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Amanda Head: Debt Deal Is A Disaster!

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Capitol Hill is in a frenzy over the latest debt deal reached between lawmakers.

Watch Amanda explain the situation below:

Opinions expressed by contributors do not necessarily reflect the views of Great America News Desk.

Andrew Cuomo to Launch New Podcast with First Guest Anthony Scaramucci

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Photos from the opening of the new Delta Air Lines terminal in LaGuardia Airport in Queens, NY, on Tuesday, Oct. 29, 2019. (Chris Rank for Rank Studios) (Photos from the opening of the new Delta Air Lines terminal in LaGuardia Airport in Queens, NY, o

Look at how far Andrew Cuomo has sunk.

After resigning as New York Governor due to allegations of sexual misconduct Cuomo announced he plans to start a new business venture. Cuomo’s newest foray into the public sphere comes in the shape of a podcast and one of his first guests is scheduled to be President Donald Trump’s former communications director Anthony Scaramucci.

Scaramucci, who briefly served the Trump administration in 2017, has emerged as a critic of Trump and expressed his support for Biden in the 2020 election.

According to The Hill:

Cuomo will this week debut a new hourlong show he is calling “As a Matter of Fact” on podcast streaming service Quake, he told Axios, and the show will aim to “hear from people — their questions, their issues — and have that dialogue.”

The former governor told Axios this week he has “learned from the entire situation.”

“There’s a fundamental problem with the entire system here,” Cuomo told the outlet of the media ecosystem writ large. “We have such division of people and we have such dysfunction of government, and part of it is this hyper-partisan, extreme dialogue that goes on.”

“There is a new sensitivity that I didn’t fully appreciate that some people have, and some people have a new sense of cultural boundaries that I didn’t appreciate enough,” Cuomo said.

It seems the disgraced governor is following in his brother’s footsteps. Chris Cuomo, who was a leading anchor at CNN during the Cuomo sex scandal, also started a new podcast after being fired from the network.

Report: Trump Set To Become One Of World’s Most Wealthy People

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Former President Donald Trump will become one of the 500 richest people in the world after his media company begins public trading on Tuesday, according to a report by Bloomberg News.

The Daily Caller has more:

Trump, the presumptive Republican presidential nominee, established the Trump Media & Technology Group (TMTG) in February of 2021 to develop an alternative social media website, following his removal from Twitter after the events of Jan. 6, 2021, with the new website “Truth Social” being unveiled in 2022. On Monday, TMTG completed a merging process with DWAC, a special-purpose acquisition corporation, that would allow the company to be publicly traded on the National Association of Securities Dealers Automated Quotations stock exchange, also known as the “Nasdaq” exchange, with Trump’s 58% stake in the company being valued at $3.9 billion, according to Bloomberg News. 

The share price of DWAC increased by 35.22% to close at $49.95 on Monday when the closing of the deal was announced, with the new company retaining the TMTG name and changing its stock ticker to Trump’s initials, “DJT.” The process will increase Trump’s net worth to $6.4 billion, according to Bloomberg.

Trump’s net worth, which until recently has primarily comprised real property of The Trump Organization, has been subject to varying estimates. The Australian Financial Review estimated his net worth to be $9.8 billion following the TMTG acquisition process, while Forbes maintains his net worth at $2.6 billion as of Monday — making him the 1,265th richest person in the world — with its highest-ever estimate for his net worth being $4.5 billion in 2016.

Truth Social has reported many losses since its creation, with Trump being the primary user of the platform with the largest number of followers. He often announces major legal and campaign decisions on the platform, similar to his use of Twitter during his presidency.

Trump will not be able to sell his stake in TMTG for at least six months following the commencement of trading

Trump Launches New Streaming Platform

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Donald Trump via Gage Skidmore Flickr

Presumptive Republican presidential nominee Donald Trump’s media company announced the launch of a new video streaming platform this week.

