The Dictatorship
Treasury asks philanthropists to invest in Trump Accounts. Ray Dalio pledges for Connecticut kids
The U.S. Treasury asked major philanthropic donors to contribute to new investment accounts for children Wednesday as part of what Secretary Scott Bessent called a “50 State Challenge” to raise funds for the Trump Accounts program.
“The president is calling on our nation’s business leaders and philanthropic organizations to help us make America great again by securing the financial future of America’s children,” Bessent said in an address.
The billionaire hedge fund founder Ray Dalio, along with his wife Barbara, announced they would commit $250 to 300,000 children under 10 in Connecticut who live in ZIP codes where the median income is less than $150,000. Dalio founded the investment firm Bridgewater Associates and lives in Connecticut.
“I have been fortunate to live the American Dream. At an early age I was exposed to the stock market, and it changed my life,” Ray Dalio said in a statement, adding that he sees the accounts as putting children on a path toward financial independence.
The Dalios commitment, which will total at least $75 million, follows the $6.25 billion pledge from billionaires Michael and Susan Dell earlier in December. The Dells promised to invest $250 in the accounts of 25 million children 10 and under who live in ZIP codes across the country that also have that median income.
The new investment accounts were created as part of President Donald Trump’s tax and spending legislationpassed over the summer. Under the new law, the U.S. Department of the Treasury will deposit $1,000 into the investment accounts of children born during Trump’s second term.
The Treasury has not yet launched the new accounts.
“Starting on July 4th, our nation’s 250th anniversary, parents, family members, employers and friends will be able to contribute up to $5,000 to each Trump Account each year,” Bessent said Wednesday.
Brad Gerstner, a venture capitalist, who championed the accounts, said the Treasury will create an account for every child in the U.S. who has a Social Security number but private companies will eventually administer the accounts. Parents or guardians will have to claim the accounts on behalf of their children. For children born before Trump came to office and who don’t qualify for the funds from the Dells and the Dalios, their families can open and fund their own Trump Account if they choose.
Money in the accounts must be invested in an index fund that tracks the overall stock market. When the children turn 18, they can withdraw the funds to put toward their education, to buy a home or to start a business.
Bessent said employers, family members and philanthropists can put funds into the accounts and that the administration hopes states will also eventually set up programs to invest in the accounts. Companies including Visa and BlackRock have also pledged to contribute in some way to the accounts of their employees’ children.
Jane Waldfogel, a professor at the Columbia University School of Social Work, said ideally, governments would provide benefits that help families with children afford immediate expenses and programs like the Trump Accounts that help families save for a child’s future.
“The problem that many scholars have tried to address and many politicians have tried to address with these child savings accounts is that low-income families and even middle-income families struggle to put aside money and save money for their children’s future,” said Waldfogel, who recently published a book about child benefits.
Without regular government contributions targeted toward poorer families, Waldfogel does not expect the accounts to decrease economic inequality as affluent families will take advantage of them but other families will not.
Steven Durlauf, a professor at the University of Chicago’s Harris School of Public Policy, said he expects the accounts to make a very modest contribution toward the resources of young adults. His research has examined what factors impact the success of children and he said improving early childhood education and rectifying racial and economic segregation at schools and in neighborhoods would do more to give children the skills and opportunities they need to be productive.
Durlauf also said as much as the philanthropy of the affluent is admirable, he thinks it should remain out of politics and controversies.
“This is integrating the wealthy into the support of particular government programs that are associated with particular political figures,” he said. “And that strikes me as extraordinarily dangerous.”
The Dalios have granted tens of millions to Connecticut public schools over the years, though a $100 million initiative launched in 2019 that would have involved matching public funds fell apart after state lawmakers raised questions over transparency. Altogether, the Dalios say they’ve given $7 billion through their philanthropy, which has focused on education, support for economic advancement and ocean research and education.
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Associated Press coverage of philanthropy and nonprofits receives support through the AP’s collaboration with The Conversation US, with funding from Lilly Endowment Inc. The AP is solely responsible for this content. For all of AP’s philanthropy coverage, visit https://apnews.com/hub/philanthropy.
The Dictatorship
AP Explains: What impact would Trump’s order to punish countries that sell oil to Cuba have?
