Archive for Samuel Horti

Cases of COVID-19 in nursing homes have steadily fallen since the US rolled out vaccines, the latest data shows

pfizer vaccine covid 19 nursing homes
Vera Leip, 88, receives a Pfizer-BioNtech COVID-19 vaccine at the John Knox Village Continuing Care Retirement Community on December 16, 2020 in Pompano Beach, Florida.
  • New cases of COVID-19 in nursing homes have fallen steadily since US vaccine rollout, data shows.
  • The US recorded 32,500 new nursing home cases in the week ended December 20. 
  • For the week ended January 17, the figure was 17,584. A drop of 45% in four weeks. 
  • Visit Business Insider's homepage for more stories.

The latest government data on COVID-19 cases shows that new infections have steadily dropped in nursing homes since the US began rolling out vaccines.

The US gave its first coronavirus vaccine on December 14 to critical care nurse Sandra Lindsay. That week, ended December 20, the US recorded more than 32,500 new cases in nursing homes, Centers for Medicare and Medicaid Services data shows. That number has fallen every week since and for the week ended January 17, the most recent week for which data has been released, the US recorded 17,584 new cases.

That is a drop of more than 45% in four weeks.

The decline roughly mirrors a nationwide trend outside of nursing homes, Dr. Ashish K. Jha, dean of the Brown University School of Public Health, told The New York Times. Cases in nursing homes are driven by infections in the community, he said.

But the fact that cases in nursing homes have dropped faster, and began dropping earlier, than the rest of the country suggests the vaccine rollout is having its desired effect, Jha said.

Nursing home residents and staff have been among the first to receive their vaccinations: As of Saturday, more than 3.5 million vaccines have been given in nursing homes, Centers for Disease Control and Prevention data showed, per the Times.

Nonetheless, the rollout has been slower than hoped, Jha told the Times. Once all nursing home residents are vaccinated, "then we should feel really confident that these declines will continue and we will not see a spike back up, even if we see one in the national picture," he said.

Long-term care facilities account for 5% of US COVID-19 cases but more than 35% of deaths, data compiled by the Times suggests.

On Thursday, New York Attorney General Tish James accused Gov. Andrew Cuomo's administration of undercounting COVID-19 nursing home deaths by up to 50%. 

This followed an Associated Press investigation published in May, which found the Cuomo administration ordered more than 4,300 recovering COVID-19 patients back into nursing homes. 

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Biden is reportedly beefing up the national security panel CFIUS to scrutinize Chinese investment in US tech startups

Biden and Xi Jinping
Then Vice President Joe Biden and Chinese President Xi Jinping during the Obama administration.
  • Under President Joe Biden, CFIUS will scrutinize Chinese investment in US startups, the Wall Street Journal reported.
  • CFIUS will likely order divestments of US tech firms during 2021, officials told WSJ.
  • It will examine deals where investors have bought into US firms via intermediaries, they said.
  • Visit Business Insider's homepage for more stories.

A government body that scrutinizes foreign investment has been staffing up with experts from investment banks, VC firms, and tech companies, and under President Joe Biden will hunt for Chinese investment in American startups, according to a Wall Street Journal report.

The Committee on Foreign Investment in the US (CFIUS), built up a new enforcement arm under President Donald Trump of about two-dozen people, anonymous government officials and national security lawyers told the Journal.

This team focused on foreign investment that could threaten national security. Under Biden, it has VC investments that can be traced back to China in its sights, including small deals, the people said.

The group is this year expected to hand out fines, order companies to change their governance structure, or even demand divestment if it detects Chinese investment in certain deals, the people said.

It has recently sent letters to several dozen companies and requested details of foreign investment, according to anonymous lawyers, investors, and national security officials who spoke to the Journal.

It is specifically concerned about Chinese investment into US tech firms through intermediaries, because it's not always clear where the money comes from, people with the knowledge of the matter told the paper.

The Journal reported that CFIUS will become central to Biden's attempts to constrain China's influence in the tech world.

Reid Whitten, an attorney leading the CFIUS practice at law firm Sheppard Mullin, compared the enforcement group to a "buzzy SWAT team."

The Biden administration will give the enforcement group clarity on the technologies that are deemed central to security and should therefore be off-limits to Chinese investors, as well as those from Russia and elsewhere, national security officials and others involved with CFIUS told the Journal.

