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China is ending most foreign adoptions of its children, leaving hundreds of American and other foreign families with pending applications in limbo.

Since the early 1990s, China has sent tens of thousands of adoptees overseas – with about half arriving in the United States – as its draconian one-child policy forced many families to abandon children, especially girls and babies with disabilities.

But in recent decades, as China’s economy boomed and births slowed, international adoptions of Chinese children have declined in number. Since the Covid-19 pandemic began, they have largely been on hold.

Now the Chinese government is officially ending the program – which it said is in line with global trends, but also comes as officials try to reverse the country’s sharply declining birthrates and avert a looming demographic crisis.

China’s Foreign Ministry announced Thursday that no more Chinese children would be sent abroad for adoption. The only exceptions will be for foreigners adopting the children or stepchildren of blood relatives in China.

“This is in line with the spirit of relevant international conventions,” the ministry’s spokesperson Mao Ning told a regular news conference. “We are grateful for the desire and love of the governments and adoptive families of relevant countries to adopt Chinese children.”

The ban raises uncertainty for hundreds of American families currently in the process of adopting children from China.

The US embassy in Beijing is seeking clarification in writing from China’s Ministry of Civil Affairs on the new directive, the State Department said Thursday, according to the Associated Press.

In a phone call with US diplomats in China, Beijing said it “will not continue to process cases at any stage” other than those covered by an exception clause, AP reported.

“We understand there are hundreds of families still pending completion of their adoption, and we sympathize with their situation,” the State Department said.

More than 160,000 Chinese children have been adopted into families all over the world since China officially opened its doors to international adoption in 1992, according to China’s Children International, an international organization created by and for Chinese adoptees. About half of these children have been adopted to the US.

Between 1999 and 2023, American parents adopted 82,674 children from China, accounting for 29% of all US adoptions, according to data from the US State Department.

China suspended international adoptions in 2020 during the pandemic to “ensure the health and safety” of the children, according to a notice from the US State Department on intercountry adoptions from China at the time.

No Chinese children were sent to the US for adoption in 2021 or 2022. Last year, 16 children were adopted from China, according to the US State Department.

Beijing scrapped its decades-long and highly controversial “one child” policy after realizing the restriction had contributed to a rapidly aging population and shrinking workforce that could severely distress the country’s economic and social stability.

To arrest the falling birth rate, the Chinese government announced in 2015 that it would allow married couples to have two children. But after a brief uptick in 2016, the national birth rate has continued to fall.

Policymakers further relaxed limits on births in 2021, allowing three children, and ramped up efforts to encourage larger families, including strengthening maternity leave and offering tax deductions and other perks to families.

But those efforts have yet to see results amid changing gender norms, the high cost of living and education, and looming economic uncertainty.

This post appeared first on cnn.com

It’s been described as the most important company in the world at the moment.

But new concerns surrounding Nvidia, the chipmaker powering the artificial intelligence revolution — and which this summer became America’s second-largest public company, behind Apple, when its valuation surpassed $3 trillion — have prompted a fresh global market sell-off.  

On Tuesday, Nvidia shares dropped 9.5%, erasing $278.9 billion from the company’s value — the biggest such single-day loss ever for a U.S. stock.

A host of factors appear to have helped drive the sell-off, which also sparked losses in broader market indexes like the Nasdaq Composite and Dow Jones Industrial Average.

Nvidia’s stock has become a bellwether for the global economy as a whole, as it has helped drive a boom in investment from large tech companies that have looked to AI to drive new innovation — and profit.

On Wednesday, its share price declined another 1.7%. Its overall market capitalization — the value of the company based on its shares — remains around $2.6 trillion.

“The surge in NVIDIA’s earnings comes from the massive investment in AI being done by the other big tech companies,” Dario Perkins, managing director at TS Lombard financial group, wrote in a commentary this week. 

“This creates a circular dynamic that leaves NVIDIA (and now the US stock market in general) dependent on continued big AI investments.” If the five-largest publicly traded companies, like Amazon and Microsoft, stop investing in Nvidia, Perkins said, “we could have a problem.”

Nvidia was once known for making graphics cards for computer games. But in a somewhat fortuitous twist, these cards happen to be perfect for handling the computing load AI requires to perform its tasks. 

As a result, Microsoft and Facebook-parent Meta both now spend more than 40% of their budgets for hardware on Nvidia gear.

Nvidia is now so closely followed that a group of market watchers held a meetup at a bar last month to watch the company report its quarterly earnings — though some later viewed the event itself as a sell signal.

“Nvidia has changed the tech and global landscape as its [graphics processing units] have become the new oil and gold in the IT landscape, with its chips powering the AI revolution and being the only game in town for now,” Wedbush Securities analyst Dan Ives wrote in a recent note.

But growing fears of a broader economic slowdown, as well as renewed skepticism about the timetable for a payoff from AI — basically, how soon all the current investment flowing into it will ultimately lead to well-defined use cases and greater profitability have helped drag Nvidia’s stock price down. 

“I don’t think AI will measure up to the internet in my opinion,” Daron Acemoglu, an economist with the Massachusetts Institute of Technology, said in an interview with the Financial Times this week, calling the technology “a few-trick pony.”