HAVANA (AP) — Relying on his tough narrative against Cuba, US President Donald Trump signed an executive order that would impose tariffs on countries that dare to sell or send oil to the Caribbean nation.
The threat fell like a bucket of cold water on the streets of the country where many ordinary citizens are already greatly affected by a deep economic crisis.
Some experts even warn that the measure could be internally so serious as to cause a “humanitarian crisis.”
What does Trump’s executive order say?
The document establishes the imposition of a tariff on goods from countries that “directly or indirectly” supply Cuba with “any oil,” thus blocking the island’s possibilities of obtaining the vital fuel to drive its economy.
The US president’s argument is based on the fact that the Caribbean nation “constitutes an unusual and extraordinary threat” to “the national security and foreign policy of the United States,” which is why the president declared a “national emergency” with respect to said alleged danger.
According to official figures, Cuba produces only 40% of the fuel it needs, but given the technical conditions, this can barely be used for the eight large thermoelectric plants, obsolete facilities – with more than 30 years of use; The rest is generated by smaller plants that consume diesel, which must be imported. The government has had a nascent solar energy program reinforced since last year.
International experts estimate that until the beginning of the month, when Venezuela still sent its crude oil to the island —new shipments are unknown—and by virtue of a close commercial and ideological proximity, Cuba received about 35,000 barrels per day from the South American country and 5,500 barrels per day from Mexico, adding 7,500 barrels per day from Russia.
Even so, blackouts have already occurred for the last three years with cuts lasting more than eight hours, affecting the water supply and disrupting the lives of Cubans who mostly depend on light for cooking.
Dramatic impact: a humanitarian crisis
“This is devastating because the Cuban economy has been working at a minimum and by announcing this order (Trump) is using a more lethal weapon than different forms of military action because the impact is widespread,” economist Arturo López Levy, researcher at the Institute of Comparative Regional Studies at the University of Denver, told The Associated Press.
“It is not difficult to predict a significant increase in migration and those who have advocated for this policy (must) see that a humanitarian crisis is being created here,” said López Levy, alarmed. “This path leads (the) Cuban population to conditions of hunger because if there is no oil, there is not even a way to move food to the cities.”
Cuba had a 15% drop in its Gross Domestic Product in the last six years, a multifactorial crisis produced by the paralysis of the COVID-19 pandemic. a radical increase in US sanctions and an internal financial reform that triggered inflation.
Ricardo Torres, a Cuban economist at the American University of Washington, for his part highlighted that in the end “fuel is horizontal” to all sectors of society and nothing moves without it, from transportation and locomotives, to irrigation or industry.
Help from friends.
What several experts consulted by the AP question is how long the battered economy could last without oil supplies.
“The question we have and there is no answer is the number of days that Cuba has fuel available,” said Jorge Piñon, of the Energy Institute at the University of Texas. “This is worse than a hurricane approaching Cuba,” added the specialist.
Piñon considered that after the departure of Venezuela from the supply equation and the pressure that Mexico is receiving to stop providing crude oil to the island from the United States, there is hardly any Russia left.
China, another friend of the island, is not an oil producer – and the credits would be of no use – although there are among Cuba’s historical allies – and they are producers – Algeria, Angola and eventually Brazil, which has not spoken out, Piñon reflected.
What does Cuba say?
The reaction of the authorities and media on the island was immediate and the first thing they highlighted is that there is no evidence that the small nation – of barely nine million inhabitants –, beyond its ideological distance from the American political model, is really a “threat” to the neighboring country.
“Under a mendacious pretext devoid of arguments, sold by those who engage in politics and enrich themselves at the expense of the suffering of our people, President Trump intends to suffocate the Cuban economy,” Cuban president Miguel Díaz-Canel wrote on his X account.
Furthermore, officials emphasized that Trump sought to put the governments of third countries in the position of having to choose sides.
On the streets along with some expressions of nationalism over the harm caused by a foreign country, many citizens worried about the impact on their lives.
“It is an unfair measure by this president, he is half crazy and stubborn,” Eddy Porto, a 70-year-old street vendor, told the AP. “What is our fault… for that ambition that (Trump) has for power?
