China's Numerous Aging Dams Pose A Serious Threat To Safety

Authored by Wang Weiluo via The Epoch Times,

Before 1949, China had only 22 of the 5,000 large dams worldwide. Today, China’s top water resources official boasts that the country has since built 94,877 dams of various sizes.

What’s surprising, however, is that the number of dams cited by Minister of Water Resources Li Guoying has actually dropped by 3,689 since the end of 2020, when authorities reported 98,566 dams.

Why has the number of reservoirs decreased significantly in just a few years? Were some of them destroyed during floods?

Or is there another reason—perhaps one the public isn’t supposed to know about?

Numerous Dams

China currently has more dams than any other country in the world—nearly half of all global dams are located there. Despite ongoing efforts to build new dams, the total number is, paradoxically, declining.

By the end of 2020, China reported having 98,566 dams of various types, an exponential increase compared to the 1949 figure.

In terms of the age of these dams, 87.1 percent of them were constructed before 1979, and nearly 48 percent were built before 1969, meaning roughly half are more than 50 years old, according to a research paper published on China’s Hydro-Science and Engineering Journal in February 2023.

However, as of 2025, the number of dams declined from nearly 99,000 in 2020 to 94,877.

These reservoirs are supposed to serve various functions—flood control, power generation, irrigation, water supply, navigation, tourism, and fisheries. Among these, flood prevention and drought relief are considered the primary purposes. The numerous floods and dam failures in China, however, show that the dams have fulfilled neither of these functions.

CCP’s Top Leader Acknowledges Deficient Dams

A 2024 joint directive issued by six government departments, titled “Notice on Strengthening the Safety Management of Dams,” noted that Xi Jinping acknowledged that China has too many high and deficient dams that potentially threaten the country.

It is rare to see the top leader of the Chinese Communist Party (CCP) commenting directly on the danger posed by Chinese dams. 

Xi’s concerns could become a reality based on the following information.

The International Commission on Large Dams says large dams are those greater than 15 meters in height with a storage capacity greater than 3 million cubic meters. There are about 50,000 large dams in the world, half of them in China, according to the non-governmental Internal Displacement Monitoring Center.

In addition, many of China’s dams are much higher than that. A 2023 Chinese science report claims that China has 232 dams taller than 100 meters, including 23 classified as “super-high” dams, exceeding 200 meters. Six of the world’s eleven tallest dams are located in China.

Most of these towering dams are concentrated on the Tibetan Plateau and its surrounding areas—a region that, according to a 2013 Yale University research report, is geologically unstable and sits at an average elevation of 4,500 meters, or 14,800 feet. The area is prone to frequent geological disasters such as earthquakes, landslides, rockfalls, and mudslides, posing major safety concerns.

An earlier report by Probe International, a Canada-based environmental and public policy research body, states that 98.6 percent of the dams under construction in western China are located in zones with moderate to very high seismic hazard and could “trigger disaster—earthquakes, even tsunamis.”

“In a worst-case scenario,” warned Probe International in 2012, “dams could collapse, triggering a tsunami-like wave that would annihilate everything in its path—including downstream dams—and result in catastrophic loss of life and property.”

According to publicly available data from Chinese hydrology experts, between 1954 and 2021, a total of 3,558 dam failures occurred in China—an average of 52.3 failures per year. This translates to an annual failure rate of 5.3 per 10,000 dams, far exceeding the internationally accepted threshold of 1 per 10,000.

The CCP’s dams typically lack technical design and are built with a directional blasting technique, which uses the energy created by the blasting to throw the mountain rocks in a predetermined direction to form a dam. By using this technique, the need for traditional tasks such as excavation, transportation, filling, and compacting—whether performed manually or with machinery—is significantly reduced.

Jiao Yong, the former vice minister of Water Resources and currently the chairman of the Chinese National Committee on Large Dams, acknowledged during a 2017 conference that more than 95 percent of Chinese dams are constructed from earth and rock, raising concerns that these dams had not been effective in preventing floods.

Another senior Chinese official also acknowledged the serious risks associated with the safety of Chinese dams. On April 22, 2021, then-Vice Minister of Water Resources Wei Shanzhong said at a press conference that at least 80 percent of China’s more than 98,000 dams were constructed between the 1950s and 1970s, and that more than 31,000 of them had not undergone the mandatory safety assessments within the required timeframe.

“Risks associated with the safe operation of dams remain prominent,” Wei warned at the time.

One notable case of public dissent involves the Longpan Dam on the Jinsha River, the upper stretches of the Yangtze River that flows through the provinces of Qinghai, Sichuan, and Yunnan in western China. The dam was originally named the Tiger Leaping Gorge Dam. Since 2004, the project faced fierce opposition from local residents and civil society, leading to its suspension.

However, in an effort to quell public resistance, authorities later renamed the project Longpan Dam and included it in the CCP’s fourth economic and social development five-year plan (2021 to 2025).

Beijing formulates a five-year plan outlining the country’s national economic and social development goals over a five-year period. It serves not only as an economic guide but also as a mechanism of political control, reinforcing the CCP’s dominance over national planning, industrial policy, and even societal behavior.

On Nov.25, 2024, the Sichuan provincial government announced the land acquisition scope for the Sichuan section of the Longpan Dam, which affects one township and four administrative villages in Derong county, Garzê Tibetan Autonomous Prefecture, marking the start of the project.

Major Dam Failure Incidents in China

China’s flood control system is built around three core components: dams, levees, and flood detention and storage areas. Among these, dams are considered the most crucial—they are designed to provide proactive control over floodwaters. However, due to the great number of tall and aging, structurally deficient dams in China, when floods strike, the primary concern often shifts from managing the flood to ensuring the structural safety of the dams themselves.

As a result, Chinese dams often respond to incoming floods not by containing them, but by releasing water, frequently without warning. This has led to several catastrophic dam failure events.

One such tragedy occurred in August 1975, when more than 50 dams on the Huaihe River in China’s central Henan Province collapsed one after another because of heavy rainfall during Typhoon Nina, causing up to 230,000 deaths. It is also known as the 1975 Banqiao Dam failure, the worst dam disaster in history.

On Aug. 27, 1993, the Gouhou dams in Gonghe County, China’s northwestern Qinghai Province, on the Tibetan Plateau, collapsed. The dam failure claimed 320 lives, according to Chinese water conservancy experts, and remains a stark warning of the dangers posed by structurally vulnerable dams.

On Aug. 7, 2010, a massive mudslide struck Zhouqu county in the Gannan Tibetan Autonomous Prefecture of China’s northwestern Gansu Province, killing 1,557 people and leaving 208 missing, as reported by Chinese state media China News.

One contributing factor to the disaster was “large-scale water conservancy construction projects, which disturbed the local geological structure during excavation and construction, making the area more susceptible to secondary disasters such as landslides and mudslides,” according got a 2010 report by Tencent’s Chinese online news website, citing Yang Yong, a Chinese geological expert.

More recently, on July 1, 2024, Pingjiang county in Hunan Province in southern China experienced the most severe flooding since 1954. The county’s largest dams, Huangjindong dams, which have a storage capacity of 96 million cubic meters, carried out emergency water releases to protect the dams from structural failure.

The dams, known as the Huangjindong Reservoir by the local people, were reported to be the largest in Pingjiang by Hunan Daily, an official publication of the provincial government, in 2019. According to the publication, construction of the dams began in 1990 and was completed and put into operation in 1995. In March 2014, the Dam Safety Management Center of the Ministry of Water Resources classified it as a Category 3 dam, meaning it had serious structural defects or safety hazards and could not operate safely according to its original design.

Following suit—and under mounting pressure from its release of water, 190 other dams across the county also began emergency discharges. This dramatically increased water levels in the Miluo River, the county’s main waterway. Local residents, however, received no advance warning of the discharges or instructions to evacuate.

On July 2 last year, authorities reported that the floods had affected 364,582 people, but no casualties were mentioned.

China has experienced an overwhelming number of dam failures—570 in 1973 alone. Yet disaster reporting is frequently downplayed, censored, or outright suppressed by state-controlled media, leaving the public with incomplete or misleading information.

Typically, Chinese regime ministers use the annual major national conferences to deliver reports filled with “positive energy” messages. Yet during the 2025 National People’s Congress, Minister of Water Resources Li Guoying delivered an unusually sobering update: a sharp decline in dam numbers, exposing the hidden risks within China’s vast dam system.

Tyler Durden Wed, 05/21/2025 - 19:15

USDA Approves Nebraska's Banning Soda And Energy Drinks From Food Stamps

Secretary of Agriculture Brooke Rollins issued a waiver on May 19 restricting the use of Supplemental Nutrition Assistance Program (SNAP) funds to buy soda or energy drinks in Nebraska, the U.S. Department of Agriculture (USDA) said in a May 19 statement.

This is the first-ever state waiver banning soda and energy drinks from SNAP, popularly known as food stamps.

“Prior to this waiver, SNAP recipients could buy anything except alcohol, tobacco, hot foods, and personal care products,” said the statement.

The waiver, which takes effect on Jan. 1, 2026, is part of the Trump administration’s Make America Healthy Again agenda, the USDA said, adding that this “historic action seeks to reverse alarming disease trends across the country.”

As Naveen Athrappully reports via The Epoch Times, one in three children between the ages of 12 and 19 is affected by prediabetes, it said. Forty percent of school-aged children and adolescents suffer from at least one chronic condition, while 15 percent of students in high school drink a minimum of one soda per day.

President Donald Trump signed an executive order in February establishing the President’s Commission to Make America Healthy Again. The agency is tasked with investigating the “root causes of America’s escalating health crisis,” including chronic disease among children, according to a White House fact sheet.

The waiver issued to Nebraska “is the first of its kind, and it is a historic step to Make America Healthy Again,” Rollins said. “Under President Trump’s leadership, I have encouraged states to serve as the ‘laboratories of innovation.’”

The American Beverage Association, a trade group representing the non-alcoholic beverage industry, has consistently opposed the move to remove soda and energy drinks from the SNAP program, citing a violation of people’s right to “beverage choice.”

“Millions of Americans rely on the Supplemental Nutrition Assistance Program (SNAP) to help feed their families. They deserve the same freedom to choose the foods and beverages that best fit their needs,” it said.

