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Warren’s $1.25T education plan ‘sweeping’ giveaway to the wealthy at expense of the poor, WaPo editorial board says

Democrat Elizabeth Warren’s $1.25 trillion plan to cancel existing student loan debt and make college free has been slammed as a “sweeping bailout for the middle class” and a regressive giveaway to the wealthy at the expense of the poor.

“Her latest big idea — to eliminate vast quantities of student debt and make public universities tuition-free — is not a sound idea,” wrote the Washington Post’ editorial board on Tuesday.

“Her latest big idea — to eliminate vast quantities of student debt and make public universities tuition-free — is not a sound idea.”

— The Washington Post

WARREN'S MASSIVE $640 BILLION STUDENT LOAN CANCELLATION QUESTIONED OVER FAIRNESS TO STUDENTS WHO PAID OFF THEIR DEBTS

Warren unveiled the far-reaching plan on Monday, pledging to cancel almost all student loan debt for 42 million Americans and introducing tuition-free college, with a total price tag of about $1.25 trillion over 10 years, including a one-off cost of $640 billion to cancel the debts.

Under the proposal, each person’s student debt would get a relief of $50,000 if household income is up to $100,000. Higher incomes would also be entitled to massive debt reductions, while only those households with earnings of over $250,000 would get no student debt reduction.

But as the editorial notes, spending over $640 billion to provide relief to graduates, who are defaulting on their student debts at a lower rate than before, comes at the expense of people who didn’t go to college at all and other priorities that would benefit the country better.

“What might be unfair is debt relief to the exclusion of other priorities with wider benefits, including to people who did not go to college at all,” the board wrote. “Ms. Warren proposes a wealth tax to cover the cost, the proceeds of which would then not be available for alternative, possibly more progressive uses.”

“What might be unfair is debt relief to the exclusion of other priorities with wider benefits, including to people who did not go to college at all.”

— The Washington Post

WARREN WON'T HOLD UNIVERSITIES 'ACCOUNTABLE' OVER ISSUE FUELING STUDENT DEBT PROBLEM: COLLEGE PROFESSOR

The tuition-free college, meanwhile, was lambasted by the newspaper as solely for the benefit of “the upper reaches” of income in the country as the children of rich parents will now be able to finish university debt-free even though their parents “are perfectly capable of helping defray the cost” of a for-profit school.

The board went on to praise Sen. Amy Klobuchar, another 2020 contender who’s viewed as a more moderate candidate, for saying during an event in New Hampshire that she can’t match Warren’s plan because it’s unrealistic.

“For us, though, policy priority is the essential concern. Student-loan defaults are concentrated among students who attended for-profit institutions, or who accumulated low loan balances but then dropped out and were stuck paying the money back out of lower-than-anticipated earnings,” the board wrote.

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“Such issues are hardest for students and families of color, as Ms. Warren correctly emphasized. This calls for a targeted approach that relieves the worst financial stress of those least able to handle it, not a sweeping bailout for the middle class and above.”

Source: Fox News Politics

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Ex-Trump attorney Dowd disputes Mueller report, says president never tried to oust special counsel

President Trump never said he wanted to “get rid” of Special Counsel Robert Mueller and instead cooperated fully with his investigation, according to one of the president’s former attorneys.

John Dowd, who served as a member of President Trump’s legal team from June 2017 until March 2018, discussed Trump’s approach to Mueller during an interview on “Fox & Friends” Monday.

Frequent media accounts prior to the release of the report suggested Trump tried to fire Mueller at times during the Russia investigation. The report itself said Trump told then-White House Counsel Don McGahn in June 2017 to tell the acting attorney general that Mueller “must be removed.” McGahn refused.

But asked on Monday when Trump said to fire Mueller, Dowd said: “He never did. I was there at the same time that the report says McGahn mentioned this, and I was assigned to deal with Mueller and briefed the president every day.

CONTROVERSIAL STEELE DOSSIER BACK IN SPOTLIGHT AFTER MUELLER REPORT'S RELEASE

TOM PEREZ: NO ONE -- NOT EVEN PRESIDENT TRUMP -- IS ABOVE THE LAW FOLLOWING MUELLER REPORT REVELATIONS

“At no time did the president ever say, ‘you know, John, I’m going to get rid of him.’ It was the opposite.

