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Grindr director James Lu sells $20 million in stockManchester United manager Ruben Amorim hailed Arsenal as one of the best set-piece teams he has ever faced following the 2-0 defeat at Arsenal. The Gunners took two points out of Liverpool’s lead at the summit of the Premier League after Jurrien Timber and William Saliba struck in the second half – both from corners – to condemn Amorim to his first defeat as United boss. The hosts’ second-half strikes took their goals-from-corners tally to 22 since the start of last season – a statistic that is unmatched by any other team in the division. Asked if Arsenal are one of the best teams he has come up against on corners, Amorim replied: “If you follow the Premier League for a long time you can see that. “You have seen in all Arsenal games that every team have had problems with that (corners). And the difference today was the set-pieces. “You see a goal and then the momentum changed, and it is really hard for us to take the full control of the game after that.” Timber leaned into Rasmus Hojlund at the front post before diverting Declan Rice’s set-piece into the back of Andre Onana’s net after 54 minutes to send Arsenal into the lead. Thomas Partey’s header from Saka’s corner then deflected in off Saliba’s shoulder with 17 minutes left. The Arsenal supporters cheered raucously every time they won a corner – landing 13 in all without reply. However, Arteta moved to play down the significance of Arsenal’s set-piece threat. “We need that, but we want to be very dangerous and very effective from every angle and every phase of play,” said Arteta. “Today we could have scored from open play like we did against West Ham and Sporting. Last year we scored the most goals in the history of this football club. “Not because of only set-pieces, but because of a lot of things that we have. We want to create individual and magic moments, too.” Arsenal’s win against United – the first time they have recorded four victories in a row against the Red Devils in the league – was their fourth in succession since the international break. They will head to Fulham on Sunday bidding to keep the momentum going. Arteta continued: “The will to win is there. We try our best to do that. We won four in a row, but it doesn’t matter. We have to go to Fulham now, try to be better than them and try win the game. “It’s every three days that we play. It’s a crazy schedule. We’re going to need everybody and to mentally be very strong.”
Not for the first time, there is panic in the Manchester United defence. Bukayo Saka is walking towards the corner and Nicolas Jover is positioned on the touchline. Rasmus Hojlund is holding onto William Saliba as if he is grasping onto a log while tumbling down a rapidly moving river. The Emirates senses the opportunity and understands what is happening: there is a queue of towering Arsenal players stationed at the back post and the United defenders are wearing expressions of grave concern. Suddenly, in a box of moving shadows, danger lay around every corner, every decoy became a target. Seconds later, Ruben Amorim was in the dugout rubbing his face, as what should have been a cohesive, organised block unravelled into strands. “The set pieces changed the game,” Amorim admitted. On a night where Arsenal initially didn’t look like scoring from open play, Mikel Arteta ’s side won due to two goals from corners to move within seven points of Liverpool . In all of this, United became the latest victims of Arsenal's not-so-secret weapon. Since the start of last season, no team in Europe has scored more goals from corners than their 22. “Set-piece again, ole, ole, ole,” was the song ringing around the Emirates. The tally may have increased further. “We could've scored more and I'm very pleased with that,” said Arteta, as the visitors imploded against the dead-ball, in a crisis of in-game management and on-pitch leadership. The wicked deliveries from Declan Rice and Saka, hit with such precision, pace and consistency, gives Arsenal a clear edge over their opponents. Amorim and United were aware of Arsenal’s record from corners but were powerless to stop it. The Portuguese agreed that Arsenal’s corners were the best he had faced as a coach. “Every team have had problems with that,” he said. The threat was clear long before Jurrien Timber’s opening goal. After the breakthrough, every corner became a moment, as the Arsenal fans rose to cheer every run-up while United crumbled. It fed into a sense of inevitability. Even the delay as Rice or Saka walk to the corner flag gives Arsenal time to slow down and orchestrate their chosen routine, as the set-piece coach Jover emerges on the sideline and the excitement grows. Arteta spoke of the “connection” and “belief” in the stadium that makes defending corners even “more difficult for the opposition”. There was satisfaction, too, that they had managed to be so effective without their most imposing target in Gabriel Magalhaes. Amorim had warned the “storm” was coming. United, it turned out, couldn’t handle a rainy Wednesday night at the Emirates. “We have to improve, like in every area,” Amorim said. United appeared shaky and vulnerable to the inswinging deliveries, which was in complete contrast to how they were structured defensively in open play. The corners kept coming, too, reaching 13 by full-time, as Amorim highlighted why Saka and Gabriel Martinelli often opt to go around the outside of their full-back if the inside route is shut down. “They know that if the cross goes well, they can score, and if it is a corner they can score, too,” he suggested. It was noticeable that this was one of several statements regarding Arsenal’s record from corners that Arteta did not completely agree with post-match. Arsenal have become so efficient from set-pieces because the club needed to “maximise” all areas of their preparation and performance in order to challenge Pep Guardiola’s Manchester City for the title, but the Spaniard does not want other elements of his team to be overlooked. Arsenal have not suddenly turned into Stoke City under Tony Pulis - at the least, Arteta does not want any comparisons. “We want to be very dangerous and very effective from every angle and every phase of play,” he said. “Last year we scored the most goals in the history of this football club, not because of only set-pieces but because of a lot of things that we have. We want to create individual and magic moments, too." But against United, Arsenal’s goals from corners were those magic, game-changing moments. United had denied and frustrated Arsenal at first with their shape and work rate off the ball. The double full-backs of Noussair Mazraoui and Tyrell Malacia were initially effective against Saka and Martin Odegaard, who was blocked from getting into his usual zones of influence. Amorim was convinced it was working as he returned into the dressing room at half-time. “You could feel it in the stadium,” he said. “We managed to control moments.” The breakthrough, flicked in Timber, came down to the accuracy of Rice’s cross and hitting the perfect spot at the near-post. From a short run-up, he bypassed two United players in Bruno Fernandes and Hojlund, having just enough dip to find Timber’s run. Rice explained his approach. “It's more just seeing clips and I know the weight I need to put on the ball and it's just about repetition,” he said. “I put a few good balls in and could've had a couple of assists so it was nice to get one.” By then, the whole stadium sensed United’s vulnerability. Arsenal hit the bar from Rice’s cross from the right, with goalkeeper Andre Onana exposed again. Even when United made the first contract at the near post, Joshua Zirkzee came close to directing Rice’s delivery inside the far post. Mikel Merino headed wide, from another Saka cross that was hung up towards the back as United second guessed themselves. There was a great piece of reinvention for Arsenal’s second, too. In the first half, Saka’s crosses had been directed right under Onana’s crossbar, causing jittery flaps and punches, along with a blocked shot from Oleksandr Zinchenko and a glaring miss from Martinelli. Then, with United’s front-post defence prepared for the train of Arsenal shirts, Saka hung a beautiful booming ball towards the back. Thomas Partey nodded across for Saliba to tap in, as Hojlund grasped. Arsenal, by then, needed it. They had threatened in the first half, but only from their corners. But when Arsenal are frustrated, they now have a back-up plan. Arsenal are not a set-piece team, but their work in becoming the best in Europe certainly paid off as they maintained their momentum in the title race.THE HAGUE, Netherlands (AP) — A United Nations watchdog has been selected to lead an external probe into allegations of sexual misconduct against the top prosecutor of the International Criminal Court, The Associated Press learned Tuesday. The move will likely generate conflict of interest concerns owing to the prosecutor’s wife’s past work for the oversight body. Chief prosecutor Karim Khan provided updates on the court's politically sensitive investigations into war crimes and atrocities in Ukraine, Gaza and Venezuela among other conflict areas during the institution's annual meeting this week in The Hague, Netherlands. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.