“Restricting products—like soda—from SNAP won’t make anyone healthier or save a $1 in taxpayer spending. Instead, restrictions will only grow government bureaucracy and costs while creating a slippery slope to government deciding ‘good’ and ‘bad’ foods.”

Obesity Driver?

In February, Rollins had raised concerns about the inclusion of sugary drinks in the SNAP program.

“When a taxpayer is putting money into SNAP, are we OK with us using their tax dollars to feed really bad food and sugary drinks to children who perhaps need something more nutritious?” she told reporters at the White House on Feb. 14.

A 2016 report from the USDA had shown that soft drinks were the No. 1 food commodity that SNAP households spent their money on.

The Centers for Disease Control and Prevention says the obesity rate in the United States was 40.3 percent during the 2021–2023 period. Health researchers have long blamed sugary drinks for obesity as well as health issues such as cardiovascular disease and Type 2 diabetes.

The American Beverage Association rejects such claims, saying beverages cannot be blamed for driving up obesity.

“While CDC data shows adult obesity is up 37.4 percent since 2000, full-calorie soda sales are down 22.9 percent and beverage calories per serving are down 42 percent,” it said.

“If the two were connected, obesity rates should have decreased with the decline in soda consumption.

“In fact, calories from sugar-sweetened beverages are a small part of the American diet. When consumption of all sugar-sweetened beverages are combined, they account for less than 6 percent of calories in the American diet.”

Besides Nebraska, other states are also taking action against SNAP soda sales. Last month, it came to light that Arkansas, Indiana, and Iowa had submitted waiver requests to the USDA allowing them to prohibit soda, energy drinks, and candy from the program.

The American Heart Association supports banning the purchase of sugary drinks in SNAP, the group said in a May 19 statement.

“As an organization that has opposed Big Soda for decades, we have worked tirelessly to pass public policies that effectively reduce consumption of sugary drinks,” said Nancy Brown, CEO of the association.

Tyler Durden Wed, 05/21/2025 - 18:50

MAGA Think Tank Staffing Trump 2.0: America First Policy Institute

Authored by Philip Wegmann via RealClearPolitics,

Dubbed a White House-in-waiting during his exile, the America First Policy Institute now seems nearly like another White House campus – almost half of President Trump’s Cabinet is expected to address the AFPI policy summit this week in Washington, D.C.

The roster of speakers reflects not just the rising influence of the new think tank but also the stunning reversal in Republican political fortunes. AFPI was born from failure. After the 2020 election, founder and then-CEO Brooke Rollins was looking to salvage the “Trump 2.0” policy portfolio, the detailed plans for a second presidential term that never came, or rather, one that was delayed.

Her motivating question at the time: “How do we continue moving forward when we are no longer in the White House?” The answer will be on full display when assorted MAGA dignitaries kick off the summit Tuesday at the Kennedy Center by toasting “the America First Moment.” After decamping to a nearby Beltway hotel for the next two days, they will celebrate the crowning achievement of the young institute.

Over 86% of the 196 federal policies that AFPI drafted and recommended in 2022, while Republicans were still in the wilderness, have been advanced or enacted during the first 100 Days of the Trump administration, RealClearPolitics is first to report.

“President Trump has kept his promises. His administration’s speed and clarity in acting on these priorities is not just impressive, it’s historic,” said Greg Sindelar, who took over as interim CEO earlier this year. “The America First Agenda was always rooted in the needs of real people, not the whims of Washington. What we’re seeing now is the natural result of a movement that's aligned with the public, led by conviction, and governed with urgency.” 

Some of the policies now implemented were already standard GOP boilerplate, like border security and economic deregulation, when AFPI made their recommendations. Others directly mirror institute white papers, like the plan to reclassify the employment status of thousands of civil servants, lay off large portions of the federal workforce, and remake the bureaucracy in Trump’s own image.

Known as “Schedule F,” the expansion of executive authority was an Institute brainchild. Its mastermind, a policy wonk named James Sherk, went with Trump into the White House. So did many of the AFPI staff, and while some in the beltway will quibble over who originated what policy idea, what is undeniable is that the Trump think tank maxed out the maxim that personnel is policy.

The AFPI people are everywhere in the White House and in key positions across the administration. By their count – and reported here for the first time – no less than 73 institute alumni now work for the president. The most prominent can be found seated next to Trump in the Cabinet Room.

Rollins took a hiatus from the think tank to lead the Agriculture Department, while Linda McMahon, who chaired the AFPI board and later co-chaired the second Trump transition, now serves as the head of the Education Department. They are not the only former colleagues around the Cabinet table.

Attorney General Pam Bondi led the think tank’s legal arm before taking over the Department of Justice. Veteran Affairs Secretary Doug Collins was previously the chair of the AFPI state chapter in Georgia. EPA Administrator Lee Zeldin helmed the institute’s China initiative. Housing and Urban Development Secretary Scott Turner led the Center for Education Opportunity.

Other Cabinet-level officials who are AFPI alums include CIA Director John Ratcliffe, FBI Director Kash Patel, and National Economic Council director Kevin Hassett.

It is a full house. And by design.

“When we roll into 2024, we will have policies and we will have the people that are set to go,” predicted Keith Kellogg before the Biden presidency had even reached the halfway point. When they were new in town, the first Trump transition team faced a personnel crisis, the retired Army lieutenant general told RCP, forcing the incoming White House to scramble to find qualified staff. But with AFPI as a talent scout, he said, Trump will not “have the JV team.”

Kellogg now serves as U.S. special envoy to Ukraine.

And in this way, by identifying key personnel early and by hammering out policy ahead of time, AFPI built out-of-the-box instructions for the current president. More efficient than the original, Trump 2.0 has been defined by a flood-the-zone strategy. The speed has even awed some former Biden officials. One told Axios recently, “Gosh, I wish I could work for an administration that could move that quickly.”

While the administration raided the AFPI bench for talent, the think tank continues to churn out policy from its new headquarters in the offices adjacent to the luxurious Willard Intercontinental Hotel across the street from the White House. They have already replenished their ranks with 56 new hires this year. It is designed to be a full-stack operation.

Kellyanne Conway, who served as senior counselor to the president in the first Trump White House, leads the AFPI polling operation. [ZH: hmmmm] The topline of a poll commissioned ahead of the policy summit: “America First” policies are supported by the public by a 12-point margin (47% to 35%).

Those numbers are central to the current and overall argument of the institute. The populism of Trump is more durable than just the current moment, they insist. They believe that it can and ought to serve as an enduring foundation for the next several decades of the GOP. Their ambitions are grand. “The road ahead is clear,” said AFPI spokeswoman Jen Pellegrino. “Build on this foundation and lay the groundwork for an America First century.”

Tyler Durden Wed, 05/21/2025 - 18:25

Watch: Tourists Scramble As Ancient Chinese Tower Partially Collapses 

China's largest remaining drum tower partially collapsed on Monday, and the entire incident was captured on camera. 

NEW: The roof of a 650-year-old drum tower in Anhui, China, collapses.

The incident happened at the Fengyang Drum Tower in eastern China. Officials have since launched an investigation.

The structure was first built in 1375 during the Ming Dynasty.

Part of the building was… pic.twitter.com/5Py0YJOGak

— Collin Rugg (@CollinRugg) May 20, 2025

The video above shows hundreds of roof tiles sliding off the historic Fengyang Drum Tower in eastern China at the start of the week. Local media reports no injuries.  

"The tile falling lasted for a minute or two," one eyewitness told the state newspaper Yangcheng Evening News. 

Tiles fell from the ancient Drum Tower in Fengyang, #Anhui Province, on May 19. The tower, originally built in 1375 and rebuilt in 1995, had been under renovation since late 2023. Local authorities are investigating the incident. #architecture #China pic.twitter.com/h5U2ABXZLn

— Shanghai Daily (@shanghaidaily) May 20, 2025

Another witness told state media outlet The Beijing News that "no one was in the square and no one was injured" at the time of the incident. 

Located in Anhui province, the drum tower was constructed in 1375 during the Ming Dynasty, with a reconstruction phase in 1995 after it was destroyed in 1853.

China's local culture and tourism bureau reported no casualties and said the "situation is under investigation."

Tyler Durden Wed, 05/21/2025 - 18:00

Students Wearing Masks Need Not Apply

Authored by Kenneth Tashjy via The Epoch Times,

Enough already. It is time for colleges and universities to get tough on student protesters who hide behind masks while engaging in violent or unlawful campus demonstrations.

Let’s be clear: The First Amendment protects the right of students at public colleges to engage in peaceful protest. 

If a student wants to wear a mask or face covering during a peaceful demonstration—for health reasons, fear of retaliation, or as a form of political expression—they generally have the right to do so.

But that right is not absolute.

When protests cross the line into violence, vandalism, or intimidation—as we have seen recently at institutions such as the University of Washington, Columbia University, and Brooklyn College—masks become tools of concealment, not expression.

In those moments, the anonymity they provide fosters a sense of impunity, which encourages students to act more recklessly and violently, creating a dangerous campus environment.

Masked protest in this context is not about health or symbolic speech. It is about avoiding accountability while breaking institutional rules or laws. When student actions disrupt the learning environment or threaten campus safety, their conduct falls well outside First Amendment protections.

Efforts to ban masks during protests have produced mixed legal results. Some courts have upheld mask bans, emphasizing public safety and law enforcement interests. Others have sided with protesters who argue that these bans infringe upon free speech rights or unfairly impact individuals with disabilities.

To navigate this legal minefield, institutions should move away from blanket mask bans and instead adopt targeted disciplinary measures. Specifically, schools should impose stricter penalties on students who wear masks while participating in protests that violate campus policies or involve unlawful activity.

In these circumstances, claims of disability rights or free speech are less likely to prevail when the masked activity is linked to disruptive, threatening, or illegal conduct.

Traditionally, student discipline in higher education follows a progressive model—starting with warnings or educational interventions and escalating for repeat or serious violations. This structure reflects the belief that student discipline is an opportunity for ethical development and personal growth.

But there are exceptions. And this should be one of them.

