Biden commutes sentences of most federal death row inmates | The Excerpt
On Tuesday’s episode (first released on December 23, 2024) of The Excerpt podcast: President Joe Biden announced that he is commuting the sentences of nearly every inmate on federal death row to life in prison without the possibility of parol. President-elect Donald Trump says he will rename the country's tallest mountain, reverting to a former name. Paste BN Trending News Reporter Eric Lagatta looks back at the year in space exploration. Honda and Nissan have begun talks on a potential merger. Paste BN Personal Finance Reporter Daniel de Visé talks through some financial resolutions for 2025.
Hit play on the player below to hear the podcast and follow along with the transcript beneath it. This transcript was automatically generated, and then edited for clarity in its current form. There may be some differences between the audio and the text.
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Taylor Wilson:
Good morning, I'm Taylor Wilson,. And today is Monday, December 23rd, 2024. This is The Excerpt. Today, Donald Trump says he'll rename Denali. Plus, we look back on the year in space exploration, and we look ahead to the new year, by breaking down some doable financial resolutions.
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President Joe Biden has announced that he is commuting the sentences of nearly every inmate on federal death row to life in prison, without the possibility of parole. The move is intended to keep his successor, President-elect Donald Trump, from going forward with executions he had previously halted. In a statement today, Biden said that he was issuing the commutations to 37 of 40 federal death row prisoners. In keeping with a moratorium, his administration imposed on executions. The moratorium excludes individuals convicted of terrorism and hate motivated mass murder.
The list of commutations released by the White House does not include Dzhokhar Tsarnaev, who was convicted in the 2013 Boston Marathon bombing that killed three people and injured more than 260, or Robert Bowers, convicted in the 2018, Tree of Life Synagogue mass shooting in Pittsburgh, that left 11 people dead. Biden also declined to commute the sentence of Dylann Roof, who was convicted in the 2015 Charleston South Carolina mass shooting at an African-American church. Nine people were killed there.
Biden pledged to end the death penalty during his presidential campaign and had been under pressure from progressive lawmakers and criminal justice activists to commute the sentences of federal death row inmates, before Donald Trump takes office. Trump has said he would seek to expand the death penalty in his second term. During its first White House stint, the Trump administration carried out 13 federal executions, ending a 17-year hiatus.
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President-elect Donald Trump says he will rename Denali to Mount McKinley. The name currently refers to Alaska Native's name for North America's tallest mountain. Democratic former President Barack Obama in 2015 officially renamed the mountain as Denali, siding with the state of Alaska, after a decade's long naming battle. The peak had been officially called Mount McKinley since 1917, after William McKinley, the 25th US President. The mountain was initially named Mount McKinley in 1896, after a gold prospector exploring the region heard that McKinley, a champion of the gold standard, had won the Republican nomination for President.
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It was a big year for space exploration. I spoke with Paste BN trending news reporter Eric Lagatta for a look back at some of the biggest stories. Eric, thanks for hopping on today.
Eric Lagatta:
Yeah, thanks for having me, Taylor.
Taylor Wilson:
So, Eric, let's start here. Of course, one of the biggest stories of the year really had to do with these astronauts who got delayed at the International Space Station, and I know we have a new update on them this week. Refresh us on this story, Eric, and what's the latest?
Eric Lagatta:
So, Starliner astronauts, they flew up to the International Space Station in June, on the Boeing Starliner spacecraft, which of course NASA is hoping to one day have as a second operational vehicle in addition to the SpaceX Dragon, to be making regular trips to the Space station with both crew and cargo. So, this would've been their initial flight test with a crew on board. And of course, when the astronauts arrived at the station, engineers discovered some issues with the Starliner itself and they were only supposed to be at the station for about several days in June and ended up being there for a few more months while NASA decided what to do.
And ultimately, NASA decided to send the Starliner spacecraft back to Earth without the two astronauts. And they're remaining at the Space station right now, with the vehicle that's going to bring them back did arrive there as well in September, which is a SpaceX Dragon. And originally, they were scheduled to return on the Dragon in February, with two other astronauts who are part of the Crew-9 mission. But the latest this week is that, NASA has decided to delay the return of that mission by about another month, maybe till late March. And that has to do with Crew-10. They would be the replacement crew for Crew-9.
