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Trump ends tumultuous term under cloud, faces uncertain future

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Trump and his wife, Melania, will depart the South Lawn on the Marine One helicopter for Joint Base Andrews in suburban Maryland, where he will preside over a military-style sendoff before boarding Air Force One one last time to fly to Florida.

President Donald Trump leaves the presidency on Wednesday under a dark cloud of his own making, ending his single four-year term stained by two impeachments, deep political divisions and his handling of a pandemic that has caused 400,000 U.S. deaths.

Trump, 74, will bid farewell to the White House hours before President-elect Joe Biden is inaugurated. That will make him the first outgoing president since Andrew Johnson in 1869 to skip the Inauguration Day ceremony marking the formal transfer of power, in a final display of pique at his failure to win re-election.

Trump and his wife, Melania, will depart the South Lawn on the Marine One helicopter for Joint Base Andrews in suburban Maryland, where he will preside over a military-style sendoff before boarding Air Force One one last time to fly to Florida.

His arrival at his Mar-a-Lago club in Palm Beach is being timed to get him behind the wall of the resort before Trump’s term as president expires at noon.

Banned from Twitter after his supporters stormed the US Capitol on Jan. 6, Trump used an old-school method – an emailed press release – to distribute a farewell video on Tuesday in which he veered from his usual divisive rhetoric and sounded an upbeat message.

”Now more than ever, we must unify around our shared values and rise above the partisan rancor, and forge our common destiny,” he said. But he did not mention Biden, to whom he has not formally conceded.

Trump has a long way to go to rebuild an image left in tatters by his stormy presidency, particularly the final months. Trump now has a unique place in history – as the only president ever impeached twice.

Also Read: We must unify around our shared values, rise above partisan rancour: Trump in farewell message

Even after Trump leaves office, the Senate is still to hold a trial on the impeachment charge brought by the Democratic-led House of Representatives that he incited an insurrection. Its outcome could determine whether he will be disqualified from running again for president.

“He is going to be as an asterisk president, a one-termer who did more damage than good,” said presidential historian Douglas Brinkley.

Trump maintained to his last days in office that the Nov. 3 election was stolen from him, according to sources familiar with the situation.

Courts have rejected his campaign’s unsubstantiated claims of widespread voter fraud and his vice president, Mike Pence, led the US Congress in certifying Biden’s victory over Trump’s objections after Trump-inspired protesters had been cleared from the Capitol following a deadly assault.

The Washington that Trump leaves behind is being guarded by 25,000 National Guard troops, while the National Mall, traditionally thronged with spectators on Inauguration Day, is closed to the public because of threats of violence from groups that attacked the Capitol.

While preoccupied with fighting the election results, Trump did not put a dent in the spiraling death toll from the coronavirus, which crossed the grim 400,000 mark in the United States on Tuesday, the most of any country. Pandemic-related shutdowns and restrictions have also cost millions of Americans their jobs.

TARNISHED BRAND

Trump, a former real estate tycoon who owns 17 golf resorts around the world, faces a gigantic task rebuilding his tarnished brand.

The New York Times reported that many of his resorts have been losing millions of dollars and that hundreds of millions in debt must be repaid within a few years.

Trump must also decide how to stay involved in politics as he has said he will do. He has talked of using a super PAC (political action committee) for supporting candidates who try to oust Republicans who he believes have crossed him politically.

But whether he can maintain his grip on the Republican Party will remain to be seen.

Also Read: Trump planning to start a new political party, says report

“I would predict in the not-too-distant future that American political candidates will be more motivated to show that they are unlike Trump than candidates after 1974 were to show that they were unlike (Richard) Nixon,” said presidential historian Michael Beschloss. Nixon resigned in 1974 over the Watergate scandal.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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YouTube bans Trump for another week over inauguration violence concerns

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

In a video uploaded earlier on Tuesday to the White House’s YouTube channel, Trump decried the ”shutting down” of debate. ”In America, we don’t insist on absolute conformity or enforce rigid orthodoxies and punitive speech codes, we just don’t do that,” he said.

