Trump Clearly Has No Problem with Debt and Deficits
A self-proclaimed “king of debt,” President Trump has produced a budget that promises red ink as far as the eye can see. With last year's $1.5 trillion tax cut reducing revenues, the White House gave up even trying to pretend that its budget would balance anytime soon, and even the rosy economic projections contained in the budget couldn’t produce enough revenues, however fanciful, to cover the shortfall.
The Trump budget spends as much over 10 years as any budget produced by President Barack Obama, according to Jim Tankersley of The New York Times. And it projects total deficits of more than $7 trillion over the next decade — "a number that could double if the administration turns out to be overestimating economic growth and if the $3 trillion in spending cuts the White House has floated do not materialize in Congress,” Tankersley says.
Trump — who once promised to both balance the budget and pay down the national debt — isn’t the only one throwing off the shackles of fiscal restraint. Republicans as a whole appear to be embracing a new set of economic preferences defined by lower taxes and higher spending, in what Bloomberg describes as a “striking turnabout” in attitudes toward deficits and the national debt.
But some conservatives tell Tankersley that the GOP's core beliefs on spending and debt remain intact — and that spending on Social Security and Medicare, the primary drivers of the national debt, are all that matters when it comes to implementing fiscal restraint.
“They know that right now, a fundamental reform of entitlements won’t happen," John H. Cochrane, an economist at Stanford University’s Hoover Institution, tells Tankersley. "So, they have avoided weekly chaos and gotten needed military spending through by opening the spending bill, and they got an important reduction in growth-distorting marginal corporate rates through by accepting a bit more deficits. They know that can’t be the end of the story.”
Democrats, of course, have warned that the next chapter in the tale will involve big cuts to Social Security and Medicare. Even before we get there, though, Tankersley questions whether the GOP approach stands up to scrutiny: "This is a bit like saying, only regular exercise will keep America from having a fatal heart attack, so, you know, it's ok to eat a few more hamburgers now."
The Best and Worst States for Student Debt
Where you go to college and what major you pick can have huge financial consequences, but where you live after graduating can also have a big impact on how much your diploma is worth — and how well you can handle your student debt.
How likely are you to land a good paying job? How high will your living expenses be? The answers to those questions and others like them go a long way to determining how burdensome those monthly student loans payments are.
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To ensure your loan doesn’t break you, experts suggest that your payment should not exceed 8 to 10 percent of your monthly income.
Unsurprisingly, the personal finance website WalletHub says, “Student-loan borrowers will fare better in states that produce a combination of lower college-related debt levels, stronger economies and higher incomes.”
To find those states, WalletHub looked at seven metrics, with special emphasis given to student debt as a percentage of average income, the local unemployment rate for people aged 25 to 34 and the percentage of borrowers aged 50 or older. Here are the 10 best and worst states for student debt. You can click on your state on the map below to see where it ranks.
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10 Best States for Student Debt
- Utah
- Wyoming
- North Dakota
- Washington
- Nebraska
- Virginia
- Wisconsin
- Minnesota
- Colorado
- South Dakota
10 Worst States for Student Debt
- Mississippi
- Rhode Island
- Connecticut
- Maine
- Georgia
- South Carolina
- New York
- Alabama
- West Virginia
- Oregon
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Why We’re Wasting Billions on Teacher Development
School districts spend an average $18,000 per year on teacher development, and teachers devote about 10 percent of their time to professional learning, but a new report finds that such programs may not be producing any measurable results.
The report, released today by TNTP, a nonprofit aimed at addressing educational equality, finds even with development programs, teachers do not show much improvement year over year, and the performance for the vast majority (70 percent) remained constant or declined over the past two to three years.
The report’s authors believe the lack of improvement stems from low expectations for teacher development and performance, and they suggest that schools need to rethink completely the ways that they measure teacher performance and the way they conduct student development.
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The study evaluated information on more than 10,000 teachers at three large school districts and a charter network covering nearly 400,000 students.
The authors report that teachers who do show improvement do not appear to be the result of deliberate, systemic efforts, and show no clear patterns that could improve development for others. “The absence of common threads challenges us to confront the true nature of the problem,” they write. “That as much as we wish we knew how to help all teachers improve, we do not.”
Rather than offer specific solutions, the authors suggest that schools redefine professional development, re-evaluate professional learning programs, and reinvent the ways they support teachers.
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Happy Watermelon Day! 16 Sweet, Juicy Facts You Didn’t Know
Frida Kahlo painted them and poets have celebrated them. In his “Ode to the Watermelon,” Pablo Neruda described it as “a fruit from the thirst-tree” and “the green whale of the summer.” He wrote: “its hemispheres open/showing a flag/green, white, red,/ that dissolves into/wild rivers, sugar, delight!” Abundant in summer, watermelons are by their very nature sweet and heavy, plus they’re full of vitamins: A, B6, and C. Aug. 3 is National Watermelon Day. We celebrate it here with 16 fun facts.
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- Watermelons are 92 percent water.
- The word “watermelon” first appeared in English dictionaries in 1615, according to John Mariani’s The Dictionary of American Food and Drink.