“Here’s the message the president had for Bob Mueller, he told me to carry -- number one, you tell him I respect what he is doing; number two, you tell him he has my full cooperation; number three, get it done as quickly as possible; and number four, whatever else you need, let me know.

“That was always the message and that is exactly what we did.”

Dowd continued, saying he spoke to Mueller about the president’s frequent public criticism of the investigation.

GIULIANI SLAMS 'CONFLICTS OF INTEREST' IN SPECIAL COUNSEL'S OFFICE: 'WHEN DID MUELLER BECOME GOD?'

“I talked to Bob about that. I said, ‘do you understand what’s going on?’ and he said, ‘oh, it’s political, he has to do that for political reasons’.

“I said, ‘I tell you what, the president and I will make sure, we'll say publicly cooperate with Bob Mueller’ and we did early on. So that was it.”

Host Steve Doocy then asked Dowd about “the suggestion from the report that Don McGahn, the president's attorney, was told go out and fire him” Mueller.

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“I just I think there was a misunderstanding,” Dowd said.

“I just don't believe it. I think the president simply wanted McGahn to call Rosenstein, have him vetted, because the president believed Mueller did have some conflicts.”

Source: Fox News Politics

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Across Baghdad, a moment of respite and guarded hope

Baghdad's main commercial district has seen more bombings than its residents can count. Death visited almost daily during times of war — most horrifically, a 2015 suicide bombing that ripped through two shopping malls, killing over 300 people.

But over the past year or so, streets lined with food stalls are crowded with shoppers, coffee shops and restaurants are packed until late, and the grey cement blast walls that protected against bombings are being removed.

For the first time in 15 years there is no major war or insurgency in Iraq, and the defeat of the Islamic State group in late 2017 after a ruinous four-year war has given the population a moment of respite.

Despite the enormous challenges ahead, there is a guarded sense of hope across the capital.

Source: Fox News World

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Berlin reveals contacts with Deutsche Bank amid merger talks

FILE PHOTO: Headquarters of Commerzbank and Deutsche Bank (L) are photographed in Frankfurt
FILE PHOTO: Headquarters of Commerzbank and Deutsche Bank (L) are photographed in Frankfurt, Germany, March 19, 2019. REUTERS/Kai Pfaffenbach/File Photo

April 9, 2019

By John O’Donnell

FRANKFURT (Reuters) – Deutsche Bank’s Chief Executive had a series of meetings with Germany’s deputy finance minister before and immediately after it announced merger talks with a state-backed rival, according to information revealed by the government.

The contact underscores the attention Germany’s finance ministry has given to the country’s largest bank at a critical juncture that will determine whether the state becomes a shareholder in the group.

In a letter answering a question from a German lawmaker, seen by Reuters, the government said Deutsche CEO Christian Sewing had met three times this year with Germany’s deputy finance minister, Joerg Kukies.

Two of those meetings happened in January, while the third was on March 18, the day after Deutsche and Commerzbank publicly confirmed they were in talks about a possible merger.

Fabio De Masi, the leftist lawmaker who made the information request, said the meetings showed finance minister Olaf Scholz, and his deputy, had been important in influencing talks, even though they have sought to distance themselves.

“In reality, Scholz and Kukies hold the key,” he said, adding a merger would be a risk for taxpayers and cost thousands of jobs. “A banking champion is a dangerous idea. Putting two turkeys together won’t produce an eagle.”

A spokesman for the finance ministry said Kukies meets “with many representatives of banks … on numerous occasions” because of his job, and declined to comment on the merger talks. Deutsche Bank declined to comment.

Deutsche Bank’s exploratory talks with Commerzbank come after prodding by Germany’s finance ministry, which is worried about the future of the country’s biggest bank.

Any deal would see Berlin become a shareholder in the combined group, which one German official said would need up to 10 billion euros ($11 billion) of fresh capital because of restructuring costs and the fact losses on investments could be triggered.

Through its stake in Commerzbank, the German government would become a top shareholder in a merged group, playing a central role in any fusion. Lawmakers fear this puts it on the hook to shoulder losses if the bank later runs into trouble.

Berlin could yet pull the plug if it believes a deal would be politically unpalatable.

