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<ul class="summary-list"><li>The Department of Government Efficiency wouldn't be a department, but an outside advisory group.</li><li>Under current law, Congress needs to approve most budget changes, limiting the DOGE's power.</li></ul>President-elect Donald Trump on Wednesday announced a new effort to slash what he sees as federal inefficiency, with Elon Musk as cost-cutter-in-chief.Trump <a target="_blank" href="https://www.businessinsider.com/elon-musk-trump-cabinet-election-x-2024-9">made good on a campaign promise</a> when he tapped Musk to co-lead the proposed "Department of Government Efficiency," or DOGE, alongside former GOP presidential candidate Vivek Ramaswamy.Musk says he wants to cut $2 trillion from the federal budget to make it more efficient and effective. Beyond that, though, little is known about how the DOGE will function and how much power it — <a target="_blank" href="https://www.businessinsider.com/trump-adopts-elon-musk-plan-cut-government-spending-efficiency-reform-2024-9">and Musk</a> — will have.Musk did not respond to Business Insider's request for comment for this article. A representative for Ramaswamy declined to comment.<h2 id="2dc0c03e-9977-4403-9201-3d55e844524d">What do we know about the DOGE?</h2>Despite its name, the DOGE will <a target="_blank" href="https://www.businessinsider.com/elon-musks-doge-gets-a-government-checkmark-on-x-2024-11">not actually be a government department</a>, as departments are permanent and can only be created by Congress. Instead, it will function "outside of the government" and disband by July 4, 2026, Trump said in a statement.<div type="image" title="Trump and Musk at a rally" height="2584" width="4184" msid="115360794" hostid="261" sizebytes="161264"></div>The name DOGE is an homage to Musk's preferred cryptocurrency, Dogecoin, which shot up in value after Trump won the election. Under current law, the DOGE might not be able to accomplish much, since Congress controls federal spending."They have no power. No power at all," Elaine Kamarck, a senior fellow at the nonpartisan Brookings Institute who led efforts to reform the federal government under former President Bill Clinton, told Business Insider. "They do make recommendations, and once they make recommendations, the expectation is that the government will act on them."There's no guarantee that a recommendation will turn into a policy, especially given that many of the DOGE's suggestions will likely require congressional approval, Kamarck said.<h2 id="0f11a880-6c1f-4025-a722-a860ae33d16c">The DOGE's $2 trillion goal is something of a pipe dream.</h2>Federal spending <a target="_blank" href="https://www.businessinsider.com/trump-elon-musk-vivek-ramaswamy-department-government-efficiency-doge-2024-11">reached $6.75 trillion in 2024</a>. Multiple experts told BI that it's unlikely Musk will be able to cut his desired $2 trillion without sacrificing programs that have wide bipartisan support or fall under federal mandatory spending, like Medicare and Social Security. Kamarck called the $2 trillion goal the "most unrealistic" part of the whole DOGE plan.Trump has long been preoccupied with cutting what he sees as Washington's waste and fraud."The Department of Government Efficiency (DOGE) will ultimately be staffed and dedicated to this mission," Brian Hughes, a spokesperson for Trump's transition team, told BI in a statement.Quoting former Rep. Barney Frank, Kamarck said that excess federal spending is "marbled" <a target="_blank" href="https://www.businessinsider.com/elon-musk-vivek-ramaswamy-doge-government-efficiency-what-us-spends-2024-11">throughout the budget</a>, like fat throughout a steak, making the DOGE's desired $2 trillion in cuts tricky."It just doesn't work, unless you decide to start cutting Social Security benefits or Medicare, at which point all hell breaks loose," she told BI. "And you know, the bromance between Trump and Musk will end very quickly."Known for <a target="_blank" href="https://www.businessinsider.com/elon-musk-efficiency-companies-tesla-spacex-x-2024-11">streamlining efficiency at his companies</a>, Musk says he wants to cut bureaucracy, shrink the federal workforce, and trim the number of federal agencies down to no more than 99 (there are currently <a target="_blank" href="https://www.federalregister.gov/agencies">more than 440</a>).Douglas Holtz-Eakin, the former director of the Congressional Budget Office, told BI that he doubted that the loosely defined group would be able to accomplish much given its sprawling $2 trillion target."It is hard for me to get seriously ginned up about it until there's a real structure there that suggests that this makes some sense and has a purpose," he said. "If something is designed to do everything, it will do nothing."<h2 id="6bcaf431-1be5-4839-9b83-d0f24a7146cf">The DOGE will exist "outside of government."</h2>In one scenario, the DOGE could function as an advisory committee, which Trump can create through an executive order. The president-elect said the DOGE will work with the Office of Management and Budget, which prepares the president's budget request for Congress."They have made clear that this is a non-governmental department, which is not a familiar term, and so it's not really clear how the organization will operate because of that," Lisa Gilbert, co-president of the progressive nonprofit advocacy group Public Citizen, told BI. "It might be an advisory committee of non-governmental actors, but even from that posture, it won't have the authority to alter budgets or fire employees or rescind regulations."