Support Money – SMLXtlarge http://www.smlxtralarge.com/ Mon, 21 Nov 2022 18:41:33 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://www.smlxtralarge.com/wp-content/uploads/2021/07/icon-5-150x150.png Support Money – SMLXtlarge http://www.smlxtralarge.com/ 32 32 What you need to know about what happened at the UN climate talks in Egypt https://www.smlxtralarge.com/what-you-need-to-know-about-what-happened-at-the-un-climate-talks-in-egypt/ Mon, 21 Nov 2022 18:41:33 +0000 https://www.smlxtralarge.com/what-you-need-to-know-about-what-happened-at-the-un-climate-talks-in-egypt/ The big climate meeting in Sharm el-Sheikh, Egypt is over and the question is – as always – what happened, and will it help us tackle the climate crisis? The short answer is: the negotiations have struggled at times, but over time delegates have made significant progress on an issue important to Africa and other […]]]>

The big climate meeting in Sharm el-Sheikh, Egypt is over and the question is – as always – what happened, and will it help us tackle the climate crisis?

The short answer is: the negotiations have struggled at times, but over time delegates have made significant progress on an issue important to Africa and other developing regions, and won less publicized victories.

The biggest news to come out of the talks

Arguably the biggest news from the UN climate meeting, known as COP27, was the decision to direct funding to the countries most vulnerable to climate change for “loss and damage”. These are the nations that have produced the least amount of climate pollution but are the hardest hit by climate impacts.

The idea is that developed countries (which have contributed the most to carbon emissions) will provide money to support less developing countries that have suffered severe damage from which they cannot recover.

There is an important caveat: this will not happen overnight. The new system needs to be set up and resourced, which means it may take years before the countries most in need receive a dollar, euro or yen from the new fund.

Progress in reducing climate pollution has not been as notable as progress in reducing loss and damage. Countries deliberated at length on keeping the goal of limiting warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) as the target to be achieved, but failed to agree on strong language on the issue. phasing out of fossil fuels and coal.

There is a risk that without clear signals about the need for urgent and ambitious action to reduce emissions, efforts to manage loss and damage will be futile as dangerous climate change becomes increasingly a reality.

3 other main areas of progress during the talks

There has also been progress on other half-baked but important topics:

1. Carbon markets

Carbon markets, which use financial incentives to reduce emissions, are important because they help incentivize countries and the private sector to raise their ambitions – and thus reduce emissions further.

The Sharm el-Sheikh Accord clarifies how countries can use cooperative approaches to meet their emissions targets under the Paris Agreement. But the details remain to be clarified.

2. Natural climate solutions

Nature is one of the most powerful forces we have to reduce climate impacts – from forests that absorb climate pollution to wetlands that protect us from the impacts of hurricanes.

Countries agreed to encourage these nature-based solutions; encouraged action against deforestation; and initiated work on climate, agriculture and food security. Again, the key will be the action countries take on these issues.

3. New programs and progress

Outside of the negotiations, organizations and communities around the world have come together to share progress, lessons learned and possible solutions to accelerate climate action. Here are some examples :

  • The United States’ announcement to launch a process to develop an initiative called the Energy Transition Accelerator, which aims to use the power of carbon markets to help developing countries move away from fossil fuels in a way that supports workers and communities.
  • The recently launched Africa Carbon Market Initiative aims to significantly expand Africa’s engagement in voluntary carbon markets.
  • The Global Methane Pledge, which has expanded to 150 countries committed to reducing methane emissions – the fastest way to slow warming this decade.

Putting that summit into perspective

After a year of notable progress on climate in key economies, we had a climate summit that made less headlines than the year before, but marked a historic step forward in terms of losses and of damage.

The post-COP27 world is still behind on climate action, but the achievements in Egypt have moved us in the right direction.

Now we must keep up the pressure for greater ambition – in emissions reductions, financial incentives to adapt to climate impacts and accountability – as we move towards global assessment of progress and decisions on how to raise the bar on climate action.

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Bogus Theory misinterprets FTX support for Ukraine https://www.smlxtralarge.com/bogus-theory-misinterprets-ftx-support-for-ukraine/ Fri, 18 Nov 2022 23:13:01 +0000 https://www.smlxtralarge.com/bogus-theory-misinterprets-ftx-support-for-ukraine/ Quick setting The bankruptcy of FTX, one of the world’s largest cryptocurrency exchanges, has sparked an unsubstantiated claim that its former CEO conspired with Ukraine and Democratic politicians to launder US aid money. FTX helped make crypto donations available for Ukraine; it was not taking any assets from Ukraine. Whole story FTX, which had been […]]]>

Quick setting

The bankruptcy of FTX, one of the world’s largest cryptocurrency exchanges, has sparked an unsubstantiated claim that its former CEO conspired with Ukraine and Democratic politicians to launder US aid money. FTX helped make crypto donations available for Ukraine; it was not taking any assets from Ukraine.


Whole story

FTX, which had been one of largest cryptocurrency exchanges in the world, filed for bankruptcy the 11th of November after a failed deal for it to be acquired by a bigger rival and its customers rushed to withdraw their money.

The exchange had loaned customer deposits to the hedge fund owned by its then-CEO Sam Bankman-Fried, which is at least part of the reason there wasn’t enough money available to repay. all FTX customers, Bankman-Fried said. in a interview following bankruptcy.

Russian state media and some top US conservatives politically pushed the company’s downfall, however, pushing a conspiracy theory involving money laundering via Ukraine.

The Gateway Experta conservative website that has a history of spreading misinformation and conspiracy theories, posted a story on November 12, claiming that “Tens of Billions of US Dollars were transferred to Ukraine and then using the FTX Crypto Currency, the funds were laundered to Democrats in the United States.”

The following day, the Russian news media RT picked up on this claim and published a story repeat it.

And, the next day, Fox News commentator Jesse Watters made Requirementroughly telling his 2.7 million viewers that Ukraine had used US aid money and “invested” in FTX, speculating that it might be part of a “money laundering” scheme to benefit the Democratic Party. Watters included a chart which depicts a circular flow of money that began and ended with President Joe Biden.

The same night Watters’ show aired, former President Donald Trump amplified essentially the same graphic on his social media platform, Truth Social, where he has 4.6 million followers. Other conservative commentators, such as Terrence K. Williams, have also shared it.

Since this graphic represents the most prevalent version of the allegation, that is what we will discuss.

The image promoted by Trump is shown on the right – it claims President Joe Biden gave ‘US dollars’ to Ukraine; Ukraine had used this money as part of an agreement with FTX; The then-CEO of FTX had donated it to the Democratic Party and political action committees; and the Democratic Party had backed Biden.