YouTube said on Tuesday it was extending a one-week ban on outgoing US President Donald Trump uploading videos or live-streaming to his channel for at least an additional seven days. Alphabet Inc’s video streaming platform banned Trump on Jan. 12 for a minimum of one week for violating its policy against inciting violence after his supporters stormed the US Capitol as Congress began to certify Biden’s victory on Jan. 6.

On Tuesday, YouTube said it was extending the suspension ”in light of concerns about the ongoing potential for violence.” Trump is scheduled to vacate the White House on Wednesday as President-elect Joe Biden takes office.

In a video uploaded earlier on Tuesday to the White House’s YouTube channel, Trump decried the ”shutting down” of debate. ”In America, we don’t insist on absolute conformity or enforce rigid orthodoxies and punitive speech codes, we just don’t do that,” he said.

As Trump used social media to falsely challenge the results of the Nov. 3 election, his supporters followed with violent rhetoric on the services and planned openly for the Jan. 6 gatherings, according to researchers and public postings, prompting criticism of the companies for failing to take action in advance.

Activists have threatened to organize a boycott of YouTube advertising if it does not ban Trump permanently, as Twitter Inc has done. Facebook has blocked his accounts indefinitely.

Also Read: Joe Biden to deliver forward-looking inaugural speech built around the theme of unity

Alphabet and Google CEO Sundar Pichai told Reuters last week that YouTube is treating Trump the same as any other user and will not terminate his account unless he violates the service’s policies three times in 90 days.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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We must unify around our shared values, rise above partisan rancour: Trump in farewell message

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Trump, in a pre-recorded video message released by the White House on Tuesday, said to serve as the President has been an honour beyond description. Thank you for this extraordinary privilege. And that’s what it is — a great privilege and a great honour, he said.

Praying for the success of Joe Biden in keeping America safe and prosperous and extending his best wishes, outgoing US President Donald Trump in his farewell video message said that now more than ever, Americans must unify around their shared values and rise above partisan rancour to forge their common destiny.

Trump, in a pre-recorded video message released by the White House on Tuesday, said to serve as the President has been an honour beyond description. Thank you for this extraordinary privilege. And that’s what it is — a great privilege and a great honour, he said.

This week, we inaugurate a new administration and pray for its success in keeping America safe and prosperous. We extend our best wishes, and we also want them to have luck — a very important word, Trump said on the eve of his departure from the White House for his Mar-a-Lago resort in Florida. Wednesday afternoon, he would be succeeded by Joe Bide as the 46th President of the United States. Trump has announced that he will not attend the inauguration of his successor. Indian-origin Kamala Harris would be sworn in as the Vice President of the US. Outgoing Vice President Mike Pence would be present during the inaugural ceremony at the Capitol Hill, facing the majestic National Mall.

In his video that lasted a little less than 20 minutes, Trump addressed the storming of the US Capitol by his supporters on January 6, which is considered as one of the darkest days in the history of American democracy and sought unity from his fellow Americans. All Americans were horrified by the assault on our Capitol. Political violence is an attack on everything we cherish as Americans. It can never be tolerated. Now, more than ever, we must unify around our shared values and rise above the partisan rancour, and forge our common destiny, Trump said.

Listing out some of the key accomplishments of the US government from January 20, 2017 to January 20, 2021, Trump said his administration achieved more than anyone thought possible. Nobody thought we could even come close, he said as he referred to the largest package of tax cuts, slapping tariffs on China, achieving energy independence and development of a COVID-19 vaccine in a record short span of time. We restored American strength at home and American leadership abroad. The world respects us again. Please don’t lose that respect, Trump said, adding that his administration revitalized US alliances and rallied the nations of the world to stand up to China like never before.

He further said as a result of ”our bold diplomacy and principled realism”, the US achieved a series of historic peace deals in the Middle East. ”Nobody believed it could happen. The Abraham Accords opened the doors to a future of peace and harmony, not violence and bloodshed. It is the dawn of a new Middle East, and we are bringing our soldiers home, he said. He also asserted that he was ”especially proud to be the first President in decades who has started no new wars.