“AI has some great capabilities, but it does not have the same breadth of impacting pretty much everything we do and creating lots of new things yet,” Acemoglu said. “It might, but when it does, perhaps we’ll call that a new technology, perhaps that will be another 10 years, and so on.”

The skepticism has coincided with fresh economic warning signals. In the U.S., the labor market has begun to show unmistakable signs of weakness following the jobs boom that accompanied a broader economic recovery from the Covid pandemic. In China, problems in the housing sector have begun to weigh on consumption. Oil prices, which tend to track global economic activity, have fallen to their lowest levels in three years.

Meanwhile, a pair of new reports this week cast fresh doubt about when AI investments will pay off.   

“Investors are debating whether future revenues for top tech and cloud computing firms could justify billions of dollars of capital spending being poured into artificial intelligence (AI),” analysts with BlackRock Investment Institute wrote. 

A similar note of caution was sounded in commentary from JP Morgan Asset management, which said that companies would have to start to meaningfully shift emphasis from “training” to “production” for “adequate returns on AI infrastructure to materialize.”  

Complicating matters further was a report Tuesday from Bloomberg News that the Justice Department had begun looking into antitrust issues surrounding Nvidia, which is estimated to maintain at least 90% market share in AI chips for the next two years.

Another factor: Intel, once the dominant force in U.S. computer chips, has seen its share price decline 54% this year and, according to a Reuters report, is now in danger of being delisted from the Dow Jones Industrial Average. While investors have punished Intel for failing to adequately take advantage of the AI boom, it is likely that broader concerns about its payoff added to its losses.   

Steve Sosnick, chief strategist at Interactive Brokers financial group, told NBC News in an email that, even as it has powered higher, Nvidia remains one of the most volatile stocks on the market, meaning its price is subject to large changes, both higher and lower.

“So investors who believe in the company had better get used to the swings,” Sosnick wrote. “Investors love volatility on the way up (aka ‘socially acceptable volatility’) but hate it on the way down. Unfortunately, one usually brings the other.”

Tuesday’s sell-off is far from a death-blow for Nvidia’s stock price, which has more than doubled in 2024, to about $109. The tech-heavy Nasdaq index, too, remains 16% higher on the year, and since 2023 has climbed by nearly two-thirds.

Sosnick says much of the selling of Nvidia’s stock, which trades as NVDA, may ultimately have to do with investment managers making sure they cement the outsized price increase the company’s shares have already seen this year.

“I believe that while individual investors remain understandably enamored with NVDA — heck, many of them made a lot of money — I believe that institutional investors are taking a more sober view, focusing on locking in gains in the back half of the year, and that is pressuring the stock,” Sosnick said. “They understand that no one ever went broke taking a profit.”

This post appeared first on NBC NEWS

In 2021, the National Football League signed an 11-year, $111 billion media rights deal. In July, the National Basketball Association signed an 11-year, $77 billion deal of its own.

What’s next? Well, not much all that soon.

While Ultimate Fighting Championship and Formula 1 have deals expiring in 2025, the vast majority of major college and professional sports have recently signed long-term media rights deals with U.S. TV networks and streamers.

Welcome to the sports media rights doldrums. Or, the calm before the storm.

The NFL can opt out of its current deal with all of its media partners — except Disney, which has a slightly different deal structure — after the 2028-29 season. By that time, driven by the pace of change among the largest media companies, the entire landscape could be significantly different than it is today, dramatically altering how much revenue leagues generate and who is paying.

“Anyone telling you with any degree of certainty the NFL is going to opt out or not is bananas,” said Daniel Cohen, executive vice president of global media rights consulting at Octagon. “There’s so much you can’t predict even two years out, never mind six.”

The NFL’s opt-out decision, while years away, is the next potential tectonic shift that will influence the balance of power in media. It’s possible the NFL could choose to end deals with longtime Sunday afternoon media providers such as Fox and Paramount Global’s CBS in favor of streamers, such as Apple, Amazon, Google’s YouTube or even Netflix.

It will also be a significant driver of future NFL team valuations. On Thursday, CNBC will reveal its Official 2024 NFL Team Valuations list, ranking all 32 professional franchises.

Given the current state of media, with Paramount Global agreeing to merge with Skydance Media by mid-2025, Warner Bros. Discovery actively looking for partners to build scale and share the cost of content, and Netflix jumping into live sports with its acquisition of Christmas Day NFL games, the potential bidders for games in four to five years could be dramatically different than today. That will determine how much of an increase the NFL may get on its next rights deal.

“There probably will be companies that don’t exist today that will merge to create new competitive bidders,” said former CBS Sports President Neal Pilson, who founded sports media consulting firm Pilson Communications. “Other deals, like the NBA, are a data point, but the NFL is its own marketplace. The programming is the honey. It’s all driven by the popularity of the NFL.”

Another determination of how much sports media rights deals will escalate in the future will be the state of the dwindling pay TV bundle. There have been 4 million pay TV customer losses this year to date, “a mindboggling total for just six months,” according to a recent MoffettNathanson report.

Live sports has long been the glue holding the bundle together, and a majority of viewership still comes from traditional TV versus streaming.

The economics of the bundle — still a cash cow for content providers like Disney and Comcast’s NBCUniversal — have driven rights increases for decades. Meanwhile, streaming has yet to turn a profit for most media companies.

