Yeshiva World News

US Could Run Short Of Money To Pay Its Bills By August Without A Debt Limit Deal, CBO Says

The United States is on track to hit its statutory debt ceiling — the so-called X-date when the country runs short of money to pay its bills— as early as August without a deal between lawmakers and the White House, according to a Congressional Budget Office report Wednesday. By that time, the government would no longer have enough of a financial cushion to pay all its bills after exhausting its “extraordinary measures” the accounting maneuvers used to stretch existing funds. Washington would risk defaulting on its debt unless Congress and Republican President Donald Trump agree to lift the borrowing limit or abolish the debt ceiling concept altogether. The debt limit was reinstated Jan. 2, following its suspension by Congress in the Fiscal Responsibility Act of 2023. “The Treasury has already reached the current debt limit of $36.1 trillion, so it has no room to borrow under its standard operating procedures,” according to the CBO report. An analysis released on Monday by the Bipartisan Policy Center estimates that the U.S. could run out of cash by mid-July if Congress did not raise or suspend the nation’s debt limit. Trump had previously demanded that a provision raising or suspending the debt limit — something that his own party routinely resists — be included in legislation to avert the last potential government shutdown. “Anything else is a betrayal of our country,” Trump said in a statement in December. That deal did not address the debt limit. After the debt limit was reinstated, in one of her last acts as Treasury Secretary, Janet Yellen said Treasury would institute “extraordinary measures ” intended to prevent the U.S. from reaching the debt ceiling. Since then, the Treasury Department has stopped paying into certain accounts, including a slew of federal worker pension and disability funds, to make up for the shortfall in money. Treasury Secretary Scott Bessent has continued to notify Congress about the use of extraordinary measures in an effort to prevent a breach of the debt ceiling. The CBO estimates that if the debt limit remains unchanged, then “the government’s ability to borrow using extraordinary measures will probably be exhausted in August or September 2025. The projected exhaustion date is uncertain because the timing and amount of revenue collections and outlays over the intervening months could differ from CBO’s projections.” (AP)

HISTORIC BLUNDER: New Trove Of Texts From National Security Chat Prove Top Trump Officials Discussed Classified Yemen Strike Plans

A major security breach involving top Trump administration officials has erupted into a full-blown crisis after The Atlantic editor-in-chief Jeffrey Goldberg published additional text messages from a Signal group chat, revealing detailed plans for a U.S. military strike on Yemen’s Houthi rebels. The revelations, which contradict earlier denials from senior officials, have sparked widespread condemnation and calls for accountability, exposing significant lapses in the handling of sensitive information. The controversy began earlier this week when Goldberg disclosed he had been inadvertently added to the encrypted chat by National Security Adviser Michael Waltz. The group, which included Vice President JD Vance, Defense Secretary Pete Hegseth, Secretary of State Marco Rubio, CIA Director John Ratcliffe, and Director of National Intelligence Tulsi Gabbard, was initially reported to have discussed operational details of a March 15 strike on Houthi targets. Administration officials, including Hegseth, dismissed the claims, with the Defense Secretary asserting, “No war plans were texted,” and others testifying under oath that no classified information had been compromised. However, the newly released texts, published today in The Atlantic under the headline “Here Are the Attack Plans That Trump’s Advisers Shared on Signal,” paint a starkly different picture. Among the messages, Hegseth is shown providing a precise timeline—“F-18s hit at 13:45 ET, drones follow”—while Waltz shares real-time updates from Sanaa: “Target down, confirmed kills.” The level of specificity has stunned security experts, who warn that such details, if intercepted, could have endangered U.S. personnel and operations. The White House has struggled to contain the damage. Press Secretary Karoline Leavitt maintained that the texts contained “no classified information” but objected to their publication, citing unspecified national security concerns. President Trump, speaking to reporters, initially claimed ignorance—“I don’t know anything about it”—before downplaying the incident as “the only hiccup in two months” and attacking Goldberg as a “sleazebag” and The Atlantic as a “failing rag.” Behind closed doors, however, administration sources acknowledge the situation as a major blunder. Reaction across Washington has been swift and bipartisan. Senator Mark Warner, the ranking Democrat on the Senate Intelligence Committee, labeled the incident “a breach of unimaginable proportions,” while Republican Senator John Cornyn called it “a huge screw-up.” House Minority Leader Hakeem Jeffries demanded Hegseth’s resignation, citing “gross incompetence.” Security experts have raised alarms about the use of Signal, a civilian encrypted messaging app, for such sensitive discussions. While secure, it falls short of government standards for handling classified or operational data, potentially violating federal protocols and laws like the Espionage Act. Congressional leaders have scheduled emergency hearings to investigate the breach, with lawmakers pressing for answers on how it occurred and why initial denials were issued. The administration now faces mounting pressure to address the fallout, as the incident threatens to undermine confidence in Trump’s national security team just months into his term. For now, the focus remains on the leaked texts—and the question of whether accountability will follow. (YWN World Headquarters – NYC)