Also Read: Joe Biden to deliver forward-looking inaugural speech built around the theme of unity

Trump, 74, said as he leaves the White House after four years, he has been reflecting on the dangers that threaten the priceless inheritance all Americans share. As the world’s most powerful nation, America faces constant threats and challenges from abroad. But the greatest danger we face is a loss of confidence in ourselves, a loss of confidence in our national greatness. A nation is only as strong as its spirit. We are only as dynamic as our pride. We are only as vibrant as the faith that beats in the hearts of our people, he said. Trump said the key to national greatness lies in sustaining and instilling the shared national identity. That means focusing on what Americans have in common — the heritage they all share.

At the centre of this heritage is also a robust belief in free expression, free speech, and open debate. Only if we forget who we are, and how we got here, could we ever allow political censorship and blacklisting to take place in America. It’s not even thinkable. Shutting down free and open debate violates our core values and most enduring traditions, he said. Trump, in the aftermath of the January 6 riot at the US Capitol, has been banned by the majority of the social media platforms including Twitter, Facebook, Instagram and YouTube. He has described this as an assault on free speech.

In America, we don’t insist on absolute conformity or enforce rigid orthodoxies and punitive speech codes. We just don’t do that. America is not a timid nation of tame souls who need to be sheltered and protected from those with whom we disagree. That’s not who we are. It will never be who we are, he said on Tuesday on the eve of his departure. Trump in his farewell speech indicated that he might be out of the White House, but he will continue to have an active public life. Now, as I prepare to hand power over to a new administration at noon on Wednesday, I want you to know that the movement we started is only just beginning. There’s never been anything like it. The belief that a nation must serve its citizens will not dwindle but instead only grow stronger by the day, Trump said.

I go from this majestic place with a loyal and joyful heart, an optimistic spirit, and a supreme confidence that for our country and for our children, the best is yet to come, he said.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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US President-elect Joe Biden to propose 8-year citizenship path for immigrants

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The legislation puts Biden on track to deliver on a major campaign promise important to Latino voters and other immigrant communities after four years of President Donald Trump’s restrictive policies and mass deportations.

President-elect Joe Biden plans to unveil a sweeping immigration bill on Day One of his administration, hoping to provide an eight-year path to citizenship for an estimated 11 million people living in the US without legal status, a massive reversal from the Trump administration’s harsh immigration policies.

The legislation puts Biden on track to deliver on a major campaign promise important to Latino voters and other immigrant communities after four years of President Donald Trump’s restrictive policies and mass deportations. It provides one of the fastest pathways to citizenship for those living without legal status of any measure in recent years, but it fails to include the traditional trade-off of enhanced border security favored by many Republicans, making passage in a narrowly divided Congress in doubt.

Expected to run hundreds of pages, the bill is set to be introduced after Biden takes the oath of office Wednesday, according to a person familiar with the legislation and granted anonymity to discuss it.

As a candidate, Biden called Trump’s actions on immigration an unrelenting assault on American values and said he would undo the damage while continuing to maintain border enforcement.

Also Read: Trump lifts travel restrictions on Europe and Brazil

Under the legislation, those living in the US as of Jan. 1, 2021, without legal status would have a five-year path to temporary legal status, or a green card, if they pass background checks, pay taxes and fulfill other basic requirements. From there, it’s a three-year path to naturalization, if they decide to pursue citizenship.

For some immigrants, the process would be quicker. So-called Dreamers, the young people who arrived in the US illegally as children, as well as agricultural workers and people under temporary protective status could qualify more immediately for green cards if they are working, are in school or meet other requirements.

The bill is not as comprehensive as the last major immigration overhaul proposed when Biden was vice president during the Obama administration. For example, it does not include a robust border security element but rather calls for coming up with strategies. Nor does it create any new guest worker or other visa programs.