We’ll start at the beginning — with American aid to Ukraine.

Since Russia invaded and annexed Crimea in 2014US sent more than $20 billion in security aid to Ukraine, congressional research service finds report published in October. Most of this total amount has been sent since Russia’s recent invasion of Ukraine on February 24. This assistance took the form of equipment and training, according to a Insight of the Ministry of Defence.

The United States has also authorized billions more in humanitarian and financial assistance and is the biggest contributor total aid, globally.

Although the chart acknowledges that the aid was “in the form of military and humanitarian aid”, it does not explain how Ukraine would channel the monetary value of the aid to FTX.

Mark Cancian, senior adviser at the Center for Strategic and International Studies, said PolitiFact that “most (US) aid goes through third parties and not directly to the Ukrainian government”.

He said: “A lot of humanitarian aid goes to humanitarian organizations. Purchases of military supplies for Ukraine are the responsibility of the contractor.

And a State Department spokesperson said in a statement to PolitiFact that direct budget support to the Ukrainian government could not be funneled out of the country as the theory claims.

“Direct budget support that the United States provides to the Ukrainian government is channeled through a World Bank mechanism to the Ukrainian Ministry of Finance,” the statement said. “There are agreements and oversight mechanisms in place to ensure that US funds are used for audited government spending; the types of expenses for which US funds may be used are specifically listed in these agreements.

This is the biggest problem with this theory – there is no suggestion that large sums of money have moved from Ukraine to FTX. Ukraine hadn’t “invested” with FTX, as claimed by Watters, and the country hasn’t given US aid money to the company or its former CEO, as alleged. image.

On the contrary, Ukraine has created a website to accept cryptocurrency donations that would benefit his war effort, and he used three companies to funnel the donations and turn them into usable assets – Everstake, Kuna, and FTX.

Thus, FTX was helping to make crypto donations available for Ukraine; it was not taking any assets from Ukraine. This was actually explained in the article starting in March, Watters showed viewers that there was a connection between FTX and Ukraine, but he incorrectly claimed that the country had “invested” in the company rather than explaining what the article actually said.

Likewise, the article which the Gateway Pundit cited as evidence to support the claim that “Democrats sent tens of billions to Ukraine and then laundered that money into the pockets and funds of Democrats in the United States” said nothing like. He also explained that FTX had agreed to help channel charitable contributions for Ukraine.

Alex Borniakovdeputy minister of digital transformation of Ukraine on the development of the IT industry, responded to the complaint on Twittersaying, “A crypto fundraising foundation @_AidForUkraine used @FTX_Official to convert crypto donations to fiat in March. The Ukrainian government has never invested funds in FTX. invested in FTX, which gave money to the Democrats, is frankly absurd.

So, there is no evidence to support the claim that Ukraine invested or gave money to FTX.

Conspiracy theories often tap into a grain of truth – in this case, it’s in the third part of the chart. Bankman Fried make a donation nearly $40 million to political candidates and committees during the midterm election cycle. The vast majority of these donations benefited the Democrats.

It’s unclear exactly where Bankman-Fried’s money came from, but the bankruptcy process and potential criminal investigations risk unraveling the finances.

But, more importantly, there is no evidence to suggest that this money came from US aid that was laundered through Ukraine.

Editor’s Note: FactCheck.org is one of many organizations work with facebook to debunk misinformation shared on social media. Our previous stories can be found here. Facebook has no control on our editorial content.

Sources

FTX United States. Voluntary petition for non-individuals declaring bankruptcy. United States Bankruptcy Court for the District of Delaware. November 11, 2022.

Piper, Kelsey. “Sam Bankman-Fried tries to explain himself.” Voice of November 16, 2022.

Foreign Relations Council. Tracking global conflicts. Conflict in Ukraine. Updated November 8, 2022.

Congressional Research Service. US security assistance to Ukraine. Updated October 21, 2022.

US Department of Defense. Fact Sheet on U.S. Security Assistance to Ukraine. November 4, 2022.

Kiel Institute for the World Economy. Ukraine Support Tracker – A database of military, financial and humanitarian aid to Ukraine. Updated October 11, 2022.

Cercone, Jeff. “US taxpayer money sent to help Ukraine was laundered by cryptocurrency firm FTX to help Democrats midterms.” PolitiFact. November 15, 2022.

Nelson, Danny. “Ukraine Partners with FTX and Everstake to Launch New Crypto Donation Website.” CoinDesk.com. March 14, 2022.

Kumar, Ashish. “FTX CEO Partners to Help Ukraine Raise Crypto Donations.” CoinGape.com. Updated March 9, 2022.

Bornyakov, Alex (@abornyakov). “A crypto fundraising foundation @_AidForUkraine used @FTX_Official to convert crypto donations to fiat in March. The Ukrainian government has never invested funds in FTX. The whole story that Ukraine invested in FTX, which gave money to the Democrats, is nonsense, frankly.” Twitter. November 14, 2022.

Primack, Dan and Alexi McCammond. “Bankman-Fried spent millions on Dem campaigns.” Axios. November 15, 2022.

Palma, Stefania, Courtney Weaver and Caitlin Gilbert. “Sam Bankman-Fried’s fall cuts a big source of funds for US Democrats.” Financial Times. November 13, 2022.

Apprentice, Chris. “US authorities investigate FTX collapse and executive involvement – sources.” Reuters. November 14, 2022.

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Bursa Malaysia and the Business Commission team up to boost support for the Malaysian business community https://www.smlxtralarge.com/bursa-malaysia-and-the-business-commission-team-up-to-boost-support-for-the-malaysian-business-community/ Wed, 16 Nov 2022 11:29:14 +0000 https://www.smlxtralarge.com/bursa-malaysia-and-the-business-commission-team-up-to-boost-support-for-the-malaysian-business-community/ Bursa Malaysia Bhd and the Enterprise Commission Malaysia (SSM) have signed a Memorandum of Understanding to undertake a three-year collaboration with three main initiatives to benefit small and medium-sized enterprises (SMEs) in the Malaysian economy. — Photo by Firdaus Latif Wednesday, November 16, 2022 7:28 p.m. GMT KUALA LUMPUR, November 16 – Bursa Malaysia Bhd […]]]>

Bursa Malaysia Bhd and the Enterprise Commission Malaysia (SSM) have signed a Memorandum of Understanding to undertake a three-year collaboration with three main initiatives to benefit small and medium-sized enterprises (SMEs) in the Malaysian economy. — Photo by Firdaus Latif

Wednesday, November 16, 2022 7:28 p.m. GMT

KUALA LUMPUR, November 16 – Bursa Malaysia Bhd and the Companies Commission Malaysia (SSM) have signed a Memorandum of Understanding to undertake a three-year collaboration with three main initiatives to benefit small and medium-sized enterprises (SMEs) in the Malaysian economy .