Traditionally, the reach of broadcast networks, particularly in rural areas that still don’t have consistent high-speed internet, has caused the NFL to value Fox, Disney, NBCUniversal and CBS — all of which own broadcast networks. Most NFL games air on national broadcasters.

The NBA has also replaced its partnership with Warner Bros. Discovery, which doesn’t own a broadcast network, with NBCUniversal, which does.

But four years from now, it’s possible the ongoing shift to streaming, combined with Big Tech’s deeper pockets, will convince the NFL to view broadcasting as anachronistic rather than essential.

On the other hand, if streamers become the sole distributors of sports, they’ll have all the market power, which could stifle valuations.

“If you put all your eggs in the streaming parties’ baskets, and if legacy media is hobbled to the point they can’t pay for media rights anymore, then you’re giving streamers a lot of market power,” said Shirin Malkani, co-chair of the sports industry group at Perkins Coie.

Bank of America recently put together a chart of recent media rights deals and their estimated values. Some of the numbers are slightly different than reported figures.

The National Hockey League’s deal with its media partners lasts through the 2027-28 season.

Major League Baseball’s deal is up in 2028 — and will likely be shaped more by the expiration of the players’ collective bargaining agreement in 2026 than the state of the media industry. Still, the vastly changing regional sports business, on top of the traditional TV landscape, could make MLB a litmus test for the rights deals that follow.

The PGA Tour’s media deal runs through 2030. NBCUniversal owns the Winter Olympics until 2030 and the Summer Olympics until 2032. NASCAR signed a contract late last year with media carriers until 2031. ESPN locked up the College Football Playoffs until 2031. Apple inked a deal for Major League Soccer until 2032.

The long-term nature of these deals has given the current media ecosystem some certainty. That’s a benefit for the leagues, media companies and pay TV providers, who all rely on the consistency of cash flow.

“My advice to clients is that if you’re in a deal that feels fair right now, or that is analytically fair to good, don’t go searching for something great,” said Octagon’s Cohen, who represents several professional sports leagues in their media deals. “Things will keep evolving over the next six years, so it’s best to hold onto a good deal.”

Disclosure: Comcast’s NBCUniversal is the parent company of CNBC.

This post appeared first on NBC NEWS

There is a $2 billion gulf growing in Los Angeles.

The National Football League’s Los Angeles Rams, No. 2 on CNBC’s Official 2024 NFL Team Valuations list, are worth $8 billion, while the Los Angeles Chargers rank 26th at a value of $5.83 billion.

While the Rams have a recent Super Bowl to their name and the Chargers don’t, the gap in value is about much more than team performance. It comes down to stadium economics.

Both teams play in SoFi Stadium, which Rams owner Stanley Kroenke financed to the tune of more than $5 billion. Kroenke owns and operates the stadium. The Chargers, owned by the Spanos family, are just tenants.

The Rams get about 85% of the stadium’s revenue from luxury suites and sponsorships, as well as all the revenue from non-NFL events, according to a person familiar with the matter. That leaves about 15% of suite and sponsorship revenue for the Chargers — and no money from non-NFL events.

That means, for example, when pop star Taylor Swift sold out six nights at SoFi Stadium in August 2023 during her Eras Tour, the Chargers got no piece of the pie.

The mega tour was a boon for several NFL teams last year. A person familiar with the matter told CNBC that a particular stop on the Eras Tour netted $4 million in revenue per show for the hosting stadium.

Stadium economics count a lot in the pecking order of NFL valuations because $13.68 billion, or 67%, of the league’s $20.47 billion in revenue was shared equally among the 32 teams in 2023. The vast majority of that $13.68 billion comes from national media rights plus sponsorship and licensing deals. But teams do not share revenue from stadium suites, hospitality and sponsorships — and that is where some franchises can pull away in value.

On top of the six Swift concerts, SoFi Stadium also hosted performances last year by Beyoncé, Ed Sheeran, Metallica and Pink. The Rams would keep 100% of that revenue.

The franchise also gets to keep the full $625 million of SoFi’s stadium naming rights, which last 20 years through the 2039 season.

It is a unique revenue share structure in the NFL. The only other franchises to share a stadium, the New York Giants and the New York Jets, split stadium revenue down the middle, according to CNBC sources, and are just about $500 million apart in overall franchise value, according to CNBC’s 2024 list. That is a significantly smaller margin than the LA teams.

Last year, the Rams were second in the NFL in sponsorship revenue, behind only the Dallas Cowboys, who are No. 1 in overall value on CNBC’s 2024 list and are fast approaching $250 million in sponsorship revenue, according to a person familiar with the team’s finances.

The Rams’ sponsorship revenue came in under $200 million last year, according to a person familiar with that team.

Of course, building your own stadium does not come without risk. SoFi Stadium cost more than $5 billion — the most of any stadium in the world — and the Rams have $3.5 billion of debt, by far the most in the NFL.

But the risk appears to have paid off.

When Kroenke bought the Rams for $750 million in 2010, the team was in St. Louis. He moved the franchise to Los Angeles for the 2016 season at a huge expense: Kroenke had to pay the league a relocation fee of $550 million and an additional $571 million settlement fee related to a lawsuit the city of St. Louis filed over the decision to bolt to California.

