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Economist Stephanie Kelton on the Debt Limit, a Potential Catastrophe We’re Risking for No Reason

Published Wed, 26 Feb 2025 14:58:23 GMT

Ever since Congress created a federal debt limit, it has managed to raise it before U.S. borrowing reached the limit. For the first time, it looks as though that may not happen, and the government could conceivably default on its obligations. Today on Deconstructed, Jon Schwarz is joined by the economist Stephanie Kelton to talk about the history that brought us to this moment, why both political parties may take us over this ridiculous and dangerous brink together, and what it all means for now and the future.Transcript coming soon.The post Economist Stephanie Kelton on the Debt Limit, a Potential Catastrophe We’re Risking for No Reason appeared first on The Intercept.

Man killed in Southwest DC shooting

Published Wed, 26 Feb 2025 14:58:23 GMT

Police in D.C. are investigating a shooting that killed a man in Southwest D.C. early Thursday morning.A report of a shooting on Forrester Street near Shepherd Parkway came in just after 1:35 a.m.Officers arrived at the scene and found Adrian Burgess, 19, of Northwest D.C., with gunshot wounds.He died at the scene.No suspect has been named at this time.D.C. police are offering a reward of up to $25,000 to anyone that provides information that leads to an arrest.Anyone with information can submit a tip by calling 202-727-9099 or texting their tip line at 50411.Below is a map of where the shooting took place. Source

Espanyol faces crunch game at Valencia to avoid relegation from Spanish league

Published Wed, 26 Feb 2025 14:58:23 GMT

BARCELONA, Spain (AP) — After the anticlimactic conclusion of Barcelona’s title march, the Spanish league’s more modest teams are delivering some drama to the season’s final days.Seven teams — Espanyol, Valladolid, Cadiz, Getafe, Almeria, Celta Vigo and Valencia — are all fighting to avoid joining last-place Elche in the second division next season. Espanyol and Valladolid are in the danger zone with two games left.All the games for the penultimate round will be played at the same time on Sunday, except for Real Madrid’s trip to Sevilla on Saturday.Espanyol is facing a crunch game when it visits Valencia. The Barcelona-based team is in second-to-last place and three points behind Valladolid, Cadiz and Getafe. If Espanyol loses at Valencia, and the other three at least draw, the team will be demoted.Espanyol, however, is playing some of its best soccer of the season, winning 2-1 at Rayo Vallecano and erasing a three-goal deficit to earn a thrilling 3-3 draw with Atletico Madrid...

Regulators take aim at AI to protect consumers and workers

Published Wed, 26 Feb 2025 14:58:23 GMT

NEW YORK (AP) — As concerns grow over increasingly powerful artificial intelligence systems like ChatGPT, the nation’s financial watchdog says it’s working to ensure that companies follow the law when they’re using AI.Already, automated systems and algorithms help determine credit ratings, loan terms, bank account fees, and other aspects of our financial lives. AI also affects hiring, housing and working conditions.Ben Winters, Senior Counsel for the Electronic Privacy Information Center, said a joint statement on enforcement released by federal agencies last month was a positive first step.“There’s this narrative that AI is entirely unregulated, which is not really true,” he said. “They’re saying, ‘Just because you use AI to make a decision, that doesn’t mean you’re exempt from responsibility regarding the impacts of that decision.’ ‘This is our opinion on this. We’re watching.’”In the past year, the Consumer Finance Protection Bureau said it has fined banks over mismanaged automat...

How a Fairfax Co. student’s pageant win made history

Published Wed, 26 Feb 2025 14:58:23 GMT

Oakton High School sophomore Ashley Wang’s expectations for her first ever pageant were so low she said she didn’t tell any of her friends — she even forgot to tell her brother.The Fairfax County teen has been a competitive dancer since she was five years old. Back then, her mom’s friend recommended she try a pageant once she learned that Wang may want to try something different.While some other contestants had coaches or were practicing at home, Wang “just kind of went with the flow.”Wang, who is also a member of the Oakton dance team, made history last month, becoming the first Chinese American and second-ever Asian to be crowned Miss Virginia Teen USA. Now, she’ll compete nationally in the Miss Teen USA competition this fall.“When I was younger, I feel like I had no role models to look up to that were like me, Asian American, with similar struggles and experiences,” Wang said. “I’m just so happy that I can be that role m...