- Watermelons are related to pumpkins, as well as cucumbers and squash.
- The world’s largest watermelon was grown by Lloyd Bright of Arkadelphia, Arkansas in 2005 and weighed 268.8 pounds, according to the Guinness Book of World Records.
- Watermelons originated in southern Africa.
- They appear in Egyptian hieroglyphics nearly 5,000 years ago. Watermelon seeds were found in the tomb of King Tut.
- Early explorers carried watermelons on long trips as a source of water, like canteens.
- Watermelons are both fruits and vegetables.
- China is the largest producer of watermelons in the world today, followed by Turkey and Iran.
- The U.S. currently ranks fifth in watermelon production worldwide. Georgia, Florida, Texas, California and Arizona are the states that grow the most watermelon.
- On April 17, 2007, the Oklahoma State Senate passed a bill declaring watermelon as the official state vegetable.
- Over 1,200 varieties of watermelon are grown in 100 countries across the world.
- Watermelons were introduced to the New World by European colonists and African slaves. Spanish settlers started growing watermelon in Florida in 1576.
- One cup of watermelon has more lycopene, a pigment with antioxidant effects, than a large fresh tomato.
- You can eat the seeds. And the rind. Here’s a recipe for pickled watermelon rind.
- Are your muscles feeling sore? Have some watermelon before your next workout. The juice contains L-citrulline, which the body converts to L-arginine, an amino acid that helps relax blood vessels and improves circulation.
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Why Believing Donald Trump Will Be the GOP Nominee Is Delusional
Despite his commanding lead at this early stage among GOP candidates, the 2016 nomination is anyone’s game.
It is risky to put too much stock in the latest findings, including the NBC/Wall Street Journal poll released Sunday. That’s because the national telephone survey of 1,000 adults included only 252 registered voters who said they would vote for a Republican, and the poll has a margin of error of plus or minus 6.17 points.
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There are plenty of downsides to Trump’s candidacy – including his threat to mount a third-party campaign if he is denied the Republican nomination -- which has alarmed GOP leaders who are looking down the road to the general election.
Trump has the highest negatives of any of the top tier candidates, and a majority of Americans in the survey said they think Trump is hurting the Republican Party. Not surprisingly, the vast majority of Democrats interviewed said Trump was harming his party’s image, but nearly half the Republicans interviewed said the same thing.
Political analyst Nate Silver notes that Trump ranks just 13th in overall favorability among Republicans in a series of national polls. “If you’re going to imply that a candidate is popular based on their receiving 20 percent of the vote, you ought to consider what the other 80 percent thinks about him,” Silver wrote recently in his FiveThirtyEight blog. “Most Republicans who don’t plan to vote for Trump are skeptical of him instead.”
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What’s more, about three in four Latinos said they have a negative view of Trump – and that more than half consider his comments about lawless Mexican immigrants to be racist or highly inappropriate, according to a separate NBC News/Wall Street Journal Telemundo poll released today.
The survey of 250 Hispanic-American voters revealed widespread hostility towards Trump, with only 13 percent saying they have a positive view of him.
The Republican presidential frontrunner has said repeatedly that many Latino voters “love” and support him, and that he would win the majority of that vote if he ends up as his party’s nominee. There is little evidence in this poll to suggest Trump is dealing with reality.
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Cruz Won’t be Trumped—Watch Him Cook Bacon on a Machine Gun
Sen. Ted Cruz (TX) has shown an affinity for breakfast foods he did, after all, famously read "Green Eggs and Ham" on the Senate floor. Now, the Texas senator is the latest Republican presidential contender to ham it up in a stunt video released Monday—this time, he separates himself from the pack by cooking bacon with a machine gun.
“Few things I enjoy more than on weekends cooking breakfast with the family. Of course in Texas, we cook bacon a little differently than most folks," Cruz says in a video. Cruz walks the viewer through the rather unique cooking process, including wrapping strips of bacon around the gun’s nozzle and encasing it in aluminum foil to keep in the heat.
Cruz himself fires off several rounds at a gun range. After he’s finished, and gotten grease all over the cement floor, he uses a fork to pick a piece of still sizzling meat off the barrel and eats it.
“Mmm. Machine gun bacon,” the senator says with a smile before chuckling.
The 66-second clip comes roughly two weeks after Sen. Lindsey Graham (R-SC), another White House hopeful, shot his own video where he used a variety of methods to destroy cellphones after he had his phone number given out by GOP frontrunner Donald Trump.
The video is sure to bounce around the web and get people talking about Cruz’s candidacy just as the Republican field gets ready to take the stage for its inaugural debate.
An NBC/Wall Street Journal poll released on Sunday showed the Texas lawmaker taking fifth in the GOP primary race, with 9 percent support. That put him 10 points behind current polling leader Donald Trump. Cruz also trails Wisconsin Gov. Scott Walker, former Florida Gov. Jeb Bush and neurosurgeon Ben Carson, according to the survey, meaning that the bacon stunt can't hurt: His campaign could definitely use more sizzle.
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