The Daily Caller reported that Trump Media & Technology Group (TMTG), the parent company of social media platform Truth Social, went public after shareholders approved a merger with Digital World of Acquisition Corporation (DWAC) in March. Trump’s media company detailed its plans to roll out its “new live TV streaming platform” in an email announcement.

“Trump Media & Technology Group Corp. (NASDAQ:DJT) (‘TMTG’ or the ‘Company’), operator of the social media platform Truth Social, announced today that after six months of testing on its Web and iOS platforms, the Company has finished the research and development phase of its new live TV streaming platform and will begin scaling up its own content delivery network (‘CDN’),” the announcement reads.

The Daily Caller has more:

Trump’s streaming platform will be introduced in three phases, the announcement states. First, it will appear on the Truth Social app. Next, the streaming app will become available separately for download on phones, tablets and additional devices. Phase three of its rollout will encompass Trump’s streaming platform becoming available for download as an app on TVs.

Trump’s streaming service will host content “that has been cancelled, is at risk of cancellation, or is being suppressed on other platforms and services,” the announcement reads. Genres of content include “news networks, religious channels, [and] family-friendly content including films and documentaries.”

MyPillow CEO Mike Lindell Sued For $800,000

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Mike Lindell via Gage Skidmore Flickr

Ouch…

Shipping and logistics company DHL sued Mike Lindell’s MyPillow this week over an alleged shipping debt of nearly $800,000.

In the lawsuit filed in Minneapolis on Monday, DHL alleged Lindell’s company violated a previous lawsuit settlement from May 2023 which required MyPillow to pay off its $775,000 debt to DHL in 24 monthly installments.

According to the lawsuit, MyPillow only partially paid off the required installments, paying DHL $64,583.34, with the last installment in June.

DHL reportedly threatened to sue MyPillow in July and, after several months of no success, finally filed its lawsuit in court this week.

DHL is now seeking $799,925.59 from MyPillow, along with attorney fees and an 18% annual interest.

Gavel via Wikimedia Commons Image

Lindell who has been a vocal and active supporter of former President Donald Trump has been embroiled in a number of lawsuits over the past few years, including defamation lawsuits from Dominion Voting Systems and Smartmatic over his allegations that the 2020 election was rigged.

In February, Lindell was ordered to pay $5 million to a man after he lost his own “Prove Mike Wrong” challenge.

In March, MyPillow was evicted from a warehouse in Minnesota for allegedly being $200,000 behind on rent.

Trump To Nominate New Commerce Secretary

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Donald Trump via Gage Skidmore Flickr

On Tuesday, President-elect Donald Trump is expected to announce his nomination for Secretary of Commerce: Howard Lutnick.

Lutnick is the chair and CEO of Cantor Fitzgerald and is also currently serving as co-chair of the Trump transition. He has notably publicly embraced Trump’s tariff plans, which will be a major part of the job leading Commerce.

The CEO was considered a front-runner to serve as Trump’s Treasury secretary along with Scott Bessent, who served as economic adviser on the Trump campaign.

Trump just released a statement:

I am thrilled to announce that Howard Lutnick, Chairman & CEO of Cantor Fitzgerald, will join my Administration as the United States Secretary of Commerce. He will lead our Tariff and Trade agenda, with additional direct responsibility for the Office of the United States Trade Representative.

In his role as Co-Chair of the Trump-Vance Transition Team, Howard has created the most sophisticated process and system to assist us in creating the greatest Administration America has ever seen.

Lutnick beat out Linda McMahon for the role leading Commerce who was considered a front runner and previously led the Small Business Administration during Trump’s first term.

McMahon is also a co-chair of his transition effort.

This is a breaking news story. Click refresh for the latest updates.

Trump’s Truth Social Merger Deal Hits A Pause

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Photo via Gage Skidmore Flickr

It’s a bad time to be Trump…

New reports indicate the potential merger deal with the former President’s Truth Social platform is dead in the water.