<div type="image" title="Donald Trump and Elon Musk" height="1910" width="2707" msid="115360796" hostid="261" sizebytes="118134"></div>Kamarck said that there are specific rules laying out how much interaction external committees can have with the government, but it's not clear how Trump, Musk, and Ramaswamy envision the <a target="_blank" href="https://www.businessinsider.com/elon-musk-doge-hiring-staff-how-to-apply-2024-11">internal infrastructure of the DOGE</a>."How are they going to talk to each other? How are they going to meet with each other? Are they going to go talk to anybody in the government, or are they just going to make up things from 50 miles away?" she said.On November 14, the DOGE <a target="_blank" href="https://x.com/DOGE/status/1857076831104434289">said in a post on X</a> that it is seeking "super high-IQ small-government revolutionaries willing to work 80+ per week on unglamorous cost-cutting." Musk said on his <a target="_blank" href="https://x.com/elonmusk/status/1857112441529700671">personal X account</a> that the positions will not be paid.<h2 id="4c25da3e-39de-44e2-a1c5-c7249f9fc728">Trump has talked about changing a key law that limits his federal spending power.</h2>Trump, Musk, and Ramaswamy may try to circumvent the congressional obstacles standing in the way of their cost-cutting agenda. Last year, Trump expressed interest in going after the Impoundment Control Act, a 1974 provision that requires the president spend funds that Congress has appropriated."Bringing back Impoundment will give us a crucial tool with which to obliterate the Deep State, Drain the Swamp, and starve the Warmongers," the president-elect <a target="_blank" href="https://www.donaldjtrump.com/agenda47/agenda47-using-impoundment-to-cut-waste-stop-inflation-and-crush-the-deep-state">said in a video</a> in June 2023.Holtz-Eakin said attempting to skirt the impoundment act would be like rewriting history, and Kamarck told BI that any attempt to not spend money that Congress has appropriated poses big Constitutional questions."If he tries to change the law so that he can impound funds, my guess is there'll be a fight in the Congress and he'll lose," she said.<h2 id="4956dc95-91da-4028-b1b3-d843a1509397">Musk could bump up against many conflicts of interest but likely wouldn't have to divest from his companies.</h2>If the DOGE is a federal advisory committee, Musk and Ramaswamy would likely be "special government employees," who are experts or consultants that can work for a federal agency or the White House for up to 130 days. They do not get paid and, crucially, would not have to divest from their companies."They've been clear also that they're staying in their roles as the heads of companies and in other places," Gilbert said. "Not being a part of government means they don't have to deconflict themselves."In a press release for Public Citizen, Gilbert said that Musk's "own businesses have regularly run afoul of the very rules he will be in position to attack" as the DOGE co-lead.<div type="image" title="Donald Trump and Vivek Ramaswamy" height="5504" width="8256" msid="115360795" hostid="261" sizebytes="4296554"></div>In the role, Musk and Ramaswamy would still be bound to federal ethics laws and have to recuse themselves from conversations that affect them personally, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-11-14/doge-what-can-musk-do-with-the-department-of-government-efficiency?srnd=homepage-americas">Bloomberg</a> reported. With his companies under investigation from at least 20 federal regulatory agencies and SpaceX having more than $15 billion in federal contracts, Musk could face many such conflicts.Kamarck said that there's no "firm line" about when employees need to take themselves out of discussions, but that lawyers address questions on a case-by-case basis.Musk has expressed public frustration with what he views as overbearing federal oversight, which he said has <a target="_blank" href="https://www.nytimes.com/2024/11/12/us/politics/elon-musk-vivek-ramaswamy-trump.html">slowed down his pace of business</a>.By law, meetings of advisory committees, like the kind the DOGE could be, need to be open, and Musk has no problem with the <a target="_blank" href="https://www.businessinsider.com/elon-musk-doge-leaderboard-federal-government-spending-trump-2024-11">transparency</a> — in fact, he seems to invite it. In a post on X, the billionaire promised to post all of the group's actions online <a target="_blank" href="https://www.businessinsider.com/elon-musk-leaderboard-government-spending-marketing-genius-doge-donald-trump-2024-11">"for maximum transparency</a>" and said the public should chime in with their opinions.It's also possible the group might intentionally avoid becoming a federal committee because of the increased oversight and scrutiny, Holtz-Eakin said."It's not a federal committee as far as I can tell," he said. "I think that's deliberate. If you do that, then you're subject to lots of things like a conflict of interest you have to sign off on, and I think that would be a nightmare for Mr. Musk. And so they're not going to let it tiptoe toward federal jurisdiction."Until Trump actually forms the DOGE, if he ever does, the legal and bureaucratic details remain murky, and the experts BI spoke with aren't convinced that it will work well."It sounds a little screwy, frankly," Kamarck said.

