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With the massive growth in cryptocurrency adoption, the environmental impact of blockchain technology has become a pressing issue. Many popular blockchain networks, particularly those that use proof-of-work (PoW) mechanisms like Bitcoin, consume significant amounts of electricity, contributing to a large carbon footprint. Sustainable crypto wallet solutions have emerged as a response to this challenge, aiming to reduce the ecological impact of digital finance. Crypto wallets are essential tools for holding, sending, and receiving digital assets, so developing wallets with sustainability in mind can play a major role in reducing the crypto industry’s environmental impact. What Makes a Good Crypto Wallet The top wallet to store crypto is one that prioritizes user control and security, offering users full custody of their funds without relying on third-party access. Features like strong encryption, two-factor authentication, and multi-signature capabilities are essential to protect assets from unauthorized access. A non-custodial wallet, where only the user holds the keys, ensures that no external entity can freeze or limit access to funds, enhancing user autonomy and privacy. In addition to security, versatility is a key factor in a quality wallet. A good crypto wallet supports a wide range of cryptocurrencies across multiple blockchain networks, allowing users to manage diverse portfolios in one place. Furthermore, features such as easy-to-navigate interfaces, integrated access to decentralized finance (DeFi) applications, and compatibility with trusted third-party payment providers make the user experience smooth and accessible for both beginners and seasoned investors. Exploring Eco-Friendly Wallet Technologies Technological advancements are paving the way for more eco-friendly crypto wallets. Many wallet providers are moving away from energy-intensive PoW blockchains toward networks that use proof-of-stake (PoS) mechanisms. PoS networks, such as Ethereum 2.0, Cardano, and Solana, require far less energy than PoW systems. Ethereum’s recent transition to PoS significantly reduced its energy consumption and provided a model for other blockchain projects. Wallets that integrate with PoS networks, or with other low-energy protocols, are helping to make crypto transactions less energy-intensive and more sustainable. Additionally, some wallets are exploring partnerships with green energy providers to offset their environmental impact. Adopting Green Standards in Wallet Development To achieve a sustainable future for digital finance, wallet developers are increasingly adopting green standards in their applications which is the equivalent of construction using eco-friendly building materials. For instance, lightweight wallet applications are designed to use minimal processing power and require less data storage, reducing the energy consumption on the user’s device as well as on the network. By implementing streamlined code and efficient data practices, these wallets aim to minimize their carbon footprint without sacrificing user experience or security. Some wallet providers are also adding carbon tracking features, giving users visibility into the environmental impact of their transactions. Green standards like these are making crypto wallets more sustainable while maintaining essential functionality. Education and Awareness for Sustainable Wallet Use Educating users about the environmental impact of cryptocurrency transactions is an essential part of promoting sustainable crypto wallet use. Many users are unaware of the energy costs associated with certain types of blockchain transactions. Wallet providers have an opportunity to raise awareness by integrating educational resources into their platforms, helping users make environmentally conscious decisions. For example, some wallets are beginning to show carbon emissions data for each transaction, allowing users to see the impact of their actions. Transparency around transaction emissions enables users to adopt greener practices, such as using blockchains with lower environmental impact or reducing the frequency of their transactions. By embedding sustainability information directly into the wallet experience, providers can foster a more eco-conscious approach to crypto usage. Challenges in Developing Sustainable Wallet Solutions Despite advancements in green technology, creating sustainable crypto wallets remains a challenging endeavor. One significant obstacle is that the most widely used cryptocurrencies, like Bitcoin, still rely on energy-intensive PoW mechanisms . This means that wallets supporting these popular currencies face limitations in achieving full sustainability. Additionally, transitioning wallet infrastructure to eco-friendly standards can be resource-intensive, requiring continuous updates to ensure security and efficiency. Balancing energy efficiency with robust security features is another complex challenge for wallet providers. Moreover, the rapid pace of innovation in the blockchain space requires wallet developers to adapt constantly, making it difficult to maintain a consistent standard of sustainability. Addressing these challenges will require ongoing dedication, innovation, and collaboration across the industry. Carbon Offsetting Initiatives and Partnerships To address the environmental impact of crypto wallets, many providers are turning to carbon offset initiatives. Carbon offsets involve