But from what I understand from what NASA has said, they're using a new Dragon vehicle to send Crew-10 to the Space station and they just need more time to get that prepared. So, it sounds like they're opting for safety over speed with this and just felt more comfortable just waiting another month. So yeah, the Starliner astronauts are facing another additional month in space now. So, they'll be up there until at least late March, after getting there in June.
Taylor Wilson:
Wow. It's a long haul up in space. I guess what's another month in the grand scheme of things. But, let's backtrack a little bit, Eric, to the beginning of the year in February and this uncrewed mission to the moon, which I had kind of forgotten about. What can you tell us about this and what might it set up for the future?
Eric Lagatta:
So yeah, earlier this year, NASA had two private companies lined up to send uncrewed lunar landers or attempt to send uncrewed lunar landers. The first one, of course wasn't able to make it there. And hopes were really high for this company, Intuitive Machines, based in Houston. Their lunar lander did end up making it to the landing on the moon in February. It was the first time that any American craft had been to the moon in more than 50 years since NASA's Apollo era, and was also the first time that a craft operated and designed and built by a private company has ever made it to the moon. So, it was very much a historic moment this year.
Taylor Wilson:
And Eric, there's been a lot made about SpaceX's Starship Rocket. What makes this so special and what's next for this project?
Eric Lagatta:
The Starship Rocket is going to play a pivotal role in future space exploration and deep space missions. Probably the most notable or soonest role it will have will be in NASA's Artemis Moon missions, specifically for the Artemis III mission. Those Artemis missions, Artemis II and III also recently got delayed by another year. So, we're looking at Artemis III maybe in 2027 as of now. SpaceX's Starship vehicle will basically play a role in transporting astronauts from orbit to the lunar surface and then bringing them back up to the Orion spacecraft. And then of course in the future, SpaceX CEO Elon Musk has talked about Starship playing a big role in having humans reach Mars one day and eventually colonize it. Earlier this year, he unveiled his vision of an uncrewed starship reaching Mars within the next two years, I believe, and then followed by perhaps crewed missions two years after that in 2028.
Taylor Wilson:
Let's go to the other side of the solar system and talk about Jupiter and Jupiter's Moon Europa. This is one of nearly a hundred Jupiter moons, but why is this one significant and what mission launched this fall to study there?
Eric Lagatta:
Scientists, astronomers, astrophysicists have long had their eyes on Europa and have considered it one of the best places to look for signs of life in our solar system. And the reason for that being, that it has a vast ocean beneath its icy surface. Other spacecraft have visited Europa before, but this last October, NASA was able to launch its Europa Clipper spacecraft, which is a mission that's been in the works for a number of years and is a mission that NASA considers to be a flagship mission of its agency.
And so, that craft is on its way to Europa now. It's got a few years till it reaches Europa, but when it gets there, it's going to be conducting 49 very close flybys of the moon, trying to get some data and details on what's beneath the surface. I understand, I think it's going to come as close as 16 miles within the surface of the moon. NASA's been very clear, they're not looking for life itself, they're just looking for signs that life could be supported in that way. And hopefully, it might help scientists learn a little bit more about these kinds of ocean worlds and how life might exist elsewhere beyond Earth.
Taylor Wilson:
Fascinating year in space. Eric Lagatta covers trending news for Paste BN. Thank you, Eric.
Eric Lagatta:
Thank you, Taylor.
Taylor Wilson:
Honda and Nissan have begun talks toward a potential merger. The move would create the world's third-largest auto group by vehicle sales after Toyota and Volkswagen. It comes as the pair have recently increased ties to persist in an EV marketplace, fueled by competition from Tesla and Chinese automakers and stalling demand in the U.S. and Europe. The merger would mark the biggest reshaping in the global auto industry since Fiat Chrysler Automobiles and PSA merged in 2021 to create Stellantis.
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As you wind down 2024 and holiday shopping, it might be a good chance to think ahead to some financial resolutions for 2025. I spoke with Paste BN personal finance reporter, Daniel de Vise for more. Thanks for hopping on today, Daniel.
Daniel de Vise:
Anytime, sir.