It does address some of the root causes of migration from Central America to the United States and provides grants for workforce development and English language learning.

Biden is expected to take swift executive actions to reverse other Trump immigration actions, including an end to the prohibition on arrivals from several predominantly Muslim countries.

During the Democratic primary, Biden consistently named immigration action as one of his day one priorities, pointing to the range of executive powers he could invoke to reverse Trump’s policies.

Biden allies and even some Republicans have identified immigration as a major issue where the new administration could find common ground with Senate Republican Leader Mitch McConnell and enough other GOP senators to avoid the stalemate that has vexed administrations of both parties for decades.

That kind of major win even if it involves compromise could be critical as Biden looks for legislative victories in a closely divided Congress, where Republicans are certain to oppose other Biden priorities that involve rolling back some of the GOPs 2017 tax cuts and increasing federal spending.

As a candidate, Biden went so far as to say the Obama administration went too far in its aggressive deportations.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Trump lifts travel restrictions on Europe and Brazil

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Trump said that the European Union, Britain, Ireland and Brazil will cooperate with the US in the implementation of CDC’s January 12, 2021, order and that tests administered there will yield accurate results. However, the same cannot be said of China and Iran.

Outgoing US President Donald Trump on Monday issued an executive order to lift travel restrictions on European countries and Brazil which his administration had imposed in view of the coronavirus pandemic. Travel restrictions on several other countries including China and Iran remain in place.

In an executive order, Trump said he is removing the restrictions applicable to the European Union, the United Kingdom, the Republic of Ireland, and Brazil, while leaving in place the restrictions applicable to China and Iran. A decision in this regard, he said, is being taken after the January 12 directive of the Centres for Disease Control and Prevention (CDC) requiring proof of a negative COVID-19 test or documentation of having recovered from COVID-19 for all air passengers arriving from a foreign country to the United States.

Trump said that the European Union, Britain, Ireland and Brazil will cooperate with the US in the implementation of CDC’s January 12, 2021, order and that tests administered there will yield accurate results. However, the same cannot be said of China and Iran. Those jurisdictions’ responses to the pandemic, their lack of transparency, and their lack of cooperation with the United States thus far in combatting the pandemic, cast doubt on their cooperation in implementing CDC’s January 12, 2021, order, Trump said.

The previous travel restrictions were announced on March 14 and May 24 of last year.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Biden to unveil coronavirus vaccine distribution plan as cases soar

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Biden has promised to take more serious action to curb the virus than his predecessor, President Donald Trump, and get 100 million vaccine shots into the arms of Americans during his first 100 days in office.

President-elect Joe Biden will on Friday outline his plan to ramp up vaccinations against COVID-19 as he prepares to take office amid soaring infection rates and an early rollout by the Trump administration he called ”a dismal failure.”

Biden has promised to take more serious action to curb the virus than his predecessor, President Donald Trump, and get 100 million vaccine shots into the arms of Americans during his first 100 days in office.

”The vaccines offer so much hope … but the vaccine rollout in the United States has been a dismal failure thus far,” Biden said in remarks late on Thursday as he unveiled a $1.9 trillion stimulus plan to tackle the virus and revive the pandemic-hit economy.

The Democrat, who takes office on Wednesday, is expected to set out in more detail his plan to stem the coronavirus that has killed more than 385,000 people in the United States and infected nearly 7% of the population. He will set out the plan on Friday afternoon near his home in Wilmington, Delaware.

In announcing his stimulus proposal, which includes USD 20 billion for vaccine distribution as well as USD 50 billion for coronavirus testing, Biden pledged to ”move heaven and earth” to vaccinate more Americans.

”This will be one of the most challenging operational efforts we’ve ever undertaken as a nation,” Biden said.

The Trump administration had aimed to give vaccine doses to 20 million Americans by the end of 2020 but fell far short of that target.

Only 11.1 million coronavirus shots had been administered as of Thursday out of more than 30 million doses distributed to states, according to data from the US Centers for Disease Control and Prevention.