All three major US stock indexes scored record closing highs on Wednesday as technology shares rallied after upbeat results from Salesforce and as comments by Federal Reserve Chair Jerome Powell gave a late boost to the market. or signup to continue reading The economy is stronger than it appeared in September when the central bank began cutting interest rates, allowing policymakers to potentially be a little more cautious in reducing rates further, Powell said at a New York Times event. Powell's comments overall along with a Fed economic activity report added to the upbeat tone in the market, said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. The Fed said in a summary of surveys and interviews from across the country known as the "Beige Book" that US economic activity has expanded slightly in most regions since early October. Powell "was very upbeat about economy, and he said we're making progress on inflation ... that's good news for stocks in general," Cardillo said. Investors expect a third consecutive interest-rate cut at the central bank's December 17-18 meeting. Salesforce jumped 11 per cent and hit an all-time high after the enterprise cloud company beat analyst estimates for third-quarter revenue and raised the lower end of its annual revenue forecast. Other cloud companies also advanced. The S&P 500 technology index hit a record closing high, along with the communication services and consumer discretionary indexes. Also in the tech space, Marvell Technology rallied 23.2 per cent and also hit a record high after the chipmaker forecast fourth-quarter revenue above analyst estimates. An index of semiconductors rose 1.7 per cent, while Nvidia was up 3.5 per cent. The Dow Jones Industrial Average rose 308.91 points, or 0.69 per cent, to 45,014.44, the S&P 500 gained 36.59 points, or 0.60 per cent, to 6,086.47 and the Nasdaq Composite gained 254.21 points, or 1.30 per cent, to 19,735.12. Investors eagerly await monthly US jobs data due on Friday and jobless claims data on Thursday. Earlier Wednesday, US private payrolls data showed a modest increase in November. Separately, a survey from the Institute for Supply Management showed US services sector activity slowed in November after big gains in recent months. The final reading of the S&P services survey was revised lower to 56.1. "Recent economic data has pretty much confirmed the Fed will cut rates in December," said Sam Stovall, chief investment strategist at CFRA Research in New York. Friday's jobs report is "like the granddaddy of employment reports this week," he said. Advancing issues outnumbered decliners by a 1.2-to-1 ratio on the NYSE. There were 367 new highs and 79 new lows on the NYSE. On the Nasdaq, 2,372 stocks rose and 1,930 fell as advancing issues outnumbered decliners by a 1.23-to-1 ratio. Volume on US exchanges was 13.06 billion shares, compared with the 14.89 billion average for the full session over the last 20 trading days. Advertisement Sign up for our newsletter to stay up to date. We care about the protection of your data. Read our . Advertisement
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Clinical and regulatory success in 2024 expected to drive value in 2025 CRANFORD, N.J. , Dec. 27, 2024 /PRNewswire/ -- Citius Pharmaceuticals, Inc. ("Citius Pharma" or the "Company") (Nasdaq: CTXR), a biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products today reported business and financial results for the fiscal full year ended September 30, 2024 . Fiscal Full Year 2024 Business Highlights and Subsequent Developments Achieved U.S. Food and Drug Administration (FDA) approval of LYMPHIRTM (denileukin diftitox-cxdl), an immunotherapy for the treatment of adults with relapsed or refractory cutaneous T-cell lymphoma (CTCL); Advanced manufacturing, marketing and sales activities in preparation for commercial launch of LYMPHIR in the first half of 2025; Completed the merger of Citius Pharma's oncology subsidiary with TenX Keane to form Citius Oncology, Inc., a standalone publicly traded company which began trading on the Nasdaq exchange under the ticker symbol CTOR on August 13, 2024 ; Supported two investigator-initiated trials to explore LYMPHIR's potential as an immuno-oncology combination therapy being conducted at the University of Pittsburgh Medical Center and the University of Minnesota ; Shared interim trial results with the clinical community at the Society for Immunotherapy of Cancer Conference (SITC) of University of Pittsburgh Medical Center's Phase I trial of LYMPHIR with checkpoint inhibitor pembrolizumab; and, Met primary and secondary endpoints in the Phase 3 Pivotal Trial of Mino-Lok ® , demonstrating a statistically significant improvement in time to catheter failure of infected catheters compared to other physician-selected anti-infective lock solutions. Financial Highlights Cash and cash equivalents of $3.3 million as of September 30, 2024 ; R&D expenses were $11.9 million for the full year ended September 30, 2024 , compared to $14.8 million for the full year ended September 30, 2023 ; G&A expenses were $18.2 million for the full year ended September 30, 2024 , compared to $15.3 million for the full year ended September 30, 2023 ; Stock-based compensation expense was $11.8 million for the full year ended September 30, 2024 , compared to $6.6 million for the full year ended September 30, 2023 ; and, Net loss was $39.4 million , or ($5.97) per share for the full year ended September 30, 2024 compared to a net loss of $32.5 million , or ($5.57) per share for the full year ended September 30, 2023 . "In fiscal year 2024 we drove tremendous progress in our pipeline. It was a transformative year, marked by our first FDA approval and significant clinical milestones. The approval of LYMPHIRTM and the positive Phase 3 results for Mino-Lok® underscore our commitment to developing innovative therapies. Our team successfully responded to FDA comments related to the biologics license application for LYMPHIR and ultimately gained FDA approval. Productive engagement with the FDA regarding the positive results of our Phase 3 Mino-Lok® trial and Phase 2 Halo-Lido trial clarified our next steps for both programs. We anticipate continued engagement with the agency in the coming year and look forward to their guidance. Additionally, we are exploring strategic partnerships and licensing opportunities to maximize the potential of our portfolio and bring these important therapies to market efficiently," stated Leonard Mazur , Chairman and CEO of Citius Pharma. "Looking ahead, our priorities for fiscal year 2025 include launching LYMPHIRTM through our majority-owned subsidiary, Citius Oncology, driving the clinical and regulatory strategies for Mino-Lok® and Halo-Lido, fortifying our financial position, and applying a disciplined approach to resource allocation. We expect to launch LYMPHIR in the first half of 2025 and distribute CTOR shares to Citius Pharma shareholders by the end of the year, pending favorable market conditions. Our goal remains to deliver value for patients, healthcare providers, and shareholders. With a clear vision and a strong team, we are well-positioned to execute on our mission of bringing innovative therapies to market," added Mazur. FULL YEAR 2024 FINANCIAL RESULTS: Liquidity As of September 30, 2024 , the Company had $3.3 million in cash and cash equivalents. As of September 30, 2024 , the Company had 7,247,243 common shares outstanding, as adjusted for the 1-for-25 reverse stock split of the Company's common stock, effected on November 25, 2024 . During the year ended September 30, 2024 , the Company received net proceeds of $13.8 million from the issuance of equity. The Company expects to raise additional capital to support operations. Research and Development (R&D) Expenses R&D expenses were $11.9 million for the full year ended September 30, 2024 , compared to $14.8 million for the full year ended September 30, 2023 . The decrease in R&D expenses primarily reflects the completion of the Halo-Lido trial and completion of activities related to the regulatory resubmission for LYMPHIR, offset by shutdown costs associated with the end of the Phase 3 trial for Mino-Lok. We expect research and development expenses to decrease in fiscal year 2025 as we continue to focus on the commercialization of LYMPHIR through our majority-owned subsidiary, Citius Oncology and because we have completed the Phase 3 trial for Mino-Lok. General and Administrative (G&A) Expenses G&A expenses were $18.2 million for the full year ended September 30, 2024 , compared to $15.3 million for the full year ended September 30, 2023 . The increase was primarily due to costs associated with pre-launch and market research activities associated with LYMPHIR. General and administrative expenses consist primarily of compensation costs, professional fees for legal, regulatory, accounting and corporate development services, and investor relations expenses. Stock-based Compensation Expense For the full year ended September 30, 2024 , stock-based compensation expense was $11.8 million as compared to $6.6 million for the prior year. The increase of $5.2 million is largely due to the grant of options under the Citius Oncology stock plan. Stock-based compensation expense under the Citius Oncology stock plan was $7.5 million during the year ended September 30, 2024 , compared to $2.0 million for the year ended September 30, 2023 , as the plan was initiated in July 2023 . For the years ended September 30, 2024 and 2023, stock-based compensation expense also includes $47,547 and $130,382 , respectively, for the NoveCite stock option plan. In fiscal years 2023 and 2024, we granted options to our new employees and additional options to other employees, our directors, and consultants. Net loss Net loss was $39.4 million , or ($5.97) per share for the year ended September 30, 2024 , compared to a net loss of $32.5 million , or ($5.57) per share for the year ended September 30, 2023 , as adjusted for