The framework of the MoU includes the joint exploration of business opportunities for Bursa Malaysia and SSM that support the growth aspiration of Malaysian companies’ digital economy.

Managing Director of Bursa Malaysia, Datuk Muhamad Umar Swift, said the MoU between Bursa Malaysia and SSM today provides the Exchange with a trusted partner both in terms of enhanced combined data capability , as well as the opportunity to empower the local business community through data and information sharing. .

“In addition to building a centralized data system that connects companies to funding agencies,

this collaboration will allow small businesses to learn from the best practices of larger companies,” he said in a joint statement.

The new collaboration will be to leverage the combined potential of Bursa Malaysia and SSM datasets to create a one-of-a-kind data ecosystem that supports Malaysia’s socio-economic development agenda.

The platform, comprising Malaysian business datasets from both SMEs and publicly listed companies (PLCs), will facilitate the development of in-depth and meaningful analytics and solutions for the fundraising community on the capital market, as well as for the business community as a whole. .

Leading the Environmental, Social and Governance (ESG) program, Bursa Malaysia and SSM would work together to encourage Malaysian companies to focus on improving disclosure and access to capital through ESG best practices in their respective sectors.

PLCs from financial institutions to manufacturing companies can serve as catalysts for the Malaysian economy by improving data and transparency in their supply chain. — Bernama

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SBF and Crypto Collapse Part of Pandemic Hangover https://www.smlxtralarge.com/sbf-and-crypto-collapse-part-of-pandemic-hangover/ Sun, 13 Nov 2022 23:24:28 +0000 https://www.smlxtralarge.com/sbf-and-crypto-collapse-part-of-pandemic-hangover/ Comment this story Comment When historians look at the dramatic rise and fall of the cryptocurrency market, they will conclude that it could not have happened without the pandemic. And they would be right. In 2020, when much of the world was locked down and economies shut down due to the spread of Covid-19, financial […]]]>

Comment

When historians look at the dramatic rise and fall of the cryptocurrency market, they will conclude that it could not have happened without the pandemic. And they would be right.

In 2020, when much of the world was locked down and economies shut down due to the spread of Covid-19, financial assets of all stripes began a spectacular rally that continued into 2021. It was hard to explain, even for the experts. Ultimately, they attributed this to too much money flowing into the global financial system. Ordinary? Yes, but very true.

The combined money supply of the United States, China, the Eurozone, Japan and eight other major developed economies jumped $21.5 trillion in 2020 and 2021 to a record $102.3 trillion. dollars, according to data compiled by Bloomberg. In other words, more money was created in 2020 and 2021 than in the previous seven years combined. This unprecedented increase had two sources: generous public spending programs designed to support economies during the pandemic; and central bank policies that essentially printed money to be injected directly into the financial system to keep it from collapsing.

Looking back, it is clear that governments and central banks overreacted. The financial system has been flooded with liquidity in a remarkably short period of time. It was as if new assets had to be invented to absorb all the new money, especially with bonds paying nothing and stock market values ​​at historically high levels. The crypto world has become a key release valve. The number of digital currencies has exploded from less than 3,000 towards the end of 2019 to around 10,000 by 2022, according to research firm Statista. The value of the crypto market has grown from less than $200 billion to $3 trillion. The money poured in despite the crypto having very little practical use other than pure speculation. It’s not like you can walk into any restaurant, car dealership, or department store and pay with Bitcoin. That day may come, but it is still a long way off.

Financial engineers don’t stop there. They quickly invented the non-fungible token, a cousin of crypto. As Bloomberg News explains, NFTs are essentially digital certificates of authenticity. An NFT is a unique and irreplaceable identifier created by an algorithm: a distinct barcode for a piece of digital art or a collectible. This helps solve a problem digital artists have had for a long time, which is how to create rarity for an item that can be reproduced endlessly.

Like crypto, the NFT market has exploded. Trade reached $17.6 billion last year, a 21,000% increase from 2020, according to Nonfungible.com. Investors have gone crazy for bored monkeys, cryptokitties, and hat-wearing penguins. The price to join the Bored Ape Yacht Club by purchasing an NFT of an image of a bored ape has jumped to $420,430. Crypto entrepreneur Justin Sun paid half a million dollars for a photo of a rock with laser eyes.

No one should have been surprised by the crypto frenzy. It was the culmination of a dozen years of policy mismatch between monetary and fiscal authorities globally.

Coming out of the 2008 financial crisis, governments largely focused on austerity to reduce heavy debt loads, leaving central banks to fuel the recovery from the worst recession since the Great Depression.

Central banks decided they had no choice but to resort to drastic measures to prevent their economies from falling back into recession and avoid deflation. So they brought interest rates down to near zero – or lower in some cases – and began a policy of quantitative easing. As part of QE, they injected money directly into the financial system by buying assets such as government bonds to prevent market interest rates from rising.

Once on this path, they could no longer stop and risk jeopardizing a soft recovery.

Investors, of course, knew this and became emboldened to pay ever higher prices for financial assets because central banks were unwilling – unable! — let the markets fail. Central banks knew they were stuck. They pleaded with governments to take some responsibility, to no avail. European Central Bank President Christine Lagarde has openly pushed for a looser fiscal policy. Then-Federal Reserve Chairman Ben S. Bernanke was “so aggressive on the monetary policy side” due to a lack of fiscal stimulus, said Philip Orlando, chief equity strategist at Federated Investors. Inc., to Bloomberg News in 2016.

As the pandemic spread, central banks had no choice but to step on the QE accelerator. The collective balance sheet assets of the Fed, ECB, Bank of Japan and Bank of England have grown from around 10% of their countries’ combined gross domestic product in 2007 to around 35% at the start of 2020. , according to data from Bloomberg. They reached 59% at the peak at the end of 2021.

The pandemic has forced governments to finally loosen their belts. The combination has led to an undeniable speculative frenzy in the markets. Crypto in particular has soared. But all of these fads must end, as evidenced by the bankruptcy of Sam Bankman-Fried’s crypto empire last week and the downward spiral of Bitcoin, which has collapsed 75% since its peak a year ago.

Governments are reverting to austerity in the face of rising prices. Just ask Liz Truss, whose time as UK Prime Minister was among the shortest in history after the bond market balked at her stimulus proposals. And central banks are tightening monetary policy and reducing the money supply to fight inflation rates that haven’t been this high since the early 1980s.