How Elon Musk's Department of Government Efficiency could actually work

<keyword id="24240143" type="General" weightage="20" keywordseo="Chennai-International-Airport" source="keywords" meta.keywordsubtype="org" meta.entityname="Chennai International Airport" meta.hostid="261" meta.entityid="Chennai International Airport">Chennai International Airport</keyword> has been temporarily shut down till 7 PM on Saturday in view of <keyword id="24172195" type="General" weightage="100" keywordseo="Cyclone-Fengal" source="keywords">cyclone Fengal</keyword> making landfall today evening. As heavy rainfall and strong winds intensified ahead of the cyclone, it is expected to cross between Karaikal and Mahabalipuram coasts, near Puducherry tonight. Multiple airlines companies already issued travel advisories and updates on their flight plans due to the continuing heavy rainfall in Chennai Tamilnadu. Earlier, <keyword id="19900374" type="General" weightage="20" keywordseo="IndiGo-airlines" source="keywords" meta.keywordsubtype="org" meta.entityname="IndiGo airlines" meta.hostid="261" meta.entityid="IndiGo airlines">IndiGo airlines</keyword> diverted all flights scheduled to come to Chennai. "Due to the impact of CycloneFengal in Chennai, flights operating to the city are being diverted. Our crew and airport teams are dedicated to providing all possible support &amp; assistance during this time. We sincerely appreciate your patience and understanding," the X post by IndiGo said. Meanwhile, security at the Puducherry coast has also increased as Puducherry Senior Superintendent of Police, Kalaivanan visited the beaches and the coastal roads in the region and inspected them for preparedness. The authorities have advised the public to not visit beaches in Puducherry as well as in Tamil Nadu's Chennai, including Marina Beach, Pattinapakkam and Edward Elliot Beach. The tourist spots in Puducherry have been closed as a precautionary measure, owing to the impending cyclone Fengal. <keyword id="24240138" type="General" weightage="20" keywordseo="Puducherry-police" source="keywords">Puducherry Police</keyword> in a post on X advised citizens, "In view of Cyclone Fengal, we urge you to exercise extreme caution and avoid visiting beaches and coastal areas" The SSP said that 300 police personnel have been deployed on various coastal roads and beaches. "For the last four days, we have been deploying police personnel along the beaches and apart from that we are also informing the fishermen and people living in the low-lying areas to be careful. Fishermen are not venturing into the sea. Since last night, we have closed all beaches. We have deployed nearly 300 personnel across all the beaches of Puducherry and we are coordinating with the NDRF also," the SSP said. The coastal areas of Puducherry witnessed rough sea and gusty winds on Saturday morning due to the impact of the cyclone. Puducherry received moderate rain, as per IMD, in the morning today but the rough sea was seen more than usual.

Cyclone Fengal: Chennai airport shut till 7 PM

<ul class="summary-list"><li>Dogecoin spiked 15% on Wednesday after Donald Trump announced a DOGE department.</li><li>The department will task Elon Musk and Vivek Ramaswamy with cutting government expenditures.</li></ul><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/doge-usd">Dogecoin</a> has gotten a big boost since Donald Trump won the presidential election last week amid a market-wide surge for cryptos of all types.The dog-themed crypto had surged roughly 140% since November 6, the day after the election, through Tuesday. It added an additional 15% on Wednesday as of 11:15 a.m. in New York.The latest move higher came on the heels of Donald Trump <a target="_blank" href="https://x.com/realDonaldTrump/status/1856658569124262092">officially announcing</a> plans for a Department of Government Efficiency, or DOGE. He said Elon Musk and Vivek Ramaswamy, will head the initiative, helping Trump's administration cut government expenditures. The acronym is viewed as direct nod to the token.Musk's appointment to DOGE is seen as at least partially responsible for the meme token's climb on Wednesday, given the billionaire's enthusiasm for the token. In 2021, the billionaire branded himself as the "<a target="_blank" href="https://x.com/elonmusk/status/1387290679794089986?lang=en">Dogefather</a>," and has a reputation for <a target="_blank" href="https://www.businessinsider.com/what-is-dogecoin-2013-12?utm_medium=ingest&amp;utm_source=markets&amp;_gl=1*l60gzy*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTczMTUxMTYyOC44MjcuMS4xNzMxNTExNzc1LjU2LjAuMA..">sparking dogecoin rallies</a> simply by commenting on it.As of Wednesday morning, dogecoin's market value hit $63 billion, making it worth more than long-standing Wall Street staples <a target="_blank" href="https://markets.businessinsider.com/news/stocks/dogecoin-price-market-value-ford-crypto-boom-trump-elon-musk-2024-11">such as Ford</a>, MetLife, and Norfolk Southern.Dogecoin is riding post-election momentum that has the entire crypto economy soaring. Trump — who has labeled himself as Washginton's first "crypto president" — is expected to introduce <a target="_blank" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-crypto-industry-donald-trump-election-reserve-regulation-sec-2024-11?_gl=1*1f4wh5x*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTczMTUxMTYyOC44MjcuMS4xNzMxNTEyMDE1LjYwLjAuMA..">regulatory and legislative reforms</a> that could <a target="_blank" href="https://markets.businessinsider.com/news/currencies/donald-trump-victory-big-win-for-crypto-bitcoin-ceo-2024-11">bring a golden era</a> to the crypto economy.<a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> has also gained sharply from this, soaring to a fresh record of nearly $92,000 as of 10:30 a.m. ET on Wednesday.Altogether, the broader crypto market now holds a total valuation of over $3 trillion, marking a gain of more than $700 trillion since the election.