(Reporting by John O’Donnell; Editing by Mark Potter)

Source: OANN

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Slovakia to boost defense spending faster than planned: PM

Slovakia's Prime Minister Peter Pellegrini attends a debate on the future of Europe, at the European Parliament in Strasbourg
Slovakia's Prime Minister Peter Pellegrini attends a debate on the future of Europe, at the European Parliament in Strasbourg, France, March 12, 2019. REUTERS/Vincent Kessler/File Photo

April 15, 2019

BRATISLAVA (Reuters) – Slovakia will boost defense spending to 2 percent of gross domestic product by 2022, achieving the NATO goal two years faster than planned, Prime Minister Peter Pellegrini said.

“After raising defense spending to 1.73 percent of GDP this year we expect to reach the 2.0 percent level as early as 2022, compared with the originally planned 2024,” Pellegrini told a foreign policy conference on Monday.

Slovakia, a member of the U.S.-led military alliance since 2004, will spend about 6.5 billion euros ($7.35 billion) by 2030 to modernize its armed forces and reduce its reliance on Russian equipment dating from its Communist past.

It signed a $1.9 billion deal last year to buy 14 U.S.-made F-16 fighter jets to replace its aging Russian-made MiG-29s.

U.S. President Donald Trump has pressed other NATO nations to lift their defense spending beyond the NATO-prescribed 2 percent level.

(Reporting by Tatiana Jancarikova; Editing by Mark Heinrich)

Source: OANN

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Trump Seeks to End Government Control of Mortgage Companies

President Donald Trump has issued an order for the government to end its 10-year conservatorship of the mortgage companies Fannie Mae and Freddie Mac.

The mortgage companies were placed under government control in September 2008 after the bursting of the housing bubble triggered a financial crisis that put the government-sponsored enterprises on the verge of failure.

Trump has directed Treasury Secretary Steven Mnuchin to develop a plan to ensure that Fannie Mae and Freddie Mac can operate as private companies while preserving access to 30-year fixed-rate mortgages and minimizing risks to the broader economy.

The order also directs Housing and Urban Development Secretary Ben Carson to reduce risks to taxpayers from the housing finance support offered by the Federal Housing Administration.

Source: NewsMax Politics

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Oil prices fall on economic worries despite tight supply

FILE PHOTO: An offshore oil rig is seen in the Caspian Sea near Baku
FILE PHOTO: An offshore oil rig is seen in the Caspian Sea near Baku, Azerbaijan, October 5, 2017. REUTERS/Grigory Dukor

March 20, 2019

By Noah Browning

LONDON (Reuters) – Oil prices fell on Wednesday, dragged down by concerns about global economic growth as the U.S.-China trade dispute rumbled on, but receiving some support from tightened supply.

International Brent crude oil futures were at $67.35 a barrel at 1250 GMT, down 26 cents, or 0.38 percent.

U.S. West Texas Intermediate (WTI) crude futures were at $58.43 per barrel, down 60 cents, or 1.02 percent.

An eight-month trade war between China and the United States has worried global markets already concerned by signs of a slowdown in economic growth this year.

But there have been mixed signals that the standoff between the world’s top two economies can soon be resolved.

A Bloomberg report on Tuesday citing concern among U.S. officials that China is pushing back on American demands briefly weakened oil prices before both benchmarks again approached four-month highs.

However, Washington announced that Treasury Secretary Steven Mnuchin plans to travel to China next week for another round of trade talks with senior Chinese officials.

“U.S.-China trade talks continue to present a binary risk for the oil market and other risky assets,” BNP Paribas strategist Harry Tchilinguirian told the Reuters Global Oil Forum.

“A trade agreement is likely to boost oil prices above current forecasts whereas failure can lead to the type of sell-off we saw last December.”

Analysts said an economic slowdown could soon dent fuel consumption, holding back crude.

“Global growth concerns and ongoing oversupply fears (are) creating headwinds for the commodity,” said Lukman Otunuga, analyst at futures brokerage FXTM.

Asian business confidence held near three-year lows in the first quarter as the U.S.-China trade dispute dragged on, pulling down a global economy that is already on a downward path, a Thomson Reuters/INSEAD survey found.

But crude prices have risen almost a third this year, pushed up by supply cuts among the Organization of the Petroleum Exporting Countries and its allies including Russia, as well as U.S. sanctions against oil exporters Iran and Venezuela.