Still, including that combined $1.12 billion in fees, Kroenke’s investment in the Rams is up more than four-fold since he took control of the franchise. Since moving to Los Angeles, the Rams have made the playoffs five times and have been to the Super Bowl twice, capturing the Lombardi Trophy in 2021.

The Chargers, who moved to Los Angeles in 2017, have made it to the playoffs just twice since and have never advanced beyond the divisional round.

The Spanos family hasn’t done too badly, though. The late Alex Spanos purchased the then-San Diego Chargers in 1984 for $72 million. Similar to the Rams, the Chargers had to pay a $550 million relocation fee. Including the fee, the value of the team has increased 81-fold since August 1984. Over the same span, the S&P 500 is up 53-fold.

In stock market parlance, think of the Rams as a growth stock and the Chargers as a dividend play.

This post appeared first on NBC NEWS

A bankruptcy court approved Red Lobster’s plan to exit Chapter 11, putting the seafood chain one step closer to exiting bankruptcy.

The company, known for its seafood offerings and cheddar biscuits, filed for bankruptcy protection in May. Red Lobster had struggled with increased competition, expensive leases, last year’s disastrous shrimp promotion and a broader pullback in consumer spending.

As part of the restructuring plan, a group of investors under the name RL Investor Holdings will acquire Red Lobster by the end of the month. Once the acquisition closes, former P.F. Chang’s CEO Damola Adamolekun will step in to lead Red Lobster. Current CEO Jonathan Tibus, who led the company through bankruptcy, will leave Red Lobster.

“This is a great day for Red Lobster,” Adamolekun said in a statement. “With our new backers, we have a comprehensive and long-term investment plan — including a commitment of more than $60 million in new funding — that will help to reinvigorate the iconic brand while keeping the best of its history.”

RL Investor Holdings includes TCW Private Credit, Blue Torch and funds managed by affiliates of Fortress Investment Group. Red Lobster will operate as an independent company.

After slimming down its restaurant portfolio, the chain currently operates 544 restaurants across the U.S. and Canada.

At least nine other restaurant chains have filed for bankruptcy this year. High interest rates and a pullback in consumer spending have weighed on eateries, particularly if they were already struggling to bounce back from the pandemic.

This post appeared first on NBC NEWS

Ten years ago, two Russian nationals, Aleksandra Krylova and Anna Bogacheva, spent a month touring the United States. Their itinerary included stops across the country: New York, Louisiana, California, Colorado. But their focus was not simply a tourist’s curiosity. They were employees of a new agency that had decided to “spread distrust towards the candidates and the [American] political system in general,” as a subsequent federal indictment alleged. They were here to get a feel for how that might work.

The branch of that effort in which Krylova and Bogacheva participated — the effort to amplify disinformation and controversy on social media — had no demonstrable effect on the 2014 or 2016 elections. The other component of Russia’s 2016 effort — the release of material stolen from a senior adviser to the Democratic candidate — may have. But the Russian effort was nonetheless an enormous success, as reflected in new federal documents articulating how that ongoing effort has evolved.

On Wednesday, the Justice Department published an indictment targeting two employees of RT, the media entity controlled by the Russian government that was formerly known as Russia Today. With RT banned after Russia’s invasion of Ukraine in 2022, those employees allegedly funneled $10 million to a U.S.-based media company to have a platform for content they wanted to share. The spending included contracts with well-known social media personalities who created videos for the company that expanded its general audience.

Federal prosecutors also revealed on Thursday that they had seized a number of internet domains that were part of an effort to “covertly spread Russian government propaganda with the aim of reducing international support for Ukraine, bolstering pro-Russian policies and interests, and influencing voters in U.S. and foreign elections,” according to the Justice Department. That announcement documented several proposed prongs of an ongoing influence effort, including one focused on social media content.

Unsurprisingly, both efforts aligned with America’s political right. The company appears to have been Tenet Media, which published videos from popular right-wing commentators such as Tim Pool and Benny Johnson. The documentation for the broader influence effort, referred to as “Doppelganger,” explicitly indicates an effort to aid Republicans and the right.

One document details the “Good Old USA Project,” perhaps a reference to the Republican Party’s informal nickname or to party nominee Donald Trump’s campaign slogan. Though the party identity and candidate are redacted, it specifies that the intent is to “secure victory of a [Political Party A] candidate ([Candidate A] or one of his current internal party opponents) at the US Presidential elections to be held in November of 2024.” Elsewhere, though, the identities are made obvious: Political Party B is described as being in power and seeking to “maintain the current foreign policy priorities” while Party A — the Republicans — are “in opposition” but “have been criticizing these priorities.”

That’s more obvious in another document, delineating a “Guerrilla Media Campaign” in the United States.

“We believe that supporters of the [U.S. Political Party B] are left-wing and far-left globalists who advocate for perversion of traditional moral and religious values,” it reads, including the DOJ’s redactions, “while supporters of the [U.S. Political Party A] are normal people whose priority is to preserve traditions of the American way of life.”

The document articulates the concerns of members of Political Party A, the Republicans, and suggests that they “should be exploited in the course of an information campaign” in the United States.