Boro Park Shomrim Help NYPD Arrest Suspect in Forcible Touching Cases

BORO PARK: Thanks to the sharp-eyed volunteers of Boro Park Shomrim, a suspect wanted in connection with multiple forcible touching incidents in Boro Park was just arrested by the NYPD at New Utrecht Avenue and 44th Street. Boro Park Scoop had previously published a wanted poster for the suspect. (Via Boro Park Scoop)

Two Rockets Fired from Gaza at Southern Israel, One Intercepted

The Israeli military reports that two rockets were launched from central Gaza Strip targeting southern Israel, with one intercepted by air defenses and the other striking near the Zimrat border community, causing no immediate injuries.

Hear From Renowned Magid Harav Shlomo Miller: The Crisis Facing Chutznik Avreichim in Kiryat Sefer

As we approach Pesach, chutznik families living in Kiryat Sefer are excited, and are also overwhelmed. Will 12-year-old Chaya finally be able to get a new dress, or will she have to stay home because she is too embarrassed to be seen in her old dress. Will 10-year-old Moishe finally get new Shabbos shoes so that his friends will stop staring at the gaping holes in his shoes. Will Tatty sit at the Seder feeling like a king, or will his worries about his $30,000 debt vanquish his peace of mind. My friends, we all know that making Pesach costs a fortune, yet forthe Kollel families in Eretz Yisroel it is yet even more challenging. Duringthe year the avreichim can barely stay afloat [financially] and when it comes to Pesach they are drowning. This is now magnified due to the recent increase in living costs, just this past year alone prices have increased by over 20%. The avreichim so desperately want to give their families the clothing and food that will enable them to be B’simcha on Yom tov, although due to their financial situation this can be challenging. We plead to you, dear friends and klal yisroel. Please open your hearts and give a generous contribution to our Kollel Mishkan Betzalel Kimcha D’pischa fund. This way these brave/valiant Kollel families can come to the Pesach Seder feeling the joy and the royalty of the Seder night. Kollel Mishkan B’tzalel is comprised of 23 chutznik yungerleit who have left the comfort of their families and familiar surroundings in order to commit themselves to a life of high level Torah learning in the pure atmosphere of Eretz Yisroel. The Kollel is under the leadership of Harav Hagaon R’ Yaakov Rakow Shlita, son of the late Gateshead Rov zt”l. These families are fortunate to experience the immense satisfaction that comes with Kollel life, although the financial challenges can be quite daunting. [This is especially so, considering the unique circumstances of the chutznik families in Eretz Yisroel. For example, the average Israeli family owns their apartment, and many chutznikim do not, and rents have skyrocketed in the past year]. In the zechus of helping chutznik Kollel yungerleit who are immersed in Torah in Kiryat Sefer, may Hashem bentch you with tremendous success in all your endeavours and may we greet Mashiach speedily in our time. A kasheren freilachen Pesach. Click here to donate through the chesed fund When sending your donation please specify that it is for “MISHKAN BETZALEL KIMCHA CAMPAIGN” Chasdei Sara Toyba Tax ID: 842572824 Checks can be sent to: Chasdei Sara Toyba, C/O Mrs J Censor 337 Ridge Avenue Lakewood NJ 08701. ZELLE NUMBER: 3474096242. Direct transfer into the account: CHASE BANK, CST, A/C: 525259013 R/T: 021000021 Click here for credit card transfers:  When using the above link please select R’ Y. RAKOV/MISHKAN BETZALEL