Dogecoin spikes another 15% after Musk appointed to lead DOGE department for Trump

<ul class="summary-list"><li>Donald Trump announced on Tuesday that Elon Musk would co-lead his new government efficiency drive.</li><li>The unofficial Department of Government Efficiency is already verified on X with a gray tick.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/elon-musk">Elon Musk's</a> Department of Government Efficiency is already verified on X as an official government entity, and could be in violation of the platform's rules on verification.President-elect <a target="_blank" class="" href="https://www.businessinsider.com/trump-elon-musk-vivek-ramaswamy-department-government-efficiency-doge-2024-11">Donald Trump announced on Tuesday</a> that Tesla CEO Musk and businessman Vivek Ramaswamy will lead the Department of Government Efficiency, nicknamed DOGE.Trump said the new agency would work to cut regulation and slash spending.The former and future president said Musk and Ramaswamy will "provide advice and guidance from outside of Government."After less than two days, the <a target="_blank" class="" href="https://x.com/DOGE">DOGE account on X</a> has the platform's gray verified checkmark, which is used to identify government or multilateral organization accounts.According to <a target="_blank" class="" href="https://help.x.com/en/rules-and-policies/profile-labels">X's rules on checkmarks</a>, organizations eligible for the gray checkmark are generally reserved for executive office accounts, government agency accounts, and embassy and state-level accounts, as well as accounts held by government officials and heads of state.As DOGE is not an official government department, having the gray checkmark may violate X's rules.Musk used X as a megaphone for his outspoken support of Donald Trump during the election campaign, frequently posting messages of support for the former president and <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-going-all-in-recruit-billionaire-peers-trump-vance-2024-7">using the site to try and win over other Silicon Valley billionaires</a>.After the president-elect confirmed Musk's new role, the Tesla CEO said he planned to <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-leaderboard-government-spending-marketing-genius-doge-donald-trump-2024-11">post a public leaderboard of "the most insanely dumb spending of your tax dollars"</a> and let users weigh in on specific potential cuts.Musk has also hailed Trump's election victory as vindication of his $44 billion purchase of X, then called Twitter, in 2022, repeatedly telling users, <a target="_blank" href="https://x.com/elonmusk/status/1856637767758815323">"You are the media now"</a> in the aftermath of the result.X did not respond to a request for comment from Business Insider sent outside normal working hours.

Elon Musk's DOGE isn't an official department. It has a government checkmark on X.

<ul class="summary-list"><li>Elon Musk pushed for federal regulation of autonomous vehicles during Tesla's earnings call.</li><li>The Tesla CEO has previously said he'd be interested in a cabinet role under a second Trump admin.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/tesla-ceo-elon-musk">Elon Musk</a> said Wednesday that he thinks autonomous vehicles should be approved at the federal level, rather than state by state, and that if he ends up with a role in the White House, he'd make it happen.The Tesla CEO made the comment on the company's earnings call Wednesday. <a target="_blank" class="" href="https://www.businessinsider.com/tesla-stock-tsla-earnings-call-report-live-updates-2024-10">Tesla's third-quarter earnings</a> beat expectations, and its stock was up 12% in after-hours trading following the earnings release.Musk said during the call that he expects Tesla to have unsupervised fully autonomous vehicles on the road in Texas and California next year, pending state approval. He said he would be "shocked" if the company did not get approval, but that he thinks in general it would be better if autonomous vehicles were approved on the federal level."There should be a federal approval process for autonomous vehicles," Musk said on the call, adding, "If there's a department of government efficiency, I'll try to help make that happen. For everyone, not just Tesla."Musk did not mention Trump by name, but he previously said he would be enthusiastic to take on a White House role centered on enforcing <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-government-efficiency-ideas-wrong-experts-2024-9">government efficiency</a> should Donald Trump take office."I can't wait," Musk said on X, in response to a Washington Post report about Trump floating the idea of a <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-trump-cabinet-election-x-2024-9">cabinet role for the billionaire</a>. "There is a lot of waste and needless regulation in government that needs to go."The US regulates autonomous vehicles on a state and federal level, according to the <a target="_blank" class="" href="https://www.ncsl.org/transportation/autonomous-vehicles">National Conference of State Legislatures</a>. At least 29 states have enacted laws related to autonomous vehicles, the association said.Since his endorsement of Trump in July, Musk has been aiding the Trump campaign's ground game, flying to <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-private-jet-hits-swing-states-campaigns-donald-trump-2024-10">swing states</a>, hosting town halls, and setting up <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-1-million-giveaway-legal-questions-2024-10">sweepstakes</a> that encourages people to vote, which some legal experts say could breach election law.At a Pennsylvania town hall on October 18, Musk proposed firing an unspecified number of federal workers while providing them a two-year severance.Musk did not respond to a request for comment.