It’s been somewhat forgotten over the eight years since Russia’s interference effort was first revealed, but amplifying division in this way was the effort’s initial intent. The desired outcome wasn’t necessarily to ensure anyone’s election but, instead, to stoke and heighten internal conflicts in the United States. It wasn’t that Russian actors were injecting new, divisive narratives into the national conversation. It was that they were doing what they could to increase the volume around those narratives.

The indictment of the RT employees alleges how that worked in the more recent effort. “Many of the videos published by U.S. Company-1″ — apparently Tenet — “contain commentary on events and issues in the United States, such as immigration, inflation, and other topics related to domestic and foreign policy.” Even when not specifically pro-Russian, boosting this content was “consistent with the Government of Russia’s interest in amplifying U.S. domestic divisions to weaken U.S. opposition to core Government of Russia interests, such as its ongoing war in Ukraine.”

Central to the effort, the new documents suggest, is the issue that Russia focused on back in 2014: race. Among the states with the most targeted social media activity before Trump’s election was Missouri, the state where the Black Lives Matter movement found its footing after the shooting of Michael Brown in Ferguson.

“It is important that ‘[U.S. Political Party B]’ are also people of color and supporters of ‘affirmative action’ and ‘reverse discrimination’, i.e. infringement on the rights of the white population of the United States,” the “Guerrilla Media Campaign” document notes, “while [U.S. Political Party A] are the victims of discrimination by people of color.” Among the topics that should be highlighted to stoke division, it continued, were “privileges for people of color, perverts and disabled.”

Where the Russians got lucky was in Trump’s response to the 2016 effort. His sympathy for Russia and for Russian President Vladimir Putin was obvious well before Election Day that year. (In retrospect, it’s probably not a coincidence that Russia’s efforts in 2014 followed surprisingly sympathetic responses from prominent Republicans after Russia’s initial Ukraine incursion that year.) It was Trump’s vanity, though, that proved most useful to the Russians.

In the weeks after the election, reporting slowly began to detail what Russia had been up to. Having won the electoral vote but lost the popular vote, Trump was sensitive about any suggestion that his victory wasn’t a mandate proving his popularity. So he forcefully rejected the idea that Russia had aided his campaign, though reporting (and common sense) suggested that this had become one of the country’s aims. He even repeatedly rejected the idea that Russia had tried to interfere in the election at all.

The issue lingered because of a federal investigation seeking to determine whether people on Trump’s campaign or the candidate himself had worked with the Russian actors. Some had: His son and campaign chairman met with a Russian attorney who promised dirt on Trump’s opponent; that same campaign manager later passed internal polling data to a person linked by a bipartisan Senate investigation to Russian intelligence. It also documented the breadth of Russia’s influence effort, including that trip taken by Krylova and Bogacheva a decade ago. But the investigation was ultimately unable to prove direct coordination between Trump and Russian actors.

Trump proclaimed this to be a complete exoneration, proof that (as he had claimed since early 2017) the Russia probe was “a hoax.” Over the years, he and his allies responded to any report about Russia’s efforts with this same simplistic rejoinder: All that Russia stuff was a hoax! This narrative was helped by occasions on which commentators on the left embraced dubious or debunked claims (like that there was a nefarious connection between Trump’s company and a Russian bank, which there wasn’t). But it was more broadly a catchall aimed at waving away any claim about Russian activity as a Democratic fever dream.

The new indictment reinforces that it wasn’t. Russia began trying to influence American politics a decade ago, ultimately finding a sympathetic ally in Trump. Now, instead of trying to make fake personalities who can elevate contentious issues to Russia’s benefit, there’s a stable of Trump-allied voices who already are.

It’s useful to note, too, that Russia’s efforts to move the needle are often even less subtle. On Thursday, apparently in response to the new indictments, Putin announced his endorsement of … Vice President Kamala Harris.

This post appeared first on washingtonpost.com

With two months left in the presidential race, former president Donald Trump would prefer to campaign on issues such as inflation and immigration. Vice President Kamala Harris has been centering her campaign on expanding economic opportunity, while seeking to keep abortion rights as a top contrast with Trump.

But a school shooting in the battleground state of Georgia has thrust the issue of gun violence back into the spotlight, elevating — at least for now — a topic that had not been front and center in the matchup.

The immediate political reaction was familiar, signaling dim prospects for any near-term changes to gun laws. But advocates against gun violence said the proximity to the election could focus candidates and voters more urgently on the issue.

“I think in some ways it is a familiar reaction, but also in some ways there’s a lot of differences,” said Monisha Henley, senior vice president of government affairs at Everytown for Gun Safety, which has endorsed Harris. “We are in a presidential election, so that is an immediate difference. Voters are making their decisions right now on who they think will best represent them up and down the ballot.”

Henley also pointed to the state level, saying she was encouraged by a bipartisan Georgia legislative committee that met Thursday morning to consider gun storage initiatives. The meeting was previously scheduled.

In the hours after Wednesday’s shooting, which killed four people and injured at least nine others, Democrats lamented the regularity of such tragedies and called for new gun restrictions. Republicans focused on portraying the shooting as an act of evil and sidestepped — or outright rejected — questions about policy.

