Black, Biden, Whirlpool, Canada, Mar, White, Federal Reserve, Democrats, FBI, ”, Capitol, Department, “, Republican Party, Truth, Justice Department, DOJ, NBC, National Guard —, D.C, CNN, —, Defense Department, National Intelligence, RFK Jr, Autism, Elon, Electoral, Electoral College, Government, Social Security, Medicaid, Security, NATO, U.S ., Service, Exxon, Republican National Committee, Republican, ISIS Locations: America, they’re, Princeton, Fox, United States, China, Canada, Mexico, Ohio, South Korea, Canadian, California, Mississippi, Alabama, New York, Liberty, Venezuela, Colorado, San Diego , California, United States of America, Russia, Hague, Florida, Mar, —, Manhattan, Antifa, Portland, Portland . Seattle, Seattle . Seattle, . Minneapolis, Minneapolis, ”, Xi of China, Hunter, Ukraine, Europe, East, Gaza, Taiwan, U.S, TikTok, UN, It’s, Syria, Afghanistan

☆ Meet the Press – December 8, 2024
▼ + stars: | 2024-12-08 | by ( ) www.nbcnews.com time to read: +64 min

ANNOUNCER:From NBC News in Washington, the longest-running show in television history, this is a special edition of Meet the Press with Kristen Welker. KRISTEN WELKER:We’re going to —PRES.-ELECT DONALD TRUMP:For what they did –KRISTEN WELKER:Yeah –PRES.-ELECT DONALD TRUMP:– honestly, they should go to jail. PRES.-ELECT DONALD TRUMP:For what they did –KRISTEN WELKER:Everyone on the committee you think –PRES.-ELECT DONALD TRUMP:I think everybody –KRISTEN WELKER:– should go to jail? KRISTEN WELKER:But you --PRES.-ELECT DONALD TRUMP:I want to stop--KRISTEN WELKER:– have talked about --PRES.-ELECT DONALD TRUMP:Let me tell you what --KRISTEN WELKER:– the other world leaders. PRES.-ELECT DONALD TRUMP:We're talking about --KRISTEN WELKER:You won't touch Medicare --PRES.-ELECT DONALD TRUMP:– theft --KRISTEN WELKER:– Social Security?

Persons: KRISTEN WELKER, Donald Trump, PRES, DONALD TRUMP, Joe Biden, he’s, Carol Lee, “ Playbook ”, Eugene Daniels, Marc Short, Mike Pence, Jen Psaki, Kristen Welker, Grover Cleveland, Decker, AutoZone, it's, Covid, Justin Trudeau, Jerome Powell, Will, –, You've, Biden, who's, We're, they’re, we've, – KRISTEN WELKER, they've, should've, Tom Homan – PRES, Tom Homan, you've, I've, John McCain, Collins, would've, – it's, That's, could've, Obamacare, we're, Roe, Wade, I'm, Trump, Pete Hegseth, Kash Patel, he's, Hillary Clinton, Bill Barr, Christopher Wray, Pam, Pam Bondi, Kash, that's, Trey Gowdy, “, Joe Biden – PRES, We'll, Jack Smith, I’m, ”, Hunter, Everything's, Fani Willis, Fani, Adam Schiff, Anthony Fauci, Liz Cheney, Cheney, Bennie Thompson, We’re, – PRES, Assad, Putin, Israel wouldn't, Ukraine would've, Russia's, Ukraine's, Biden should've, Elon, Trump's, Vivek Ramaswamy, Elon Musk, You’re, couldn't, Joe, MAGA, There's, McLaughlin, Fabrizio, George Washington, Abraham Lincoln, It’s – KRISTEN WELKER, Politico Playbook, Carol, It's, CAROL LEE, Kristen, they'll, Eugene, EUGENE DANIELS, “ Bennie Thompson, Marc, Johnson's, Trump isn't, JEN PSAKI, Kamala would've, He's, she's, Jen, he'd, Vladimir Putin, Tulsi Gabbard Organizations: Capitol, NBC, Staff, White House Press, Press, Trump, Walmart, Black, Biden, Canada, Mar, Federal Reserve, Democrats, Department, FBI, Truth, Mr, NATO, SpaceX, Government, Social Security, Medicaid, Justice Department, White, Service, America, Politico, Republican, MARC, Republicans, QAnon, Dreamers, Democratic, Ukraine Locations: PRES, Washington, New York, United States, China, Canada, Mexico, Canadian, Liberty, Venezuela, Colorado, Colorado . PRES, America, United States of America, Hegseth, Russia, Hague, Florida, Mar, Damascus, Ukraine, NBCNews.com, Syria