Elon Musk said he'd push to regulate autonomous driving on the federal level 'if there's a department of government efficiency'

<ul class="summary-list"><li>Investors boosted stocks after Donald Trump won a second term.</li><li>But investors shouldn't depart from their long-term investing plan, Morningstar's Dave Sekera says.</li></ul>Investors had a field day on Wednesday, <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-election-win-stock-market-today-record-high-sp500-dow-2024-11">plowing money into the stock market</a> following the news that former president Donald Trump had won a second term. The S&amp;P 500 rose 2.5%, while the Dow Jones Industrial Average ended the day up a whopping 3.5%.But even as prices soar, it's important not to get caught up in the mania beyond your normal risk tolerance, warns Morningstar Senior US Market Strategist Dave Sekera."Don't let any of these dire headlines that you may see here in the short term dissuade you from your long-term investment objectives," Sekera said in a webinar on Wednesday morning."Based on your risk tolerance, I probably wouldn't be making any changes here today," he continued. "And when you do make changes, make sure that you're only making changes when there's really a change in your underlying fundamentals and only make changes in your portfolio based on an informed analysis."While not letting near-term developments derail your plan for your portfolio is classic advice, Sekera said there's another reason to be extra cautious: stock valuations are at some of their most expensive levels in the last decade-and-a-half."When I look at the market today, it is trading, with today's bump, probably a 3% to 4% premium above fair value," he said. "Now, a lot of investors may say, 'Eh, 3% to 4% doesn't sound like that much from a market point of view,' but when I look at our valuations going back to 2010, less than 20% of the time have we seen the market trade at this much of a premium or more."While Morningstar has its own proprietary valuation measures, common metrics show the S&amp;P 500 is indeed expensive. Below is the Shiller cyclically-adjusted price-to-earnings ratio, for example. It's a 10-year rolling average of the market's trailing 12-month PE ratio.<div type="image" title="shiller cape ratio" height="943" width="1242" msid="115062287" hostid="261" sizebytes="44672"></div>These valuation levels have prompted some <a target="_blank" class="" href="https://www.businessinsider.com/stock-market-crash-why-sp500-decade-weak-returns-goldman-jpmorgan-2024-11">top investment banks</a>, including Goldman Sachs, to warn of relatively poor returns in the coming decade.At the same time, investors are probably right to be excited about the prospect of lower taxes and regulation, Sekera said. Even what some investors may view as negatives, like tariffs and the potential inflation that could result from them, may end up being a boon for stocks, he said."From the stock point of view, for those companies that have pricing power, that actually could end up helping them generate some additional earnings growth," he said.If Republicans end up taking a majority in the House of Representatives alongside their victory in the Senate and the White House, bullishness around more tax cuts may especially be well founded, according to Sekera.Still, markets are unpredictable, and investors shouldn't overreact to events like elections, as there are many variables at play beyond who is in political power — like starting valuations. Sekera pointed to a recent article from his colleague John Rekenthaler, where he highlighted that oil stocks have done much better under President Joe Biden than they did during Trump's first term, despite their differing attitudes toward the fossil fuel industry.That's again why Sekera is urging restraint, with the market being expensive. That is particularly true for growth stocks, which trade at a "very large premium," he said.Value stocks and small-caps are where Sekera sees the most opportunity — especially in the latter."The small-cap space, even with today's bump, it's still the most undervalued part of the market in our view," he said.

Why you shouldn't get caught up in the post-election stock-market frenzy: Morningstar