The Daily Beast reports:

The public shell corporation that has been preparing to merge with former President Donald Trump’s technology firm—the parent company of his social media platform, Truth Social—announced Thursday that it was dropping its plans to pursue the merger through a specialized process called a ​​private investment in public equity (PIPE) transaction. The company also said it planned to return $533 million it had raised from investors to complete the deal. The merger between Digital World Acquisition Corp. (DWAC), a special purpose acquisition company, and Trump Media & Technology Group failed to materialize by a September 2022 deadline set by U.S. regulators, giving DWAC the option to back out of the deal. A TMTG spokesperson claimed in a release Thursday that the two companies still planned to merge and said the development was, in fact, a positive step—but declined to comment when pressed by Reuters to say how backing out of the PIPE deal would benefit either party.

This is a breaking news story. Click refresh for the latest updates.

Report: United CEO Pitches Merger to Trump That Would Create World’s Largest Airline

Image via Pixabay

United Airlines CEO Scott Kirby is reportedly floating a blockbuster idea inside the Trump orbit: a potential merger with American Airlines that would create the largest airline in the world — and instantly reshape the U.S. aviation industry.

According to reports, Kirby raised the possibility toward the end of a White House meeting focused on the future of Washington Dulles International Airport. The timing is notable. Transportation Secretary Sean Duffy has already launched an initiative to “revitalize” Dulles, signaling a broader push to strengthen major U.S. travel hubs and compete globally.

And the stakes are massive. Data from the Metropolitan Washington Airports Authority shows that a dominant 68.5 percent of commercial passengers at Dulles in December flew United — underscoring just how much influence one airline already holds at a key East Coast gateway.

Now imagine that power combined.

In 2023, United and American ranked first and third, respectively, in revenue by passenger miles among U.S.-based airlines, according to the Bureau of Transportation Statistics. A merger between the two wouldn’t just be big — it would create an aviation giant unlike anything seen before, potentially giving the U.S. a dominant global carrier at a time of rising international competition.

Kirby, who knows both companies well, previously served as president of American Airlines after its 2013 merger with U.S. Airways before joining United in 2016 — adding another layer of intrigue to the reported pitch.

Not surprisingly, the reaction from Washington’s political class — especially on the left — was immediate and hostile.

Sen. Ruben Gallego (D-Ariz.) fired off a blunt response on X, writing, “That’s gonna be a no.”

Matt Stoller, a researcher at the anti-monopolist American Economic Liberties Project, went even further, calling the idea “corporate crime” that is “now legal.”

But behind the outrage is a deeper policy divide. Under Trump appointee Andrew Ferguson, the Federal Trade Commission has taken a more business-friendly approach than it did under former Chair Lina Khan, whose aggressive antitrust stance often targeted large corporate mergers. For many conservatives, that shift reflects a broader belief that American companies need scale to compete with state-backed foreign rivals — particularly in industries like aviation.

Still, even some legal experts say the proposal would face an uphill battle.

Antitrust lawyer Seth Bloom told Reuters the deal would be unlikely to survive regulatory scrutiny, warning that it could hit consumers where it hurts most: prices.

“The administration has said it really cares about the issues that affect the consumer’s pocketbook, and this would give the airlines more pricing power,” Bloom said.

That tension — between building a stronger, more competitive American airline industry and protecting consumers from higher costs — is likely to define the debate if this idea gains traction.

For now, Kirby’s reported pitch remains just that — a pitch.

Trump Media Investor Convicted Of Insider Trading

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Arrest image via Pixabay

On Thursday, a Manhattan grand jury found financier Bruce Garelick guilty of insider trading charges in a scheme that involved the merger of former President Donald J. Trump’s social media company with a publicly traded shell company.

Federal prosecutors had charged Garelick with five counts of securities fraud and conspiracy. 

Authorities claimed Garelick shared confidential information with his boss and at least one other person that Trump Media & Technology Group, the parent company of Truth Social, was close to announcing a merger with Digital World Acquisition Group, the shell company.

Mr. Garelick, 54, a former hedge fund manager, had been a board member of Digital World. 