“The shaky supply outlook with regard to Venezuela and Iran, as well as the petro-nations’ output restrictions are top of mind in the oil market,” said Norbert Ruecker, head of economics at Swiss bank Julius Baer.

Further boosting prices, the American Petroleum Institute said on Tuesday that U.S. crude, gasoline and distillate inventories fell in the week to March 15.

The U.S. Energy Information Administration will publish its weekly crude production and storage level report around 1700 GMT.

(Reporting by Noah Browning; Additional reporting by Henning Gloystein in Singapore; Editing by Dale Hudson and Alexander Smith)

Source: OANN

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FILE PHOTO: File photo of a Chevron gas station sign in Del Mar, California
FILE PHOTO: A Chevron gas station sign is seen in Del Mar, California, in this April 25, 2013 file photo. REUTERS/Mike Blake/File Photo

April 26, 2019

(Reuters) – U.S. oil and natural gas producer Chevron Corp reported a 27 percent fall in quarterly earnings on Friday, hit by lower crude prices and weaker margins in its refining and chemicals businesses.

Net income attributable to the company fell to $2.65 billion, or $1.39 per share, for the first quarter ended March 31, from $3.64 billion, or $1.90 per share, a year earlier.

Earlier in the day, larger rival Exxon Mobil Corp reported earnings well below analysts’ estimates, as margins in its refining business were hurt by higher Canadian prices and heavy scheduled maintenance.

(Reporting by Arathy S Nair in Bengaluru; Editing by Saumyadeb Chakrabarty)

Source: OANN

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FILE PHOTO: Ford logo is seen at the North American International Auto Show in Detroit, Michigan
FILE PHOTO: The Ford logo is seen at the North American International Auto Show in Detroit, Michigan, U.S., January 15, 2019. REUTERS/Brendan McDermid/File Photo

April 26, 2019

(Reuters) – Ford Motor Co said on Friday the U.S. Department of Justice had opened a criminal investigation into the automaker’s emissions certification process in the United States.

The potential concern does not involve the use of defeat devices, the company said in a regulatory filing. (https://bit.ly/2VqjHpl)

Ford had voluntarily disclosed the matter to the U.S. Environmental Protection Agency and the California Air Resources Board in February.

(Reporting by Ankit Ajmera in Bengaluru; Editing by James Emmanuel)

Source: OANN

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Hundreds of Cuban migrants are reported to be on the run Friday in Mexico after a crowd of more than 1,000 burst out of a troubled immigration detention center on its southern border.

Mexico’s National Immigration Institute said the mass escape Thursday in Tapachula – which the Associated Press called the largest in recent memory — involved around 1,300 Cuban migrants, although 700 of them have since returned voluntarily.

The migrants reportedly streamed out of the compound without any resistance, as the institute said its agents weren’t armed and “there was no confrontation.”

Federal police with riot shields later rushed in to control the situation, as a crowd of angry Cubans whose relatives were being held at the facility gathered outside. The Cubans claimed their relatives reported overcrowding and unsanitary conditions at the facility.

A Federal Police officer stands guard outside an immigration detention center in Tapachula, Chiapas state, Mexico, late Thursday, following a breakout.

A Federal Police officer stands guard outside an immigration detention center in Tapachula, Chiapas state, Mexico, late Thursday, following a breakout. (AP)

BORDER PATROL UNION CHIEF BLASTS CONGRESS OVER MIGRANT CARAVANS: ‘WHAT ARE YOU DOING ABOUT IT’?

“My wife and child have been in there for 27 days in bad conditions,” said Usmoni Velazquez Vallejo, as he waited outside for news. “There is overcrowding, insufficient food and there isn’t even medicine for them.”

Another Cuban detainee told the AFP: “We have many there… we are very tight, we sleep on the floor.”

It’s the third time since October that migrants at the facility staged an uprising, according to the news agency.

The center’s holding capacity is officially listed at less than 1,000 people, but the escape of 1,300 meant it was probably at least at double its capacity, since not everyone being held there escaped. Residents in the area said that sometimes the facility has held as many as 3,000 people, and a Mexican newspaper cited by Reuters said Haitians and Central Americans also are among the large group who still have not been tracked down.

