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- Trump, Biden Spar On Entitlement Cuts
Good morning and happy Tuesday. Asking customers to round up their final bill and donate the loose change to good causes has become commonplace at many stores -- and proof a little can go a long way. Charitable groups raised about $750M on point-of-sale donations alone in 2022. Have a great day!
In Today’s Brief
Robert Hur: House testimony today
Rafah: Israel says no imminent action
Voters: Need more women leaders
Choice Hotels: Ends Wyndham takeover bid
NFL: Free agency begins
... and more
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Top Tips
1) Policy fight
The general election's first non-immigration fracas broke out yesterday.
What happened: Former President Donald Trump told CNBC he was open to cutting Social Security and Medicare spending. President Joe Biden quickly rebuked his presumed opponent, saying there would be no entitlement cuts on his watch and he would not allow a raise in the retirement age. Biden's campaign launched an attack ad by the end of the day while the president proposed a $7.3T budget that protects entitlement spending.
Go deeper: Trump gave no specifics during his phone interview on Squawk Box. His campaign said he referred to cuts involving fraud and waste, but did not outline any policy proposals. Trump's camp touted his past protection of entitlements and said Biden's immigration policies endanger them.
Big picture: Medicare and Social Security will be election issues during this election and moving forward as the country starts its "Silver Tsunami." Medicare is projected to run out of money in 2028, followed by Social Security in 2034. Policy changes will be necessary to avoid automatic cuts.
2) Off ice
Scientists say they are closer to resurrecting the woolly mammoth.
What happened: Colossal Biosciences said it has turned Asian elephant cells into stem cells that can develop into tissue. Researchers say it is a small, but critical, step toward engineering cold-resistant elephants with the biological traits of mammoths.
Long gone: Most woolly mammoths have been extinct for about 10K years, although some may have existed as recently as 4K years ago. But they are one of the most studied prehistoric creatures because many frozen carcasses were preserved in North America and Siberia.
Big picture: Scientists have theorized the return of mammoths could save Arctic environments and thwart the effects of climate change. But many hurdles -- and skeptics -- remain.
3) Palace intrigue
A statement attributed to Princess Kate took credit for a controversial altered photo as conspiracy theories and questions about her health continue.
Mea culpa: Kate apologized for any confusion and said she edited a picture of her and her children. Major news agencies had retracted the image after determining it was manipulated prior to its release by Kensington Palace.
A sighting: Kate was photographed in the back of a car with Prince William leaving Windsor Castle -- the second time she has been seen since having unspecified abdominal surgery on Jan. 16. The princess spent nearly two weeks in the hospital and is not expected to resume royal duties before Easter.
Big picture: The photo furor has not quelled speculation around Kate, even after the explanation. It has also served as an election season reminder to be cautious about potentially altered and manipulated pho
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Quick Tips
U.S. News
Special Counsel Robert Hur will publicly testify before the House Judiciary Committee today. Hur questioned President Biden's memory in his report closing out his classified documents probe (More)
The U.S. experienced the warmest winter in 130 years, according to NOAA. Seven northern states had record-setting warmth; the country's mean temperature was 5 degrees warmer than average (More)
Housing and Urban Development Secretary Marcia Fudge is stepping down later this month. Fudge, a former House member, will exit public service; Deputy Secretary Adrianne Todman will serve as acting secretary (More)
World News
Israel said its planned ground offensive against Hamas in the Gaza city of Rafah is not imminent. The Muslim fasting month of Ramadan began on Monday without a ceasefire deal (More)
Armed gangs abducted almost 300 schoolchildren in Nigeria. The kidnappers are believed to be without any ideological affiliation and seeking ransom payments (More)
Hungarian Prime Minister Viktor Orban claimed former President Trump has "pretty detailed plans" to end the Ukraine-Russia war and would not fund the Ukrainians if re-elected. Orban declined to reveal Trump's plans after meeting him in Florida; Trump has previously claimed he would end the war in a day (More)
Campaign News
Close to 60% of Americans believe the nation would be better off with more women elected officials, according to a Gallup poll. About a quarter of those surveyed think the nation would be worse off (More)
Former President Trump has endorsed Mike Rogers in his Michigan Senate race. The former GOP House member recently endorsed Trump after being a fierce critic in the past (More)
Utah Sen. Mitt Romney said backlash toward Alabama Sen. Katie Britt's State of the Union rebuttal suggests Democrats fear her as Trump's potential running mate. Romney has said he will not support Trump's candidacy (More)
Business & Markets
Major indexes closed mixed yesterday. The Dow Jones eked out a gain as tech stocks cooled (Dow +0.12%, Nasdaq -0.41%, S&P 500 -0.11%).
Choice Hotels has ended its hostile takeover bid for rival Wyndham Resorts. The proposed deal was valued at about $8B when launched in October (More)
Nvidia faces a lawsuit alleging it violated copyright law by using books to train its artificial intelligence platform without permission. OpenAI has faced similar legal challenges (More)
Entertainment & Sports
Quarterback Kirk Cousins agreed to a deal with the Atlanta Falcons to headline the start of NFL free agency. Running back Saquon Barkley will leave the New York Giants and join the rival Philadelphia Eagles (More)
Garth Brooks, Elton John, Paul McCartney, Trisha Yearwood and Questlove will all make cameos in the upcoming This Is Spinal Tap sequel. Production on the Rob Reiner film has begun in New Orleans (More)
The Chicago Bears will build a publicly-owned domed stadium on the city's waterfront to replace Soldier Field. The NFL team had planned a new building in the Arlington Heights suburb (More)
Quick Hitters
Feel Good: A Taylor Swift fan wanted to sell her autographed guitar to pay for her wedding. Fellow Swifties refused to let it happen, donating almost $8K instead.
Be Safe: Johnsonville has recalled over 35K pounds of kielbasa sausage. Black rubber has reportedly been found in the products.
Go Deep: You can stand on Taiwan's outer coast and see the city of Xiamen. China hopes to use that geographic reality to bring the island nation closer to reunification.
Fine Tune: A new study came to a fascinating conclusion about migrant birds: They appear to learn from their journeys and plot more direct routes to get places quicker as they age.
Life Hack: Are you fighting a sore throat? Try drinking pickle juice, which can help reduce inflammation by pulling fluid out of your tissue.
OPTIMIZE ME: Researchers “found convincing evidence that higher intake of ultra-processed foods was associated with 50% increased risk of cardiovascular disease-related death, a 48% to 53% higher risk of anxiety and common mental disorders, and a 12% greater risk of type 2 diabetes”
Want more health and wellness news? Subscribe to our brand new newsletter, Optimize Me, and start living a healthier life through diet, exercise, sleep, and mindfulness:
Watch This
An elephant and a worker at a preserve in Thailand have a special relationship.
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Looking Ahead …
Congress is reportedly getting close to having enough votes to pass legislation mandating new cars have AM radios. Carmakers had moved to eliminate the technology.