A spokeswoman for the Biden administration told the Journal the White House "will ensure that CFIUS evolves into a 21st-century committee and is able to appropriately evaluate new and evolving risks."

CFIUS ordered divestments under Trump

One person with knowledge of the matter said that over the past year, CFIUS told several startups it was looking into seed-stage investments of $500,000 or less that involved a China-linked investor.

Separately, another source said that in 2020, CFIUS ordered Chinese investors to sell their stakes in two US semiconductor companies. The sources did not name the companies. 

CFIUS was also central to Trump's plans to force Huawei to sells its US arm.

"A more assertive CFIUS is here to stay," Sarah Bauerle Danzman, assistant professor of international studies at Indiana University Bloomington and a former CFIUS employee, told the Journal.

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Hyundai execs are reportedly ‘agonizing’ over whether to make Apple’s electric car. Some are reluctant to become a contractor for the US tech giant.

Tim Cook
Apple's CEO Tim Cook.
  • Some execs at Hyundai are wary of partnering with Apple to make electric vehicles, Reuters reported.
  • Hyundai confirmed in early January it was in "early-stage" talks with Apple about an electric car.
  •  "We are not a company which manufactures cars for others," one exec reportedly said.
  • Visit Business Insider's homepage for more stories.

Executives at South-Korean car giant Hyundai are split over whether the company should partner with Apple to make an electric vehicle, according to a Reuters report.

Hyundai acknowledged in early January that it was in "early-stage" discussions about making an electric car with Apple. But some execs are wary of becoming a contract manufacturer for the US tech giant, one executive familiar with internal discussions told Reuters.

"We are not a company which manufactures cars for others," they said. "It is not like working with Apple would always produce great results."

Apple uses contract manufacturers for other products: Foxconn, a Taiwanese company, makes its iPhones, for example.

South Korean media reported on January 10 that Hyundai and Apple planned to sign a deal by March 2021, make a "beta" version of an Apple electric vehicle in 2022, and potentially start full-scale production in 2024.

Apple has never acknowledged discussions with Hyundai, and declined to comment to Reuters on the latest report. 

Hyundai, which has extra production capacity, did not give an update on talks with Apple during a Tuesday earnings call, in which it reported its best quarterly profit in three years. Insider has asked Hyundai for comment.

People close to the discussions told Reuters if a deal were agreed, either Hyundai or Kia - owned by Hyundai Motor Co Group - would make the electric cars, which would be designed, sold, and branded by Apple.

Kia, not Hyundai, may end up building the cars

Another Hyundai exec told Reuters that "tech firms like Google and Apple want us to be like (contract phone maker) Foxconn.

"A cooperation may initially help raise the brand image of Hyundai or Kia. But in the mid- or longer-term, we will just provide shells for the cars, and Apple would do the brains."

Hyundai Motor Co Group has "tentatively decided" it would want Kia, not Hyundai, to partner with Apple if a deal goes ahead, one Hyundai insider told Reuters.

It said: "The Group is concerned that the Hyundai brand would become just Apple's contract manufacturer, which would not help Hyundai in its effort to build a more premium image with its Genesis brand."

The Genesis brand, which includes the recently released Genesis G90 sedan, comprises Hyundai's most luxury cars. 

Kia has extra manufacturing capacity at its factory in Georgia, in the US, the person said.

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Jeff Bezos named Blue Origin’s new rocket-catching recovery ship after his mom, Jacklyn, who then smashed a bottle of champagne over its hull

Jeff bezos
Amazon's CEO and Blue Origin's owner Jeff Bezos.
  • Jeff Bezos on Tuesday unveiled his space company Blue Origin's latest craft.
  • The boat, designed as a mobile landing pad for the first stage of the company's New Glenn rocket, is named Jacklyn, after his mother.
  • "New Glenn's first stage will come home to the Jacklyn after every flight," Bezos said. "It couldn't be more appropriately named — Mom has always given us the best place and best heart to come home to."
  • Jacklyn Bezos cracked a bottle of champagne over the ship's hull as part of the ceremony.
  • Visit Business Insider's homepage for more stories.

Jeff Bezos on Tuesday unveiled his space company Blue Origin's latest ship: a rocket-catching recovery boat named after his mom.

The 600-foot ship, newly named Jacklyn, is designed as a floating landing point for the first-stage booster of New Glenn, the company's 310-foot rocket scheduled to begin launching in 2021. 