In an interview with Kristen Welker, moderator of NBC News’ “Meet the Press,” Trump also said he’ll work to extend the tax cuts passed in his first term. Trump said he would fulfill a campaign promise to levy tariffs on imports from America’s biggest trading partners. “Well, I don’t know that you’ll see it at all,” Trump said, adding that health care experts are studying possible alternatives. Foreign policyLater Friday after the interview, Trump flew to Paris for a ceremony marking the reopening of the Notre Dame Cathedral, which had been devastated by a fire. On another foreign policy front, Trump expressed doubt that Syrian President Bashar al-Assad will be able to remain in power.

Persons: Donald Trump, Kristen Welker, ” Trump, Jan, ”, Trump’s, Trump, Welker, “, Elon Musk, Vivek Ramaswamy, “ I’m, ” He’s, Jeff Bezos, ’ Trump, Joe Biden, Adam Schiff, he’s, Biden, Pam Bondi, Kash Patel, Jack Smith, I’m, Jerome Powell, won’t, Ivanka Trump, Jared Kushner, “ I’ll, Melania Trump, flinch, ” It’s, we’ve, who’ve, “ We’re, Kamala Harris, Barack Obama, It’s, Obamacare, Emmanuel Macron, Volodymyr Zelenskyy, Zelenskyy, Bashar al, Assad, hasn’t, ‘, ” Welker, MAGA Organizations: U.S . Capitol, NBC, Press, Trump, Social Security, Amazon, The Washington Post, White, FBI, Justice Department, Truth, Federal, West Wing, Democrats, Notre Dame Cathedral, “, NATO Locations: Manhattan, California, U.S, Paris, “, Russia, Ukraine

☆ Gen Xers are stumbling in saving for retirement as they face caring for both kids and parents
▼ + stars: | 2024-12-08 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Many Gen Xers are caring for both their children and parents, and it's hurting retirement savings. 56% of Gen X investors were financially supporting either their parents or their kids, Nationwide found. The financial burden of supporting two groups has some Gen Xers doubting if they'll retire at all. The sandwiched generationBy some measures, Gen Xers are even more ill-prepared for retirement than baby boomers. "And so there's a large swath of Gen Xers who may be in a bit of a lurch."

Persons: they'll, Steve Mullen, Xers, —, X, Caregiving, Gen Xers, Carewell, Julie, Joe Wadford, Satayan Mahajan, Mahajan, Brandon Goldstein, they're, Goldstein Organizations: Nationwide, AARP, National Alliance, Prudential Financial, Bank of America, Gen, Social, Congressional, Office, Prudential, Pew Locations: caregiving, Ohio

☆ Elon Musk says DOGE's work will be public — legally, it has to be
▼ + stars: | 2024-12-08 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +7 min

Legal experts say it is obvious that Elon Musk's DOGE falls under a federal transparency law. Musk and Ramaswamy wrote in a Wall Street Journal op-ed that they would not officially join the Trump administration. Musk has already said that DOGE is looking for staffers willing to work 80-plus hours a week for no money. Musk wrote on X. Musk is already getting to work on DOGE.