<ul class="summary-list"><li>The Washington Post's decision not to endorse a presidential candidate has sparked a staff backlash.</li><li>The paper reported owner Jeff Bezos made the call and that a Harris endorsement was planned.</li></ul>Washington Post editorial staff are in revolt after the paper <a target="_blank" href="https://www.washingtonpost.com/style/media/2024/10/25/washington-post-endorsement-president/">reported</a> that it wouldn't <a target="_blank" href="https://www.businessinsider.com/jeff-bezos-owned-washington-post-wont-endorse-presidential-candidate-2024-10">endorse a presidential candidate</a> for the first time in 40 years and that its owner <a target="_blank" class="" href="https://www.businessinsider.com/jeff-bezos-life-career-education">Jeff Bezos,</a> Amazon's founder, made the decision.Editor at large Robert Kagan, who has warned in columns of a "Trump Dictatorship," has resigned, Semafor <a target="_blank" class="" href="https://www.semafor.com/article/10/25/2024/editor-resign-subscribers-cancel-as-washington-post-non-endorsement-prompts-crisis-at-bezos-paper">reported</a>, and insiders predicted more would follow.A member of the editorial department, speaking anonymously to protect their job, said the editorial board was in the dark on the decision until Friday."People are furious. It's frightful when a billionaire does not have the nerve to stand up to Donald Trump," this person said."I've seen a lot of angst; people are upset," another Washington Post insider said.Publisher and CEO Will Lewis announced the decision in a Friday <a target="_blank" href="https://www.washingtonpost.com/opinions/2024/10/25/washington-post-endorsement/">column</a>, saying he wanted readers to make up their own minds, helped by the paper's "non-partisan news" and "reported views from our opinion team." He said the paper has refrained from endorsing candidates in the past.Separately, the newspaper published a story citing anonymous sources saying editorial page staffers had already drafted a Harris endorsement that had yet to be published.The newspaper's editorial guild posted a <a target="_blank" href="https://x.com/PostGuild/status/1849868082900250885/photo/1">statement</a> saying Lewis' decision raised concerns that management interfered with the editorial department and readers were canceling their subscriptions."This decision undercuts the work of our members at a time when we should be building our readers' trust, not losing it," the union wrote.Some people posted on X that they canceled their subscriptions in response to the news.Retired WaPo executive editor Marty Baron also posted on X, calling the decision "cowardice, with democracy as its casualty."A spokesperson for the Washington Post referred to Lewis' statement and declined to comment on any follow-up questions. A Bezos rep didn't immediately respond to a request for comment.The decision has stoked fears that news outlets are censoring themselves out of fear of retaliation by former President Donald Trump, who has publicly called for <a target="_blank" class="" href="https://www.businessinsider.com/trump-said-hed-be-entitled-to-a-revenge-tour-if-reelected-2023-2">revenge against his enemies</a>. The Los Angeles Times endorsed statewide candidates but declined to endorse a presidential candidate this year, prompting three staff <a target="_blank" href="https://www.npr.org/2024/10/24/nx-s1-5163293/la-times-editor-resigns-trump-msnbc-washington-post">resignations</a>.The decision also reflects the challenges of operating a media company in a deeply divided era where trust in the media is eroding.The LA Times and Washington Post are among a handful of news outlets, in addition to Time and The Boston Globe, that have been acquired in recent years by billionaires who made their money in other areas. The recent endorsement controversies may throw some cold water on the billionaire-as-newspaper-savior dream.Bezos and Trump have <a target="_blank" class="" href="https://www.businessinsider.com/jeff-bezos-offers-condolences-to-trump-rally-shooting-feud-2024-7">feuded</a> over the years. The Post saw subscriptions soar as it pursued aggressive reporting on Trump's administration and launched the advertising tagline, "Democracy Dies in Darkness." Trump has mocked Bezos and the Washington Post, calling him "Jeff Bozo." But Bezos shared words of support after the July shooting at a Trump rally.Many CEOs have declined to speak publicly on the razor-thin presidential race. Top executives have historically taken the stance that wading into politics can be bad for business, lest they alienate part of their customer base.The endorsement upheaval is the latest for the paper and Lewis, who faced <a target="_blank" href="https://www.npr.org/series/g-s1-5254/washington-post-crisis">scrutiny</a> when he replaced top editor Sally Buzbee — and then his choice of replacement backed out. Lewis also has faced questions over his past role in a UK phone hacking scandal.

The Washington Post faces staff revolt after declining to endorse a presidential candidate: 'People are furious'

<ul class="summary-list"><li>People are posting statements on social media forbidding Meta from using their data to train AI.</li><li>Even celebrities like Tom Brady and Cat Power have joined the "Goodbye Meta AI" movement.</li></ul>Can the "Goodbye Meta AI" copypasta that's been floating around Instagram Stories — even getting posted by celebrities like <a target="_blank" class="" href="https://www.bbc.com/news/articles/cj4d5jjqg2qo">Tom Brady, Cat Power, and James McAvoy</a> — actually stop Meta from using people's data to help train AI?No, Meta says: The statements aren't legally binding. (They're jibberish, full of barely legalese language that should have been obvious to celebrities who have presumably seen and signed various contracts during their lifetime. But that's just my two cents!)<div type="image" title="copypasta text about ai on meta" height="1359" width="1035" msid="113719296" hostid="261" sizebytes="61014"></div>Still, just because this goofy "<a target="_blank" class="" href="https://www.merriam-webster.com/dictionary/copypasta">copypasta"</a> apparently has no bearing on Meta's standing with its users doesn't mean Meta shouldn't take it seriously.People are sharing it because they're worried about AI and what it means for them. They think it's some invasive thing that's being done to them, taking away their content without their permission.And this isn't some paranoid delusion. <a target="_blank" class="" href="https://www.businessinsider.com/facebook-instagram-posts-meta-ai-training-how-to-opt-out-2024-9">It's actually happening!</a> Meta is indeed using public Facebook posts and photos going back as far as 2007 for training its AI models. There is no opt-out, either (except in the EU, where regulations require it) other than setting your posts to private.This copypasta going around <a target="_blank" class="" href="https://www.businessinsider.com/instagram">Instagram</a> probably seems familiar. Versions of stuff like this have bubbled up every few years on Facebook — some copy/pasted text that claims to innoculate the user who posts it against some rapacious action of the tech overloads who run the place.Business Insider <a target="_blank" class="" href="https://www.businessinsider.com/facebook-privacy-notice-hoax-2015-1">debunked these types of posts in 2015</a> — twice, and <a target="_blank" class="" href="https://www.businessinsider.com/facebook-privacy-notice-hoax-2015-1">Facebook's PR department even posted</a> about them back in 2012. And you can find news reports discrediting posts like this when they surged again in 2016 and 2019.Yes, these are all silly, poorly written, and clearly not legal documents. But they have always spoken to the power imbalance that some users feel on <a target="_blank" class="" href="https://www.businessinsider.com/facebook">Facebook</a> and Instagram: We love using these products, and we love using them for free, but we kind of feel like we're being exploited somehow, whether or not that's a fair assessment.Facebook has had large and serious issues with user privacy — it's no wonder some users are skeptical about it! People's willingness to fall for these copypastas isn't a sign that people are rubes; it's a sign of how Facebook has sometimes failed to earn people's trust over the years.In an interview on the eve of the <a target="_blank" class="" href="https://www.businessinsider.com/meta-connect-live-updates-mark-zuckerberg-keynote-2024-9">Meta Connect event</a> this week, The Verge's <a target="_blank" class="" href="https://www.theverge.com/24253481/meta-ceo-mark-zuckerberg-ar-glasses-orion-ray-bans-ai-decoder-interview">Alex Health directly asked</a> Mark Zuckerberg if he understood why people feel weird about AI. The Meta CEO didn't exactly answer:When it comes to using people's Facebook or Instagram posts to train AI, people could have reason to feel uncomfortable. Meta should listen to this outpouring of some of its users' sentiments: They feel weird and bad about their stuff being used to train AI.