investing in environmental projects that reduce carbon emissions, such as reforestation or renewable energy initiatives, to balance out the emissions generated by wallet operations. Some wallet providers are implementing these programs to offset the carbon footprint of transactions processed through their platforms. By participating in carbon offsetting, wallet providers can take an active role in supporting sustainability initiatives. This approach not only helps reduce the ecological impact of digital finance but also raises awareness among users, encouraging them to consider their own environmental impact. Carbon offset programs provide a practical, accessible way for wallets to promote sustainability while still offering users access to a wide range of cryptocurrencies. Renewable Energy and Decentralised Wallets Another promising approach for sustainable crypto wallets is the use of renewable energy sources. Some wallets and blockchain networks are exploring ways to power their servers and data centers with renewable energy, such as wind, solar, and hydropower. This shift to green energy can significantly reduce the carbon footprint of wallets, particularly in high-transaction environments. Decentralized wallets, which operate through a distributed network rather than a central server, could benefit greatly from this approach. By adopting renewable energy at multiple nodes within their network, decentralized wallets could further reduce their environmental impact. As access to renewable energy grows, the adoption of these sustainable practices in the crypto wallet space will become even more feasible. Regulatory Support and Industry Standards Sustainability in crypto wallets is also gaining traction through regulatory support and the development of industry standards. Some governments and regulatory bodies are now introducing policies to encourage eco-friendly practices in the crypto industry. For example, certain regions are providing incentives like tax benefits or grants for companies that implement green practices, including crypto wallet providers. Clear regulatory guidelines for sustainability can help drive the industry towards greener practices. Moreover, industry standards that establish eco-friendly guidelines for wallet developers would create a unified approach, allowing the industry to work collectively toward reducing the environmental impact of cryptocurrency. With regulatory and industry support, sustainable crypto wallets could become a standard across the market. Consumer Demand for Sustainable Wallets Consumer interest in sustainability is growing, and the demand for eco-friendly crypto wallets is following this trend. Many users are increasingly aware of the ecological impact of their financial activities and want options that align with their values. Wallet providers that prioritize sustainability can attract environmentally conscious consumers by offering features like energy-efficient designs, carbon tracking, and renewable energy integrations. In response to this demand, some wallets are now marketing their green initiatives as a unique selling point. As users become more selective, wallets that can demonstrate a commitment to sustainability are likely to gain a competitive edge in the market. By meeting this consumer demand, wallet providers can support environmental goals while expanding their user base. The Role of Innovation in Sustainable Wallet Solutions Innovation is key to advancing sustainability within the crypto wallet industry. Emerging technologies, such as second-layer solutions, offer new possibilities for reducing the environmental impact of crypto transactions. Second-layer solutions , like the Lightning Network for Bitcoin, enable faster and more efficient transactions that consume less energy. This technology allows wallet providers to offer more sustainable options without compromising transaction speed or reliability. Additionally, research into green blockchain protocols and further improvements in PoS networks are likely to provide even more eco-friendly solutions for wallet developers. As the technology continues to evolve, innovation will remain central to creating truly sustainable crypto wallets. The Future of Sustainable Crypto Wallets The future of sustainable crypto wallets appears promising as developers, regulators, and users work together toward a greener crypto ecosystem. Technological innovations, such as energy-efficient blockchains, renewable energy adoption, and carbon offset programs, will continue to play a critical role in shaping the industry’s path to sustainability. Furthermore, collaboration between wallet providers, blockchain networks, and environmental organizations can strengthen the impact of these green initiatives, leading to more comprehensive eco-friendly solutions in the crypto space. As sustainability becomes a priority, wallets that integrate green practices without sacrificing security or performance will set a new standard for the industry. By adopting these sustainable practices, crypto wallets can contribute to global environmental efforts and help ensure a responsible future for digital finance. Conclusion Sustainability is an essential consideration for the future of cryptocurrency, and crypto wallets play a vital role in this journey. From adopting energy-efficient blockchain networks to investing in renewable energy and carbon offset programs, wallet providers have multiple avenues to reduce their environmental impact. As technology