Harris was campaigning in New Hampshire hours after the shooting and began her event by addressing it, at one point telling the crowd she was “going off-script” to speak further about it.

“Our kids are sitting in a classroom where they should be fulfilling their God-given potential and some part of their big, beautiful brain is concerned about a shooter busting through the door of their classroom. It does not have to be this way,” she said.

“This is one of the many issues that is at stake in this election,” she added.

President Joe Biden, in a statement on the shooting, called on Republicans in Congress to “finally say ‘enough is enough’” and work with Democrats to pass a list of proposals, including an assault-weapons ban. Officials have said the gunman used an “AR-platform-style weapon.”

Trump’s initial comments on the shooting did not mention gun violence. In a post on his Truth Social platform, Trump referred to the shooting as a “tragic event” and said the victims were “taken from us far too soon by a sick and deranged monster” — a reference to the 14-year-old suspect.

Trump also did not mention gun violence when asked about the shooting during an interview with Fox News host Sean Hannity that aired Wednesday night. Trump instead used a question about the shooting to reiterate his broader campaign message that he is the best candidate to restore peace at home and abroad.

“It’s a sick and angry world for a lot of reasons and we’re going to make it better,” Trump said. “We’re going to heal our world.”

The shooting has come at a time when violent crime has declined nationally, a fact that Democrats have highlighted as Trump portrays Biden and Harris as soft on criminals.

Georgia’s Republican governor, Brian Kemp, declined to entertain a reporter’s question at a news conference about the possible policy response to the shooting. Kemp said Georgia has “done a tremendous amount on school safety, but today is not the day for politics or policy.”

Kemp is a crucial ally for Trump in Georgia. Trump has recently sought to patch up his relationship with Kemp after a long-running feud sparked by Kemp’s refusal to help with overturning Trump’s 2020 reelection loss in Georgia.

The state looms large in the November election, especially since Harris replaced Biden as the Democratic nominee. In The Washington Post’s polling average across seven battleground states, Georgia has seen the second-largest shift away from Trump since Biden ended his reelection bid in July.

Harris and her running mate, Minnesota Gov. Tim Walz, went on a bus tour of south Georgia last week, looking to show their commitment to contesting smaller communities outside the vote-rich Atlanta area.

It remains to be seen whether Wednesday’s shooting will change how the state’s voters think about gun violence in regard to the November election.

A Quinnipiac University poll of Georgia, conducted from May 30 to June 3, found only 4 percent voters said gun violence was the most important issue in deciding who they will vote for in the presidential contest. That issue was far behind the economy (29 percent) and “preserving democracy” (23 percent).

Aneesa McMillan, a spokeswoman for the gun-control group Giffords, which has also endorsed Harris, said she sees plenty of “political momentum” for the cause in polling that the organization has conducted among battleground state voters. She said it is a “top-of-mind issue that is consistently brought up” by certain voting blocs, including young voters who have “come of age” doing school shooting drills in the classroom.

Both Harris and Trump have extensive records on gun violence.

In 2022, Biden signed into law a bipartisan gun-control measure that was the most significant law of its kind in the past three decades. The Bipartisan Safer Communities Act provided funding for mental health services and school security initiatives, while expanding criminal background checks for some gun buyers, among other things.

Harris oversees the first-ever White House Office of Gun Violence Prevention, an appointment that Biden gave her about a year ago. At her first campaign event after Biden dropped out, Harris reiterated her support for “red flag laws, universal background checks and an assault weapons ban.”

In picking Walz — a veteran and hunter — Harris found a running mate who could tap into personal experience to address gun violence. Walz, in his Democratic National Convention speech, said he “know[s] guns.”

“I was a better shot than most Republicans in Congress and I got the trophies to prove it,” Walz said. “But I’m also a dad. I believe in the Second Amendment. But I also believe our first responsibility is to keep our kids safe.”

Trump, meanwhile, has pitched himself as “the best friend gun owners have ever had in the White House” and repeatedly courted the National Rifle Association. Addressing the NRA this year, Trump boasted that as president he resisted “great pressure” to change gun laws.

“We did nothing,” Trump said. “We didn’t yield.”

After a January school shooting in Iowa, Trump called it a “very terrible thing” but added, “we have to get over it.”

This post appeared first on washingtonpost.com

NEW YORK — Former president Donald Trump formally endorsed a government spending commission that could give Elon Musk broad responsibilities for auditing federal spending and regulations — a move that reflects a tightening political alliance between the two men with less than nine weeks left until Election Day.

Trump’s advisers have discussed the commission for months, and Musk has publicly expressed interest in it on X, the social media platform he owns. Trump, the Republican presidential nominee, expressed his support during a speech in New York on Thursday.

“This commission will develop an action plan to totally eliminate fraud and improper payments within six months,” Trump said.

Trump said the new commission would save “trillions of dollars — trillions. It’s massive. For the same service we have right now.” Budget experts have said it is possible a commission could identify tens of billions or possibly hundreds of billions of dollars in government spending cuts, but that it is not credible to imagine the commission cutting trillions of dollars without severely affecting federal services.

Trump said Musk has “agreed to head the task force” and credited him for the recommendation of the panel. Musk didn’t immediately respond to a request for comment.