Federal officials largely left states to manage distribution, resulting in big differences in vaccination rates even as daily deaths hit new records.

The Trump administration said this week it was releasing millions of COVID-19 vaccine doses it had been holding back for second shots and urged states to offer them to all Americans over age 65 or with chronic health conditions in an effort to speed up distribution. The administration says it expects to reach 1 million shots a day by the end of next week.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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President-elect Joe Biden unveils plan to pump $1.9 trillion into pandemic-hit economy

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Biden’s plan is meant to kick off his time in the office with a large bill that sets his short-term agenda into motion quickly: helping the economy and getting a handle on a virus that has killed more than 385,000 people in the United States as of Thursday.

President-elect Joe Biden unveiled a USD 1.9 trillion stimulus package proposal on Thursday designed to jump-start the economy and speed up the US response to the coronavirus pandemic. Biden campaigned last year on a promise to take the pandemic more seriously than President Donald Trump, and the package aims to put that pledge into action with an influx of resources for the coronavirus response and economic recovery.

”It’s not hard to see that we’re in the middle of a once-in-several-generations economic crisis with a once-in-several-generations public health crisis. A crisis of deep human suffering is in plain sight and there’s no time to waste,” Biden said in a prime-time address on Thursday evening. ”We have to act and we have to act now.”

Details of the aid package were released by Biden’s transition team earlier on Thursday. It includes USD 415 billion to bolster the response to the virus and the rollout of COVID-19 vaccines, some USD 1 trillion in direct relief to households, and roughly USD 440 billion for small businesses and communities particularly hard hit by the pandemic.

Stimulus payment checks would be issued for USD 1,400 – topping up the USD 600 checks issued under the last congressional stimulus legislation. Supplemental unemployment insurance would also increase to USD 400 a week from USD 300 a week now and would be extended to September.

Biden’s plan is meant to kick off his time in the office with a large bill that sets his short-term agenda into motion quickly: helping the economy and getting a handle on a virus that has killed more than 385,000 people in the United States as of Thursday.

It also provides a sharp contrast with Trump, who spent the last months of his administration seeking to undermine Biden’s election victory rather than focusing on additional coronavirus relief. Trump, who leaves office on Wednesday, did support USD 2,000 payments to Americans, however.
Many Republicans in Congress balked at the price tag for such payments, and Biden will face similar hurdles with his proposals, though he will be helped by the fact that his fellow Democrats will control both the House and the Senate.
The incoming president will seek to pass the legislation even as his predecessor faces an impeachment trial.

The Democratic-led House of Representatives voted to impeach Trump on Wednesday, making him the first president in US history to be impeached twice. Ten of his fellow Republicans joined Democrats to charge him with inciting an insurrection in last week’s deadly rampage at the Capitol.
The impeachment proceedings threaten to hang over the beginning of Biden’s term, and Biden has encouraged lawmakers to handle the trial while also moving forward with his agenda.

PRECARIOUS MOMENT

Transition officials said Biden’s plan will be a rescue package that will be followed up with another recovery package in the coming weeks. ”We’re at a very precarious moment for our economy,” one of the officials said. The plan would extend moratoriums on foreclosures and evictions until September and include funding for rental and utility assistance.

The president-elect will also call on Congress to increase the minimum wage to USD 15 an hour, and the package will include assistance to fight hunger.
The coronavirus relief-related funds will go toward a national vaccine program, testing, investments for workers to do vaccine outreach and contact tracing, and money for states.

The Democratic president-elect said last week the stimulus package would be ”in the trillions of dollars” and argued that more spending early on would reduce the long-term economic damage from the shutdowns spurred by the pandemic. He also said there would be ”billions of dollars” to speed up vaccine distribution, along with money to help reopen schools and for state and local governments to avoid laying off teachers, police officers and health workers.

Pandemic-related shutdowns and restrictions have cost millions of US jobs.
The Biden plan – if enacted – would buy more time for the economy to bridge the period until the distribution of vaccines allows for a wider resumption of economic activity.