advances and consumer demand for eco-friendly solutions grows, crypto wallets that embrace sustainable practices will not only align with user values but also support a healthier planet. While challenges remain, ongoing innovation, regulatory support, and awareness-building can guide the crypto wallet industry toward a more sustainable future. By prioritizing sustainability, crypto wallets can help shape a greener, more responsible cryptocurrency ecosystem, benefiting both users and the global environment.WASHINGTON (AP) — Matt Gaetz withdrew Thursday as President-elect Donald Trump’s pick for attorney general amid continued fallout over a federal sex trafficking investigation that cast doubt on his ability to be confirmed as the nation's chief federal law enforcement officer. The announcement caps a turbulent eight-day period in which Trump sought to capitalize on his decisive election win to force Senate Republicans to accept provocative selections like Gaetz, who had been investigated by the Justice Department before being tapped last week to lead it. The decision could heighten scrutiny on other controversial Trump nominees, including Pentagon pick Pete Hegseth , who faces sexual assault allegations that he denies. “While the momentum was strong, it is clear that my confirmation was unfairly becoming a distraction to the critical work of the Trump/Vance Transition,” Gaetz, a Florida Republican who one day earlier met with senators in an effort to win their support, said in a statement. “There is no time to waste on a needlessly protracted Washington scuffle, thus I’ll be withdrawing my name from consideration to serve as Attorney General. Trump’s DOJ must be in place and ready on Day 1," he added. Trump, in a social media post, said: “I greatly appreciate the recent efforts of Matt Gaetz in seeking approval to be Attorney General. He was doing very well but, at the same time, did not want to be a distraction for the Administration, for which he has much respect. Matt has a wonderful future, and I look forward to watching all of the great things he will do!” He did not immediately announce a new selection. Last week, he named personal lawyers Todd Blanche, Emil Bove and D. John Sauer to senior roles in the department. Another possible contender, Matt Whitaker, was announced Wednesday as the U.S. ambassador to NATO. The withdrawal, just a week after the pick was announced, averts what was shaping up to be a pitched confirmation fight that would have tested how far Senate Republicans were willing to go to support Trump’s Cabinet picks. The selection of the fierce Trump ally over well-regarded veteran lawyers whose names had circulated as possible contenders stirred concern for the Justice Department's independence at a time when Trump has openly threatened to seek retribution against political adversaries. It underscored the premium Trump places on personal loyalty and reflected the president-elect's desire to have a disruptor lead a Justice Department that for years investigated and ultimately indicted him. In the Senate, deeply skeptical lawmakers sought more information about Justice Department and congressional investigations into sex trafficking allegations involving underage girls, which Gaetz has denied. Meanwhile, Justice Department lawyers were taken aback by the pick of a partisan lawmaker with limited legal experience who has echoed Trump's claims of a weaponized criminal justice system. As Gaetz sought to lock down Senate support, concern over the sex trafficking allegations showed no signs of abating. In recent days, an attorney for two women said his clients told House Ethics Committee investigators that Gaetz paid them for sex on multiple occasions beginning in 2017, when Gaetz was a Florida congressman. One of the women testified she saw Gaetz having sex with a 17-year-old at a party in Florida in 2017, according to the attorney, Joel Leppard. Leppard has said that his client testified she didn’t think Gaetz knew the girl was underage, stopped their relationship when he found out and did not resume it until after she turned 18. The age of consent in Florida is 18. "They’re grateful for the opportunity to move forward with their lives,” Leppard said Thursday of his clients. “They’re hoping that this brings final closure for all the parties involved.” Gaetz has vehemently denied any wrongdoing. The Justice Department’s investigation ended last year with no charges against him. Gaetz’s political future is uncertain. He had abruptly resigned his congressional seat upon being selected as attorney general, a move seen as a way to shut down the ethics investigation into sexual misconduct allegations. He did win reelection in November for the new Congress, which convenes Jan. 3, 2025, but he said in his resignation letter last week to House Speaker Mike Johnson that he did not intend to take the oath of office. He transmitted a similar letter to Florida Gov. Ron DeSantis as the state launched a special election process to fill the vacancy. Republicans on the House Ethics Committee declined this week to release the panel's findings, over objections from Democrats in a split vote. But the committee did agree to finish its work and is scheduled to meet again Dec. 5 to discuss the matter. As word of Gaetz's decision spread across the Capitol, Republican senators seemed divided. Oklahoma Sen. Markwayne Mullin, who served with Gaetz in the House, called it a “positive move." Maine Sen. Susan Collins said Gaetz “put country first and I am pleased with his decision.” Others said they had hoped Gaetz could have overhauled the department. Florida Sen. Rick Scott, a close ally of Trump, said he was “disappointed. I like Matt and I think he would have changed the way DOJ is run.” Kentucky Sen. Rand Paul said he hoped that Trump will pick someone “equally as tenacious and equally as committed to rooting out and eliminating bias and politicization at the DOJ.” Gaetz is not the only Trump pick facing congressional scrutiny over past allegations. A detailed investigative police report made public Wednesday shows that a woman told police that she was sexually assaulted in 2017 by Hegseth, the former Fox News host now tapped to lead the Pentagon, after he took her phone, blocked the door to a California hotel room and refused to let her leave. “The matter was fully investigated and I was completely cleared,” Hegseth told reporters Thursday at the Capitol, where he was meeting with senators to build support for his nomination. Associated Press writers Michelle L. Price, Lisa Mascaro, Mary Clare Jalonick and Adriana Gomez Licon contributed to this report. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Stay up-to-date on the latest in local and national government and political topics with our newsletter.
BEIRUT — Insurgents’ stunning march across Syria accelerated Saturday with news that they had reached the suburbs of the capital and that government forces had withdrawn from the central city of Homs. The government was forced to deny rumors that President Bashar Assad had fled the country. The loss of Homs is a potentially crippling blow for Assad. It stands at an important intersection between Damascus and Syria’s coastal provinces of Latakia and Tartus — the Syrian leader’s base of support and home to a Russian strategic naval base. The pro-government Sham FM reported that government forces took positions outside Syria’s third-largest city, without elaborating. Rami Abdurrahman who heads the Britain-based Syrian Observatory for Human Rights, said Syrian troops and members of different security agencies have withdrawn from the city, adding that rebels have entered parts of it. The capture of Homs is a major victory for insurgents, who have already seized the cities of Aleppo and Hama, as well as large parts of the south, in a lightning offensive that began Nov. 27. Analysts said Homs falling into rebel hands would be a game-changer. The rebels’ moves around Damascus, reported by the monitor and a rebel commander, came after the Syrian army withdrew from much of southern part of the country, leaving more areas, including several provincial capitals, under the control of opposition fighters. The advances in the past week were among the largest in recent years by opposition factions, led by a group that has its origins in al-Qaida and is considered a terrorist organization by the U.S. and the United Nations. In their push to overthrow Assad’s government, the insurgents, led by the Hayat Tahrir al-Sham group, or HTS, have met little resistance from the Syrian army. For the first time in the country’s long-running civil war, the government now has control of only three of 14 provincial capitals: Damascus, Latakia and Tartus. The U.N.’s special envoy for Syria, Geir Pedersen, on Saturday called for urgent talks in Geneva to ensure an “orderly political transition.” Speaking to reporters at the annual Doha Forum in Qatar, he said the situation in Syria was changing by the minute. Russian Foreign Minister Sergey Lavrov, whose country is Assad’s chief international backer, said he feels “sorry for the Syrian people.” In Damascus, people rushed to stock up on supplies. Thousands went to Syria’s border with Lebanon, trying to leave the country. Many shops in the capital were shuttered, a resident told The Associated Press, and those still open ran out of staples such as sugar. Some were selling items at three times the normal price. “The situation is very strange. We are not used to that,” the resident said, insisting on anonymity, fearing retributions. “People are worried whether there will be a battle (in Damascus) or not.” It was the first time that opposition forces reached the outskirts of Damascus since 2018, when Syrian troops recaptured the area following a yearslong siege. The U.N. said it was moving noncritical staff outside the country as a precaution. Assad’s status Syria’s state media denied social media rumors that Assad left the country, saying he is performing his duties in Damascus. He has had little, if any, help from his allies. Russia, is busy with its war in Ukraine. Lebanon’s Hezbollah, which at one point sent thousands of fighters to shore up Assad’s forces, has been weakened by a yearlong conflict with Israel. Iran has seen its proxies across the region degraded by regular Israeli airstrikes. U.S. President-elect Donald Trump on Saturday posted on social media that that the United States should avoid engaging militarily in Syria. Pedersen said a date for talks in Geneva on the implementation a U.N. resolution, adopted in 2015, and calling for a Syrian-led political process, would be announced later. The resolution calls for the establishment of a transitional governing body, followed by the drafting of a new constitution and ending with U.N.