Musk, who is also a Tesla and Space X executive, endorsed the former president after he was slightly wounded in an attempted assassination in Butler, Pa. Musk has used his social media platform to try to help Trump in ways that have prompted concern from some critics. He recently attacked Trump’s rival, Vice President Kamala Harris, and posted a fake image depicting Harris as a communist, echoing Trump’s disparaging nickname for her, “Comrade Kamala.” He falsely claimed in a message accompanying the fabricated image: “Kamala vows to be a communist dictator on day one. Can you believe she wears that outfit!?”

The image appeared to violate X’s own policies on manipulated content, which state that any “media that is significantly and deceptively altered, manipulated, or fabricated” must either be labeled or removed. Days after sharing the image, however, Musk’s original post was still circulating, with nearly 83 million views Thursday.

The close alliance between a major-party presidential nominee and the owner of an influential social media platform stands out, particularly this close to an election and with Musk embroiled in recent controversies. Musk’s allies have also poured millions into America PAC, a pro-Trump super PAC.

Musk helped create the super PAC, which had raised $8.7 million as of June 30, according to public filings. Donors include wealthy business executives, such as former Tesla board member Antonio Gracias, Palantir co-founder and Austin-based tech investor Joe Lonsdale, and Sequoia Capital investor Shaun Maguire.

Musk’s growing role in Trump’s orbit reflects his broader move to the right, a tack that has sometimes involved promoting fringe conspiracy theories. This past week, Musk posted and then deleted a post referencing an interview that Tucker Carlson did with podcaster Darryl Cooper. That interview received widespread backlash after Cooper promoted falsehoods about World War II and the Nazis.

Now, the growing ties between Musk and Trump are set to be cemented through a governing body that would likely put Musk at the center of U.S. policymaking, if Trump wins a second term. Despite potential conflicts of interest with his sprawling business empire, Musk would either chair or help lead an independent commission that would comb through thousands of federal programs and formally recommend which ones to cut, according to the plan long discussed by Trump and many of his top advisers. Cuts to government spending would likely need congressional approval, but cuts to government regulations could often be at least attempted by Trump unilaterally, should he win the 2024 election.

Trump advisers have for months eyed the commission as a way to publicly identify billions of dollars of unnecessary federal spending, reprising an idea from the Reagan administration. The plan has gained traction among Trump advisers as the former president has embraced increasingly aggressive plans to approve trillions of dollars in new tax cuts with no clear proposal for how to pay for them. (Budget experts say the commission could identify hundreds of billions of dollars in cuts, but the former president’s tax cuts would likely still increase the national debt, even with new revenue from his plan to massively increase tariff duties.)

Trump aide Brian Hughes told reporters before Trump’s speech on Thursday that Musk “has literally made history-changing work,” building more efficient systems and that the former president is excited by the possibility of appointing the Tesla CEO to the position.

“How that commission ultimately gets staffed and directed is yet to come but what I think you’ll hear today is a reaffirmation that President Trump loves the idea and will work with Mr. Musk and others to ensure that we have it in place and really analyze the functionality of our government,” Hughes said.

In a post on X Thursday, Musk said he looks forward to “serving America if the opportunity arises.”

“No pay, no title, no recognition is needed,” he said in a message to his roughly 196 million followers, referencing the commission.

But Musk’s companies have received billions of dollars in federal contracts and other subsidies, and he has been critical of the regulatory push from federal agencies under President Joe Biden. Under Biden, the Justice Department and the Securities and Exchange Commission have advanced investigations into Tesla’s marketing of its driver-assistance technologies. Musk has also been critical of Biden’s electric vehicle subsidies, which he has said benefit his competitors more than Tesla.

Steve Moore, who pitched the former president on the idea, said Musk would be “absolutely perfect” to run the commission. Among the other names that could be considered for the commission are Fred Smith, the former CEO of FedEx, and Robert Nardelli, the former CEO of Home Depot, said two people familiar with the idea, who spoke on the condition of anonymity.

Last month, Musk hosted a conversation with Trump on X that was initially marred by technical errors. The conversation, described as “unscripted with no limits on subject matter” mainly stuck to topics that Trump appeared comfortable with. Musk praised the former president for his response to the attempted assassination, telling him, “You can’t fake bravery under such circumstances.”

Trump asked Musk last year if he was interested in purchasing Truth Social. Musk reinstated Trump on the X platform in 2022, after the former president was banned following the Jan. 6 attack on the U.S. Capitol. While Trump has posted on the site occasionally, he still primarily uses Truth Social.

Stein reported from Washington and Thadani from San Francisco.

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Former president Donald Trump, in a speech Thursday to Jewish Republicans, repeatedly denigrated Jewish Americans who vote for Democrats and warned, without evidence, that Israel “will no longer exist” if Vice President Kamala Harris becomes president.

Trump has long questioned how Jewish Americans could vote for Democrats, even as polls show they support the party by wide margins, and Trump’s rhetoric toward the voting bloc is criticized as antisemitic.

“I don’t understand how anybody can support them — and I say it constantly — if you had them to support and you were Jewish, you have to have your head examined,” Trump told the Republican Jewish Coalition. “They’ve been very bad to you.”