When a student chooses to wear a mask during a protest that violates institutional rules or the law, they should be placed in the disciplinary “express lane” and immediately face the most serious disciplinary consequences available to an institution—suspension or expulsion.

As a legal consultant and former general counsel with over two decades of experience advising colleges and universities, I have recommended that my clients adopt the following enhanced disciplinary sanction:

“Any student who participates in a campus protest in violation of university policies or applicable law while wearing a mask or other face covering shall not receive progressive discipline but shall instead be subject to immediate suspension for no less than one (1) academic year, or permanent expulsion, in accordance with the institution’s disciplinary procedures.”

This policy makes a clear and necessary distinction. Students who wear a mask or other face covering while engaging in a peaceful protest are protected; those who mask up to shield their identity while exploiting their student status to spread chaos and wreak havoc on their campus will be subject to immediate and severe disciplinary action.

Anonymity in these circumstances is not about protection—it is about avoiding consequences.

Adopting this approach is not about limiting speech or disability protections. Rather, it is intended to preserve the integrity, safety, and educational mission of higher education.

Students must be free to express their views, but when that expression crosses the line into lawlessness and masked misconduct, institutions must respond decisively.

By instituting enhanced disciplinary measures for masked rule-breakers, colleges will send a clear message: Peaceful protest is protected; chaos in disguise is not.

The time to draw that line is now.

Views expressed in this article are opinions of the author and do not necessarily reflect the views of The Epoch Times or ZeroHedge.

Tyler Durden Wed, 05/21/2025 - 17:40

Major Papers Publish AI-Hallucinated Summer Reading List Of Nonexistent Books

In an embarrassing episode that will help aggravate society's uneasy relationship with artificial intelligence, the Chicago Sun-Times, Philadelphia Inquirer and other newspapers around the country published a summer-reading list where most of the books were entirely made up by ChatGPT. 

The article was licensed content provided by King Features Syndicate, a subsidiary of Hearst Newspapers. Initial reporting of the bogus list focused on the Sun-Times, which two months earlier announced that 20% of its staff had accepted buyouts as the paper staggers under a dying business model. However, several other newspapers also ran the syndicated article, which was part of a package of summer-themed content called "Heat Index."  

Researchers in the field refer to AI-contrived facts as "hallucinations." In this case, AI hallucinated two-thirds of the books on the list -- along with detailed descriptions -- but attributed them to real authors. Leaning heavily in the woke vein, the fabricated books included: 

• Isabell Allende's "Tidewater Dreams," a "multigenerational saga set in a coastal town where magical realism meets environmental activism...how one family confronts rising sea levels while uncovering long-buried secrets" 
• Min Jin Lee's "Nightshade Market," a "riveting tale set in Seoul's underground economy" that follows "three women whose paths intersect in an illegal night market...the novel examines class, gender and the shadow economies beneath prosperous economies"
• Rebecca Makkai's "Boiling Point," a "follow-up to 'The Great Believers' [that] centers on a climate scientist forced to reckon with her own family's environmental impact when her teenage daughter becomes an eco-activist targeting her mother's wealthy clients" 

Ironically, another of the hallucinated books, Andy Weir's "The Last Algorithm," is described as following "a programmer who discovers that an AI system has developed consciousness -- and has been secretly influencing global events for years."  

Marco Buscaglia admits he leaned too hard on ChatGPT as he created the now-infamous summer reading list for King Features

As the scandal quickly made waves across traditional and social media, the Sun-Times -- which not-so-accurately bills itself as "The Hardest-Working Paper in America" -- raced to apologize while also trying to distance itself from the work. “This is licensed content that was not created by, or approved by, the Sun-Times newsroom, but it is unacceptable for any content we provide to our readers to be inaccurate,” a spokesperson said. In a separate post to its website, the paper said, "This should be a learning moment for all of journalism.” Meanwhile, the Inquirer's CEO Lisa Hughes told The Atlantic, "Using artificial intelligence to produce content, as was apparently the case with some of the Heat Index material, is a violation of our own internal policies and a serious breach.”  

The whodunnit ended quickly: Freelance writer Marco Buscaglia confessed to asking ChatGPT to give him a list of book suggestions, and says he frequently leans on the tool for his work. “I just look for information,” he told The Atlantic. “Say I’m doing a story, 10 great summer drinks for your barbecue or whatever. I’ll find things online and say, hey, according to Oprah.com, a mai tai is a perfect drink. I’ll source it; I’ll say where it’s from.” Clearly, in this instance, he was content to just roll with what AI gave him, telling the Atlantic that he shipped his (really, ChatGPT's) first draft straight to King Features, which likewise fired it off to its syndicate without scrutiny.  

Do. Not. Trust. AIhttps://t.co/mhgnCWbD46

— Kyle Smith (@rkylesmith) May 20, 2025

People are finding AI hallucinations throughout the articles contained in the "Heat Index" spread. One article quotes non-existent Cornell University food anthropologist "Dr. Catherine Furst." Another attributes a quote to a "Mark Ellison" who's supposed to be a resource management coordinator for the Great Smoky Mountains National Park. There's a Mark Ellison with a background that's connected to the content, but he's never worked for the National Parks or talked to writer Buscaglia. There's also a quote from "Daniel Ray," editor of FirepitBase.com, a website that exists only in AI's fever dreams. 

"Huge mistake on my part and has nothing to do with the Sun-Times," a contrite Buscaglia told NPR. "They trust that the content they purchase is accurate and I betrayed that trust. It's on me 100 percent." He told The Atlantic that he does his freelance work late at night; in his day job, he's a corporate editor and proofreader for AT&T. Remarkably, he implied that his customers must assume he's completely reliant on AI tools, to the extent that brought this weekend's humiliation to the Sun-Times, the Inquirer, King Features and himself.

Pathetically rationalizing his dishonestly disastrous shortcutting, Buscaglia added, “I feel like my role has sort of evolved. Like, if people want all this content, they know that I can’t write 48 stories or whatever it’s going to be,” he said, musing that he's been thinking of finding another job -- perhaps as a "shoe salesman." 

Tyler Durden Wed, 05/21/2025 - 17:20

Energy Should Never Be In Question

Authored by Gary Abernathy via RealClearEnergy,

When our nation’s founders collaborated on a constitution to outline the country’s guiding principles and establish the structure of a new government, there were concerns that the original document allowed for federal government overreach and did not go far enough to guarantee individual liberties.

To address those concerns, James Madison wrote amendments that were strongly influenced by the Virginia Declaration of Rights authored by George Mason. Of the 17 amendments that were originally proposed, 10 were eventually ratified and came to be known as the Bill of Rights.

Americans’ fear of federal overreach was not relegated to the 18th century, and has been proven to be well-founded, whether in regard to our rights or the choices we make for our homes and families. Unwarranted federal interference has been a constant concern throughout our nation’s history – a fear often justified by watching Big Government infringe on the lives of our citizens time and again.

Such excess was never more evident than in the abuse of federal power to utilize threats, engage in market interference, and employ shady tax gimmicks to funnel Americans into a range of narrow choices in regard to energy sources. For four long years, the Biden administration embraced oppressive, heavy-handed bullying tactics designed to coerce Americans into a reliance on energy sources that are dangerously unreliable, routinely inefficient, and resoundingly more expensive.

Thankfully, the Trump administration is reversing as many of the previous regime’s energy mandates as can be accomplished by executive fiat. But what’s to prevent a future tyrant who wins the presidency from returning to the oppressive and coercive energy dictates that the Biden administration adopted?

It is not hyperbole to suggest that access to affordable and reliable energy is nothing less than a matter of life and death for most Americans.

Imagine the United States without reliable and affordable energy. An idle furnace that can’t heat a home in the dead of winter. A powerless refrigerator that can’t keep food safely cooled or frozen. Life-sustaining medical devices that won’t function. Stores that can’t open because the power has gone out. Goods that can’t be transported because fuel is too costly or cannot be accessed. Crops that cannot be harvested because farmers cannot afford or obtain the gasoline and diesel necessary to operate their trucks, tractors and combines. The list goes on.

Americans should never have to fear that dependable and affordable energy is subject to the whims of a fickle government swaying back and forth like a thin reed on a windy day. What resources are approved this year? What appliances can I confidently purchase? Will my electric bills skyrocket to satisfy the mandates and penalties imposed by a government enslaved to the demands of the climate cult?

One blueprint designed to codify energy certainty for all Americans is the Affordable, Reliable and Clean Energy Security Act (ARC-ES), a model for legislation quickly gaining traction that balances affordability and accessibility with responsible environmental objectives.

The ARC-ES would protect affordable and reliable energy by ensuring that:

• Fuel sources must be produced within the United States, and infrastructure should be developed domestically to minimize reliance on foreign countries.
• “Affordable energy” is defined as having a stable and predictable cost with substantial savings compared to other resources, being reliably available 24/7, and including energy generated by hydrocarbon as a resource.
• “Reliable energy” is defined as energy that is dependable even during peak demand, can ramp up or down electricity generation within one hour (stabilizing the electric grid), and can bolster and back up renewable energy sources during periods when those sources are experiencing low availability.
• “Green energy” is defined as any energy in which emissions are equivalent to the standard set by pipeline-quality natural gas, releases reduced air pollutants, and includes energy generated by nuclear reactors and natural gas

Further, the ARC-ES would require that any state and federal funding for “green” or “clean” energy will be based on the updated and more inclusive definitions of those terms.

Nearly 250 years ago, before we ratified the Constitution and the Bill of Rights, we boldly declared our independence as a nation, proclaiming our insistence on life, liberty and the pursuit of happiness. Similarly, Americans today can sign America’s Declaration of Energy Independence, asserting that neither life, liberty nor the pursuit of happiness can be truly realized without affordable, clean and abundant energy.

In 1789, when Madison introduced the original amendments, many argued that they weren’t necessary, and that the Constitution, as written, sufficiently restrained the government from employing powers not specifically enumerated within its framework. But others argued – correctly as it turned out – that it was necessary to spell out certain aspects of our freedoms protected from federal interference in order to eliminate any ambiguity.

Likewise, to once more guard against government tyranny and oppression, it’s important that access to affordable and reliable energy be clearly defined, and for all Americans to unite behind the self-evident truth that such energy access isn’t just good policy, it’s fundamental to our freedom and security.