US equity index futures opened higher for the overnight session after details of Biden’s plan were reported, signalling Wall Street was tracking to open higher on Friday.

”It’s one piece in the overall puzzle, it bridges the gap to getting restaurant workers, airline workers and other employees back to work,” said Jake Dollarhide, chief executive at Longbow Asset Management in Tulsa, Oklahoma. ”Once we had the outcome of the Georgia runoff election, you knew the stimulus was going to happen.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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US House Speaker Nancy Pelosi names impeachment managers for trial

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The team includes three women, four people of colour and lawmakers from states stretching from Rhode Island to California. Rep. Jamie Raskin will be lead manager.

Speaker Nancy Pelosi has named a Maryland Democrat grieving his son’s recent death as leader of the nine House Democrats who would prosecute US President Donald Trump during his expected Senate impeachment trial.

The team includes three women, four people of colour and lawmakers from states stretching from Rhode Island to California. Rep. Jamie Raskin will be lead manager.

The 58-year-old has often been an energetic presence during floor debates and taught constitutional law for 25 years. His 25-year-old son died of suicide on New Year’s Eve. Other managers will be Reps. Diana DeGette of Colorado, David Cicilline of Rhode Island; Joaquin Castro of Texas, Eric Swalwell of California, Ted Lieu of California, Joe Neguse of Colorado and Madeleine Dean of Pennsylvania and Stacey Plaskett, the Democratic delegate from the Virgin Islands.

Also ReadUS Vice President Pence refuses to invoke 25th Amendment to remove Trump from office

Trump is being charged with incitement of insurrection over the attack at the Capitol last week. Democrats plan to push an impeachment resolution through the House on Wednesday, with modest GOP support.

Also Read: Explainer: Can lawmakers use impeachment to bar Trump from holding office again?

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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US Vice President Pence refuses to invoke 25th Amendment to remove Trump from office

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Pelosi and House Democrats had pressed Pence and the Cabinet to remove Trump from office in the aftermath of the January 6 breach of the US Capitol by thousands of the president’s loyalists.

United States Vice President Mike Pence has refused to invoke the 25th Amendment to the American Constitution to remove President Donald Trump from office. ”Under our Constitution, the 25th Amendment is not a means of punishment or usurpation. Invoking the 25th Amendment in such a manner would set a terrible precedent,” Pence said in a letter to House Speaker Nancy Pelosi.

Pelosi and House Democrats had pressed Pence and the Cabinet to remove Trump from office in the aftermath of the January 6 breach of the US Capitol by thousands of the president’s loyalists. ”As you know full well, the 25th Amendment was designed to address Presidential incapacity or disability,” Pence said in the letter, a copy of which was released by the White House on Tuesday night.

”Just a few months ago, when you introduced legislation to create a 25th Amendment Commission, you said, ‘(a) President’s fitness for office must be determined by science and facts.’ You said then that we must be ’very respectful of not making a judgment on the basis of a comment or behaviour that we don’t like, but based on a medical decision.’ Madam Speaker, you were right,” he wrote. Pence said that after the horrific events of the past week, the administration’s energy is directed towards ensuring an orderly transition.

”In the midst of a global pandemic, economic hardship for millions of Americans, and the tragic events of January 6th, now is the time for Americans to come together, now is the time to heal,” Pence said. ”I urge you and every member of Congress to avoid actions that would further divide and inflame the passions of the moment. Work with us to lower the temperature and unite our country as we prepare to inaugurate President-elect Joe Biden as the next President of the United States. I pledge to you that I will continue to do my part to work in good faith with the incoming administration to ensure an orderly transition of power,” the vice president wrote.

Pence further said every American was shocked and saddened by the attack on the nation’s Capitol last week. ”I am grateful for the leadership that you and other congressional leaders provided in reconvening Congress to complete the people’s business on the very same day. It was a moment that demonstrated to the American people the unity that is still possible in Congress when it is needed most,” he said.

Also Read: Explainer: Can lawmakers use impeachment to bar Trump from holding office again?