This is not to say that governments and central banks were wrong to act quickly and vigorously to support their economies and the global financial system. Imagine the alternative if they hadn’t. We could have looked at economic Armageddon. On the contrary, the speculative frenzies of the past decade that peaked during the pandemic and are causing so much financial pain today probably could have been avoided if central banks had not been forced to do all the heavy lifting in the decade following the financial crisis. Perhaps if the fiscal authorities had done their part at the time, the central bank’s quantitative easing programs could have been much more restrained, which would have helped contain the bubbles. This is the real lesson learned from all of this. More from Bloomberg’s opinion:

• FTX is a feature, not a bug, of financial innovation: Aaron Brown

• The Far West of crypto claims another victim: Lionel Laurent

• Crypto can survive FTX’s possible demise: Tyler Cowen

Want to know more about Bloomberg Opinion? {NOTICE }.

This column does not necessarily reflect the opinion of the Editorial Board or of Bloomberg LP and its owners.

Robert Burgess is the editor of Bloomberg Opinion. Previously, he was Global Editor of Financial Markets for Bloomberg News.

More stories like this are available at bloomberg.com/opinion

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More Colorado cities raised taxes on short-term rentals this election — and are using the money for affordable housing https://www.smlxtralarge.com/more-colorado-cities-raised-taxes-on-short-term-rentals-this-election-and-are-using-the-money-for-affordable-housing/ Fri, 11 Nov 2022 11:04:37 +0000 https://www.smlxtralarge.com/more-colorado-cities-raised-taxes-on-short-term-rentals-this-election-and-are-using-the-money-for-affordable-housing/ Housing affordability is a big issue for all Coloradans, which is evident from the slew of housing ballot measures in state and local elections this year. An increasingly popular proposition in resort communities is to levy higher taxes on short-term rentals like Airbnbs. On Tuesday, voters in several Colorado communities — Aspen, Carbondale, Dillon, Salida […]]]>

Housing affordability is a big issue for all Coloradans, which is evident from the slew of housing ballot measures in state and local elections this year.

An increasingly popular proposition in resort communities is to levy higher taxes on short-term rentals like Airbnbs. On Tuesday, voters in several Colorado communities — Aspen, Carbondale, Dillon, Salida and Steamboat — supported increasing the tax visitors pay when staying in a short-term rental in their communities. Other cities, including Crested Butte, Ouray and Telluride, passed similar measures last year.

In all of these locations, at least some of this money will be used to fund affordable housing initiatives.

The biggest increase in this year’s election was by steamer, where, starting next year, people will pay an additional 9% to stay at an Airbnb. The city estimates it could bring in around $11 million a year for the next 20 years.

“It’s a major local investment in housing and it’s going to open a lot of doors for us,said Jason Peasley, the head of Yampa Valley Housing Authority.

A significant portion of the revenue generated by the new tax at Steamboat will likely fund the housing authority’s Brown Ranch project – a plan to build more than 2,000 homes on 530 acres just outside the city limits. town. The project master plan includes both single and multi-family homes, shops, medical practices and open spaces. It also includes major infrastructure investments to expand the city’s water supply system and build roads.

The total development price for Brown Ranch is approximately $400 million. The money will come from various sources such as federal and state grants. It would have been much harder to raise funds if voters had rejected the short-term rental tax, Peasley said, in part because the government requires cities to invest their own money in such a project in order to receive grants. subsidies.

“I don’t think that would have completely eliminated the possibility that we could fund it. It would only delay the moment,” he said.

The explosion in the number of short-term rentals in Colorado resort areas – amplified by the pandemic – some residents blame them for gobbling up housing that would otherwise go to locals, and worsening a chronic housing shortage.

“[Short-term rentals] are an important part of our visitor accommodation and our tourism-based economies…but undoubtedly have many impacts on communities, on housing stocks,” said Margaret Bowes, Executive Director of the Colorado Ski Towns Association.

Higher taxes aren’t the only option to manage the growth of short-term rentals. For example, some communities have chosen to limit the number of short-term rentals allowed in town.

“There is no one-size-fits-all solution“, Bowes said.

Opponents of imposing higher tax rates say the added cost could scare away visitors and ultimately hurt tourism. But taxing short-term renters has so far garnered fairly broad support in Colorado’s resort areas. Final tallies for the 2022 election are yet to be certified, but it appears Grand Junction was the only city this year to vote against higher taxes on such visits.

Offie Clark is a snowboard instructor who lives in Carbondale. He was unaware of the short-term rental tax on the ballot, but said if he had, he would have voted for it. He doesn’t think the extra cost will make a difference to most people visiting Aspen and Snowmass.

“They will be able to absorb the price and will absorb almost any price increase,” Clark said.

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Find out who won Florida’s election for Attorney General, Commissioner of Agriculture and Chief Financial Officer https://www.smlxtralarge.com/find-out-who-won-floridas-election-for-attorney-general-commissioner-of-agriculture-and-chief-financial-officer/ Wed, 09 Nov 2022 03:14:55 +0000 https://www.smlxtralarge.com/find-out-who-won-floridas-election-for-attorney-general-commissioner-of-agriculture-and-chief-financial-officer/ TAMPA — Florida’s cabinet returned to an all-Republican formation on Tuesday as incumbent Senate Speaker Wilton Simpson was elected Agriculture Commissioner and Attorney General Ashley Moody and state Chief Financial Officer Jimmy Patronis won a second. mandate. The three Republicans were expected to win, as they dominated fundraising and the state Democratic Party was not […]]]>

TAMPA — Florida’s cabinet returned to an all-Republican formation on Tuesday as incumbent Senate Speaker Wilton Simpson was elected Agriculture Commissioner and Attorney General Ashley Moody and state Chief Financial Officer Jimmy Patronis won a second. mandate.

The three Republicans were expected to win, as they dominated fundraising and the state Democratic Party was not focused on races. Simpson defeated Naomi Blemur, while Moody defeated Aramis Ayala and Patronis defeated Adam Hattersley.

“It’s very important to remember that through all of this, these exciting times, through all of the pundits, the noise and the acrimony, the advertisements and the propaganda, we are choosing people we trust to govern in the name of us, the people,” Moody told supporters Tuesday night just before polls closed.

The candidates did not debate during the races, which were overshadowed by campaigns for governorship and a seat in the US Senate.

Simpson, who served as Senate president for the past two years and whose business interests include an egg farm in Trilby, will replace Agriculture Commissioner Nikki Fried in January, who unsuccessfully attempted the Democratic nomination for the post. governor this year.