In defense of that 'Goodbye Meta AI' post that's all over Instagram

Today is <keyword id="22458495" type="General" weightage="20" keywordseo="July-31st" source="keywords">July 31st</keyword>, 2024, the last day to file your income tax returns, without having to pay any penalties. And before you ask, the <keyword id="19903456" type="General" weightage="20" keywordseo="income-tax-department" source="keywords">Income Tax Department</keyword> has not come out with any notification informing the taxpayers of a deadline extension. That is why you should not delay filing your <a href="https://www.businessinsider.in/personal-finance/article/heres-your-ready-reckoner-for-itr-filing/articleshow/111402608.cms" data-type="tilCustomLink">income tax returns</a> anymore! The <keyword id="20171597" type="General" weightage="20" keywordseo="IT-department" source="keywords">IT department</keyword> noted that as of July 26th, 2024, over 5 crore ITRs had already been filed, marking an 8.5% increase from the number of ITRs filed during this period, last year. The IT department, in an X post, highlighted that last year, it had reached the 5-crore <keyword id="22083160" type="General" weightage="100" keywordseo="ITR-filing-deadline" source="keywords">ITR filing deadline</keyword> on July 27th. However, this year, it had breached the milestone a day earlier, i.e., on July 26th, 2024. Earlier, the All Gujarat Federation of Tax Consultants and Income Tax Bar Association had requested a deadline extension for AY 2024–25 from July 31st, 2024, to August 31st, 2024, citing issues and glitches in the tax filing portal. However, there has been no response from the finance ministry on the same. <h2>What happens if I don't file my ITR until July 31st? </h2>For AY 2024–25, you can file a <keyword id="6380232" type="General" weightage="20" keywordseo="belated-ITR" source="Orion">belated ITR</keyword> until December 31st, 2024. But remember, it comes with many disadvantages as well. Here's a snapshot of all the benefits you will have to forego: <h2>What are the penalties for late filing of ITR? </h2>1. You will have to pay a penalty of Rs. 1,000 if your total annual taxable income is below Rs 5,00,000. But if your taxable income exceeds this threshold, you will have to pay a penalty of Rs 5,000. 2. Even if you have to file a <keyword id="17933087" type="General" weightage="20" keywordseo="NIL-ITR" source="Orion">nil ITR</keyword>, you must do so before July 31st. This is because if you do not end up filing it on time, you will have to pay a fine of Rs 1,000. 3. According to Section 234A of the <keyword id="19936187" type="General" weightage="20" keywordseo="income-tax-act" source="keywords">Income Tax Act</keyword>, you will also have to pay interest on your outstanding tax amount at the rate of 1% per month, starting from the due date, i.e., July 31st. <h2>No carry forward of losses, old tax regime</h2>1. You will not be able to carry forward any losses, including those from your mutual funds or stock investments, business income, and other sources. You will only be allowed to carry forward your losses from house properties. This could significantly raise your total tax liability and lead to you incurring hefty losses. 2. After July 31st, 2024, you will not be able to opt for the old tax regime for tax calculation purposes. Starting August 1, the new tax regime, which offers significantly fewer deductions and exemptions as compared to the old regime, will be considered default for you. Also read: <a href="https://www.businessinsider.in/personal-finance/article/decoding-form-16-how-do-you-file-your-taxes-if-you-dont-get-form-16/articleshow/111529754.cms" data-type="tilCustomLink">Decoding Form 16: How do you file your taxes if you don't get Form 16?</a> <a href="https://www.businessinsider.in/finance/tax/article/wondering-which-itr-form-is-right-for-you-know-all-about-it-here/articleshow/111406215.cms" data-type="tilCustomLink">Wondering which ITR form is right for you? Know all about it here</a>

ITR Filing: Today is the last day to file your income tax returns, so file today to avoid penalties

