
New poll reveals full extent of Trump's gains with minority voters in 2024
The Pew Research Center poll, which the organization calls "a study of the 2024 election, based on validated voters," said that Trump made up extensive ground with Hispanic voters, Black voters and Asian voters.
It found that Trump significantly closed the gap on Hispanic voters, with 51% of them going to former Vice President Kamala Harris, and 48% going to Trump, a significant shift from the 2020 presidential election, when Trump fell behind with Hispanic voters to former President Joe Biden, 61%-36%.
Trump increased his support among Black voters by 7%, with 15% of Black voters supporting Trump in November, up from 8% during the 2020 presidential election.
Asian voters, while still trending to the left with 57% supporting Harris, voted 40% for Trump, up from 2020, when 70% supported Biden and 30% went for Trump.
The voters' level of education also played a role.
Trump had a 14-point advantage, 56% to 42%, among voters who did not have a 4-year college degree, with the Pew Research Center reporting that Trump doubled his 2016 margin among these voters.
Harris won college-education voters by a margin of 57% to 41%.
Voters who lived in rural areas also chose Trump overwhelmingly, 69%-29%, while 65% of urban voters chose Harris, and only 33% chose Trump.
Trump also did well among religious voters, with almost two-thirds, or 64% of them who attended religious services monthly or more backing Trump, and only about a third, or 34%, voting for Harris.
The 45th and 47th president also gained some ground with men, with 55% - 43% voting for him. Men under 50-years-old chose Trump 49% - 48%. In 2020, they chose Biden by 10 points, with 53% going for Biden, and 43% going for Trump.
"President Trump's historic reelection and the overall MAGA movement is a big tent welcome for all and home to a large swath of the American people," Harrison Fields, special assistant to the president and principal deputy press secretary, said in a statement to Fox News Digital.
"The President continues to foster a national pride that should be celebrated daily, and he is honored to serve all Americans," Fields added. "The American people voted for a return to common sense, and the President is delivering on every campaign promise supported by 77 million voters and is ushering in our Golden Age."
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Monetary Innovation And The Blockchain Can Solve Our Debt Crisis
You actually had to have this stuff in reserve to be a "national bank" in the United States. A ... More one-hundred dollar Civil War government bond is dated August 19, 1861. What is our debt crisis again? The federal government has $38 trillion in its own debt securities outstanding. Is that it, is that the crisis? Yes and no. It is not necessarily a crisis that the federal government has to pay back this very large amount of money. Given that the government generally does not do great things with its money, tying its spending priorities to debt service is probably a positive. Now if Congress tries to raise taxes in a panic to try to address paying the debt off, indeed this would be a disaster. Good: the debt makes the government spend its money on debt service; bad: the debt might prompt the feds to raise taxes. So we really haven't gotten anywhere about identifying what this debt crisis is. 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Are we to believe that across these centuries now of the industrial and technological revolutions, after all the incredible modern progress of the economy since 1750, the private sector has not created of its own accord a means of pricing financial securities such that it needs government bonds as a point of reference? Talk about market failure. The private sector would be at sea unless treasuries existed to rationalize the pricing of financial assets? Obviously such a conclusion is ridiculous. Of course the private sector can price assets correctly of its own accord, and if riskless securities are necessary for this purpose, the private sector can produce them. But the private sector is not producing them—because the government is camping on the market. Here is the problem with the huge debt: its mammoth-ness has prevented the flowering of the private securities market. The industrial revolution proved that the private sector can produce an unimaginable range of products. If people want stuff, producers will find a way. This is one of the advantages of shrinking government—we get to behold what the private sector is capable of, once the big tax-and-spend blunderbuss goes on a weight-loss expedition. In our book Free Money, we discuss the history of government-bond issuers' jealousy of the private market's ability to produce the range of financial securities. This is the primary reason that there have been banking panics in American history. Governments federal, state, and local in the United States dating back two hundred years have always tried to require banks to hold a healthy portion of their own bonds. A bank could get a license, or not face taxation, or otherwise be permitted to operate, if the major element in its reserves were bonds the government knew it would be tricky to market without a captured customer. Over time, therefore, banks as a rule had all sorts of government bonds on their books. Everybody in the banking system all but had to accept these things, these otherwise utterly undesired governments, and they became similar to cash. Since every banking institution needed them, they traded at par and approached, especially in the federal case, the status of 'riskless.' Wasn't that special? The private sector was innovating like mad, and developing a perfectly self-regulating banking subsector to minister to explosive economic growth, and the government stepped in to require that its presence be felt in every example of, every institution within, that banking system. Had the government chilled out in the old days, the market would have developed a base reserve security asset. We never got there, because the government had to have bonds out there (for what reason, goodness knows). The huge federal debt elbowed out the creation of a fully diverse securities market, in particular one that included riskless securities: this, at last, is the problem with our huge debt. In Free Money, we propose that once you have a monetary innovation machine the likes of Bitcoin, the notion that the federal government must be necessary to issue a base financial asset for the markets becomes preposterous. The diversification of financial securities under blockchain protocols is precisely the specialty of these protocols. As Bitcoin and crypto generally progress and progress, we should expect that approximations of riskless securities emerge from the process. As this eventuality takes hold, demand for federal debt instruments should go down. The private sector will reclaim its prerogative to create the entire range of necessary financial assets, including the kind of financial asset for which government bonds presume they are the only alternative. When this development is at hand, the financial markets will have increased their efficiency, with notable real effects in the economy and with respect to the prosperity of the nation and the globe. Unless—you knew this was coming—the government tries to halt the process by requirements, accounting standards mandates, and all the rest, making a market for government bonds that private blockchain securities could fulfill no problem at all. This of course will represent an efficiency loss and a hit to the general prosperity. We have been living with this efficiency loss, sad to say, as the debt got so big. There is no need—thank you, blockchain—for us to live with it any more. And if therefore the government defaults because demand for treasuries wanes in favor of approximately riskless blockchain securities? So what, the world will have approximately riskless securities via the blockchain, and any damage from the default would consequently be minor. Come on, future, arrive! In Free Money we give primacy of place to the remarkable speech Alan Greenspan of the Federal Reserve gave in 2001, as the federal debt outstanding was plummeting, in which the man said that it would be poignant if federal debt securities bit the dust, as private securities innovation picked up the slack. You bet they would. Surely one of the main reasons we have such a large debt is that government, in its narrow self-interest, wants to impede the full development of private financial securities. Do try to be of better character, government, and shrink yourself, starting with your silly 'benchmark' debt instruments.