“Floridians have shown the rest of the country that common sense is bipartisan in a staggering rejection of socialism, awakened the ideology and economic ignorance coming out of Washington and embraced by so many politicians who despise, instead of elevate the people we serve,” Simpson said in a statement prepared Tuesday evening.

The Cabinet was all-Republican from 2011 to 2019, teaming up with the then Governor. Rick Scott.

Fried, however, was elected in 2018. After taking office in January 2019, she regularly battled with Governor Ron DeSantis. She was the only Democrat elected statewide.

Patronis and Moody, meanwhile, regularly supported DeSantis, with Patronis saying in campaign literature that he was a “member of Governor DeSantis’ cabinet.”

Simpson said he would use the Cabinet position to bring a “strong voice, where we don’t hear each other”.

By 9 p.m., Moody had won 60 percent of the vote in his race, while Patronis and Simpson were each at about 59 percent, according to the state’s Division of Elections website.

Republicans have each won support from DeSantis and former President Donald Trump. The Democrats, meanwhile, had little money and relatively little visibility.

Blemur, a Miami native and the first Haitian-American to be a major party candidate for a Cabinet seat, lost party support just before the August primary election due to past comments on social media opposing the government. abortion and considered homophobic.

She sent an email on October 28 criticizing the treatment she received from party leaders.

“Despite the support of more than 50% of registered Democratic voters in the State of Florida (in the primary), there are those within the party who still refuse to recognize me as the legitimate candidate or to provide my campaign with the support generously extended to other party candidates,” Blemur said in a statement.

Ayala became the state’s first elected black prosecutor in 2016, winning the 9th Judicial Circuit in Orange and Osceola counties. Hattersley is a former Hillsborough County State Representative.

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Democrats forge ahead in Bay State leadership roles https://www.smlxtralarge.com/democrats-forge-ahead-in-bay-state-leadership-roles/ Thu, 03 Nov 2022 15:36:06 +0000 https://www.smlxtralarge.com/democrats-forge-ahead-in-bay-state-leadership-roles/ Media contacts: Emily Gowdey-Backus, Emily_GowdeyBackus@uml.edu; Nancy Cicco, Nancy_Cicco@uml.edu Detailed survey results and analysis are available at www.uml.edu/polls. Amid deep polarization, looming economic concerns and the retirement of a popular longtime governor, Democrats could sweep Massachusetts’ four constitutional seats in the 2022 midterm elections, according to the latest. findings of UMass Lowell’s Center for Public Opinion. […]]]>

Media contacts: Emily Gowdey-Backus, Emily_GowdeyBackus@uml.edu; Nancy Cicco, Nancy_Cicco@uml.edu

Detailed survey results and analysis are available at www.uml.edu/polls.

Amid deep polarization, looming economic concerns and the retirement of a popular longtime governor, Democrats could sweep Massachusetts’ four constitutional seats in the 2022 midterm elections, according to the latest. findings of UMass Lowell’s Center for Public Opinion.

“Maura Healey is about to break the curse that has plagued sitting attorneys general for more than half a century,” said associate professor of political science John Cluverius, director of polling research at the Center for Public Opinion. .

Attorney General Healey’s lead over former state Rep. Geoff Diehl stands at 59% to Diehl’s 32%, while libertarian Kevin Reed voted 3% in the gubernatorial race. Less than 0.5% of likely voters in Massachusetts say they support another candidate and 6% remained undecided two weeks before the midterms.

A June 2022 UMass Lowell Center for Public Opinion poll reported a similar margin, though many other midsummer respondents said they were undecided.

Healey leads Diehl in all income, race, gender, education and age categories. Men prefer Healey 50% to 39% while women prefer Healey 66% to 26%.

The other Massachusetts Democrats also lead each of the three additional statewide races:

  • Attorney General: Former Boston City Councilwoman Andrea Campbell leads with 55% to attorney Jay McMahon’s 28%. (16% undecided)
  • Secretary of State: Democratic incumbent Bill Galvin holds 58% against 24% for activist Rayla Campbell and 3% for green/rainbow social worker Juan Sanchez. (15% undecided)
  • State Auditor: In what was expected to be the tightest of statewide races, Diana DiZoglio leads safety pro Anthony Amore 44% to 29%. All the other candidates in the listenership race have less than 5% support. (19% undecided)

Previous elections this year paired running mates Kim Driscoll with Healey and Leah Cole Allen with Diehl as candidates for lieutenant governor and were therefore not questioned in the Center for Public Opinion’s latest findings.

Even though he’s about to retire and the Democrats could likely sweep the statewide midterm elections, Republican Gov. Charlie Baker remains popular among both parties. Uniting Bay Staters, he is more popular among Democrats (82%) than in his own party (57%).

Polarization unites Massachusetts residents as ‘Tax-achusetts’ moniker lives on

“Thanksgiving can be tough this year as families come together after two years of pandemic restrictions over dinner to squabble when the conversation turns to dessert midterms,” said Cluverius of the noted division among Bay Staters. in the latest poll results.

When it comes to the four ballot initiatives offered to voters in Massachusetts this year, Republicans are overwhelmingly calling for a no vote on all four initiatives while their Democratic counterparts are pushing for the opposite. Break down :

With a split of 5 percentage points, Question 3 stands out as the closest electoral competition to the Center for Public Opinion’s 2022 midterm poll. It also reflects a noticeable age gap in which voters between the ages of 18 and 44 are in favor (51% vs. 37%) and those over 45 are evenly split at 41%. Watching it closely, Cluverius said, given that 15% of respondents reported indecision and the amount of money backing the no side, question 3 is the only four-vote question with a good chance of winning. fail.

“A classic David versus Goliath ballot initiative,” said political science professor Joshua Dyck, director of the Center for Public Opinion. “Question 3 pits a coalition of local business owners against corporate giant Total Wine. It’s a very familiar setup where big money can often raise doubts and encourage No votes in the final days of an initiative campaign It will take a substantial campaign effort from the Yes side to stem the tide.

Regarding the final statewide ballot initiative, Cluverius said, “Opponents of driver’s licenses for people living illegally in the country of Massachusetts have one person to blame for the strong numbers of Yes to the question 4: Florida Governor Ron DeSantis. The relocation of migrants to Martha’s Vineyard has made Massachusetts voters more sympathetic to those seeking a better life in America and wary of outside interference in the state.

New Hampshire: Democrats in Washington, Republicans in Concord

By splitting their ballots, the data suggests New Hampshire voters will likely return a Democrat to the US Senate while re-electing a Republican to lead the state as governor.

While less than half of New Hampshire voters approve of President Joe Biden’s performance and nearly seven in 10 characterize the country as heading in the wrong direction, Democratic Senator Maggie Hassan holds a 51% to 41% lead over her Republican opponent, retired Army Brick. General Don Bolduc.