-supervised elections. Later Saturday, foreign ministers and senior diplomats from eight key countries, including Saudi Arabia, Russia, Egypt, Turkey and Iran, along with Pederson, gathered on the sidelines of the Doha Summit to discuss the situation in Syria. No details were immediately available. The insurgents’ march Rami Abdurrahman, who heads the Britain-based Syrian Observatory for Human Rights, an opposition war monitor, said insurgents were in the Damascus suburbs of Maadamiyah, Jaramana and Daraya. Opposition fighters were marching toward the Damascus suburb of Harasta, he added. A commander with the insurgents, Hassan Abdul-Ghani, posted on the Telegram messaging app that opposition forces had begun the “final stage” of their offensive by encircling Damascus. HTS controls much of northwest Syria and in 2017 set up a “salvation government” to run day-to-day affairs in the region. In recent years, HTS leader Abu Mohammed al-Golani has sought to remake the group’s image, cutting ties with al-Qaida, ditching hard-line officials and vowing to embrace pluralism and religious tolerance. The shock offensive began Nov. 27, during which gunmen captured the northern city of Aleppo, Syria’s largest, and the central city of Hama, the country’s fourth largest city. Opposition activists said Saturday that a day earlier, insurgents entered Palmyra, which is home to invaluable archaeological sites had been in government hands since being taken from the Islamic State group in 2017. To the south, Syrian troops left much of the province of Quneitra including the main Baath City, activists said. Syrian Observatory said government troops have withdrawn from much of the two southern provinces. The Syrian army said in a statement that it carried out redeployment and repositioning in Sweida and Daraa after its checkpoints came under attack by “terrorists." The army said it was setting up a “strong and coherent defensive and security belt in the area,” apparently to defend Damascus from the south. The Syrian government has referred to opposition gunmen as terrorists since conflict broke out in March 2011. Diplomacy in Doha The foreign ministers of Iran, Russia and Turkey, meeting in Qatar, called for an end to the hostilities. Turkey is a main backer of the rebels. Qatar’s top diplomat, Sheikh Mohammed bin Abdulrahman Al Thani, criticized Assad for failing to take advantage of the lull in fighting in recent years to address the country’s underlying problems. “Assad didn’t seize this opportunity to start engaging and restoring his relationship with his people,” he said. Sheikh Mohammed said he was surprised by how quickly the rebels have advanced and said there is a real threat to Syria’s “territorial integrity.” He said the war could “damage and destroy what is left if there is no sense of urgency” to start a political process. Karam reported from London. Associated Press writers Albert Aji in Damascus, Syria and Qassim Abdul-Zahra in Baghdad contributed to this report. Updated at 3:12 p.m.Trump says he’ll eliminate ‘wokeness’ from education
LA County Board of Supervisors wants a new department for homeless services
Key details to know about the arrest of a suspect in the killing of UnitedHealthcare's CEOGaetz withdraws as Trump's pick for attorney general, averting confirmation battle in the Senate
Police arrested a 26-year-old man on Monday in the Manhattan killing of UnitedHealthcare’s CEO after they say a Pennsylvania McDonald's worker alerted authorities to a customer who resembled the suspected gunman. The suspect, identified by police as Luigi Nicholas Mangione, had a gun believed to be the one used in Wednesday’s attack on Brian Thompson , as well as writings expressing anger at corporate America, police said. Here are some of the latest developments in the ongoing investigation: Mangione was taken into custody at around 9:15 a.m. after police received a tip that he was eating at a McDonald’s in Altoona, Pennsylvania, about 85 miles (137 kilometers) east of Pittsburgh, police said. Mangione was being held in Pennsylvania on gun charges and will eventually be extradited to New York to face charges in connection with Thompson’s death, said NYPD Chief of Detectives Joseph Kenny. In addition to a three-page, handwritten document that suggests he harbored “ill will toward corporate America,” Kenny said Mangione also had a ghost gun , a type of weapon that can be assembled at home and is difficult to trace. Officers questioned Mangione, who was acting suspiciously and carrying multiple fraudulent IDs, as well as a U.S. passport, New York Police Commissioner Jessica Tisch said at a news conference. Officers also found a suppressor, “consistent with the weapon used in the murder,” the commissioner said. He had clothing and a mask similar to those worn by the shooter and a fraudulent New Jersey ID matching one the suspect used to check into a New York City hostel before the shooting, Tisch said. Kenny said Mangione was born and raised in Maryland, has ties to San Francisco and that his last known address is in Honolulu, Hawaii. Mangione, who was valedictorian of his Maryland prep school, earned undergraduate and graduate degrees in computer science in 2020 from the University of Pennsylvania, a university spokesman told The Associated Press on Monday. He learned to code in high school and helped start a club at Penn for people interested in gaming and game design, according to a 2018 story in Penn Today, a campus publication. His social media posts also suggest that he belonged to the fraternity Phi Kappa Psi. They also show him taking part in a 2019 program at Stanford University, and in photos with family and