Blue Origin acquired the boat, previously known as the Stena Freighter, in 2018 but soon set out to refurbish and rename it.

Jacklyn Bezos cracked a bottle of champagne against the ship's hull in a ceremony on Tuesday, and her son posted a video of the event on Instagram.

"New Glenn's first stage will come home to the Jacklyn after every flight," he said. "It couldn't be more appropriately named - Mom has always given us the best place and best heart to come home to."

A post shared by Jeff Bezos (@jeffbezos)

On December 17, Blue Origin secured a major agreement with NASA to allow the New Glenn to take part in future missions, including planetary expeditions and satellite launches.

New Glenn is set to make its first launch from Cape Canaveral, Florida, in 2021. Jacklyn - the boat - will sit in the Atlantic Ocean, waiting for the rocket's first-stage booster, which will be programmed to land itself on the vessel after detachment.

SpaceX, Elon Musk's aerospace company, uses two autonomous drone ships to land the Falcon 9 rockets' first-stage boosters. They are called "Of Course I Still Love You" and "Just Read the Instructions" - a tribute to Iain M. Banks' "Culture" series of sci-fi novels.

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Jeff Bezos named Blue Origin’s new rocket-catching recovery ship after his mom, Jacklyn, who then smashed a bottle of champagne over its hull

Jeff bezos
Amazon's CEO and Blue Origin's owner Jeff Bezos.
  • Jeff Bezos on Tuesday unveiled his space company Blue Origin's latest craft.
  • The boat, designed as a mobile landing pad for the first stage of the company's New Glenn rocket, is named Jacklyn, after his mother.
  • "New Glenn's first stage will come home to the Jacklyn after every flight," Bezos said. "It couldn't be more appropriately named — Mom has always given us the best place and best heart to come home to."
  • Jacklyn Bezos cracked a bottle of champagne over the ship's hull as part of the ceremony.
  • Visit Business Insider's homepage for more stories.

Jeff Bezos on Tuesday unveiled his space company Blue Origin's latest ship: a rocket-catching recovery boat named after his mom.

The 600-foot ship, newly named Jacklyn, is designed as a floating landing point for the first-stage booster of New Glenn, the company's 310-foot rocket scheduled to begin launching in 2021. 

Blue Origin acquired the boat, previously known as the Stena Freighter, in 2018 but soon set out to refurbish and rename it.

Jacklyn Bezos cracked a bottle of champagne against the ship's hull in a ceremony on Tuesday, and her son posted a video of the event on Instagram.

"New Glenn's first stage will come home to the Jacklyn after every flight," he said. "It couldn't be more appropriately named - Mom has always given us the best place and best heart to come home to."

A post shared by Jeff Bezos (@jeffbezos)

On December 17, Blue Origin secured a major agreement with NASA to allow the New Glenn to take part in future missions, including planetary expeditions and satellite launches.

New Glenn is set to make its first launch from Cape Canaveral, Florida, in 2021. Jacklyn - the boat - will sit in the Atlantic Ocean, waiting for the rocket's first-stage booster, which will be programmed to land itself on the vessel after detachment.

SpaceX, Elon Musk's aerospace company, uses two autonomous drone ships to land the Falcon 9 rockets' first-stage boosters. They are called "Of Course I Still Love You" and "Just Read the Instructions" - a tribute to Iain M. Banks' "Culture" series of sci-fi novels.

Read the original article on Business Insider

A Boeing 737 Max suffered a mid-air engine issue and was forced to make an unscheduled landing in Arizona

Air Canada Boeing 737 Max 8
An Air Canada Boeing 737 Max 8.
  • An Air Canada Boeing 737 Max aircraft flying from Arizona to Montreal, Canada, was forced into an unscheduled landing because of an engine problem, the airline said Friday.
  • The aircraft was diverted soon after take off on December 22 when the crew received an "engine indication" and "decided to shut down one engine," the airline said.
  • The three crew members were the only people on board.
  • Boeing 737 Max aircraft were grounded for 18 months following two fatal crashes that killed 346 people — although the engines were not implicated. Airlines began using them again in early December.
  • Visit Business Insider's homepage for more stories.

An Air Canada Boeing 737 Max aircraft was forced into an unscheduled landing in Tuscon, Arizona after the crew noticed a problem with an engine, the airline confirmed Friday.

The only people on board were three crew members, the airline said.