Education levels among voters separate the candidates. Among respondents with a college degree, Hassan leads 63% to 32% while Bolduc leads 48% to 42% among respondents without a college degree.

Incumbent Republican Governor Chris Sununu leads his opponent, Democratic Senator Tom Sherman, 51% to 35%. Nearly two-thirds (63%) of Granite State respondents approve of Sununu’s performance. However, in what may be Sherman’s biggest hurdle, with two weeks to go, more than a quarter (26%) of respondents had no opinion of him while 16% said they had never heard of him.

“These are tough numbers for a challenger in the final weeks of an election,” Cluverius said.

contagious negativity

With nearly identical prospects and a resounding agreement, the country is on the wrong track, with political unrest, current events and cultural phenomena shaping the outlook of neighboring voters in Massachusetts and New Hampshire.

“Voters from all political walks of life share a lack of optimism,” Cluverius said.

If history were to repeat itself and Joseph Biden and Donald Trump found themselves in a rematch in 2024, voters in New Hampshire (49%) and Massachusetts (58%) would return the Democrat to power.

The winter of 2022-2023 could turn out to be a season of economic concerns and inflation fears for residents of Massachusetts and New Hampshire. But distribution is more difficult for low-income people. As home heating prices double and triple across the world, residents of both states earning less than $50,000 a year say they expect it to be harder to afford regular monthly payments like such as housing, utilities, food, medical care or car payments over the next six years. month.

At 77% and 78%, respectively, voters in New Hampshire and Massachusetts support a woman’s right to an abortion in every state in the nation. This support transcends political parties:

  • 59% New Hampshire Republicans, 98% Democrats, and 71% Independents
  • 52% Massachusetts Republicans, 94% Democrats, and 69% Independents

To read the full questionnaire, key findings and access the detailed methodology disclosure, please visit uml.edu/polls. The polls were conducted among 1,000 likely voters in Massachusetts and 600 voters in New Hampshire between October 14 and 25. Massachusetts data has a +/- 4.1 percentage point margin of error and New Hampshire data has a +/- 5.1 percentage point margin of error.

About the Center for Public Opinion

The Center for Public Opinion presents events and polls on political and social issues to provide opportunities for civic engagement, experiential learning, and real-world research. The center is a member of the American Association for Public Opinion Research (AAPOR) Transparency Initiative.

UMass Lowell is a national research university located on a high-energy campus at the heart of a global community. The university offers its students bachelor’s, master’s and doctoral degrees in business, education, engineering, fine arts, health, humanities, sciences and social sciences. UMass Lowell offers high-quality educational programs, vigorous hands-on learning, and personal attention from top faculty and staff, preparing all graduates to be leaders in their communities and around the world. www.uml.edu

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Inside the Republican Crack on Ukraine Aid https://www.smlxtralarge.com/inside-the-republican-crack-on-ukraine-aid/ Tue, 01 Nov 2022 03:05:00 +0000 https://www.smlxtralarge.com/inside-the-republican-crack-on-ukraine-aid/ Comment this story Comment In Ohio, Senate candidate JD Vance (R) said the United States should “stop the money tap to Ukraine eventually.” JR Majewski, a fellow Republican from Ohio running for a House seat, criticized President Biden for “[cutting] billion dollar checks to Ukraine” during a period of inflation in the country. In New […]]]>

Comment

In Ohio, Senate candidate JD Vance (R) said the United States should “stop the money tap to Ukraine eventually.” JR Majewski, a fellow Republican from Ohio running for a House seat, criticized President Biden for “[cutting] billion dollar checks to Ukraine” during a period of inflation in the country. In New Hampshire, Senate candidate Don Bolduc (right) said US aid to Ukraine was “money we don’t have”.

Opposition to — or skepticism of — sending more US money to Ukraine has accelerated within the GOP in recent weeks, with House Minority Leader Kevin McCarthy (R-Calif.) posting earlier this month that Republicans would end or limit war spending if they take control of the House next week halfway.

The threat to cut funding marks a watershed moment for a party whose members almost universally agreed to help Ukraine after Russia invaded in February. Over the past eight months, supporters of former President Donald Trump have joined skeptics of military intervention and anti-Biden forces within the GOP to challenge traditionally warmongering Republicans.

The result is a rare crack in the GOP, likely to turn into a more open battle if Republicans retake Congress and face strong demands from Biden and emotional pleas from Ukrainian President Volodymyr Zelensky.

Just last week, a group of Republican lawmakers opposite a provision Democrats had inserted into a must-have defense authorization bill that would allow the Justice Department to send millions of dollars in yachts and other assets seized from Russia to Ukraine.

Most Republicans, like Vance and Bolduc, frame their objections in terms of fiscal responsibility, saying the money would be better spent on problems at home. In a few cases, far-right candidates have echoed Trump’s praise of Russian President Vladimir Putin and called for the aid to be cut altogether.

Biden slams Republicans for threatening Ukraine aid

But the GOP is also home to a slew of old-school hawks who promise to continue supporting Kyiv and, in some cases, have called on the White House to do even more.

In a stark departure from McCarthy’s comments, Senate Minority Leader Mitch McConnell (R-Ky.) called the exact opposite: He urged the Biden administration “to do more to provide the tools Ukraine needs.” needs to thwart Russian aggression”, including further assistance. McConnell said that if the GOP regains the Senate, the Republican majority “would focus its oversight on the rapid delivery of needed weapons and greater allied assistance to Ukraine.”

Several Republicans are privately expressing skepticism that McCarthy and a Republican-led House would cut aid all together, saying his comments likely included some measure of pre-midterm posturing. Republican House members who are on their way to powerful committee positions may find themselves trying to bridge the gap between insurgents and traditionalists.

Even so, Republican divisions present a challenge for President Biden, who has worked to hold together a national and global coalition to support Ukraine in a context of increasing gas price and a global hunger crisis. Biden and his top aides said they would support Ukraine “as long as it takes” and would not force Zelensky to the negotiating table.

The large number of Republicans questioning the current role of the United States in the Ukraine conflict is a marked change for a party that has often been led by hawks who have fought to spend more money on military efforts.

That sentiment was personified by Sen. John McCain (R-Arizona), a former prisoner of war who advocated forcefully for US military interventions in Iraq, Libya, Syria and elsewhere. McCain, who has often fought with Trump, died in 2018silencing an influential voice on Republican foreign policy.

During the Trump presidency, when the former president sporadically called for the United States to withdraw its troops from Syria or Afghanistan, his feelings were quickly reversed by the Republicans who were under his command. Under Biden, however, skepticism of US aid to Ukraine is finding wider constituency within the Republican Party.