Persons: Elon, Donald Trump, Musk, Vivek Ramaswamy, Ramaswamy, Jason Arnold, Obama, Bowles, Simpson, Erskine Bowles, Sen, Alan Simpson of, Trump, William Joseph McGinley, It's, Axios, Arnold, McGinley, Tricia McLaughlin, Clinton, Hillary Clinton's, George W, Bush's, Dick Cheney, Ken Lay, John Boehner, Boehner, Marjorie Taylor Greene, Joni Ernst, Mike Johnson Organizations: Elon Musk's, Federal Advisory, Department of Government, Securities and Exchange Commission, FAA, Congress, Trump, Virginia Commonwealth University, Republicans, Democrats, Democrat, White House, Republican, Social Security, Capitol Hill, Congressional Research Service, USA, Enron, Federal, Marjorie Taylor Greene of Georgia, Capitol Locations: Alan Simpson of Wyoming, Marjorie Taylor Greene of, Iowa

For more on the GOP agenda in the new Congress, watch CNN’s “Inside Politics Sunday with Manu Raju” this Sunday at 8 a.m. Typically, any senator can filibuster legislation, which would require 60 votes to overcome in a Senate where Republicans will hold a 53-47 majority. We know how to work with a small majority.”With the razor-thin majority, House Republicans may have an unusual amount of leverage in the typically Senate-driven process of crafting a filibuster-proof legislative package. A group of House GOP chairmen first sat down in May to plot this massive package under a potential Trump presidency, according to a person familiar with the discussions. But even some veteran Senate Republicans warned that passing two reconciliation bills will be a tall order.

Persons: Manu Raju ”, Donald Trump’s, John Thune, ”, Sen, John Cornyn, Trump’s, Trump, Jason Smith, Smith’s, shouldn’t, Smith, hasn’t, there’s, ” Smith, —, “, Mike Rounds, “ Sen, Thom Tillis, it’s, ” Sen, Cynthia Lummis, “ Jason Smith doesn’t, Andrew Harnik, Johnson, Mike Johnson, ” Johnson, Joe Biden’s, Joe Manchin, ” Lummis, Kevin Hern, ” Hern, ’, Donald Trump, Kevin Cramer, Obamacare —, GOP Sen, John Kennedy of, Andrew Clyde, ” Clyde, Susan Collins of, CNN’s Morgan Rimmer Organizations: GOP, CNN, Republicans, Capitol, Texas Republican, Trump, South, South Dakota Republican, Republican, Wyoming Republican, Senate, Budget, Social, Caucus, Republicans shouldn’t Locations: Washington, South Dakota, North Carolina, Wyoming, Washington , DC, North Dakota, John Kennedy of Louisiana, Susan Collins of Maine

☆ Meet America's real Golden Girls: Some unmarried older women without kids at home are doing great
▼ + stars: | 2024-12-07 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

Unmarried women in the US without kids at home have a median wealth surpassing unmarried men. In 2022, unmarried women without kids had a median household wealth of $87,200, while unmarried men had a typical net worth of $82,100. Big nest eggs, empty nestsSo why are unmarried women without kids doing better than their unmarried male counterparts? Older single women were more likely to own their homes and have fewer debts than younger single women, Fry said. Older single women had around $90,000 in their retirement accounts, compared to $125,000 for older single men.

Persons: Ruth Schick, She's, retracing Lewis, Ruth Schick Schick, aren't, Richard Fry, boomers, Xers, Fry, That's, Patricia Wahlen, Wahlen, he'd, I've, —, Schick, she's Organizations: Pew Research Center, Pew, Girls, Security, BI, Road Scholars Locations: Clark's, Antarctica, Scotland, Turkey, Wahlen

☆ Elon Musk says DOGE can 'gut the federal government' with a recent Supreme Court ruling. Some lawyers disagree.
▼ + stars: | 2024-12-07 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +9 min

Elon Musk and Vivek Ramaswamy said a SCOTUS ruling on federal regulations will help them cut spending through DOGE. AdvertisementThe Supreme Court might not help Elon Musk and Vivek Ramaswamy's spending cut goals as much as they might think. Holes in Musk and Ramaswamy's argumentThe Supreme Court overturned the Chevron doctrine in June 2024 in a ruling on the case Loper Bright Enterprises v. Raimondo. The Biden administration went through that process to craft its second student-loan forgiveness plan after the Supreme Court struck down the first one. It's not clear that the Supreme Court had that in mind when it overruled Chevron."