Migrants wait for their transfer from an immigration detention center in Tapachula, Chiapas state, Mexico, on Thursday.

Migrants wait for their transfer from an immigration detention center in Tapachula, Chiapas state, Mexico, on Thursday. (AP)

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Earlier in the day, Mexico’s top human rights official toured the facility.

Elsewhere in the country, a new caravan estimated to contain up to 10,000 migrants is making its way to the U.S.-Mexico border.

The Associated Press contributed to this report.

Source: Fox News World

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Logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro
FILE PHOTO: A logo of the Exxon Mobil Corp is seen at the Rio Oil and Gas Expo and Conference in Rio de Janeiro, Brazil September 24, 2018. REUTERS/Sergio Moraes

April 26, 2019

(Reuters) – Exxon Mobil Corp on Friday reported first-quarter profit fell sharply on lower oil and gas prices and weakness in its refining and chemicals businesses that offset modest production gains.

The largest U.S. oil producer’s first quarter earnings fell to $2.35 billion, or 55 cents a share, from $4.65 billion, or $1.09 a share, a year ago.

Analysts had expected Exxon to earn 70 cents per share, according to Refinitiv Eikon estimates.

Shares were trading down about 2.7 percent in premarket trading on Friday.

Exxon’s oil equivalent production rose 2 percent to 4 million barrels per day, up from 3.9 million bpd in the same period the year prior. The company said its output in the Permian Basin, the largest U.S. shale basin, rose 140 percent over a year ago.

(Reporting by Jennifer Hiller; Editing by Chizu Nomiyama)

Source: OANN

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The Washington Post’s media critic went into meltdown after White House Press Secretary Sarah Sanders held a mock press briefing for the children of White House journalists and employees on Take Your Daughters and Sons to Work Day.

Erik Wemple, the newspaper’s chief media critic, slammed Sanders and the White House for organizing a fun day on Thursday for junior would-be journalists, while not holding an actual press conference for the record number of days.

WHITE HOUSE STAFF TO SKIP CORRESPONDENTS’ DINNER AFTER LAST YEAR’S CONTROVERSY

Wemple wrote that Sanders gave to children an important lesson of “the centrality of nonaccountability mechanisms in the affairs of state” after she announced that the mock press briefing was “off the record.”

“When the children head home tonight, perhaps they can pull up archival footage to see how their questions stack up against ye olde press briefings,” he added.

“Accordingly, Sanders was doing more than just providing a fun interlude for the kids; she was headlining a reenactment, anchoring a bona fide historical site.”

— Erik Wemple

“Tuesday, after all, marked a record for number of days without a White House press briefing. Accordingly, Sanders was doing more than just providing a fun interlude for the kids; she was headlining a reenactment, anchoring a bona fide historical site.”

While some correspondents praised the White House for doing “a lot of work to welcome the children and provide “them an excellent experience,” other journalists echoed Wemple’s criticism and pointed out that Sanders hasn’t held a press briefing in over 40 days.

“Kids of WH Press Corps members are getting ready for a briefing with  @PressSec. Their parents have not had one in 45 days,” tweeted CBS News’ White House Correspondent Weijia Jiang.

REPORTER SHOUTS AT SARAH SANDERS AFTER BRIEFING: ‘DO YOUR JOB, SARAH!’

“The irony of it is that they’re pretending that the White House press briefing is a thing, and they’re pretending that this is how the White House operates, but this is not at all how the White House operates … It’s a relic of an earlier time,” another correspondent quoted by the Post said.

“The irony of it is that they’re pretending that the White House press briefing is a thing, and they’re pretending that this is how the White House operates, but this is not at all how the White House operates … It’s a relic of an earlier time.”

— a White HOuse Correspondent

The Post struck a different tune in a column earlier this year, which declared that despite the administration’s criticism of the media, President Trump was “extremely accessible.”

Wemple quoted Martha Joynt Kumar, director of the White House Transition Project, who said that Trump held 338 “short question-and-answer” sessions over his time in office, significantly more than 75 such sessions by former President Barack Obama during his first full two years in office.

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In terms of total instances of access to the media, which include interviews, short sessions, and news conferences, Trump was accessible least 577 times in his first two years in office.

Source: Fox News Politics

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