This includes a network of young conservatives, many centered on groups such as Concerned Veterans for America and Stand Together, who seek to steer the party away from its post-9/11 neoconservatism and focus on power projection. military.

“We don’t believe that blank checks for Ukraine are best for the security of the United States or Ukraine,” said Dan Caldwell, vice president for foreign policy at Stand Together, a group backed by billionaire industrialist Charles Koch.

Caldwell, like some progressive legislators across the aisle called on the Biden administration to play a bigger role in pushing for a negotiated end to the conflict sooner rather than later. “It’s immoral to keep urging people to fight a war that we think they can’t win,” he said.

Democrats remained largely united behind aid to Ukraine, though a group of 30 progressive lawmakers last week sent a letter to the White House urging Biden to pursue direct negotiations with Russia and begin working on a diplomatic path to end the war. They called on Biden to pair the unprecedented economic and military support the United States is providing Ukraine with a “proactive diplomatic push, redoubling efforts to seek a realistic framework for a ceasefire.”

But the leader of the effort, Rep. Pramila Jayapal (D-Wash.), canceled the letter less than 24 hours later after a backlash from fellow Democrats, expressing unwavering support for Biden’s approach to war.

Democrats, and even Republicans, have said some of the GOP’s skepticism about aid to Ukraine stems from opposition to Biden. A central pillar of his presidency has been the effort to rally a coalition of Western leaders who have implemented tough sanctions on Russia and maintained support for Ukraine even as their countries have suffered severe economic disruption.

“There’s an element of Republican hostility toward Ukraine that stems from their hatred of Joe Biden,” said Sen. Chris Murphy (D-Conn.). “Initially, Republicans were ready to support Ukraine, but as Joe Biden has had more success in defending Ukraine and more of his identity is attached to defending Ukraine, it draws Republican hostility because they just can’t bear to be on the same side as Joe Biden on anything.

Yet Congress has so far provided almost all the aid and arms the White House has requested — amounting to more than $60 billion — with overwhelming bipartisan support. Even if Republicans take control of both chambers, the challenge for Biden will be far greater in the House, which will have a significant number of Trump-aligned insurgents.

Some Republicans have said the desire to look at the billions in aid suddenly coming out is entirely reasonable.

“I think what those statements reflect is that aid is not a blank check and it’s not unlimited, but it’s very different from saying, ‘We’re going to cut you up and deliver you to the Putin’s dogs,” Whit said. Ayres, a GOP pollster. “It is inconceivable that there could be a significant majority of the entire House, Democrats and Republicans, who would want to leave Ukraine in the clutches of Vladimir Putin.”

Sen. James E. Risch (R-Idaho), who would chair the Foreign Relations Committee if the GOP takes over, voiced his wholehearted support for the war effort and signaled no change in Republican support for the aid and armament programs.

“Only the Ukrainians should decide the future of Ukraine. I support their fight for freedom, which they win on the battlefield,” Risch said in a statement to The Washington Post. “Any effort to appease Putin is dangerous, irresponsible and will only encourage Russian aggression.”

Rep. Michael McCaul (R-Tex.), who is set to become the chairman of the House Foreign Affairs Committee, has tried to incorporate elements of both traditionalists and insurgents, narrative Bloomberg TV, he wants more powerful weapons sent to Ukraine, but also “more oversight and accountability in terms of funding”.

Some Republicans favor a measure drafted by Sen. Rand Paul (R-Ky.) earlier this year that would appoint an inspector general to oversee how Ukrainian funds are spent. Paul did not attach the legislation to the $40 billion package for Ukraine, but he shared his thoughts on oversight of Ukraine during a closed meeting with House lawmakers in May, a trade that could bear fruit next year if Republicans take control of the House.

Democrats argued that the money was desperately needed as Ukrainians fought a ruthless Russian enemy, and that imposing traditional surveillance rules would only hurt Ukraine.

“There’s no information to suggest any of those dollars are being misused, and the priority is speed,” Murphy said. “You have to get the money out, so in the absence of evidence of misuse of dollars, I don’t know why we would punish the Ukrainians by slowing down the whole process.”

Polls have shown that domestic support for Ukraine is softening, especially among Republicans. In March, 9% of Republicans and Republican-leaning independents said the United States was providing too much aid to Ukraine, according to a Pew research center. investigation. In a follow-up survey this fall, that figure jumped to 32%.

In the higher Republican circles, the debate on aid to Ukraine is increasingly vigorous. In late October, former Vice President Mike Pence attempted to rally support for aid to Ukraine in a speech to the Heritage Foundation, a well-known conservative think tank. “Conservatives need to make it clear that Putin has to stop and Putin will pay,” Pence said.

But after the speech, a handful of prominent Republicans publicly stood up to the former vice president. Heritage Chairman Kevin Roberts issued a rejoinder saying Republicans should be “on guard against any attempt to spend more money recklessly.”

“Biden owes the American people a concrete strategy on our future role that doesn’t leave us mired in a state of perpetual conflict management funded by American taxpayers,” Roberts said.

And former Pence staffer Russ Vought, who also served as Trump’s budget chief, told C-SPAN he disagreed with Pence’s remarks.

“I have a lot of respect for my former boss, but when we’re spending $54 billion to support Ukraine, that’s more than key federal government departments,” Vought said.

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Here’s how to choose a fund manager for your National Pension System investment https://www.smlxtralarge.com/heres-how-to-choose-a-fund-manager-for-your-national-pension-system-investment/ Sat, 29 Oct 2022 03:24:11 +0000 https://www.smlxtralarge.com/heres-how-to-choose-a-fund-manager-for-your-national-pension-system-investment/ The National Pension System (NPS) is a voluntary contributory pension system which aims to provide retirement income in retirement through market-linked returns. Any Indian citizen between the ages of 18 and 65 can open an NPS account. Non-resident Indians (NRIs) can also open an NPS account. The pension scheme now manages over Rs 7.73 lakh […]]]>

The National Pension System (NPS) is a voluntary contributory pension system which aims to provide retirement income in retirement through market-linked returns. Any Indian citizen between the ages of 18 and 65 can open an NPS account. Non-resident Indians (NRIs) can also open an NPS account.

The pension scheme now manages over Rs 7.73 lakh crore as pension assets of government and private sector employees.

According to tax and investment experts, one should choose a fund manager carefully while investing in the NPS.

Amar Ranu, Head of Investment Products and Advisory at Anand Rathi Shares and Stock Brokers, explains Amar Ranu: “Although NPS is a low-cost retirement product, choosing the right fund manager is the most important task. However, unlike mutual funds (MFs), NPS information is available in a very limited capacity in the public domain, and no one provider collects the data holistically. NPS managers.