Trump addressed the group live via satellite as it held its annual leadership summit in Las Vegas, days after the bodies of six Israeli hostages — including Israeli American Hersh Goldberg-Polin — were recovered in Gaza. The hostages were taken by Hamas in its Oct. 7, 2023, attack on Israel that sparked the war in Gaza.

Trump said Thursday that Harris and President Joe Biden have “sought to cast blame for these deaths on Israel,” though both condemned Hamas in separate statements on the recovery of Goldberg-Polin’s body. Neither statement criticized Israel. In discussing the matter, Trump initially appeared to misstate Goldberg-Polin’s last name as “Goldman.”

Biden’s relationship with Prime Minister Benjamin Netanyahu has grown strained during the war. The president said Monday he does not think Netanyahu is doing enough to strike a hostage deal between Israel and Hamas.

Trump did not mention Netanyahu in his speech Thursday but claimed without evidence — as he has before — that the war would not have started if he were still president. He also again expressed some impatience with how long the war has taken. Discussing the war in April, Trump said he would tell Netanyahu to “get it over with” and “get back to normalcy.”

“I will support Israel’s right to win,” Trump told the RJC. “It’s a war on terror, and we will win fast. You have to win and you have to win fast.”

The Harris campaign did not immediately respond to a request for comment.

Halie Soifer, CEO of the Jewish Democratic Council of America, denounced Trump’s repeated criticism of Jewish Americans who vote Democratic.

“This is antisemitism, plain and simple, and if any other elected official or candidate said these things even once — let alone on a nearly daily basis — they would be condemned as antisemitic,” Soifer said in a statement.

Despite Trump’s comments to the contrary, Harris has repeatedly expressed support for the existence of Israel and its right to defend itself, including during her Democratic National Convention speech last month. She has also spoken out against the human suffering in Gaza amid the Israel counteroffensive and emphasized the urgent need for a cease-fire deal.

“President Biden and I are working to end this war, such that Israel is secure, the hostages are released, the suffering in Gaza ends and the Palestinian people can realize their right to dignity, security, freedom and self-determination,” Harris said in her DNC speech.

Trump, on Thursday, exaggerated what the implications would be if Harris wins in November.

“You’re not going to have an Israel if she becomes president … Israel will no longer exist,” he said.

Trump received an enthusiastic response Thursday as he addressed the RJC after being introduced by Miriam Adelson, the billionaire and Republican megadonor. She told the GOP Republicans gathered in Las Vegas that Trump is “our best friend” and that she is “eagerly awaiting for him to enter the White House and to save the Jewish people.”

Jewish voters continue to overwhelmingly favor Democrats, according to polling. The group supported Biden over Trump 70 percent to 27 percent in 2020, according to the Pew Research Center’s validated voter survey.

Trump suggested Thursday, without evidence, that he was “probably around the 50 percent mark” with Jewish voters — and once more criticized Jewish Americans who do not support him.

“Who are the 50 percent of Jewish people that are voting for these people that hate Israel and don’t like the Jewish people?” Trump asked, pushing false claims about voters who oppose him.

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On Wednesday morning, a student walked into Georgia’s Apalachee High School and opened fire with a rifle, killing two students and two instructors. The incident is numbing in its familiarity, from the weapon choice to the shooting location to the death toll. Even the most acutely emotional aspect to the story — the students reaching out to parents to offer what both feared might be their last messages — were familiar. These stories are ones we’ve heard over and over again.

Just because these elements are familiar, though, doesn’t mean they are less powerful or less important. Nor should we let the familiarity of kids endangered at school distract from a more mundane aspect of the shooting: that American kids are much more at risk from gun violence than kids in other countries. More at risk, in fact, than people in other countries in general.

Take Western Europe. The Institute for Health Metrics and Evaluation at the University of Washington compiles data on causes of death around the world, including in America’s peer countries in Europe. From 2004 to 2021 (the most recent year for which IHME data are available), more Europeans were killed by firearms than were American kids. But far more U.S. kids than European kids were shot to death, with five American kids dying for each European child.

In fact, several states saw more children killed by guns in 2021 than the number of kids killed by firearms in Europe that year. Georgia was among them. (Data for 2023 on the charts that follow are provisional.)

These are raw counts, not relative totals. There were 437 million residents in the countries included in IHME’s Western Europe data in 2021, about 92 million of them under age 20. There were about 262 million Americans under 18 in 2023, including about 8.5 million in Georgia that year. But more Georgia children than European kids were killed by firearms.

The states shown above are those that had the most kids killed by firearms over the last 20 years. Georgia is America’s eighth most populous state; it had the fifth most kids shot to death over that period, more than 1,400 of them.

Many of those killed by firearms in Europe took their own lives. If we exclude suicides to look only at homicides and accidental deaths, we see that fewer Europeans overall than American kids are killed by firearms. American kids are almost twice as likely as European adults to be killed by a firearm when we exclude suicides. They are nearly 22 times more likely to be killed by a firearm than Europeans under 20.

Thanks in part to a surge in shooting deaths that accompanied the arrival of the coronavirus pandemic, firearms recently became the most common cause of children’s deaths in the United States. School shootings are only a small subset of those deaths. But exceptional tragedies like the one that unfolded in Georgia on Wednesday are a moment to consider how unexceptional it is when American kids are killed by firearms.

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