Persons: Elon Musk, Vivek Ramaswamy, SCOTUS, Vivek Ramaswamy's, Donald Trump, Ramaswamy, Musk, that's, Gillian Metzger, Metzger, Raimondo, Nicholas Bagley, Bagley, Bright, Trump, Biden, Cary Coglianese, Coglianese, Jared Moskowitz, Moskowitz, Ro Khanna, Sen, Bernie Sanders, GOP Sen, Joni Ernst, Marsha Blackburn, —, We've, You've Organizations: of Government, GOP, Chevron, Columbia Law School, Trump, Bright Enterprises, National Marine Fisheries, University of Michigan, Street Journal, APA, University of Pennsylvania, Ramaswamy, Republican, Democratic, Department of Homeland Security, Department of Defense, Treasury Department, Department of Health, Human Services, Social Security Administration, Treasury Department . National, Capitol Locations: Chevron, Congress

☆ What will be the signature achievement of Trump 2.0?
▼ + stars: | 2024-12-07 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +12 min

What will be the signature legislative achievement of Trump 2.0? They could basically plus up how much they’re spending on those priorities, and they could move some money around. That could still be really significant for the Trump administration, because Trump talked about the border so much and because Republicans campaigned on that issue. I could very well see that being a major signature piece of legislation for Trump that would fit with his brand. They’re going to be cautious about where they pick their moments.

Persons: Lauren Fox, doesn’t, Mike Johnson, Johnson, that’s, Donald Trump’s, Will Trump, –, It’s, Trump, you’ve, Kevin McCarthy, John Thune, They’ve, Barack Obama, Joe Biden, JD Vance, you’re, Will, ’, it’s, Republicans –, quorums, I’ve Organizations: CNN, White, Trump, Republicans, Capitol, FOX, House Republicans, Senate, Social Security, Democratic, Security, Congressional, Office, Senate Finance, Democrats won’t Locations: Washington, Thune, Trump’s

The Consumer Financial Protection Bureau on Friday charged Comerica Bank with abusing and neglecting vulnerable customers who receive federal benefits. Direct Express card users are primarily elderly and disabled Social Security beneficiaries who otherwise lack access to traditional forms of banking. As a result, Direct Express cardholders were not able to dispute charges and bookkeeping errors. Through the vendors, Comerica forced Direct Express cardholders to pay ATM fees to access their government benefits in situations where the cardholders were entitled to free withdrawals. “Today, the CFPB doubled down by filing a countersuit against Comerica Bank,” a Comerica spokesperson said Friday.

Persons: ”, Rohit Chopra, who’d, cardholders, Comerica, CFPB, “, Donald Trump, Elon Musk, Jesse Van Tol Organizations: Consumer Financial, Comerica Bank, Social Security, Comerica, U.S . Department of Treasury, Direct, “ Comerica, Comerica ”, ”, U.S . Treasury Department, National Community Reinvestment Coalition, NBC News, Federal Reserve Locations: Texas, U.S

☆ There’s a rude awakening in store for the DOGE bros
▼ + stars: | 2024-12-06 | by ( Allison Morrow | Matt Egan | ) edition.cnn.com time to read: +6 min

And after a couple of years of work, the Grace Commission’s 150-plus members persuaded Congress to enact exactly zero of its recommendations. But so far, neither Musk nor Ramaswamy seem to grasp the complexities of the $6.8 trillion US budget. Roughly 60% of the federal government’s budget comprises what’s known as mandatory spending — primarily Medicare, Medicaid and Social Security. There’s a way, though it’s not always legal, for the president to defy Congress and just refuse to spend money lawmakers have allocated. The DOGE bros are also on board, writing in their op-ed that they believe the Supreme Court would likely side with Trump.