Taylor Wilson:
So, you wrote through several financial New Year's resolutions for 2025. Let's get into them starting with making a budget. Many of us try to do this, I think a lot of us get off track. What are some guiding principles to keep in mind?
Daniel de Vise:
I don't make a budget. I budget sort of impressionistically. I spend so much time thinking about my bank account every day, that I figure I can make do without an actual budget. But it's easier than ever to do a budget. There's these apps and my expert from Motley Fool recommended three of them. Budgets Are Sexy is one, YNAB, which stands for you need a budget, and Goodbudget. And these are all apps.
And another interesting thing is, the big banks all now offer their own budgeting apps. I could probably plug one in right now at Capital One with my main bank, but I just haven't. And then once you do that, if you're using a budgeting app at your bank, you can actually set alerts for, you're about to overspend your whatever budget, like your dining out budget for the month, which might be annoying, but it could also help keep you on track.
Taylor Wilson:
Yeah. Well, when it comes to saving for emergencies, Daniel, I'll admit I don't think much about this, not nearly enough, but it does seem like reasonable advice. How much to put away? What do the experts really say on this point?
Daniel de Vise:
It depends who you ask, but anybody who's heard anything about this, you'll know that you're supposed to save three to six months worth of your expenses. Or you could look at it as three to six months of your take home pay, which kind of equals your expenses, plus whatever you're saving. And as far as a hard sum, Investopedia came up with a number, which is $33,000, which is an average, which is a lot of money. And it's important to note, one quarter of households tell Bankrate, they have zero emergency savings. So, this is something that's aspirational. If you don't have any, save something, just start an account. Maybe you can automatically deposit into it every month, so you're not thinking about it.
Taylor Wilson:
And Daniel, what kind of yield should folks be looking for, when it comes to accruing annual interest on savings?
Daniel de Vise:
So, once you have any kind of savings account, in our current environment, you need to try to get, let's say 5%. I get 4% on my own high interest, high yield savings account, but 5% is not hard to get. The average online bank, those are the ones that don't have brick and mortar branches. The average one pays 3.9% according to WalletHub. So, it's not difficult to get a yield of 5% on your savings and you should shoot for that.
Taylor Wilson:
It's clear that credit card debt, Daniel, is a big issue in America. How severe have things gotten and what's some of the advice you hear from experts?
Daniel de Vise:
The average household now owes $10,870 in credit card debt according to WalletHub. And card rates are near historic highs, which older people like us have never experienced, 20 plus percent interest. Now, it would be pretty daunting to say, I'm going to pay off my entire credit card balance in 2025. But you can set a more modest goal, which is maybe pay off a quarter of it. 25% of your debt, according to my experts, you could probably accomplish that if you have an average balance, maybe with a couple hundred dollars a month, $300 a month. And that seems doable to me.
Taylor Wilson:
And of course, Daniel, there is that light or I guess darkness at the end of the tunnel, depending on your perspective. Retirement, it seems like the New Year's maybe a good time to set some plans here as well, regardless of age. What do the experts say on this one?
Daniel de Vise:
This is another one where I've done nothing, I've done nada. But ideally, by now, if you're in your forties, fifties, you've maybe met with a retirement plan or maybe you're even working with one. Again, I've done neither, so don't feel bad if you haven't. But at an absolute minimum, find an online retirement calculator. If you've got a 401k, maybe at Vanguard or Fidelity, I know they both have retirement calculators, you can just fill it out, it probably takes five minutes, you can do it over lunch or something and at least then you'll have something. As Rob Brokamp told me from Motley Fool, "Just see where you are. Take a measure, are you on track to retire when you want to? It will not take long. You can do it over a break from work."
Taylor Wilson:
All right, Daniel de Vise covers personal finance for Paste BN. I appreciate the insight and advice as always, Daniel. And happy New Year.
Daniel de Vise:
Happy holidays to you, sir.
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Taylor Wilson:
And today is National Christmas movie Marathon Day. If you're celebrating, it's time to get binging ahead of tomorrow. Thanks for listening to The Excerpt. You can get the podcast wherever you get your audio, and if you're on a smart speaker, just ask for The Excerpt. I'm Taylor Wilson, and I'll be back tomorrow with more of The Excerpt, from Paste BN.