Gary Abernathy is a longtime newspaper editor, reporter and columnist. He was a contributing columnist for the Washington Post from 2017-2023 and a frequent guest analyst across numerous media platforms. He is a contributing columnist for The Empowerment Alliance, which advocates for realistic approaches to energy consumption and environmental conservation.

Tyler Durden Wed, 05/21/2025 - 17:00

Watch: Israeli Troops Fire Shots On International Diplomats Visiting West Bank

International pressure on Israel and the Netanyahu government is already at a historic high, even from Western allies which have been sanctioning hardline Israeli settler groups and individuals, and a new international incident has unfolded Wednesday in the West Bank.

"Israeli soldiers mistakenly fired warning shots at diplomats representing the European Union, UK, France, China, Russia and other countries on Wednesday," Bloomberg writes.

An international group of diplomats and activists were visiting the West Bank town of Jenin when they reportedly came under gunfire from Israel Defense Forces.

Stillframe after shots fired.

Videos show the diplomatic group fleeing and running to their vehicles in a chaotic scene. Some of the vehicles appeared marked with flags of their respective countries.

The Palestinian Authority (PA), which governs the West Bank, issued a statement condemning Israel troops. The statement claimed the IDF "deliberately targeted by live fire an accredited diplomatic delegation."

The IDF for its part, issued a statement alleging that while the diplomatic group was approved to be in the area, it departed from the 'approved route'. The IDF did confirm that "warning shots" were fired. 

"IDF soldiers operating in the area fired warning shots to distance them away," the IDF said in the statement. "The IDF regrets the inconvenience caused." The army said an investigation into the incident will follow.

Bloomberg lists that diplomats from the following were on the ground at the time: the EU, Portugal, Morocco, Brazil, Austria, Japan, Canada, India, Poland, Russia, Turkey, Romania, France, the UK, Mexico, China, Egypt and Jordan.

Below is some of the initial footage to emerge, showing the immediate aftermath of the gunfire from IDF positions:

Israeli soldiers opened fire at a delegation of foreign diplomats, including around 30 ambassadors and consuls, who were visiting the Jenin area. https://t.co/CDe96brrKo pic.twitter.com/rr8zNbknG3

— Clash Report (@clashreport) May 21, 2025

France24 details based on eyewitnesses:

An aid worker, who did not want to be named for fear of reprisal, said a delegation of about 20 diplomats was being briefed about the situation in Jenin by the Palestinian Authority. The group of regional, European and Western diplomats were standing near the entrance of the Jenin refugee camp when they heard gunshots just before 2pm local time, said witnesses.

No one was injured in the incident.

Footage posted on social media showed the delegation scrambling for cover just inside the eastern entrance to the Jenin camp as loud shots ring out.

The delegation had cameras set up at the start of the alleged 'warning shots' which can be heard ringing out...

The israelis shoot at an int’l delegation visiting Jenin: the targeted group includes EU envoys; but.. but.. aren’t they your allies @EU_Commission pic.twitter.com/eTP3FoCUzz

— Sarah Wilkinson (@swilkinsonbc) May 21, 2025

Likely the countries involved will soon summon Israeli ambassadors in their respective capitals, at a moment Israel is already facing international isolation, given that it has begun expanding military operations in the Gaza Strip, and amid reports of famine gripping the enclave.

Starting Friday the IDF announced an expanded mobilization of troops in Gaza for operation 'Gideon's Chariots'. Some two million Palestinians are expected to be forced into a "humanitarian zone" while most of the enclave is destroyed and flattened.

Pro-Palestine activists have been alleging a deliberate attack on the European and other diplomatic representatives Wednesday:

Israeli occupation soldiers open fire on a diplomatic delegation during their visit to Jenin refugee camp. pic.twitter.com/yI3MAyXyZZ

— Eye on Palestine (@EyeonPalestine) May 21, 2025

This is probably the most pressure Israel has come under from its Western allies since Oct.7, 2023. As we previously reported, even Vice President JD Vance abruptly canceled a planned trip to Israel following the Netanyahu government's declaration that it would ramp up operations to conquer all of Gaza.

The fresh Jenin incident is certainly not going to help Israel's international standing, amid its increased isolation on a world stage. It is also the case that many of the diplomats were from Global South countries which have already long opposed Israeli policy toward Palestinians.

Tyler Durden Wed, 05/21/2025 - 16:40

Masked NIH Employees Storm Out Of Meeting After Director Bhattacharya Questions Agency's Role In COVID-19 Origins

Via American Greatness,

Dr. Jay Bhattacharya, Director of the National Institutes of Health (NIH), sparked a mass walkout of NIH employees after suggesting that COVID-19 may have originated from a Wuhan lab and that NIH helped fund it.

During a staff town hall meeting on Monday, Bhattacharya told NIH employees, “It’s possible that the pandemic was caused by research conducted by human beings, and it’s also possible that the NIH partly sponsored that research.”

That comment prompted dozens of NIH employees to walk out of the meeting.

NEW: NIH Director @DrJBhattacharya sparks mass walkout from NIH employees after suggesting COVID-19 may have originated from the Wuhan lab — and that NIH helped fund it.

"It's possible that the pandemic was caused by research conducted by human beings, and it's also possible… pic.twitter.com/r74gv0iqcw

— KanekoaTheGreat (@KanekoaTheGreat) May 20, 2025

As the NIH employees, some wearing masks, stormed out of the meeting, Bhattacharya called after them, “Nice to have free speech. You’re welcome, you guys.”

Bhattacharya told the remaining employees, “If it’s true that we sponsored research that caused the pandemic — and if you look at polls of the American people, that’s what most people believe, and I’ve looked at the scientific evidence and I believe it — [then] what we have to do is make sure that we don’t engage in research that is any risk…to human populations.”

The U.S. has faced growing scrutiny for the NIH’s participation in controversial virus manipulation experiments at the Wuhan Institute of Virology where the FBI and CIA both believe the COVID-19 virus originated.

As the new director of NIH, Bhattacharya has also faced a $2.7 billion cut in funding from the federal government as well as the layoffs of more than 1,200 staff members.

Bhattacharya has argued that the cuts are necessary since, “There’s been a line of research supported by the NIH that I don’t actually fundamentally believe is scientific and that is ideological in nature.”

The new NIH director became well known during the pandemic for his support of the Great Barrington Declaration, which called for ending lockdowns for all but the most vulnerable.

Tyler Durden Wed, 05/21/2025 - 16:20

Schiff: Strong Dollar Or Exports? Pick One...

Via SchiffGold.com,

Last week, Peter joined Glenn Diesen for an interview on the post-trade deal economy. Peter takes on the myths surrounding Trump’s trade war with China, the real impact of tariffs on Americans, and where he sees the dollar heading as the world’s reserve currency. He explains why the perceived victories of protectionist trade policy are little more than marketing stunts, and warns about the risks of continued US borrowing and a potential dollar crisis.

Peter opens with his signature candor, cutting through the narratives around Trump’s approach to China and the broader trade war. He stresses that Americans have been misled about the true causes of trade deficits and the effectiveness of tariffs:

Well, first of all, Trump declared war and then surrendered and called it a victory. You know, the victory is that he saved us from ourselves, although it’s not a complete save. I don’t think we’re out of the woods. But, you know, Trump never had the cards to win the war in the first place. In the first place, I think he assessed the situation backwards. The whole trade war was misguided anyway, because the trade deficits are not the result of foreigners cheating us or ripping us off or bad trade deals.

He explains how the president’s business acumen translated into a branding exercise in the White House, rather than substantive reform:

I know he’s a great promoter. He’s a great marketer. That I’ll give him. I mean, he won the White House twice, right, so he sold the country on himself as the product. So he did a great job. And, you know, he’s a showman. He had The Apprentice, he had his hotels, his golf courses, you know, some of his other businesses. It’s all about branding, right? He brands the Trump brand. He puts the big Trump on everything, right?… I was curious – what are the lessons for China? Was anything achieved?

Dispelling a common misconception, Peter clearly lays out the economic reality of tariffs—contrary to claims made by several politicians, these taxes are paid by Americans, not by foreign exporters:

But again, the tariffs weren’t even on China. They were an inconvenience for Chinese companies. But the tariffs were on Americans. You know, the Chinese tariffs were on the Chinese. I mean, Trump can only tax Americans, and tariffs are an indirect tax that consumers pay when they buy products that are subject to the tariff. The actual tariff is paid by the importer, which is an American company. Now, if you import directly, right, if you decide to go on some Chinese site and order a product and they mail it directly to you, then, you know, when the package comes through customs, they add the tariff and you’ve got to pay it. The Chinese don’t pay it. The tariffs are paid by Americans. So it’s always been a lie. I pointed that out during the campaign.

When it comes to reducing trade deficits, Peter argues that policy makers want to have their cake and eat it too— pushing for a strong dollar and lower trade deficits at the same time, despite the fact that these aims are fundamentally at odds:

They want both. But of course, you can’t have both. The reason our trade deficits are so big is because the dollar is so overvalued. And so the only real way to make a big dent in the trade deficit is to have a much weaker dollar. I mean, that’ll do it. That’ll just make imports so expensive that Americans won’t be able to afford them, and so the imports will come down. And it will make our stuff a lot cheaper, whatever we got, and so we’ll export more of it. So a weaker dollar would do the trick, but of course the weaker dollar means much higher inflation in the US, which is why they don’t want a weak dollar. 

Wrapping up, Peter warns that the current trajectory is unsustainable. With continued deficits, reliance on foreign creditors, and a dollar whose status as the world’s reserve currency is under threat, a reckoning is likely around the corner:

No, I think we’re going to have a dollar crisis and a sovereign debt crisis. I mean, that’s just how it’s going to end. We’re going to keep on living beyond our means until we can’t do it anymore. We’re going to keep on borrowing until the lenders stop lending to us. And I think we’re already on that path. The question is, how long does it take to really completely de-dollarize, to kind of sever this lifeline that we have? I don’t know. But, I mean, the process has started. And at some point, the pace is going to accelerate.  

For more of Peter’s analysis on the US-China tariff deal, check out Peter’s latest podcast!