<keyword id="19959243" type="General" weightage="100" keywordseo="Delhi-Health-Minister" source="keywords">Delhi Health Minister</keyword> <keyword id="19972125" type="General" weightage="20" keywordseo="Saurabh-Bhardwaj" source="keywords">Saurabh Bhardwaj</keyword> alleged on Sunday at a press conference that Delhi <keyword id="19943297" type="General" weightage="20" keywordseo="Lieutenant-Governor" source="keywords">Lieutenant Governor</keyword> (LG) Vinai Kumar Saxena's office is spreading falsehoods and ignoring the acute shortage of <keyword id="21896384" type="General" weightage="20" keywordseo="medical-personnel" source="keywords">medical personnel</keyword> in Delhi government hospitals. Health Minister Saurabh Bhardwaj stated that nature seems to repeatedly create opportunities to expose Delhi's <keyword id="21554677" type="General" weightage="20" keywordseo="LG-Vinai-Saxena" source="keywords">LG Vinai Saxena</keyword>, who is ruling Delhi, and reveal his truth to the whole country. The Delhi Health Minister continued, "The LG continuously hides behind his office and indirectly spreads lies to the public and the media. One such lie was again presented to the media yesterday from the LG's office. I request the LG to stop hiding behind his office and indirectly presenting lies to the public. Instead, he should hold a press conference and write these lies himself to present them to the media and the people of the country so that action can be taken against him for his falsehoods." He mentioned that the poorest of the poor from Delhi and surrounding states come to <keyword id="20456169" type="General" weightage="20" keywordseo="Delhi-hospitals" source="keywords">Delhi hospitals</keyword> with the hope of receiving adequate treatment. However, due to the significant <keyword id="22439640" type="General" weightage="20" keywordseo="shortage-of-doctors" source="keywords">shortage of doctors</keyword>, nurses, <keyword id="22298861" type="General" weightage="20" keywordseo="paramedical-staff" source="keywords">paramedical staff</keyword>, lab technicians, and OT technicians in Delhi hospitals, these poor people are not able to receive adequate and complete treatment, which is being done deliberately under a conspiracy. Minister Saurabh Bhardwaj expressed his surprise at a news article that stated it is the Delhi government's responsibility to fill the <keyword id="20499569" type="General" weightage="20" keywordseo="vacant-posts" source="keywords">vacant posts</keyword> of doctors, nurses, and other paramedical staff in Delhi hospitals. He emphasized that everyone knows the 'Services' Department falls directly under the LG of Delhi, making it the responsibility of the Lieutenant Governor to fill these vacancies. The Health Minister presented letters he had written earlier to the LG informing him about these vacancies. He stated that after taking over as the Health Minister of Delhi in March 2023, he wrote his first letter to the LG on April 19, 2023, informing him of a shortage of 292 General Medical Duty Officers (GDMOs) and 234 Specialists in Delhi Government hospitals, and appealed for these vacancies to be filled as soon as possible. No action was taken to fill these vacancies. Instead, doctors holding high positions in Delhi Government hospitals through <keyword id="22672127" type="General" weightage="20" keywordseo="Central-Health-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Central Health Services" meta.hostid="261" meta.entityid="Central Health Services">Central Health Services</keyword> (CHS) were also recalled by the Central Government, removing them from Delhi Government hospitals.

Delhi Health Minister accuses LG Vinai Saxena of not filling vacant posts in Delhi hospitals

<ul class="summary-list"><li>A Telegram group posted what it says is leaked US intel on Israel's attack plans against Iran.</li><li>Middle East Spectator shared the documents but couldn't verify their authenticity.</li></ul>A <a target="_blank" class="" href="https://www.businessinsider.com/telegram-ceo-pavel-durov-arrested-french-airport-2024-8">Telegram</a> channel posted what it says are "highly classified" US intelligence documents analyzing <a target="_blank" class="" href="https://www.businessinsider.com/category/israel">Israel</a>'s plans to attack Iran.The channel for the "Middle East Spectator," which describes itself as an "open-source news aggregator" independent of any government, said in a statement that it had "received, through an anonymous source on Telegram who refused to identify himself, two highly classified U.S. intelligence documents, regarding preparations by the Zionist regime for an attack on the Islamic Republic of Iran."The Middle East Spectator said in its posted statement that it could not verify the authenticity of the documents.No US or Israeli officials have publicly commented on the possible leak. Axios reported that intelligence officials declined to comment but did not dispute the veracity of the documents.Spokespersons for the Department of Defense did not immediately respond to a request for comment made by Business Insider.The region is bracing for an expected Israeli attack on Iran. Israeli officials have said it plans to retaliate for Iran's October 1 missile attack. The US announced this month <a target="_blank" class="" href="https://www.businessinsider.com/us-troops-israel-advanced-anti-missile-systems-lebanon-gaza-iran-2024-10">it would send troops</a> along with "a Terminal High-Altitude Area Defense (THAAD) battery" to Israel in response to Iran's attack.Iran's missile attack on Israel came in retaliation for Israel's assassination of <a target="_blank" rel="" class="" href="https://www.businessinsider.com/hezbollah-hassan-nasrallah-assassination-israel-iran-middle-east-escalation-2024-9">Hezbollah leader Hassan Nasrallah</a> in late September. Hezbollah is Iran's primary proxy in the region.

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