Previously, there were seven NPS managers; however, four more have been added recently, bringing the total number of fund managers to 11. Thus, the task becomes even more daunting for retail investors to select the right fund manager. The four asset managers who recently received certification for NPS asset management are: Axis Asset Management, DSP Investment Managers, Tata Pension Funds and Max Life Pensions.

Ranu adds, “Seeing historical performance, more or less, all fund managers have identical performance differing a few basis points up or down except LIC Pension Fund which is underperforming. widely. However, among the pack, HDFC Pension Fund is the top performer based on a three- and five-year track record. Not all pension managers have bitten the index indicator, Nifty 50 SORTING.

Moreover, these fund managers were mostly managing their portfolios passively, largely replicating indices and sticking to large caps, thus playing it safe. However, they have now started adding mid caps and are actively managing them, which can result in additional alpha over benchmarks, as we have seen with mutual funds. However, according to experts, one should not just look at performance when selecting the fund manager. The risk taken to obtain the return must also be taken into account – the standard deviation is the right tool.

So here’s how you can choose the right fund manager for your NPS investment.

1]First, choose between automatic and active fund management modes. If you have chosen an equity exposure above 50%, it is advisable to choose the active mode instead of the automatic mode.

2]Next, choose the fund manager. You can view fund performance to date to understand how funds managed by a particular fund manager have performed over time. If your exposure to debt is high, check the performance of the debt funds managed by the fund manager. Similarly, if your equity exposure is greater, check the performance of equity funds managed by the fund manager.

Adhil Shetty, CEO and Founder of BankBazaar.com, a financial services website, says, “Keep reviewing your selected fund manager’s performance after you start investing. If you are not convinced that the return it has given is equal to that of other similar funds, you have the option of changing the fund manager once a year.

3]Rolling returns will only give you an idea of ​​how the fund is performing. You should review it from time to time to ensure that the performance is comparable to that of other funds in the same category.

Ranu adds, “The consistency of rolling returns over three- and five-year periods is the best tool for deciding on the risk taken. However, switching fund managers based on short-term performance should be avoided. On the contrary, you have to see the performance of the fund over a longer horizon.

4]Evaluate the performance of your fund manager. If you are not satisfied with the performance it has given, change the fund manager. NPS subscribers are allowed to change fund manager once a year.

5]Finally, as Ranu suggests, it would be best to see the portfolio and positioning before selecting the fund manager. However, the availability of wallet data is limited.

“With the increase in the number of fund managers, there is going to be tough competition among fund managers to offer the best, which is good for all stakeholders, including investors,” Ranu adds.

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Fetterman in Philadelphia: ‘I support issues compatible with urban voters’ https://www.smlxtralarge.com/fetterman-in-philadelphia-i-support-issues-compatible-with-urban-voters/ Sat, 22 Oct 2022 10:57:22 +0000 https://www.smlxtralarge.com/fetterman-in-philadelphia-i-support-issues-compatible-with-urban-voters/ “I support the union way of life and I really want to pass the PRO law,” said Fetterman, who made his comments during an editorial board meeting with Philadelphia Tribune executives and staff via Google Meet. Asked about his health and recovery, Fetterman, 53, was candid. “I’m fine. I definitely have challenges after having a […]]]>

“I support the union way of life and I really want to pass the PRO law,” said Fetterman, who made his comments during an editorial board meeting with Philadelphia Tribune executives and staff via Google Meet.

Asked about his health and recovery, Fetterman, 53, was candid.

“I’m fine. I definitely have challenges after having a stroke. I really try to be transparent about it,” Fetterman said. “Sometimes I miss a word and sometimes I have those times where I am not exactly so expressive. But overall, I think I’m getting better every day. I’m not 100%, but I’m definitely much better than when I had a stroke in May.

On Wednesday, Fetterman’s campaign released a medical report to the media from its physician, Clifford Chen, which states that the candidate is “recovering well from his stroke and his health has continued to improve” and said that he “has no work restrictions and can work full-time in the civil service.

The Tribune endorsed Fetterman in the May 17 primary election.

Fetterman and Oz are running for the U.S. Senate seat vacated by incumbent Republican Pat Tomey, who is not seeking re-election, after serving in the Senate since 2011.

On November 8, the people of Pennsylvania will choose a senator, governor, lieutenant governor and other elected officials. This race has national implications, as it may help decide which party controls the US Senate after the midterm elections in November.

True, the airwaves of state television and radio were flooded with television advertisements from both sides. OpenSecrets, a Washington, D.C.-based nonprofit group that tracks campaign spending, said it expects more than $9.3 billion to be spent on the federal midterm elections this year, compared to $7.1 billion spent on the 2018 midterm elections.

Political analysts said the race in Pennsylvania could exceed $160 million in total spending, which would be a record.

For example, the Fetterman campaign raised $47.9 million, with more than half or 53.4% ​​from small donors, who contributed $200 or less, according to OpenSecrets. So far, the Fetterman campaign has spent $43.7 million and has $4.1 million available, the nonprofit reported.

By contrast, the Oz campaign raised $34.8 million, most of it more than $21 million, or 60% from the candidate’s money, according to OpenSecrets. Ten percent of that money came from small donors, who contributed $200 or less. The Oz campaign has spent $32.3 million and has $2.5 million available.

“Education is the great equalizer,” Fetterman said. “As Governor Wolf’s partner, the education expansion was unprecedented, but Republicans cut the purse strings and didn’t allow much of that money to go to Philadelphia. “

And Fetterman promised to listen to local leaders to build consensus on reducing gun violence, but also said he supported US attorney Jacqueline C. Romero’s efforts to crack down on gun trafficking and straw purchases. On October 13, Romero’s office announced the indictment of a Philadelphia man for illegally selling five semi-automatic rifles and drug trafficking.

“I hope they vote for me because I’ve spent my entire career, whether as a GED instructor, as mayor, or as lieutenant governor, working on issues that I think are compatible. with people living in urban areas,” Fetterman said. .

Before becoming mayor of Braddock, a borough of about 2,000 people near Pittsburgh, Fetterman said there was a big problem with gun violence, but he said he worked with community members and law enforcement to resolve the issue. Fetterman served as mayor there from 2006 to 2019.

“I think I’m the best choice, especially when my opponent Oz is on the side of Donald Trump who thinks Philadelphia is a place where only bad things happen,” he said. “I think I would be the senator best suited to defend these issues, as opposed to Dr. Oz.”

Stephen Williams is a reporter for the Philadelphia Tribune, where this story first appeared.

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