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Correspondent Dánica Coto contributed to this report
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Follow Andrea Rodríguez on X: https://x.com/ARodriguezAP
The Dictatorship
There’s more to the Beckham family fallout than public pettiness
ByRachel Simon
In the days since 26-year-old Brooklyn Beckham posted a lengthy statement on his Instagram Stories criticizing his famous parents David and Victoria for their allegedly “controlling” behavior and “countless lies,” public reaction has ranged from shock to skepticism.
And as the fallout continues from this viral celebrity schism, family, friends and strangers alike have dissected Brooklyn’s claims, with predictably differing opinions. Some of the allegations are impossible (at least for the public) to confirm. Others, such as Victoria’s attention-grabbing dance at her son’s wedding to model Nicola Peltz, involve more potential witnesses. Notably, neither of Brooklyn’s parents have commented directly on the matter. But in a sign that the story has yet to cool down, the BBC has already released a new documentary tackling the biggest claims, asking whether “brand Beckham” can possibly survive the scandal.
There may indeed be truth behind some of Brooklyn’s many passionate accusations, but plenty of people appear to be struggling to feel significant pity for a highly privileged “no baby” whose fame and financial success stem, at least originally, from the family he now publicly condemns. Even the name of Brooklyn’s hot sauce businessCloud 23, is a nod to one of his father’s jersey numbers. This lack of sympathy is likely due to a combination of factors. But there’s something deeper at play here than mere jealousy or pettiness.
Brooklyn clearly feels enough hurt and anger toward his family to cut them out of his life — at least for now. That’s a hugely difficult choice for anyone to make, regardless of their net worth. But Brooklyn’s seeming defensiveness hasn’t helped win over critics. And then there’s the fact that he’s asking for privacy in a post shared with 17 million followers.
Indeed, this sort of lose-lose situation — with its emotional complexity and global response — mirrors that of another royal couple: Prince Harry and Meghan. Although there’s no question — to many — that the Duke and Duchess of Sussex faced injustice at the hands of their fellow nobles, the couple’s complaints over the years have not always been well-received. Between Meghan’s at-times-tone-deaf instincts and Harry’s not-so-necessary awardsthe duo have struggled to shake their reputation as entitled millionaires who keep getting opportunities in business and Hollywood they don’t fully deserve.
This sort of lose-lose situation — with its emotional complexity and global response — mirrors that of another royal couple.
The eldest of the Beckhams’ four children, Brooklyn has cultivated his own eclectic collection of short-lived business ventures. As a teenager, he was hired to work on a Burberry campaign and published an infamous book of photography. In 2022, he rebranded himself as a chef with his very own cooking seriesbut a perceived lack of qualifications — again — and the show’s odd stylings seemed to doom the concept. There was also an ill-advised Uber Eats collaboration.
Undeterred, Brooklyn continues to cook across his social media channels.
The Beckham controversy is also complicated by Brooklyn’s relatively new marriage. His wife Nicola is a billionaire’s daughter and Razzie-nominated actress with her own perceived baggage, fair or not (and a controversial father to boot). The idea that Nicola could have helped drive some sort of wedge between Brooklyn and his mom has added another layer to the family drama.
Just like with Harry and Meghan, it’s obvious that wealth and fame can’t shield you from family tragedy or suffering. Nor does it give random people on the internet extra license to anonymously bully strangers online.
I don’t believe Brooklyn deserves to be vilified, and I truly hope he finds peace. If that means spending time away from his family, who am I — or anyone on the internet — to say otherwise. He’s certainly not the first adult child to find the confidence later in life to draw some much-needed healthy boundaries. Family estrangement is no longer a taboo topic, especially among young adultsand that’s not necessarily a bad thing.
“I’m standing up for myself for the first time in my life,” Brooklyn wrote in his statement. And that may very well be true. But as the divide between the haves and the have-nots also continues to widen, celebrities who seem to lack self-awareness may find their personal grievances aren’t garnering the same public support they might have even a few years ago. Instead, their problems and familial resentments — no matter how justified — are far more likely to become fuel for a culture increasingly frustrated by the brazen beneficiaries of societal inequality.
Rachel Simon
Rachel Simon is a writer and editor based in Raleigh, North Carolina. She is the author of “Pickleball for All: Everything but the ‘Kitchen’ Sink.” Her work has been published in The New York Times, Glamour, Vulture, Teen Vogue and more. You can find her at @rsimon113.