Persons: CNN Business ’, Ronald Reagan’s Grace, Donald Trump’s, Elon Musk, Vivek Ramaswamy, Grace, Grace Commission’s, ” Douglas Holtz, Eakin, Elon, Vivek, Ramaswamy, ”, Holtz, John McCain’s, George W, Bush, “, Trump, ” Isaac Boltansky, Mark Zandi, Zandi, Musk, ” Zandi, it’s, Bobby Kogan, ” Trump, Nixon, bros, It’s, Newt Gingrich, ” Kogan Organizations: CNN Business, New York CNN, Ronald Reagan’s Grace Commission, Donald Trump’s “ Department, Government, Grace Commission, American Action, CNN, Social Security, Analytics, Congress, Center for American Progress, Trump, Washington Post, White Locations: New York, Sam’s, ”

☆ CFPB sues Comerica Bank, alleging it failed to administer federal benefits program
▼ + stars: | 2024-12-06 | by ( Kristian Burt | In | ) www.cnbc.com time to read: +1 min

The Consumer Financial Protection Bureau filed a complaint Friday against Comerica Bank , accusing the regional bank of failing to administer a federal benefits program that uses prepaid debit cards. The lawsuit claims Comerica Bank "intentionally terminated" more than 24 million customer service calls, charged more than 1 million cardholders ATM fees they didn't owe and mishandled fraud complaints while providing federal benefits through the Direct Express prepaid debit card program. The Direct Express program is a prepaid card that beneficiaries of Social Security and other federal programs can use to pay for expenses including groceries and gas. The Office of the Comptroller of the Currency also fined the bank $125 million in a separate order. Representatives from Comerica Bank did not immediately respond to a request for comment.

Persons: Rohit Chopra Organizations: Consumer Financial, Comerica Bank, Direct, Comerica, Social Security, Department of, Treasury, Bank of America, Currency

☆ How a narrowly divided nation could frustrate Trump’s vast ambitions
▼ + stars: | 2024-12-06 | by ( Stephen Collinson | ) edition.cnn.com time to read: +11 min

But the Louisiana Republican on Thursday put his finger on one of President-elect Donald Trump’s greatest challenges. He delivered the smallest House majority since the Great Depression. Trump will need to manage Republican power more effectively in Washington than he did in his first term. The 2016 election gave Republicans a House majority of nearly 50 seats. In a House majority limited to a handful of seats, every lawmaker becomes a kingmaker.

Persons: CNN — Sen, John, Donald Trump’s, Kennedy, Elon Musk, Vivek Ramaswamy, ” Kennedy, CNN’s Lauren Fox, Trump, won’t, –, Kamala Harris, he’s, he’ll, can’t, Donald Trump, Brandon Bell, Republicans balk, Mike Johnson, ” Johnson, Hegseth’s, Johnson, Tim Burchett, Kasie Hunt, Republican Sen, John Thune of, Pete Hegseth, Musk, ” Musk, Donald Trump's, Jose Luis Magana, isn’t, Ramaswamy, Republicans —, Maine Sen, Susan Collins, Collins, “, ”, Richard McCormick, Stephanie Bice, Obama, Sen, CNN’s Fox Organizations: CNN, Louisiana Republican, of Government Efficiency, GOP, SpaceX, Trump, Republicans, Republican, America, Tennessee, Democratic, Government, Capitol, White, Social Security, Medicare, ”, Fox Business, Oklahoma Republican, Security, Democrats Locations: Louisiana, Washington, Brownsville , Texas, New York, John Thune of South Dakota, Washington ,, Maine, Oklahoma, Clinton, ”

☆ Retirees are less satisfied—make 2 key moves now to be happy later, says researcher: 'It all comes back to preparation'
▼ + stars: | 2024-12-06 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

Retirees report lower levels of well-being than they did four years ago, according to a recent survey from the Employee Benefits Research Institute. As rampant inflation has eaten into retirees' spending power, for instance, a much larger portion of them, 68%, report having outstanding credit card debt. But in many cases, retirees are realizing that they didn't plan as well as they could have. Enroll in your workplace retirement account and stay thereHigh standard of living and satisfaction in retirement are both highly correlated with participation in workplace retirement plans, EBRI's data shows. None of which is to say that changing jobs will hurt your chances at a happy retirement.