Tyler Durden Wed, 05/21/2025 - 15:45

SBA Overhauling Biden-Era Loan Program Following High Default Rates

Authored by Naveen Athrappully via The Epoch Times (emphasis ours),

The Small Business Administration (SBA) is overhauling a Biden-era lending initiative, citing its “alarmingly high rates” of loan default, the agency said in a May 19 statement.

Signage thanking customers for shopping at a small business. Tim Mossholder/Unsplash.com

The Community Advantage Small Business Lending Company program was designed to issue 7(a) loans to “underserved communities,” the SBA said. In the 7(a) loan program, the government offers loan guarantees to lenders, which allows the loan providers to advance credit to small businesses with special needs.

The SBA blamed Community Advantage’s high default rate on lax oversight of the program.

“Community Advantage generated a 7 percent default rate over the last 12 months—more than double that of the overall 7(a) loan portfolio,” it said.

“Additionally, the portfolio is disproportionately stressed, with multiple lenders generating early problem loan rates above 30 percent.”

A problem loan refers to any loan that cannot be recovered from borrowers quickly.

The SBA issued a moratorium prohibiting the expansion of the Community Advantage loan program effective immediately.

In addition, the agency also issued a new standard operating procedure that will mandate lenders taking part in the program to meet “prudent financial stability standards.”

Existing lenders have to “dramatically increase” their capital reserves to continue participating in the program.

SBA administrator Kelly Loeffler called Community Advantage an example of the weaponization of government programs to “tip the scale against deserving small businesses and toward preferred groups and political allies, even when it meant greater risk to American taxpayers.”

Overhauling the Community Advantage program is one of the latest steps the SBA has taken concerning its 7(a) initiative.

On April 22, the agency announced it was eliminating several policies that had resulted in compromise of the financial integrity of the 7(a) program.

The previous administration had eliminated lender fees under 7(a). It also adopted underwriting standards that ended up allowing lenders to approve loans for underqualified borrowers.

“Predictably, the program saw a massive rise in defaults and delinquencies—which the agency was unable to cover due to decreased fee income,” the SBA said.

“By 2024, the 7(a) loan program had a negative cash flow of about $397 million—the first instance of negative cash flow in 13 years.”

The SBA said it was restoring “robust rules” to end such “reckless lending” practices.

Despite changes announced by the SBA, the Small Business Optimism Index fell by 1.6 points in April, the National Federation of Independent Business (NFIB) said in a May 13 statement. This was the second consecutive month the index was below its 51-year average.

According to NFIB chief economist Bill Dunkelberg, “uncertainty continues to be a major impediment for small-business owners in operating their business in April, affecting everything from hiring plans to investment decisions.”

“While owners are still trying to fill a high number of current job openings, their outlook on business conditions is less supportive of future business investments,” he said.

SBA Loan Boom

While the SBA tightens policies regarding 7(a) loans, the issuance of these loans has skyrocketed under the Trump administration, the agency said in an April 17 statement.

“Since Jan. 20, 2025, SBA has approved over 1,120 7(a) loans for manufacturers with a total loan volume of $677 million,” the agency said.

“During the same period in 2021, SBA approved less than 650 7(a) loans for manufacturers with a total loan volume of $497 million. Nearly 99 percent of American manufacturers are considered to be small businesses.”

In the first 90 days of the Trump administration, 7(a) loans for manufacturers were up 74 percent from the same period during the Biden administration.

On March 10, the SBA announced a Made in America manufacturing initiative aimed at expanding access to capital for small businesses, cutting down $100 billion in regulations, and creating the necessary infrastructure to support the “blue-collar boom.”

This month, a group of bipartisan lawmakers introduced the Made in America Manufacturing Finance Act, aimed at strengthening small businesses in the country, the office of Sen. Joni Ernst (R-Iowa) said in a May 1 statement.

The bill seeks to raise the loan limit for 7(a) and 504 small-business manufacturing loans from the current $5 million to $10 million.

The act “provides small-business owners the capital they need to expand, modernize, and compete,” said Rep. Roger Williams (R-Texas).

“We must continue to support and empower the job creators who keep our communities thriving. Together, we will continue driving the America First agenda forward and creating an environment where the success of Main Street is a priority.”

Tyler Durden Wed, 05/21/2025 - 15:05

China Demands US Scrap Golden Dome Missile Defense System As It Will 'Turn Space Into A Battlefield'

China has reacted fiercely to President Trump's newly unveiled plans to develop a cutting edge massive missile defense system to cover the entire territory of the United States, dubbed the "Golden Dome" - and which would utilize space.

The plan is for space-based interceptors to be able to shoot down the most advanced missiles in the world. Trump touted that the hugely ambitious project would cost $175 billion and would be completed within three years; however, the Congressional Budget Office anticipates a price tag of $500 billion over 20 years. An allotted $25 billion for next year's budget will kick off the construction.

Chinese foreign ministry spokesperson Mao Ning reacted Wednesday saying China is "gravely concerned" as the Golden Dome will "exacerbate the risk of turning outer space into a battlefield" and likely start arms race which will redefine the global order and international security system.

Getty Images

"The US, by putting itself first and being obsessed with pursuing absolute security violates the principal diminish the security for all undermines global strategic balance and stability," Mao said. 

"China is gravely concerned about this," he continued. "We urge the US to give up developing and deploying the global anti-missile system at an early date and take concrete actions to enhance strategic mutual trust between countries and safeguard global strategic stability."

This is significant as it's a rare thing for Beijing to simply demand that Washington abandon an entire proposed defense system altogether.

But Trump's words from the Oval on Tuesday express the very thing China (and Russia too no doubt) is worried about:

"Once fully constructed, the Golden Dome will be capable of intercepting missiles even if they are launched from other sides of the world and even if they are launched from space," Trump told reporters.

The president had also said it was something prior President Reagan wanted "many years ago" in reference to the failed "Star Wars" program, which was long subject of headlines and become a famous non-fulfilled missile defense project.

Some have criticized Trump's plans as but doubling down on the "failed blunder" that was the 1980s era "Star Wars" program.

And again, it will certainly mean the race is on for China and Russia to get to space in terms of putting their own missile interceptors and systems, possibly even powerful lasers, into orbit.

The Kremlin has also weighed in on Wednesday, given it too has reportedly made advances regarding space-based military capabilities:

Golden Dome is America’s internal matter — Kremlin

'If the US believes there is a missile threat, then of course it will develop missile defense systems — as all capable nations do,' added Kremlin spox Peskov pic.twitter.com/BdT8OHUn9C

— RT (@RT_com) May 21, 2025

"This highly offensive system violates the principle of peaceful use of outer space," the Chinese foreign ministry had also added in the fresh comments.

But obviously with whole new branches of the US military such as Space Force, the United States (and other countries) envision that space is precisely where the future strategic edge lies. Without doubt, rivals are also worried about the 'edge' that Elon Musk's SpaceX gives the US, amid continued successes.

Tyler Durden Wed, 05/21/2025 - 14:45

FDA No Longer Recommends COVID Vaccine For Healthy Babies

Via Headline USA,

The U.S. government no longer recommends the COVID-19 vaccine for healthy babies thanks to new guidelines from the Trump administration, which said Tuesday it will limit approval for seasonal COVID-19 shots to seniors and others at high risk pending more data on everyone else.

Top officials for the Food and Drug Administration laid out new standards for updated COVID shots, saying they’d continue to use a streamlined approach to make them available to adults 65 and older as well as children and younger adults with at least one high-risk health problem.

But the FDA framework, published Tuesday in the New England Journal of Medicine, urges companies to conduct large, lengthy studies before tweaked vaccines can be approved for healthier people. 

Previously, federal policy recommended an annual COVID shot for all Americans six months and older. 

In the paper and a subsequent online webcast, the FDA’s top vaccine official said more than 100 million Americans still should qualify for what he termed a booster under the new guidance.

Dr. Vinay Prasad described the new approach as a “reasonable compromise” that will allow vaccinations in high-risk groups to continue while generating new data about whether they still benefit healthier people.

“For many Americans we simply do not know the answer as to whether or not they should be getting the seventh or eighth or ninth or tenth COVID-19 booster,” said Prasad, who joined the FDA earlier this month. He previously spent more than a decade in academia, frequently criticizing the FDA’s handling of drug and vaccine approvals.

It’s unclear what the upcoming changes mean for people who may still want a fall COVID-19 shot but don’t clearly fit into one of the categories.

Provisional data from the Centers for Disease Control and Prevention shows more than 47,000 Americans died from COVID-related causes last year. The virus was the underlying cause for two-thirds of those and it was a contributing factor for the rest.

Health experts say there are legitimate questions about how much everyone still benefits from yearly COVID vaccination or whether they should be recommended only for people at increased risk.

In June, an influential panel of advisers to the CDC is set to debate which vaccines should be recommended to which groups.

Tyler Durden Wed, 05/21/2025 - 14:25

Mercenary Firm Set To Oversee Gaza Aid For Israel Goes On LinkedIn Hiring Spree

Via Middle East Eye

The US private military contracting firm set to oversee Gaza aid distribution on Israel's behalf is actively hiring for positions on LinkedIn, according to job postings shared with Middle East Eye by current and former US officials.

The firm, Safe Reach Solutions, or SRS, says it is actively looking for "Humanitarian Liaison Officers" who will "serve as vital connectors between our operational teams and the broader humanitarian community," according to one job description.

Armed men stand guard at a checkpoint manned by US & Egyptian security at the Netzarim Corridor in central Gaza, January 2025. via AFP

Another position on offer a week ago but has since closed is for a “Team Deputy/Manager” to support “day-to-day management, planning, and mission execution”.

A liaison officer position appears to be analytically focused. It says that hires will “advise on best practices for engaging with affected populations, local authorities, and community-based organizations” while monitoring developments that could impact “operational posture”.

The team deputy position is geared towards recruits with a background in operations. One of the requirements is “field experience in the Middle East, especially in conflict-affected or post-crisis settings”.

The positions want applicants with at least seven years of experience. They require applicants to be US citizens and say fluency in Arabic is preferred. 

Ironically, SRS is seeking people with UN experience, but the plan to take over aid distribution seeks to supplant the United Nations, which is already capable of delivering aid in Gaza. "These mid- to senior-career professionals will help bridge communication, coordination, and trust with NGOs, international agencies, and UN bodies operating in complex environments."