The Dictatorship
I watched the Georgia 2020 recount. Here’s what the FBI raid in Fulton County is really about.
The moment the media declared Joe Biden the winner of the 2020 presidential election, I was on a flight from Washington, D.C., to Atlanta — deployed in my role as counsel to the Biden campaign to defend the will of Georgia voters as the state ballot counting process unfolded. For most Americans, the election was over. But my work was just getting started.
Beyond a shadow of a doubt, Joe Biden won the 2020 presidential election in Georgia by nearly 12,000 votes.
Under Georgia law, the close margin required election officials to carry out not only the regular counting process, but also a “risk limiting audit” — a hand recount of all five million ballots cast. Our legal team, and that of the Trump campaign, observed as each of Georgia’s 159 counties counted the ballots, certified the count and then counted them again by hand. After all of this, the Trump campaign demanded a third count in the form of a statewide machine recount. Georgia’s dedicated election workers counted every ballot a third time, often working overnight in shifts while contending with threats of violence and an unprecedented global pandemic. Watching it unfold, I was awed by the election staff’s dedication and their commitment to the integrity of the process.
After three counts, the results remained unchanged. Beyond a shadow of a doubt, Joe Biden won the 2020 presidential election in Georgia by nearly 12,000 votes. Republican Secretary of State Brad Raffensperger and Republican Gov. Brian Kemp certified the results despite intense pressure from then-President Donald Trump. Courts rejected every attempt by the Trump campaign and the president’s allies to overturn the results.

And yet, more than five years later, President Trump has taken his most extreme step to overturn the 2020 election results in Georgia. On Wednesday, a phalanx of FBI agents descended on the Fulton County election operations center and seized hundreds of boxes of ballots, tabulator tapes, ballot images and other documents related to the 2020 vote.
Americans who believe in free and fair elections should be terrified. But not because the president and his cronies at the FBI and the Justice Department might find some “smoking gun” in those five-year-old boxes that finally validates years of lies and conspiracy theories. They won’t. It doesn’t exist. But Americans should be terrified because of what this portends for the 2026 midterms.
Americans should be terrified because of what this portends for the 2026 midterms.
The Trump administration dispatched federal officers to remove ballots and voting equipment from the hands of state election officials — where they belong — and placed them under federal control. This is a threat to the very foundation of free and fair elections: that ballots are cast and counted through impartial, statutorily mandated state election processes without interference by candidates on the ballot.
Let’s be clear about where our society could be headed. This fall, we are increasingly likely to see a president commanding the federal law enforcement apparatus to seize ballots and voting equipment, prosecute election workers, intimidate voters and election officials and interfere with the counting of ballots and the certification of election results.

Public officials cannot afford to wait until it’s too late to act or speak out. Governors, secretaries of state, attorneys general and other state and local election officials know that elections are a state function protected by the Constitution. As Georgia officials did in the face of threats and heavy criticism in 2020, they must continue to honor the law and the truth. Judges must scrutinize every federal intrusion brought before the courts.
Members of Congress swore an oath when they took office to defend the Constitution against all enemies, foreign and domestic. What threat to our Constitution is greater than the demolition of impartial elections?
The FBI raid in Fulton County is only a preview of what might come if Trump remains unchecked.
The FBI raid in Fulton County is only a preview of what might come if Trump remains unchecked. There is still time for Republicans in the U.S. House and Senate to do their duty and protect free and fair elections for future generations of Americans — but it is running short.
As a voter protection lawyer who worked on the two largest recounts in American history, I know that state processes to count ballots are thorough, secure and accurate. I also know that staying silent while the Trump administration takes matters, and ballots, into its own hands would irreparably harm our democracy.
“It’s meant to sow fear,” Fulton County Commissioner Mo Ivory said in the wake of the FBI search. “People who normally would stand up to exercise their free and fair right to vote get afraid to do that. And that’s exactly what [Trump] hopes will happen.”
She’s right. And we can’t let fear win.
Jacquelyn Lopez is a partner at Elias Law Group and served as voter protection counsel for the Biden-Harris campaign during the 2020 Georgia recount. She also helped lead the 2018 Florida recount team for Sen. Bill Nelson.
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