Persons: program's, Bridget Bearden, you've, Jack VanDerhei, Bearden Organizations: Research, Social Security, Morningstar, CNBC

☆ Here's what to know before taking your first required minimum distribution
▼ + stars: | 2024-12-06 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

Grace Cary | Moment | Getty ImagesAfter decades of building your nest egg, you will eventually have to start taking required minimum distributions, or RMDs, from pretax retirement accounts. The first deadline is April 1 of the year after you turn 73, and Dec. 31 for future withdrawals. Pre-tax retirement withdrawals incur regular income taxes. Two required withdrawals in one yearIf you wait until April 1 after turning 73 to take your first RMD, you'll still owe the second one by Dec. 31. That can trigger unexpected tax consequences, according to CFP Abrin Berkemeyer, a senior financial advisor with Goodman Financial in Houston.

Persons: Grace Cary, Jim Guarino, Baker Newman Noyes, you'll, IRMAA, Berkemeyer Organizations: CFP Abrin, Goodman Financial, Medicare Locations: Woburn , Massachusetts, Houston

☆ DOGE's Musk, Ramaswamy want Congress to pass huge spending cuts. That's a tough sell
▼ + stars: | 2024-12-06 | by ( Emily Wilkins | ) www.cnbc.com time to read: +6 min

watch nowWASHINGTON, D.C. — Entrepreneurs Elon Musk and Vivek Ramaswamy have an ambitious agenda to cut federal spending with the help of their outside advisory council, the Department of Government Efficiency (DOGE). Crisscrossing Capitol Hill together on a marathon day of meetings with lawmakers, Musk and Ramaswamy got warm welcomes from Republicans. Anna Moneymaker | Getty ImagesBut there was also an elephant in the rooms they visited: An unspoken understanding that Musk's stated goal of slashing federal spending by $2 trillion is already D.O.A. "Those are the kinds of things that we're also going to be looking at," Scalise told reporters after his meeting with Musk and Ramaswamy. Benoit Tessier | ReutersOnly when Republican President-elect Donald Trump takes office in January, and Senate Republicans take control of their chamber, can plans really begin to move ahead.

Persons: Elon Musk, Vivek Ramaswamy, Ramaswamy, Kat Cammack, Anna Moneymaker, Musk's, Steve Womack, Womack, M1A2 Abrams, Sean Gallup, Steve Scalise, we're, Scalise, Mike Johnson, Donald Trump's, Benoit Tessier, Donald Trump, Sen, John Cornyn, Susan Collins, we've, Collins, Joni Ernst, telework, Tom Williams Organizations: D.C, —, Department of Government Efficiency, Republicans, Government Efficiency, U.S, Capitol, Government, Congress, Social, FEMA, NASA, Customs, Border Patrol, CNBC, M1A2, U.S . Army, British Amphibious Engineer Battalion, NATO, Getty, Social Security, Ramaswamy, Department of Government, Reuters, Republican, Caucus, CQ, Inc Locations: WASHINGTON, Washington , DC, Gniew, Poland, La, U.S, Washington , U.S, Texas, Maine, Iowa

WASHINGTON — Tech billionaire Elon Musk and conservative activist Vivek Ramaswamy on Thursday began in-person discussions with congressional Republicans about ways they could slash federal spending and regulations once President-elect Donald Trump takes office. Musk and Ramaswamy traveled to Capitol Hill for a series of meetings with House and Senate members. Musk has repeatedly faced questions about potential conflicts of interest in advising on the federal budget. Musk and Ramaswamy are seeking individuals with business backgrounds with an interest in “gutting bureaucracy” to fill those roles. Musk has shown a willingness to consider cuts to some of the federal government’s most popular programs including Social Security.