”But now, with just eight days left in the President’s term, you and the Democratic Caucus are demanding that the Cabinet and I invoke the 25th Amendment. I do not believe that such a course of action is in the best interest of our Nation or consistent with our Constitution,” Pence said. ”Last week, I did not yield to pressure to exert power beyond my constitutional authority to determine the outcome of the election, and I will not now yield to efforts in the House of Representatives to play political games at a time so serious in the life of our nation,” he added.

With Pence declining to invoke the 25th Amendment, the decks are now clear for House Democrats to vote on impeachment of Trump on Wednesday. Under the 25h Amendment, the vice president can hold a meeting of the Cabinet which can vote that the President is not fit to hold the office.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Explainer: Can lawmakers use impeachment to bar Trump from holding office again?

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

A misconception about impeachment is that it refers to the removal of a president from office. In fact, impeachment refers only to the House of Representatives, the lower chamber of Congress, bringing charges that a president engaged in “high crimes or misdemeanors.”

The US House of Representatives is expected to impeach President Donald Trump as soon as Wednesday, accusing him of inciting insurrection ahead of last week’s storming of the Capitol. The following is a primer on what a second impeachment proceeding of Trump would look like and how lawmakers could block Trump from running for president in 2024.

How does impeachment work?

A misconception about impeachment is that it refers to the removal of a president from office. In fact, impeachment refers only to the House of Representatives, the lower chamber of Congress, bringing charges that a president engaged in “high crimes or misdemeanors.”

If a simple majority of the House’s 435 members approve bringing charges, known as “articles of impeachment,” the process moves to the Senate, the upper chamber, which holds a trial. The Constitution requires a two-thirds vote of the Senate to convict and remove a president.

House Democrats have accused Trump of inciting the ”lawless action” that took place at the Capitol on Jan. 6. Trump on Tuesday told reporters that his speech to protesters before the Capitol was stormed was ”totally appropriate.”

When will the Senate hold a trial?

The top Senate Republican, Mitch McConnell, has said that because the Senate is in recess, the earliest a trial could begin is Jan. 20, the day of Biden’s inauguration ceremony. To start sooner, all 100 senators would need to vote in favor of doing so.

Senate Democratic Leader Chuck Schumer is exploring using emergency authority to reconvene the Senate before then, a senior Democratic aide said on Monday. Such a move would require McConnell’s approval.

Impeachment experts said the Senate is free to set its own rules and could hold a trial in a single day if it wanted to.

Why have an impeachment trial if Trump is already gone?

Impeachment could be used to remove Trump from office and to disqualify 83him from holding political office in the future.

Two historical precedents, both involving federal judges, make clear that the Senate could also vote to disqualify the president from holding office in the future, with only a simple majority needed.

Paul Campos, a professor of constitutional law at the University of Colorado, said that even if the Senate does not convict the president, senators could hold a second, separate vote to prevent him from future office.

That would mean Democrats, who will take control of the Senate later in January, could bar Trump from running for president in 2024 even without the support of Republican senators.

Trump could, however, try to challenge such a determination in court, Campos said. The Supreme Court in 1992 said it would not second-guess the Senate’s decisions about how to handle impeachment proceedings.

”The Senate has great latitude in deciding how it wants to conduct a trial,” Campos said.

Other legal experts, however, said the Senate could only prevent Trump from holding office if it first votes to convict him in the impeachment trial.

Lawmakers could also declare that Trump engaged in ”insurrection or rebellion” under the 14th Amendment to prevent him from running again. This would require a majority in both the House of Representatives and the Senate.

Two-thirds of each chamber can subsequently vote to lift the ban.

Has a US president ever been impeached twice?

No, but legal experts said it is clearly constitutional for Congress to do so.

Trump was impeached by the Democratic-led House in December 2019 on charges of abuse of power and obstruction of Congress over his dealings with Ukraine about political rival Joe Biden, now the president-elect. Trump was acquitted by the Republican-led Senate in February 2020.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?