The New York Times has more:

The information helped two brothers — Michael Shvartsman and Gerald Shvartsman — make nearly $23 million in illegal trading profits by buying Digital World securities in advance of the announcement, which sent the stock soaring. Mr. Garelick, who worked for Michael Shvartsman at a small Miami-based venture capital firm called Rocket One, made about $50,000 by trading off what authorities said was nonpublic information.

Last month, the Shvartsman brothers decided to forgo a trial and pleaded guilty to securities fraud charges. In their plea agreements, prosecutors have recommended a sentence of roughly four to five years for Michael Shvartsman; and three to four years for his younger brother.

Digital World raised about $300 million from investors in its initial public offering in September 2021. A little over a month later, the SPAC announced a deal to merge with Trump Media. After a long delay, the merger was completed in March and Trump Media became a publicly traded company. Mr. Trump’s nearly 70 percent stake in the firm is worth about $6 billion.

In a closing argument, Daniel Nessim, a federal prosecutor, described Mr. Garelick as a “sophisticated professional” who “cheated” and used inside information to benefit himself and his boss, Michael Shvartsman.

Garelick could face at least 25 years in prison.

This is a breaking news story. Please check back for updates.

Airbnb Co-Founder Opens Up About Leaving Democrat Party to Support Trump

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President Donald Trump participates in a welcome ceremony with Saudi Crown Prince Mohammed Bin Salman Al Saud at the Royal Court Palace in Riyadh, Saudi Arabia, Tuesday, May 13, 2025. (Official White House Photo by Daniel Torok)

Earlier this week, Airbnb co-founder Joe Gebbia opened up about why he decided to leave the Democrat Party to support President Donald Trump.

During an interview with former White House official Katie Miller – the wife of White House Deputy Chief of Staff Stephen Miller – Gebbia revealed how he became drawn to the Republican Party through Secretary of Health Robert F. Kennedy Jr. and the crisis at the southern border.

“At what point did you know in the last election that you were like, ‘I wanna help President Trump’? Was it Bobby Kennedy and your love for MAHA? Like, what was it?” asked Miller on The Katie Miller Podcast.

Gebbia responded, “I’ve been on my journey. Everyone’s been on a journey, and I think through, you know, certainly Bobby Kennedy and supporting him, and I’ve been so grateful for the work that he’s doing, to be somebody who just cares so much about the health of our nation, and you know, has no ties to industry and is really just able to bust through walls and sort of, like, right size the ship.”

The Airbnb co-founder revealed that he “grew up in an alternative medicine, health food household,” which made him gravitate towards Kennedy when he ran for president on a “Make America Healthy Again” platform.

Watch:

However, Gebbia told Miller it was the crisis at the southern border that ultimately made him lose faith in the Democratic Party and become a Republican.

“I think it was early 2021, mid-2021, the activity at the border caught my attention, and I just remember thinking, ‘What’s going on with this topic? It seems as if there’s no border,’” he said. “And as it got worse that year, I felt like I needed to understand this problem more, so I reached out to my friends, largely on the Democratic side of the house, at all levels, from the highest level all the way down.”

Gebbia said that while he received “some answers” from friends in the Democratic Party, he ultimately “felt unfulfilled,” and so decided to talk to former Trump senior adviser Jared Kushner about the issue:

I get on the phone with Jared and say, “Hey, can you help me? Fill in the gaps for me. Like, what am I missing here? Is this normal? Like, seems there’s no enforcement of our own border. Like, don’t nations need borders to be a nation?” And so he put me on this curriculum of just talking to experts in the field, and I remember just being like holy cow, this is crazy. Like, this is not right. This is a real problem and there’s no reason why we shouldn’t be enforcing the laws of our country and our border. And so I think, as I started to pull on that thread, I sort of, you know, begin to look at other topics and eventually came to the point where I don’t think I can support a political party that wants to have an open border, that lets in criminals and dangerous people into our country. That’s just not something I can get behind.