Muere una segunda persona por brote de meningitis asociado a cirugías en México, dicen los CDC

Published Wed, 26 Feb 2025 14:58:23 GMT

(CNN) — En Estados Unidos se atribuyó una segunda muerte a un presunto brote de meningitis fúngica entre personas que se sometieron a cirugías bajo anestesia epidural en Matamoros, México, dicen los Centros para el Control y Prevención de Enfermedades (CDC, por sus siglas en inglés). Cientos de personas más podrían estar en riesgo, advierte la agencia.Los CDC y el Departamento Estatal de Servicios de Salud de Texas informaron la semana pasada que cinco residentes de ese estado habían enfermado, uno de ellos mortalmente, tras someterse a una intervención quirúrgica en el River Side Surgical Center o Clínica K-3 de Matamoros. En todas las intervenciones se aplicó la epidural, un anestésico que se inyecta en la zona que rodea la columna vertebral.La Secretaría de Salud de México envió a los CDC una lista de 221 pacientes estadounidenses que podrían estar en riesgo por haber sido intervenidos en estas clínicas entre el 1 de enero y el 13 de mayo, según la agencia estadounidense, y...

Holiday travelers can expect slight increase in gas prices, but relief compared to previous years

Published Wed, 26 Feb 2025 14:58:23 GMT

Gas prices almost always tick up in the days ahead of Memorial Day, but this year, things aren’t that bad. According to the American Automobile Association (AAA), the national average for a gallon of gas is only up four cents from last week. This slight increase in prices comes despite the increased demand for fuel as more people embark on Memorial Day road trips.While the surge in travel has undoubtedly put pressure on gas prices, there is some relief for motorists. The current average of$3.55 per gallon is actually eight cents less than it was a month ago, offering a silver lining for those hitting the roads during the holiday weekend.Compared to the same time last year, drivers will find themselves paying over a dollar less per gallon. This significant drop in prices is a result of various factors, including improved oil production, increased supply, and lower global demand during the pandemic. As a result, travelers can expect some savings when filling up their tanks this ...

EU and Pfizer renegotiate controversial vaccine contract

Published Wed, 26 Feb 2025 14:58:23 GMT

The European Commission and U.S. pharmaceutical giant Pfizer have renegotiated a massive contract for COVID-19 vaccine doses that the EU entered into at the height of the pandemic.The Commission announced that the two parties had agreed Pfizer would spread out deliveries over the course of the next four years, into 2027, and to reduce the total amount of doses down from the 450 million that were due to be delivered this year. However, the Commission didn’t disclose the new total in its announcement. When asked by POLITICO about the revised delivery figure, Commission Health Spokesperson Stefan de Keersmaecker referred POLITICO to EU member countries for a response. “Vaccine strategies or vaccine programs are designed and implemented by the member states,” said de Keersmaecker. The Commission had previously obtained a number of concessions from Pfizer, but these always stopped short of a reduction in doses.The financial terms of the deal are also not public, but the...

Iran releases Belgian aid worker in prisoner swap

Published Wed, 26 Feb 2025 14:58:23 GMT

Iran has released Olivier Vandecasteele, a Belgian humanitarian worker who has been detained in Iran for more than a year, Belgian Prime Minister Alexander De Croo said in a statement Friday.“Olivier Vandecasteele is on his way to Belgium,” De Croo said. “If all goes as planned, he will be with us tonight.”A Belgian official confirmed to POLITICO that one individual was on his way to Iran as part of a prisoner swap. According to Belgian public broadcaster RTBF, the individual in question is an Iranian diplomat, Assadollah Assadi, who was sentenced to 20 years in prison by an Antwerp court in 2021 for plotting a bomb attack against a rally organized by Iranian dissidents near Paris.Belgium and Iran have been negotiating for months over a controversial bilateral treaty which would allow Iranians convicted in Belgium to serve their sentence in Iran, and vice versa.The deal was approved by Belgium’s highest court in March, paving the way for the prisone...

Investigation underway after armed person fatally shot by police in Manchester, NH

Published Wed, 26 Feb 2025 14:58:23 GMT

Authorities are investigating a fatal officer-involved shooting in Manchester, New Hampshire on Friday, officials said.Officers responding to a report of a person armed with a firearm at 1143 Mammoth Road around 3:25 a.m. found the armed person outside of the home, according to the attorney general’s office. During the ensuing encounter, multiple Manchester police officers discharged their firearms.Life-saving measures were attempted, but the armed resident was shot and has died. The identity of that individual is being withheld pending notification of next of kin. An autopsy has been scheduled for later today.Pursuant to protocol, the names of the officers involved in the incident are being withheld pending the conclusion of formal interviews. The initial responding officers had body-worn cameras.No additional information was immediately available.This is a developing news story; stay with 7NEWS on-air and online for the latest details.