Persons: Elon Musk, Vivek Ramaswamy, Donald Trump, Trump, Ramaswamy, Mike Johnson, Musk, Sen, Thom Tillis, ” Tillis, Tillis, I’d, ”, “, Mike Lee, John Thune, Eric Schmitt, Shelley Moore Capito, Elon, Vivek, Ro Khanna, Harry Truman, Brendan Boyle, … Trump, ” Boyle, Obama, DOGE, Zach Mallove, Patty Murray, Mallove Organizations: WASHINGTON — Tech, Ramaswamy, Capitol, Department of Government Efficiency, Social Security, SpaceX, Trump White House, Trump, PAC, America PAC, Federal, Commission, Republican, Defense Department, NASA, Rivian, Peterson Foundation, Capitol Hill, Management, NBC News, Republicans, Truman, GOP, “ Republicans, ”, “ Locations: Trump, Pennsylvania, U.S, Utah

☆ Baby boomers were hit hardest by inflation last year. Here's what they buy compared to younger Americans.
▼ + stars: | 2024-12-05 | by ( Juliana Kaplan | Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

AdvertisementBaby boomers were hit the hardest by inflation in 2023, driven by rising healthcare costs. Healthcare costs outpaced overall inflation, and they make up a greater share of boomers' budgets compared to younger Americans. The analysis found that mounting healthcare costs, which have outpaced broader inflation, particularly weighed on baby boomers, who are aged 60 to 78. Simultaneously, older Americans did not spend as much on things like gas, where costs deflated. Over 2,000 older Americans told BI their biggest regrets over the last few months in a voluntary, informal survey.

Persons: Gen X, Wells, boomers, Gen, Gallup, they're, they've Organizations: Bureau of Labor Statistics, BLS, BI, Social Security Locations: Wells Fargo

☆ What are Social Security's trust funds? New debate emerges on program's financing
▼ + stars: | 2024-12-05 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

Richard Stephen | Istock | Getty ImagesWhat are Social Security's trust funds? Social Security's trust funds prompt headlines each year when Social Security's trustees release their annual report on the program's financial outlook. Lee is not the first politician to question Social Security's trust fund structure. In his post on X, Lee said: "the government routinely raids" Social Security's trust fund. During a July 2023 Senate hearing on protecting Social Security, Sen. Ron Johnson, R-Wisconsin, describes the program's trust funds as a "four-drawer file."

Persons: Richard Stephen, Istock, Blahous, George W, Bush, Bonds, Susan Chapman, Luke Frazza, —, Lee, Sen, Ron Johnson, Johnson, Stephen Goss, actuary, Andrew Biggs, Biggs, Nancy Altman, Altman, Jason Fichtner Organizations: Social, Research Service, Social Security Administration, Treasury, U.S ., Federal Investments, of Public, Afp, Getty, Social Security, American Enterprise Institute, Vanguard, Congressional Research Service, Center, U.S Locations: Parkersburg , West Virginia, Wisconsin, China

☆ European markets head for negative open after France's government loses confidence vote
▼ + stars: | 2024-12-05 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

European stocks are set to open in negative territory Thursday, with French markets in focus after Prime Minister Michel Barnier's government was toppled in a vote of no confidence Wednesday. A majority of lawmakers from both the left-wing New Popular Front alliance and the far-right National Rally supported a no-confidence motion in the country's lower house yesterday evening. The move angered opposition parties and, last night, deputies on the left and right ousted the government. Barnier is expected to resign Thursday, but he could remain in charge of a caretaker government while President Emmanuel Macron searches for a replacement. Elsewhere overnight, Asia-Pacific markets traded mixed after Wall Street stock benchmarks notched record highs yesterday.

Persons: Michel Barnier's, Barnier, Emmanuel Macron Organizations: Front, Wall Locations: Asia, Pacific, U.S, Europe

☆ The classic retirement model is dead, says self-made millionaire who retired at 34: 'You just have to count on yourself'
▼ + stars: | 2024-12-05 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

In 2012, the now 47-year-old self-made millionaire was earning enough in passive and portfolio income to retire from his 9-to-5 at age 34. Leg 1: Tax-advantaged savingsA vestige from the traditional model, a tax-advantaged retirement account, such as a 401(k), is still an essential tool for retirement savers, Dogen says. That could contribute to an early retirement, if that's your goal, or it could lift some of the burden off your tax-advantaged accounts for providing retirement income. If possible, Dogen says to contribute even more to these accounts than your maximum retirement contributions — an admittedly tall ask for many employees. But if you can, aim for this portion of your portfolio to double or triple your retirement accounts in value by the time you're 60 years old, he says.