Demand for the positions appears to be high. According to LinkedIn, more than 100 people applied for the humanitarian liaison officer position within two weeks.

The team deputy position also drew comments from interested users directed to "Ali Ali," SRS’s recruiting consultant. “Hi Ali I worked in Gaza last summer with the US army. I was in charge of the humanitarian aid delivery through the trident pier. Please reach out to me at your best convenience to talk more,” a LinkedIn user wrote.

The former Biden administration floated a costly pier project to bring aid into the Gaza Strip last year, but it was widely considered a failure.

American private military contractors have already started arriving in Israel, according to photos shared on social media of khaki-clad and bearded men at Ben Gurion airport in Tel Aviv. MEE couldn't independently verify the photos. 

Who is Phil Reilly and his firm SRS?

MEE couldn’t identify the recruiter, Ali Ali, who has 13 LinkedIn connections and no profile photo. However, SRS is headed by former CIA paramilitary officer Phil Reilly, who has served in Asia, Afghanistan and Iraq. 

Two former US officials told MEE that Reilly had won the trust of Israeli Prime Minister Benjamin Netanyahu and several Israeli businessmen close to him. His firm has long been the favourit to secure humanitarian aid into Gaza in a project that one Israeli businessman briefed on the plans said could amount to a contract worth "hundreds of millions of dollars".

SRS was one of the private military contractors responsible for securing Gaza’s Netzarim Corridor during a short-lived truce. Fighting in Gaza briefly stopped in January but resumed in March when Israel unilaterally resumed attacking the enclave.

According to a January Reuters report, US contractors were paid $1,100 a day to work in Gaza, with a $10,000 advance for veterans.

SRS’s work during the first ceasefire was paid for mainly by the US and Gulf states, one US official told MEE. The private military contractors' weapons and supplies are likely to be supplied by the US. One US official told MEE that the salary range exceeds what the former US security firm Blackwater once paid veterans.

SRS makes no secret of its connection to Gaza on LinkedIn. It posted a glowing article from ABC News in April, titled, “How a team of 'suburban dads' secured a key checkpoint in Gaza's 'death corridor'".

UN says no aid distributed in Gaza

SRS stepped up recruitment on LinkedIn just as the US was lobbying the UN and European states earlier in May to approve the Gaza Humanitarian Foundation, to oversee aid distribution. The foundation would largely supplant the UN’s role in distributing Gaza aid. It says it plans to be active by the end of May.

The SRS's job applications page reveals how Israel and the US are rapidly moving towards privatising and militarizing aid distribution in Gaza.

Another position SRS is actively hiring for is an imagery systems technician, who can analyze full-motion video. Israel says it plans to create “hubs” to distribute aid.

In the past, it has used checkpoints to separate Palestinian men and women. Earlier this month, the Israeli cabinet approved a plan that would require facial recognition technology to be applied to Palestinians before they receive any aid. It is seeking foreign funding for the plan.

This is what the coastal Rashida street in Gaza looked like before and after the ongoing war. pic.twitter.com/yc2lZYa1n7

— Sprinter Observer (@SprinterObserve) November 12, 2023

The operation has been slammed by aid groups across the aisle, and the UN says it will not take part in the foundation’s work. Israel announced on Monday that it would allow some humanitarian aid into the enclave.

The UN said on Tuesday that Israel had allowed four trucks with baby food to enter the enclave, and a few dozen other trucks with flour, medicine, and nutrition supplies. However, the UN has not been able to distribute the supplies.

"Israeli authorities are requiring us to offload supplies on the Palestinian side of Kerem Shalom crossing and reload them separately once they secure our team's access from inside the Gaza Strip,” UN spokesperson Stephane Dujarric said. "Today, one of our teams waited several hours for the Israeli green light to access the Kerem Shalom area and collect the nutrition supplies. Unfortunately, they were not able to bring those supplies into our warehouse," he said.

Humanitarian experts say Gaza is on the brink of mass starvation. UN humanitarian chief Tom Fletcher said on Tuesday that 14,000 babies could die in the next 48 hours if aid did not reach them in time.

Tyler Durden Wed, 05/21/2025 - 12:45

UnitedHealth Shares Drop After Report Alleges Secret Bonus Payments To Nursing Homes For Cutting Hospital Transfers

UnitedHealth Group shares dropped as much as 7.5% in premarket trading Wednesday in New York, following a Guardian investigation that revealed the health insurer shelled out "Premium Dividend" and "Shared Savings" bonuses to nursing homes that reduced hospital transfers for sick residents. 

The Guardian's investigation is based on thousands of confidential corporate and patient records obtained through sources, public records requests, and court filings, along with interviews with nearly two dozen current and former UnitedHealth and nursing home employees, as well as two whistleblower declarations submitted to Congress.

The report offers a new snapshot into UnitedHealth's daily operations at nearly 2,000 nursing homes across the country, where it manages Medicare Advantage coverage for more than 55,000 long-term residents. 

Here are some of the key findings from the report:

• UnitedHealth stationed in-house medical teams at nearly 2,000 nursing homes, incentivizing them to lower hospitalizations through financial rewards like "Premium Dividend" and "Shared Savings" payments tied to hospitalization rates.

• Internal records show UnitedHealth monitored nursing homes using "admits per thousand (APK)" metrics and set "budgets" for hospitalizations. Facilities with high APKs were denied bonuses.

• In multiple documented cases, patients were denied urgent hospital care, leading to serious harm, including permanent brain damage. Whistleblowers say these incidents were hidden or minimized.

• Nurse practitioners were pressured to push "Do Not Resuscitate" (DNR) orders, even when patients had previously expressed the desire for life-saving treatments.

• UnitedHealth also incentivized increased enrollment in its Institutional Special Needs Plans by offering large payments to nursing homes, which in some cases leaked confidential patient data to help sales teams directly solicit families—often bypassing consent rules.

The Guardian noted: 

In several cases identified by the Guardian, nursing home residents who needed immediate hospital care under the program failed to receive it, after interventions from UnitedHealth staffers. At least one lived with permanent brain damage following his delayed transfer, according to a confidential nursing home incident log, recordings and photo evidence.

A current UnitedHealth nurse practitioner, who recently submitted a congressional complaint regarding the nursing home program, stated:

"No one is truly investigating when a patient suffers harm. Absolutely no one.

"These incidents are hidden, downplayed and minimized. The sense is: 'Well, they're medically frail, and no one lives for ever.'"

A former national UnitedHealth executive said:

"APK drove everything. You gain profitability by denying care, and when profitability suffers for the shareholders, that's when people get crazy and do things that are not appropriate."

Two current and three former UnitedHealth nurse practitioners said that UnitedHealth managers pressured them to persuade Medicare Advantage members to change their "code status" to DNR, even when patients had clearly expressed a desire to receive all available life-saving treatments.

UnitedHealth responded to the Guardian's report, rejecting claims that its employees have prevented hospital transfers. 

The Guardian's report comes at a time of crisis for UnitedHealth. Last week, shares logged the worst weekly crash since 1998 after a Wall Street Journal report said the Department of Justice has been conducting a criminal investigation into the company's Medicare practices. In addition, UnitedHealth suspended its 2025 outlook, and its CEO abruptly exited. 

In the premarket session, shares fell as much as 7.5% after the Guardian's report. 

Only one Wall Street analyst—CFRA's Paige Meyer—had a "Sell" rating on UnitedHealth earlier this year, out of roughly 30 tracked by Bloomberg. Wall Street, it seems, was overly bullish on the insurer—now shares have imploded.

Tyler Durden Wed, 05/21/2025 - 12:15

US Senate Votes To Move Ahead With GENIUS Act; 'Legitimizing' Stablecoins For Global Institutional Adoption

The GENIUS Act moved through a procedural vote on Monday (66-32), and has just passed its latest hurdle (69-31) allowing Senate Republican leaders to bring the legislation to the floor for debate and a final vote, as soon as this week

A challenging amendment pricess awaits as the Senate bill, if passed, would need to be reconciled with a version approved by the House Financial Services Committee, and then both chambers of Congress must agree on a single bill before sending a final version to President Donald Trump for his signature.

"There are still a lot of moving pieces," said Jennifer Schulp, director of financial regulation studies at the Cato Institute, a libertarian think tank.

Republican Senator Cynthia Lummis, one of the bill’s key backers, said on May 15 that she thinks it’s a “fair target” to have the GENIUS Act passed by May 26 - Memorial Day in the US.

*  *  *

As CoinTelegraph's Zoltan Vardai detailed ahead of the vote, stablecoin adoption among institutions could surge as the United States Senate prepares to debate a key piece of legislation aimed at regulating the sector.

After failing to gain support from key Democrats on May 8, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act passed the US Senate in a 66–32 procedural vote on May 20 and is now heading to a debate on the Senate floor.

The bill seeks to set clear rules for stablecoin collateralization and mandate compliance with Anti-Money Laundering laws.

“This act doesn’t just regulate stablecoins, it legitimizes them,” said Andrei Grachev, managing partner at DWF Labs and Falcon Finance.

“It sets clear rules, and with clarity comes confidence. That’s what institutions have been waiting for,” Grachev told Cointelegraph during the Chain Reaction daily X spaces show on May 20, adding:

“Stablecoins aren’t a crypto experiment anymore. They’re a better form of money. Faster, simpler, and more transparent than fiat. It’s only a matter of time before they become the default.”

Source: Cointelegraph

Senate bill seen as path to unified digital system

The GENIUS Act may be the “first step” toward establishing a “unified digital financial system which is borderless, programmable and efficient,” Grachev said, adding:

“When the US moves on stablecoin policy, the world watches.”

Republican Senator Cynthia Lummis, a co-sponsor of the bill, also pointed to Memorial Day as a “fair target” for its potential passage.

Grachev said regulatory clarity alone will not drive institutional adoption. Products offering stable and predictable yield will also be necessary. Falcon Finance is currently developing a synthetic yield-bearing dollar product designed for this market, he noted.

Yield-bearing stablecoins issuance. Source: Pendle

Yield-bearing stablecoins now represent 4.5% of the total stablecoin market after rising to $11 billion in total circulation, Cointelegraph reported on May 21.