Got Your First Job? Here Are Some Tax Tips For First Time Filers

The deadline to file your taxes is less than a month away, and if you’re doing them for the first time, you might be feeling added pressure. “It’s an incredibly daunting and stressful experience for many of them,” said Miklos Ringbauer, a certified public accountant based California. Planning ahead, doing your research and talking with experts can help first-time filers feel better about their taxes, Ringbauer said. The deadline to file your 2024 taxes is April 15. If you run out of time, you can file for an extension until Oct. 15. The extension is only to file your taxes, not to pay them. If you think you will owe taxes, you should pay an estimated amount before the deadline to avoid paying penalties and interest. If you expect to receive a refund, you will still get your money when you file your taxes. Here are some expert recommendations if you are filing taxes for the first time: Gather your documents The first step is to gather all the relevant documentation, said Eva Simpson, vice president of Member Value, Tax & Advisory Services for the American Institute of CPAs. “Tracking down documentation is key, especially if they may be in college and have correspondence sent to their parents house,” Simpson said. Ringbauer also recommends that you make a folder, either physical or electronic, with all of the documents you need so it’s easier to file your taxes. While the required documents might depend on your individual case, here is a general list of what everyone needs: — Social Security number — W-2 forms, if you are employed — 1099-G, if you are unemployed — 1099 forms, if you are self-employed — Savings and investment records — Any eligible deduction, such as educational expenses, medical bills, charitable donations, etc. — Tax credits, such as child tax credit, retirement savings contributions credit, etc. Talk to your parents Many young adults are still receiving some financial help from their parents when they’re ready to file their taxes for the first time. It’s important that first-time filers communicate with their parents in case they are being claimed as dependents, Simpson said. “Being claimed as a dependent affects their standard deduction and eligibility for certain credits,” said Simpson. Having a conversation with your parents will prevent you from claiming tax credits that you might not qualify for if they claim you as a dependent. If your parents claim you as a dependent, you will add this information to your tax return. Know about tax credits and deductions Knowing if you are eligible for any tax credits and deductions is a crucial step when filing your taxes, Simpson said. Tax credits can lower the amount of taxes you owe or increase the amount of your refund. Some relevant tax credits for first-time filers include the American Opportunity tax credit and the Earned Income credit. When it comes to deductions, you can either opt for a standard deduction or itemize. Itemizing generally only makes sense if your itemized deductions add up to more than the current standard deduction of $14,600 for a single filer and $29,200 for a married couple. “In many cases, first-time filers won’t need to be itemizing their expenses,” said Simpson. Doing research or asking a professional for the types of deductions and tax credits you qualify for can save […]

China Protests After U.S. Targets AI, Supercomputing Firms in Export Crackdown

China protested Wednesday after the U.S. added dozens of companies to its export control list, including more than 50 based in China that it says sought advanced knowhow in supercomputing, artificial intelligence and quantum technology for military purposes. Companies from Taiwan, Iran, Pakistan, South Africa and United Arab Emirates also were included in the roughly 80 companies added to the “entity list” of the Commerce Department’s Bureau of Industry and Security. Six are subsidiaries of the Inspur Group, China’s leading cloud computing and big data service provider. It was listed in the U.S. government’s entity list in 2023. The update also includes the Beijing Academy of Artificial Intelligence, which objected vehemently. “We are shocked that a private non-profit scientific research institution has been added to the entity list. We strongly oppose this wrong decision without any factual basis and ask the relevant U.S. departments to withdraw it,” the research institute said in a statement. A review committee said the BAAI and another company, the Beijing Innovation Wisdom Technology Co. were judged to have developed large AI models and advanced computer chips for military purposes. China’s Foreign Ministry also lashed back, saying the entity list and other export controls were an abuse meant to “unjustly suppress Chinese enterprises.” “It seriously violates international law and basic norms of international relations, severely damages the legitimate rights and interests of enterprises, and undermines the security and stability of global supply chains. China firmly opposes and strongly condemns this,” ministry spokesperson Guo Jiakun said at a routine news briefing Wednesday. The aim is to restrict China’s capacity to acquire and develop ultra fast, or “exascale” supercomputers, to develop hypersonic weapons and other sensitive technologies, the bureau said in a notice on its website. It also is intended to prevent South Africa’s Test Flying Academy from using U.S. goods to train Chinese troops, disrupt Iran’s access to unmanned aerial vehicles and other military items and hinder development of insecure nuclear and ballistic missile programs, it said. The companies on the list are subject to the “foreign direct product rule” of the BIS which allows it to control reexports and transfers of foreign-made products containing technology that the U.S. government deems vital for national security. The tightening of controls comes as the Trump administration prepares for another round of tariff hikes due next week, an escalation of the trade war that President Donald Trump launched during his first term in office. Trump has already raised tariffs on imports of Chinese goods to 20%. On Monday he said he would impose a 25% tariff on all imports from any country that buys oil or gas from Venezuela. China buys a large share of the oil exported by Venezuela. China has retaliated with its own countermeasures, including sweeping new duties on a variety of American goods and an anti-monopoly investigation into Google. It also has moved to tighten its own sanctions regime, meanwhile, with a law enabling it to freeze assets of companies subject to Chinese sanctions. (AP)

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