Persons: Uncle Sam, Sam Dogen, Dogen, Roth Organizations: Social Security, of Labor Statistics, Roth IRA

Investing in the stock market is crucial for maintaining spending power and hedging against inflation. The US stock market continues to soar through the final quarter of the year, with major indexes like the Dow Jones, Nasdaq, and S&P 500 hitting record closes on Wednesday. Here are four signs you're not investing enough in the stock market, according to financial advisors. The market's daily fluctuations can look intimidating, especially if you're new to stock investing, but not all volatility is bad. Moreover, long-term investing is generally less risky and provides opportunities for recovery from market downturns.

Persons: —, Dow Jones, Jerome Powell's, Tom Graff, Corbin Blackwell, Blackwell, doesn't, isn't, Graff Organizations: Service, Nasdaq, Savings, Social Security

☆ DOGE is generating major GOP buzz on Capitol Hill — but details remain scarce
▼ + stars: | 2024-12-05 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

AdvertisementElon Musk and Vivek Ramaswamy, the co-leads of DOGE, visited Capitol Hill on Thursday. Musk and Ramaswamy had spent their mornings meeting separately with an array of GOP senators to discuss government efficiency. With Johnson in tow, they were now meeting with members of the House and Senate's newly formed DOGE caucus in the Capitol basement. Johnson speaking to reporters before Musk and Ramaswamy meet with DOGE caucus members. Sen. Joni Ernst of Iowa, the chair of the Senate DOGE caucus, has already identified $2 trillion in cuts that she'd like to see.

Persons: Elon Musk, Vivek Ramaswamy, DOGE, Donald Trump's, Mike Johnson, Ramaswamy, Johnson, Tom Suozzi, Republican Sen, Thom Tillis, Tillis, Anna Moneymaker, Sen, Joni Ernst of Iowa, David Schweikert, he's, Eric Schmitt of Missouri Organizations: Capitol, Department of Government, Republicans, Democratic, New York, Capitol Hill, Republican, Getty, Social Security, Trump Locations: New, North Carolina, Arizona

A mysterious disease with flu-like symptoms has killed dozens of people in the Democratic Republic of Congo, according to health officials there. The unidentified illness has killed 79 people and sickened 376 as of Tuesday, according to the country's Ministry of Public Health, Hygiene and Social Security. The health ministry said that the remains of anyone who has died after experiencing similar symptoms should not be handled without the involvement of authorized health authorities, and it asked people to report any suspicious illnesses or unusual deaths. Emergency public health officials have been dispatched to the region, according to the ministry. The World Health Organization told NBC News that it is aware of reports of an unidentified disease and is working with local authorities.

Persons: “, Tarik Jašarević Organizations: Democratic, country's Ministry of Public Health, Hygiene, Social Security, Reuters, Associated Press, World Health Organization, NBC News, U.S . Centers for Disease Control Locations: Democratic Republic of Congo, Kwango, Congo

☆ Here's how investors are trading France’s political chaos
▼ + stars: | 2024-12-04 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

The French government is on the brink of collapse and investors are gearing up for a volatile week of trading, with some eyeing opportunities amid the chaos. The Oat - Bund spread, as the two respective sovereign bonds are known, shows the negative sentiment investors have toward French government bonds relative to German government bonds. It comes after Barnier said he would force through cuts in social security, to lower the government's 6% budget deficit, without a vote. If the recently appointed government is toppled, Barnier would be the shortest-serving prime minister in France's modern history. "They're agents of chaos for little political end," Everett added.

Persons: Michel Barnier, Barnier, France don't bode, Vassili Serebriakov, Alex Everett, abrdn, Emmanuel Macron, Macron's, Macron, Everett, Leon Ferdinand Bost, Abrdn's Everett Organizations: European Central Bank, UBS, CNBC, Government Bond Fund, Metzler Research, Metzler Bank, Rassemblement, France Locations: Paris, France, ECB, Everett, Netherlands, Spain

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