The aircraft was scheduled to fly from Arizona to Montreal, Canada, but was diverted soon after take off when the crew received an "engine indication" and "decided to shut down one engine," the airline said.

"The aircraft then diverted to Tucson, where it landed normally and remains," it said.

"Modern aircraft are designed to operate with one engine and our crews train for such operations," the airline said.

Boeing 737 Max aircraft were grounded for 18 months following two fatal crashes in 2018 and 2019 that killed 346 people. Airlines began using the craft again in early December, starting in Brazil.

The two fatal crashes were put down to flaws in automated flight software, which caused the planes to nosedive. The engines were not blamed. Boeing has made a number of changes to the aircraft since the crashes, including to the flight control software. 

Belgian aviation news website Aviation24.be reported that the Air Canada crew discovered "left engine hydraulic low pressure" followed by "an indication of a fuel imbalance" from the left-hand wing.

The incident happened on December 22.

Airlines have been rushing to get the plane back in the air, take deliveries of delayed orders, and place new orders, despite customer skepticism.

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Biden ally Larry Summers, a former treasury secretary, said $2,000 stimulus checks would be a ‘serious mistake’ that could overheat the economy

Larry Summers, former Treasury secretary
Former Treasury secretary Larry Summers
  • Former US treasury secretary Larry Summers told Bloomberg on Friday that $2,000 stimulus checks for Americans would be a "pretty serious mistake."
  • Summers, who was reportedly an adviser to President-elect Joe Biden's campaign, said boosting consumer spending was the wrong route to economic recovery.
  • The checks could overheat the US economy, he told Bloomberg.
  • US President Donald Trump has so far refused to sign a pandemic relief bill containing $600 checks for Americans, saying the checks should be $2,000 instead. The Democrats support larger checks.
  • Visit Business Insider's homepage for more stories.

Larry Summers, the former US treasury secretary who has reportedly advised President-elect Joe Biden, thinks $2,000 stimulus checks would be a "pretty serious mistake" that could overheat the US economy.

Congress approved a $2.3 trillion pandemic relief package containing $600 checks for struggling Americans on Monday. On Thursday, US President Donald Trump called for $2,000 checks instead, and he has refused to sign the bill. Democrats support these larger checks, and House Speaker Nancy Pelosi plans to hold a vote on them Monday.

Summers, who was treasury secretary at the end of Bill Clinton's presidency and director of the National Economic Council at the start of Barack Obama's administration, told Bloomberg it'd be better to have stimulus than not - but that promoting consumer spending through individual checks was the wrong way to keep the economy moving.

He said he was "not even sure I'm so enthusiastic about the $600 checks," let alone $2,000 ones. 

The bill "probably would pay out $200 billion to $250 billion a month for the next three months," Summers said.

"The level of compensation is running about $30 billion a month below what we would have expected it would. GDP is running about 70 billion a month below what we would have expected it would ... We have stimulus already, much more than filling out the hole," he said.

"And given that lots of the hole is not from the fact that people don't want to spend, but because they can't spend - they can't take a flight or go to a restaurant - I don't necessarily think that the priority should be on promoting consumer spending beyond where we are now," he said.

Handing $2,000 checks to Americans would be a "pretty serious mistake that would risk a temporary overheat," he added.

Read more: Joe Biden is hiring about 4,000 political staffers to work in his administration. Here's how 3 experts say you can boost your chances of getting one of those jobs.

Summers was advising the Biden campaign this year, Bloomberg reported, but will not take a role in the Biden administration.

Progressive groups in May urged Biden to drop Summers, criticizing the former treasury secretary's economic policy record.

Democrats appear united behind the idea of larger stimulus checks, and a Democratic attempt to advance them was blocked by House Republicans Thursday. Progressive Democrats, in particular, reacted positively to Trump saying the $600 checks were not enough.

"When you see the two extremes agreeing, you can almost be certain that something crazy is in the air," Summers said, adding that when Sen. Bernie Sanders and Trump are aligned, it's "time to run for cover."

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A Boston physician said he had a severe allergic reaction to Moderna’s COVID-19 vaccine, the first reported case of its kind for the shot. Moderna is looking into it.