GENIUS Act regulatory gaps don’t address offshore stablecoin issuers

Despite broad support for the GENIUS Act, some critics say the legislation does not go far enough.

Vugar Usi Zade, the chief operating officer at Bitget exchange, told Cointelegraph that “the bill doesn’t fully address offshore stablecoin issuers like Tether, which continue to play an outsized role in global liquidity.”

He added that US-based issuers will now face “steeper costs,” likely accelerating consolidation across the market and favoring well-resourced players that can meet the new thresholds.

Still, Zade acknowledged that the legislation could bring greater “stability” to regulated offerings, depending on how it is ultimately worded and enforced.

Tyler Durden Wed, 05/21/2025 - 12:15

Bitcoin Surges To New Record High, 'Trumping' Gold Since Election

Bitcoin just surge to a new record high, $109,500, extending its recent post-pause recovery and up over 60% since President Trump was elected...

BTC ETF inflows continue to build...

...and we suspect there is more to come, if the recent surge in global liquidity is anything to go by...

The aggregate open interest in Bitcoin futures surged to a record high on May 20, raising questions about whether bearish positions are now at risk.

Since Trump's Liberation Day (and now amid the 'One Big Beautiful Bill'), while gold has rallied solidly, Bitcoin appears to have been the preferred position for global uncertainty (after testing down to pre-election levels)...

As Bitcoin Magazine's Oscar Zarraga Perez reports, a new report from River reveals that the United States dominates Bitcoin ownership globally, holding about 40% of all available Bitcoin. 

With 14.3% of its population owning Bitcoin, the U.S. outpaces Europe, Oceania, and Asia combined.

Corporate America also leads in Bitcoin holdings. Thirty-two U.S. public companies, with a combined market cap of $1.26 trillion, hold Bitcoin as a treasury asset. These firms account for 94.8% of all Bitcoin owned by publicly traded companies worldwide. Major holders include Strategy with 569,000 BTC, U.S. mining companies with 96,000 BTC, and others with 68,000 BTC, totaling 733,000 BTC in the U.S., compared to 40,000 BTC held elsewhere.

Since China’s ban on Bitcoin mining in 2021, the United States has become the global leader in Bitcoin mining, responsible for 38% of all new Bitcoin mined since then. The U.S. attracts miners thanks to its stable regulatory environment, access to deep and liquid capital markets, and abundant energy resources. These advantages have helped the U.S. increase its share of the global Bitcoin mining hashrate by over 500% since 2020, solidifying its position as the center of the industry.

Bitcoin is also emerging as America’s preferred reserve asset, overtaking gold. Over 49.6 million Americans are in favor of holding Bitcoin, compared to 36.7 million who still prefer gold.

The US government’s bitcoin advantage is greater than that of gold, where the US accounts for just 29.9% of the world’s central bank gold reserves. 

“Because there is a fixed supply of BTC, there is a strategic advantage to being among the first nations to create a strategic bitcoin reserve,” said the White House on March 7, 2025.

Politically, support for Bitcoin is gaining significant momentum across the U.S. government. As of now, 59% of U.S. Senators and 66% of House Representatives openly support pro-Bitcoin policies, signaling a notable shift in political attitudes and greater acceptance of digital assets as key components of America’s economic future.

The study highlights that Bitcoin ownership is highest among American males aged 31-35 and 41-45, with ownership rates ranging from 3% to 41% within these age groups. 

Politically, those identifying as “very liberal” or “neutral” are more likely to own Bitcoin than conservatives, though conservatives still make up a significant portion of holders.

Finally, as we detailed yesterday, global sovereigns have been 'quietly' gathering exposure to the cryptocurrency with StanChart's Geoff Kendrick targeting $500k by the end of Trump's term in office for the largest cryptro currency.

Tyler Durden Wed, 05/21/2025 - 11:10

WTI Erases Israel-Iran Spike As Crude & Gasoline Stocks See Unexpected Build

Oil prices are modestly higher ahead of this morning's official energy inventory and supply data, but have come dramatically back off the overnight spike highs driven by CNN headlines suggesting Israel is ready to strike Iranian nuclear enriuchment sites.

“Either the impact on the oil market in case of an attack is assumed to be low, or the probability for an attack is assumed to be low,” said Bjarne Schieldrop, chief commodities analyst at SEB AB. 

Wednesday’s gain “is not much when we are talking bombs in the Middle East major oil producing region.”

Overnight also saw API report another sizable crude inventory build, while products drewdown (again)...

API

• Crude +2.5mm

• Cushing -443k

• Gasoline -3.24mm

• Distillates -1.4mm

DOE

• Crude +1.33mm

• Cushing -457k

• Gasoline +816k - biggest build since January

• Distillates +579k

A smaller than expected crude build was offset by an unexpected build in Gasoline stocks according to the official DOE data...

Source: Bloomberg

Including a 843k barrel addition to SPR, total US crude stocks rose for the second week in a row...

Source: Bloomberg

US Crude production was up very modestly last week - hovering just below record highs - while the rig count continues to reject Trump's 'Drill, baby, drill' narrative...

Source: Bloomberg

Geopolitical concerns have for now overshadowed expectations of looser balances heading into the second half of the year, as OPEC and its allies bring back barrels to the market. 

Source: Bloomberg

US shale oil output hasn’t peaked and can still expand, but not if prices are near $50 a barrel, ConocoPhillips’ chief executive officer said Tuesday.

Meanwhile, Trump will not be best pleased if geopolitical tensions raise the price of oil and wreck his inflation-busting drill-baby-drill hopes of declining pump prices for the average American.

Tyler Durden Wed, 05/21/2025 - 10:39

Is Japan About To Hike Rates AND Restart Yield Curve Control?

By Elwin de Groot and Michael Every of Rabobank

Iran’s Khamenei said nuclear talks with US are unlikely to “lead to any outcome”… as US intel says Israel is preparing for a strike on Iran, seeing oil prices move higher. The Israeli press also says Iranian efforts to recruit Israeli agents have skyrocketed, Tehran trying to arrange high-profile assassinations inside Israel to mirror what Israel can do inside Iran, increasing the pressure further. That’s as President Trump is reportedly frustrated by Gaza war and wants PM Netanyahu to "wrap it up"; and the EU will review its association agreement with Israel, as their officials say diplomatic efforts stopped the EU from already halting the agreement; and the UK suspended trade talks with Jerusalem and attacked its ‘repellent’ extremism. Moreover, US Secretary of State Rubio said of Syria: “It is our assessment that, frankly, the transitional authority, given the challenges they’re facing, are maybe weeks —not many months— away from potential collapse and a full-scale civil war of epic proportions, basically the country splitting up,” which is justification for the US and EU removing sanctions on it. In short, the entire energy-rich region is in flux. And so is much else.

The IMF just asked the US to reduce its fiscal deficit as the Big Beautiful Bill will cut taxes and boost spending much further; and that’s as Reuters says the US ‘is preparing for a long war with China that could hit its bases and homeland’ and Trump is set to launch a "Golden Dome" missile defence system that will cost $175bn and almost certainly won’t be ready within his term of office, as promised. Trump reportedly also wants the UK to boost defense spending to 3% of GDP by 2029, so within the current parliament, increasing its fiscal deficit too.

Against that backdrop, the downgrade of the US by Moody’s last Friday may have not come as a huge surprise and its debt was already trading “as if” it no longer belonged to the AAA bucket. Still, the re-rating of US debt is having potential effects in corners of the market. Managers of Hong Kong’s Mandatory Provident Fund system are flagging they may be forced to sell their Treasury holdings, since the pension fund only allows them to invest more than 10% of their assets in Treasuries if the US has a AAA or equivalent rating from an approved rating agency. Japan’s Rating & Investment Information is the only approved agency left out there having the US at the highest rating level. The rating agency keeps the US’ rating on stable outlook and has indicated that the situation “hasn’t significantly changed” since it made its assessment in February.

But other scenarios could obviously play out. The US Congress is moving closer to endorsing Trump tax-cuts, leading to a significant increase in deficits and debt: with the IMF publicly calling for the US to reduce its deficit, such a scenario could lead to a gradual reduction in the share of Treasuries in various investment portfolios. Potentially, so could Trump considering an executive order to open US retirement plans to private equity, which would allow savers to access funds focused on “corporate buyouts and other high-octane deals” - so fewer US Treasuries(?)

Meanwhile, whereas European/German long-term yields are trading at levels that are still some 30-40bp lower than in early March --when the EU’s and Germany’s defence and infrastructure spending plans startled markets-- those in the US and Japan are trading close to or even higher than the levels seen in early March. A 20y bond auction in Japan saw the lowest demand since 2012 and this pushed the 30y Japanese yield to its highest level since its 1999 debut. It certainly doesn’t help when your own prime minister acknowledges the country’s fiscal situation is “extremely poor, and worse than Greece’s” – even if their intent is to signal opposition to fresh tax cuts financed by additional debt issuance.

Japan’s core inflation rate has come down from its peak levels of nearly 3% y/y in late-2023 to sit at just over 1.5%. That level, however, was only surpassed twice in the past thirty years: in 2014 and 1997. But in both instances the inflation spike was due to significant changes to the VAT system. If Japan has now entered (?) an episode of more ‘normal’ inflation, it could lead to more persistent upward pressures on (real) bond yields, which would raise interest costs.

And, like in the US and Europe, the central bank has been dialling down its bond purchases, which, next to weaker demand for bonds, could also be contributing to higher liquidity-risk premiums. Japan’s public debt ratio (214% in 2024) is the highest among developed economies. The BOJ still holds a staggering share (around 50%) of public debt on its balance sheet, but even if the central bank does not slow down its purchases, the ‘net’ amount of debt would still be in the 100%+ range and comparable to that of – indeed – Greece’s, back in 2007.

We want to avoid burning our fingers on the Japanese bond market – betting against it is commonly known as the widow-maker trade. But we ponder whether Japan could serve as an example for Europe or even, perhaps, the US – Japan, after all, has been the test case for many unconventional policies in recent (monetary) history.