friends at the Jersey Shore and in Hawaii, San Diego, Puerto Rico, and other destinations. The Gilman School, from which Mangione graduated in 2016, is one of Baltimore’s elite prep schools. Some of the city’s wealthiest and most prominent people, including Orioles legend Cal Ripken Jr., have had children attend the school. Its alumni include sportswriter Frank Deford and former Arizona Gov. Fife Symington. In his valedictory speech, Luigi Mangione described his classmates’ “incredible courage to explore the unknown and try new things,” according to a post on the school website. He praised their collective inventiveness and pioneering mindset. Mangione comes from a prominent Maryland family. His grandfather Nick Mangione, who died in 2008, was a successful real estate developer. One of his best-known projects was Turf Valley Resort, a sprawling luxury retreat and conference center outside Baltimore that he purchased in 1978. The father of 10 children, Nick Mangione prepared his five sons — including Luigi Mangione’s father, Louis Mangione — to help manage the family business, according to a 2003 Washington Post report. The Mangione family also purchased Hayfields Country Club north of Baltimore in 1986. On Monday, Baltimore County police officers blocked off an entrance to the property, which public records link to Luigi Mangione’s parents. A swarm of reporters and photographers gathered outside the entrance. Luigi Mangione is one of 37 grandchildren of Nick Mangione, according to his obituary. Luigi Mangione's grandparents donated to charities through the Mangione Family Foundation, according to a statement from Loyola University commemorating Nick Mangione’s wife’s death in 2023. They donated to various causes ranging from Catholic organizations to colleges and the arts. One of Luigi Mangione’s cousins is Republican Maryland state legislator Nino Mangione. A spokesman for the lawmaker's office confirmed the relationship Monday. Police said the person who killed Thompson left a hostel on Manhattan's Upper West Side at 5:41 a.m. on Wednesday. Just 11 minutes later, he was seen on surveillance video walking back and forth in front of the New York Hilton Midtown, wearing a distinctive backpack. At 6:44 a.m., he shot Thompson at a side entrance to the hotel, fled on foot, then climbed aboard a bicycle and within four minutes had entered Central Park. Another security camera recorded the gunman leaving the park near the American Museum of Natural History at 6:56 a.m. still on the bicycle but without the backpack. After getting in a taxi, he headed north to a bus terminal near the George Washington Bridge, arriving at around 7:30 a.m. From there, the trail of video evidence runs cold. Police have not located video of the suspected shooter exiting the building, leading them to believe he likely took a bus out of town. Police said they are still investigating the path the suspect took to Pennsylvania. “This just happened this morning," Kenny said. "We’ll be working, backtracking his steps from New York to Altoona, Pennsylvania,” Kenny said. Associated Press reporters Lea Skene in Baltimore and Cedar Attanasio in New York contributed to this report. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. Get the latest local business news delivered FREE to your inbox weekly.(The Center Square) – The latest federal numbers show the U.S. deficit is soaring as President Joe Biden heads out of office. The U.S. Congressional Budget Office released its monthly budget review on Monday, which showed that in the first two months of this fiscal year, the federal government has run up a deficit of $622 billion. “That amount is $242 billion more than the deficit recorded during the same period last fiscal year,” CBO said in its report . That figure means the deficit is nearly 40% higher than this time last year. “The most alarming turkey in November was the federal government’s inability to live within its means,” Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said in a statement. “We are only two months into the fiscal year, and we have already borrowed a staggering $622 billion, with $365 billion in the month of November alone." Deficits never surpassed one trillion dollars before the COVID-19 pandemic. Since then, they remain well above one trillion and for this next fiscal year are well beyond the pace to surpass $1 trillion. The deficit last fiscal year was about $1.8 trillion. Billionaire Elon Musk, now an advisor to President-elect Donald Trump, lamented the debt, which is about $36 trillion, on X Monday. “If we don’t fix the deficit, everything will suffer, including essential spending like DoD, Medicare & Social Security,” Musk said. “It’s not optional.” CBO did explain that some of the increase is from accounting changes. From CBO: The change in the deficit was influenced by the timing of outlays and revenues alike. Outlays in October 2023 were reduced by shifts in the timing of certain federal payments that otherwise would have been due on October 1, 2023, which fell on a Sunday. (Those payments were made in September 2023.) Outlays in November 2024 were boosted by the shift to that month of payments due December 1, 2024, a Saturday. If not for those shifts, the deficit thus far in fiscal year 2025 would have been $541 billion, or $88 billion more than the shortfall at this point last year, and outlays would have been $38 billion more.”Column: Brady Corbet’s epic movie ‘The Brutalist’ came close to crashing down more than once