A National Bureau of Economic Research (NBER) paper reveals that the initial $510 billion in Paycheck Protection Program (PPP) loans disproportionately benefited the wealthiest 20% of the population, with approximately $370 billion going to this group. While the program successfully preserved millions of job-years, its broad approach lacked targeted distribution, resulting in a highly regressive outcome. Although intended to support paychecks, a significant portion funded business owners and stakeholders. Improvements in targeting in 2021 demonstrated the feasibility of more equitable distribution, highlighting the need for enhanced government infrastructure to effectively direct future aid.
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Former President Trump’s new $Trump meme coin has raised serious ethical concerns, with Democratic Senator Chris Murphy calling it the “most brazenly corrupt thing a President has ever done.” The coin’s value surged after Trump announced an exclusive dinner for its top 220 buyers, attracting tens of millions of dollars in investment from anonymous buyers. This event, scheduled for May 22nd at Trump’s golf club, raises questions about potential conflicts of interest and illicit financial activity. The coin’s initial surge to $75 quickly diminished to $7.14 by early April, prompting further scrutiny of the former president’s actions.
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This article argues that Bernie Sanders would have been a more effective president than either Donald Trump or Joe Biden. Sanders’ policy positions, focusing on issues like affordable prescription drugs and addressing wealth inequality, resonate with a broad range of Americans and offer a path forward for both Democrats and Republicans. His popularity, particularly among young voters, contrasts sharply with the declining approval ratings of the Democratic Party. The author suggests that adopting some of Sanders’ strategies and appealing to working-class voters are crucial for the Democrats’ success in upcoming elections. Ultimately, the piece posits that Sanders’ approach offers a more effective means of addressing pressing economic and political issues.
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Israel launched a new ground offensive in Gaza, resulting in over 100 deaths on Friday and Saturday alone, according to Gaza’s civil defense agency. International condemnation is mounting, with Spain proposing a UN resolution for a world court ruling on aid access and leaders like Germany and Italy calling for an immediate halt to the violence. The offensive follows a six-week ceasefire and has caused a grave humanitarian crisis, with over 50,000 dead, 100,000 wounded, and two million displaced since October 2023. World leaders are urging increased pressure on Israel to stop what many are calling a massacre.
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The US Department of Health and Human Services plans to ban prescription fluoride supplements for children, despite recommendations from the ADA and AAP to use them for children lacking sufficient fluoride from community water. This decision, driven by unsubstantiated claims of harm to the microbiome, contradicts existing scientific evidence showing safety at prescribed doses. The HHS cites flawed studies, with one acknowledging benefits at recommended fluoride levels and the other concluding insufficient data. The FDA commissioner contends that good dental hygiene and limiting sugar are superior cavity prevention methods.
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Russia launched its largest drone attack of the war, deploying 273 drones overnight on May 18th, resulting in one fatality and three injuries according to initial reports. Ukrainian air defenses intercepted 88 drones, while many others likely served as decoys. This attack follows recent, unsuccessful peace talks in Istanbul and precedes a planned call between Presidents Trump and Putin, highlighting Russia’s continued aggression despite international pressure for a ceasefire and Ukraine’s acceptance of a previous truce proposal. Moscow’s demands at the talks remained unchanged and unrealistic, further demonstrating their unwillingness to negotiate seriously.
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Under the newly formed Trinity House Agreement, the UK and Germany will collaboratively develop a long-range precision strike weapon exceeding 2,000 km in range, a key advancement in NATO deterrence. This project, announced at the inaugural Trinity House Defence Ministerial Council, represents a significant boost to both nations’ defense capabilities and economic growth through job creation. Further collaboration includes joint procurement of Sting Ray torpedoes and German acquisition of British military bridges. These initiatives highlight the strengthening security and economic partnership between the UK and Germany, exemplified by the upcoming E5 Defence Ministers meeting.
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Elon Musk’s retweet of a friend’s message depicting Johannesburg, South Africa, as a city with entirely non-functional traffic lights and exorbitant bread prices ($50) quickly faced refutation. Numerous South African social media users countered these claims with photographic and video evidence of functioning traffic signals and significantly lower bread costs. Musk’s own AI bot, Grok, further corroborated the debunking, citing the actual cost of bread. The initial message also contained unsubstantiated allegations of widespread corruption and violence.
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Reporting from sources, Al-Hadath revealed that Hamas leader Mohammed Sinwar and ten associates were found dead within a Khan Yunis tunnel following Israeli strikes. These strikes, targeting a command center beneath the European Hospital, specifically aimed to eliminate Sinwar five days prior. Rafah Brigade commander Mohammed Shabana was also reportedly killed in the operation. The IDF and Shin Bet conducted the precise operation.
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John Q. Hosedrinker