Moderna vaccine
Lab tech Sendy Puerto processes blood samples from Moderna's coronavirus vaccine clinical trials study participants September 2, 2020 in Miami, Florida.
  • Boston physician Dr. Hossein Sadrzadeh on Thursday said he had a severe allergic reaction to receiving Moderna's COVID-19 shot.
  • He told the New York Times that he felt dizzy and his heart began racing shortly after receiving the shot. He was taken to the emergency department and later discharged, and is now doing well.
  • It is believed to be the first documented case of a severe allergy linked to Moderna's vaccine, which was recently authorized by US regulators.
  • A handful of allergic reactions have been reported to Pfizer and BioNTech's shot, the only other vaccine authorized for emergency use in the US.
  • Moderna said it would look into the matter.
  • Visit Business Insider's homepage for more stories.

A Boston physician on Thursday said he had a severe allergic reaction to receiving Moderna's COVID-19 shot, which was recently authorized for emergency use in the US.

Dr. Hossein Sadrzadeh, a geriatric oncologist at Boston Medical Center, told the New York Times he felt dizzy and his heart began racing almost immediately after getting the shot.

A spokesman for Boston Medical Center told the Times that Dr. Sadrzadeh was "allowed to self-administer his personal EpiPen" - an adrenaline auto-injector used in allergy emergencies - and was then taken to the emergency department, where he was evaluated, treated, observed, and discharged. "He is doing well today," the spokesman said.

Dr. Sadrzadeh has a severe shellfish allergy, which is why he carries an EpiPen.

It is believed to be the first documented case of a severe allergy linked to Moderna's vaccine, which the US Food and Drug Administration (FDA) gave an emergency use authorization on December 19. The vaccine began rolling out Monday.

A handful of people have had allergic reactions to Pfizer and BioNTech's shot, which is the only other COVID-19 vaccine authorized for use in the US. Regulators in the UK, where the shot is also approved, said in early December that anyone with a history of "significant" allergies to food or medicines should avoid the current Pfizer COVID-19 vaccine, after two people had reactions. 

Reactions to Pfizer's shot appear to not be life-threatening, and data suggests the vaccine is safe for the vast majority of people with allergies.

Moderna spokesman Ray Jordan told the Times on Thursday that the company couldn't comment. On Friday, he said Moderna's medical safety team would look into the matter. 

The FDA declined to comment to the Times.

Centers for Disease Control and Prevention spokesman Tom Skinner said that the agency would post new information on vaccine reactions beginning next week. 

Read more: Meet the 35 healthcare startups VCs say will take off in 2021

Moderna's vaccine, which was designed in just two days, began reaching Americans early this week. Dr. Anthony Fauci, the nation's top infectious disease expert, was among those to get their first shot of the two-dose vaccine.

Pfizer and Moderna's vaccines are very similar in terms of their safety and efficacy. There may be slight differences in how they work in older people, but experts say more data is needed.

Because Pfizer's vaccine needs to be stored at ultra-cold temperatures, it will be distributed at larger institutions, while Moderna's vaccine may be more likely to reach smaller clinics and pharmacies.

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Elon Musk says it’s now ‘impossible’ to take Tesla private – and that a Starlink IPO is likely

Elon Musk
Tesla CEO Elon Musk.
  • Elon Musk said Friday that it's now "impossible" to take Tesla private.
  • "Tesla public company duties are a much bigger factor, but going private is impossible now (sigh)," Musk tweeted.
  • In response to another user, Musk said that "engineering, design & general company operations" were a "fundamental limitation" to spending more time on innovation.
  • He also said it was "likely" that Starlink, SpaceX's internet satellite project, would go public "once the revenue growth is reasonably predictable."
  • Visit Business Insider's homepage for more stories.

Elon Musk said Friday that it's now "impossible" to take Tesla private - even though doing so could lead to more innovation at the electric car maker.

Tesla's share price is nearly eight times higher than it was at the start of the year, and it entered the S&P 500 as its fifth-largest member on December 21.

Musk, responding to comments from YouTuber Dave Lee on Twitter, said Friday that "engineering, design & general company operations" were a "fundamental limitation" to spending more time on innovation.

"Tesla public company duties are a much bigger factor, but going private is impossible now (sigh)," he tweeted.

The term "going private" refers to converting a publicly traded company into a private entity through, for example, a private-equity buyout. 

Tesla's market cap of more than $600 billion would make it the biggest acquisition of all time.

In August 2018, Musk said he wanted to take Tesla private, in comments that got him in trouble with the Securities and Exchange Commission (SEC).

