Trump signs order allowing business bribery
Donald Trump has made it easier for U.S. businesspeople to engage in corrupt business practices overseas. He signed an executive order that freezes enforcement of the U.S. Foreign Corrupt Practices Act. The law prohibits U.S. businesspeople from bribing foreign officials in order to obtain contracts and other business favors. When signing the executive order Trump indicated that not requiring businesspeople to abide by the law and allowing them to engage in bribery will mean more business for America.
Trump Administration appeals judge’s birthright order
The Trump Administration has gone into federal appeals court to try to overturn a ruling from a judge that blocks Donald Trump’s rewriting of the Constitution to eliminate the Constitutional guarantee that anyone born in the U.S. is a U.S. citizen. So far the Trump Administration has been facing nine lawsuits over Trump’s birthright action, including one from the attorneys general of 22 states. The administration takes the position that the president can change the Constitution by himself.
Trump fires USAID inspector general
U.S. Agency for International Development (USAID) Inspector General Paul Martin, who was not among the 18 inspectors general fired by Trump shortly after Trump took office, was fired last night. The firing apparently was in reaction to a report issued by Martin on Monday that criticized Trump’s freeze on USAID spending as being a mistake. The firing of Martin took place without the administration giving Congress the legally required 30 days notice before an inspector general is fired.
Inflation rises to 3%
While Donald Trump has promised to bring down prices, including the price of eggs, new statistics from the Bureau of Labor Statistics today show that inflation has reversed its trend and risen to 3%. The Consumer Price Index increased 0.5%. The Consumer Price Index for shelter rose 0.4% in January, accounting for nearly 30% of the monthly all items increase. The energy index rose 1.1% over the month, as the gasoline index increased 1.8%. The index for food also increased in January, rising 0.4%.
Musk’s cuts so far are a tiny fraction of the goal he promised
Elon Musk’s Department of Government Efficiency reported data today that show the amount of money actually saved so far for the federal government by Musk through his crusade against government agencies is minuscule compared with his stated goal of cutting two trillion dollars in federal expenses. Musk claims just over $37 billion in savings from what is expected to be $7 trillion in federal spending this fiscal year. The data say 199 government contracts across 35 government agencies have been cut in addition to cutting Department of Education contracts and grants. They also have cancelled government subscriptions to The New York Times.
Coca-Cola reports $10.6 billion profit for 2024
The Coca-Cola Company has reported its financials for 2024. James Quincey, chairman of the company, said that the company is uniquely positioned to capture what it sees as vast opportunities ahead. For the full year, net revenues grew 3% to $47.1 billion. Profit was $10.6 billion, about the same as in 2023. Revenue growth for Coca-Cola of almost 3.5% is forecast for the next three years.