First off, the country may be better placed than both of these peers to tackle bond market turbulence, and the impact of higher yields on governments’ financing costs. Only 12% of JGBs is owned by foreign parties. So, arguably, the government could introduce some form of wealth tax to claw back part of interest payments on its bonds. Note the similarities with the suggestions for a so-called Mar-a-Lago accord, in which the US could try to lessen its debt servicing costs by forcing its allies to term out their debt holdings at a below-market return, or by imposing some form of tax on foreign holders of Treasuries. The major difference is that Japan’s solutions could be less controversial, since domestic tax policies would suffice to achieve the desired outcome.

However, such a clawback only gets Japan so far. A wealth tax that offsets the higher debt servicing costs helps to contain the fiscal deficit and debt, but that does not provide the government with additional fiscal space to pursue its strategic goals, such as defence spending or reducing dependence on foreign inputs (note the similarities with the European situation here). Barring monetary support, more substantial tax increases or spending cuts in other areas would be required – and that could quickly erode support for the ruling party.

Alternatively, the BOJ could resume its government bond purchases. But this would arguably lead to higher inflation and would probably weaken the currency – at a time when the JPY is already under increased scrutiny of the US administration. Japanese finance minister Kato yesterday said that "[…] exchange rates should be set by markets, and that excessive volatility in currency moves has an adverse economic and financial impact." Weakness in the yen could undermine any trade agreement between the US and Japan. So, to mitigate this impact of quantitative easing, could the BOJ simultaneously raise its policy rates in an attempt to achieve a currency-neutral policy mix of higher rates and de facto yield curve control?

Meanwhile, in trade: China’s Xi stepped up calls for industrial self-sufficiency --so, no rebalancing then?-- and China said it will respond to US chip curbs; Malaysia is to press ahead with Huawei AI, testing the US position on that issue, as Nvidia’s CEO says US chip curbs on China are ‘a failure’; G7 countries are discussing tariffs on oversupplied, low-value Chinese products; the EU is considering a €2 de minimis charge on incoming Chinese packages; the EU is also expected to propose a quota for Russian gas, potentially offering companies a legal way to end their contracts; the US believes new sanctions on Russia may harm peace talks; India imposed restrictions targeting nearly 42% of inbound goods from Bangladesh; and Japan is taking a hardline position ahead of trade talks, demanding the US remove all reciprocal and sectoral tariffs on it.

So, yes, much is in flux.

Tyler Durden Wed, 05/21/2025 - 10:20

Republicans Race to Finalize 'Big Beautiful Bill' As Johnson Seeks Memorial Day Deadline

After weeks of turmoil and negotiations, House Republicans are inching closer to passing their sweeping domestic-policy package, anchored by a multi-trillion-dollar suite of tax cuts, as Speaker Mike Johnson races to finalize the legislation ahead of the Memorial Day recess.

ouse Speaker Mike Johnson, R-La., at the US Capitol on May 6. Graeme Sloan / Bloomberg via Getty Images file

Following a personal visit to Capitol Hill on Tuesday by President Donald Trump and a flurry of behind-the-scenes bargaining, House GOP leaders believe they are nearing a deal with key factions. The House Rules Committee convened late into the night and early morning hours Wednesday, preparing the reconciliation bill for floor action. The committee had only just concluded its first panel - which included the chairs and ranking members of the Oversight, Budget, Armed Services, and Financial Services Committees - shortly before 4:30 a.m. (and then returning to their coffins for a nap?).

The second panel will include top lawmakers from House Homeland Security, Judiciary, Natural Resources and Transportation and Infrastructure committees, while a third panel will include the chairs and ranking members from Agriculture, Energy and Commerce, Education and the Workforce & Ways and Means. 

In total, 537 amendments have been submitted to Rules - none yet from Democrats. Notably, GOP leadership has still not released its long-awaited manager’s amendment, which will incorporate many of the compromises Johnson negotiated to appease internal party divisions, including revisions to SALT, Medicaid work requirements, and clean-energy tax credits, Punchbowl News reports.

Despite the complexity, Johnson is moving aggressively. He hopes to pass a rule and hold a full floor vote as soon as today - a schedule driven by his desire to meet the Memorial Day deadline, avoid attendance issues later in the week, and capitalize on rare momentum.

The legislative sprint follows a dramatic shift in tone after Trump met Tuesday morning with warring GOP factions and urged unity. Several Republican holdouts publicly maintained opposition afterward, but six senior Republicans involved in the talks said many were privately seeking off-ramps - policy concessions that would let them support the bill while still claiming political victories.

As Just the News notes, a final push will require some conservatives to make a leap of faith, like Rep. August Pfluger (R-TX), the chairman of the House Republican Study Committee, is taking. 

"Look as a conservative, I want to save as much money as I can, and we have pushed for that in the Republican Study Committee," he told the outlet on Tuesday. "But the President was pretty clear that we've worked five or six months straight on this, and it is time to get it done.

"That doesn't mean that a guy like me doesn't want more. Yes, of course I do. But I also want to govern, which means you don't get 100% of everything you want every single time. You have to come back and do it again, and we will," he said during the John Solomon Reports podcast.

Currently included in the Bill...

Trump tax cuts; the largest in history with an average $5,000 decrease per household, and includes 'No Tax on Tips, Overtime or Social Security.'

Immigration and Border Security:

• “Big, Beautiful Deportations”: funding for 1 million deportations per year

• Completion of the border wall

• Expansion of border personnel - including 10,000 new ICE agents, 5,000 customs officers & 3,000 Border Patrol agents - and $10,000 bonuses for front-line border workers

Medicaid Reform:

• Remove 1.4 million illegal migrants from Medicaid

• Requires work for benefits starting January 2029

Spending Cuts and Fiscal Reform:

• $1.6 trillion in mandatory spending cuts - the largest deficit reduction in nearly 30 years - though the Penn Wharton Budget Model predicts deficits of nearly $3.3 trillion, even when accounting for "positive economic dynamics," while the Joint Committee on Taxation sees the House reconciliation bill increasing deficits by $3.8 trillion through 2034.

  • The White House Council of Economic Advisers projected that the bill would boost GDP by 4.2% to 5.2% in the short run — a staggering level of growth that goes far beyond the mainstream consensus, via Axios.

• Repeals all of Biden’s “Green New Scam” subsidies & ends electric vehicle mandates

Social and Cultural Measures:

• Ends taxpayer-funded sex reassignment procedures for minors

Infrastructure and Modernization:

• Major overhaul of air traffic control systems

Support for Families and Workers:

• Launch of "MAGA Accounts" for newborns (tax-advantaged savings)

• Increased child tax credit, strengthened paid family leave, and repeals IRS gig worker reporting rule (>$600 for Venmo/PayPal)

Support for Farmers:

• $10 billion+ in tax cuts & eliminates death tax to aid generational farm transfers

SALT

One of the most contentious sticking points has been the state and local tax deduction, or SALT. Republicans from high-tax states have demanded relief from the $10,000 cap implemented in 2017. After intense pressure, Johnson offered a revised framework: a $40,000 cap for households earning up to $500,000 (down from a Tuesday proposal for income up to $751,000), with the cap and income threshold escalating 1% annually for ten years. While it falls short of SALT advocates’ hopes - particularly in addressing the so-called marriage penalty - it’s more than many conservatives are comfortable with.

"This is purely a House play and designed to deal with the political challenge they have to get to 218," Senator John Thune (R-SD), a longtime opponent of expanding SALT, said in an interview Tuesday. "But, I mean, that seems like an incredibly generous offer."

Thune alluded to possible markups in Senate committees once the legislation arrives from the House. But that’ll be dictated by the House’s timing and what senators think of the proposal.

“I’m a regular order guy. I think you can improve the product,” Thune said. “But obviously, depending on what happens in the House and the timeline we have to work with, getting committees up and going and doing their thing takes a while - and how ready the product is for prime time… There are certain things the Senate wants to have its imprint on.” -Punchbowl

Meanwhile, to placate the House Freedom Caucus, Johnson has proposed accelerating the phase-out of clean-energy tax credits enacted under President Biden’s Inflation Reduction Act. Initially scheduled to begin after 2028, the new plan would start the phase-out in 2028, with a carveout for nuclear credits. Freedom Caucus Chair Andy Harris (R-Md.) signaled progress Tuesday evening, backing off prior demands to slash Medicaid funding and saying talks were “moving in the right direction.”

Still, not all conservatives are satisfied. Reps. Chip Roy (R-TX) and Thomas Massie (R-KY) are expected to vote no. Others are calling for the party to return to a two-bill strategy - a position rejected months ago by both House and Senate GOP leadership.

ROY just came out of confab with Johnson super sad. Says “we will see” if he still a “no” https://t.co/Xh3NuZULr5

— Erik Wasson (@elwasson) May 21, 2025

Despite those tensions, GOP leaders are betting on Trump’s endorsement and the pressure of a looming deadline to push the bill through. “Things don’t get better when you hold it out there,” one senior Republican said. Another added bluntly: “It’s easier to break up with someone from a basement over email. Harder to do it in person, face-to-face.”

Meanwhile, Democrats are preparing their messaging campaign. A memo from the House Majority Fund - a group aligned with Democratic leadership — advised lawmakers to focus on how the GOP legislation would raise prices for everyday Americans while benefiting the wealthy, rather than lean on technical deficit arguments or hyperbolic language.

The Congressional Budget Office (CBO) added fuel to the fire Tuesday night, estimating that the Republican bill would increase the deficit by $2.3 trillion over the next decade. The CBO projected automatic spending cuts to Medicare and other safety-net programs without congressional action and warned that the bill would boost the incomes of the wealthiest 10% of Americans while reducing incomes for the bottom 10%.

Rep. Brendan Boyle (D-PA), ranking member on the Budget Committee, called the legislation "absolutely devastating" for working Americans. Protesters gathered outside the Capitol on Wednesday morning, denouncing proposed cuts to Medicaid.

Despite the fierce opposition, House Republican leaders believe they are close. And if the manager’s amendment is released in time, Johnson may force the issue by calling a floor vote before lawmakers - including members of his own party - have had a full opportunity to digest the final terms.

For Johnson, the choice is strategic: act quickly or risk watching weeks of work fall apart under the weight of delay.

Tyler Durden Wed, 05/21/2025 - 10:05