"Am considering taking Tesla private at $420. Funding secured," Musk tweeted at the time. The SEC argued Musk did not have a solid deal in place, and that he therefore made the statement knowing or having reason to know that it was "false and misleading."

He was forced to step down as Tesla's chairman.

Starlink IPO 'likely'

In a later tweet, Musk said that Starlink, the satellite internet project by his aerospace company SpaceX, would "most likely" spin out from SpaceX and go public "once the revenue growth is reasonably predictable."

Starlink is currently in public beta, and taking part costs $600 up front. About 900 satellites are beaming internet down to parts of the US and Canada, and some users are reporting speeds of more than 200 megabits per second.

Read more: WHAT EXODUS? Venture capitalists say they're bullish on Silicon Valley and San Francisco in 2021

Musk plans to take Starlink to other places in the world, including Europe, in 2021, and earlier in December SpaceX won $885 million in federal subsidies to expand Starlink to other places in the US.

In total, SpaceX plans to fly as many as 42,000 Starlink satellites into orbit. The goal is to provide high-speed internet to nearly any location on Earth, and generate $30 billion to $50 billion in annual revenue.

This is not the first mention of Starlink going public. "Right now, we are a private company, but Starlink is the right kind of business that we can go ahead and take public," SpaceX's chief operating officer Gwynne Shotwell said in February, per Bloomberg. "That particular piece is an element of the business that we are likely to spin out and go public."

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Jobless benefits for about 14 million Americans expire, as Trump still refuses to sign the pandemic aid package containing $600 stimulus checks

donald trump hands
US President Donald Trump.
  • Jobless benefits for millions of Americans expired Saturday.
  • A $2.3 trillion pandemic aid and spending package approved by Republicans and Democrats would extend special unemployment benefits, but President Donald Trump has so far refused to sign it.
  • Trump is unhappy with the massive bill, in part because he says that one-off $600 stimulus checks for struggling Americans are not large enough. He wants $2,000 checks.
  • Trump has not vetoed the bill and could still sign it in the coming days. The package contains $1.4 trillion for normal government spending — without it, a government shutdown looms.
  • Visit Business Insider's homepage for more stories.

Jobless benefits for millions of Americans expired on Saturday, after President Donald Trump refused to sign into law a $2.3 trillion pandemic aid and spending package.

Trump is unhappy with the massive bill, in part because he says that one-off $600 stimulus checks for struggling Americans are not large enough. He has demanded the amount be raised to $2,000 - but House Republicans on Thursday blocked a Democratic attempt to increase the size of the checks

Trump stunned Republicans and Democrats when he said Wednesday that he was unhappy with the massive bill, which provides $892 billion in badly needed coronavirus relief, including extending special unemployment benefits expiring on Saturday, and $1.4 trillion for normal government spending.

Without Trump's signature, about 14 million people could lose those extra benefits, according to Labor Department data. A partial government shutdown will begin on Tuesday unless Congress can agree a stop-gap government funding bill before then.

The bill was flown to Trump's Mar-a-Lago resort on Thursday. While the outgoing president's strategy for the bill remains unclear, he has not vetoed it and could still sign it in the coming days.

House Speaker Nancy Pelosi plans to hold a vote to approve $2,000 stimulus checks on Monday.

After months of wrangling, Republicans and Democrats agreed to the $2.3 trillion package on December 20, with the support of the White House. Trump, who hands over power to Democratic President-elect Joe Biden on January 20, did not object to terms of the deal before Congress voted it through on Monday night.

But since then, he has complained that the bill gives too much money to special interests, cultural projects, and foreign aid. He has also said its one-time $600 stimulus checks to millions of struggling Americans were too small - a view supported by Democrats, who have long-argued for a larger stimulus package.

"Why would politicians not want to give people $2,000, rather than only $600?...Give our people the money!" the billionaire president tweeted on Christmas Day, much of which he spent golfing.

Read more: Joe Biden is hiring about 4,000 political staffers to work in his administration. Here's how 3 experts say you can boost your chances of getting one of those jobs.

Many economists agree the bill's aid is too low but say the immediate support is still welcome and necessary.

A source familiar with the situation told Reuters that Trump's objection to the bill caught many White House officials by surprise. 

On Saturday, he was scheduled to remain in Mar-a-Lago. Biden, whose November 3 electoral victory Trump refuses to acknowledge, is spending the holiday in his home state of Delaware and had no public events scheduled for Saturday.

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