the reverse stock split. The increase in net loss reflects an increase in operating expense of $5.3 million offset by a decrease of $1.6 million in other income. Operating expense increased due to increases in stock-based compensation and general and administrative expenses, which were offset by decreased research and development expense. About Citius Pharmaceuticals, Inc. Citius Pharma is a biopharmaceutical company dedicated to the development and commercialization of first-in-class critical care products. In August 2024 , the FDA approved LYMPHIRTM, a targeted immunotherapy for an initial indication in the treatment of cutaneous T-cell lymphoma. Citius Pharma's late-stage pipeline also includes Mino-Lok®, an antibiotic lock solution to salvage catheters in patients with catheter-related bloodstream infections, and CITI-002 (Halo-Lido), a topical formulation for the relief of hemorrhoids. A Pivotal Phase 3 Trial for Mino-Lok and a Phase 2b trial for Halo-Lido were completed in 2023. Mino-Lok met primary and secondary endpoints of its Phase 3 Trial. Citius Pharma is actively engaged with the FDA to outline next steps for both programs. For more information, please visit www.citiuspharma.com . Forward-Looking Statements This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements are made based on our expectations and beliefs concerning future events impacting Citius Pharma. You can identify these statements by the fact that they use words such as "will," "anticipate," "estimate," "expect," "plan," "should," and "may" and other words and terms of similar meaning or use of future dates. Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated, and, unless noted otherwise, that apply to Citius Pharma are: our ability to raise additional money to fund our operations for at least the next 12 months as a going concern; our ability to commercialize LYMPHIR through our majority-owned subisity and any of our other product candidates that may be approved by the FDA; the estimated markets for our product candidates and the acceptance thereof by any market; the ability of our product candidates to impact the quality of life of our target patient populations; risks related to research using our assets but conducted by third parties; risks relating to the results of research and development activities, including those from our existing and any new pipeline assets; our ability to maintain compliance with Nasdaq's continued listing standards; our dependence on third-party suppliers; our ability to procure cGMP commercial-scale supply; our ability to obtain, perform under and maintain financing and strategic agreements and relationships; uncertainties relating to preclinical and clinical testing; the early stage of products under development; market and other conditions; risks related to our growth strategy; patent and intellectual property matters; our ability to identify, acquire, close and integrate product candidates and companies successfully and on a timely basis; government regulation; competition; as well as other risks described in our Securities and Exchange Commission ("SEC") filings. These risks have been and may be further impacted by any future public health risks. Accordingly, these forward-looking statements do not constitute guarantees of future performance, and you are cautioned not to place undue reliance on these forward-looking statements. Risks regarding our business are described in detail in our SEC filings which are available on the SEC's website at www.sec.gov , including in Citius Pharma's Annual Report on Form 10-K for the year ended September 30, 2024 , filed with the SEC on December 27, 2024 , as updated by our subsequent filings with the SEC. These forward-looking statements speak only as of the date hereof, and we expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law. Investor Contact: Ilanit Allen ir@citiuspharma.com 908-967-6677 x113 Media Contact: STiR-communications Greg Salsburg Greg@STiR-communications.com -- Financial Tables Follow – CITIUS PHARMACEUTICALS, INC. CONSOLIDATED BALANCE SHEETS SEPTEMBER 30, 2024 AND 2023 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 3,251,880 $ 26,480,928 Inventory 8,268,766 — Prepaid expenses 2,700,000 7,889,506 Total Current Assets 14,220,646 34,370,434 Property and equipment, net — 1,432 Operating lease right-of-use asset, net 246,247 454,426 Other Assets: Deposits 38,062 38,062 In-process research and development 92,800,000 59,400,000 Goodwill 9,346,796 9,346,796 Total Other Assets 102,184,858 68,784,858 Total Assets $ 116,651,751 $ 103,611,150 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities: Accounts payable $ 4,927,211 $ 2,927,334 License payable 28,400,000 — Accrued expenses 17,027 476,300 Accrued compensation 2,229,018 2,156,983 Operating lease liability 241,547 218,380 Total Current Liabilities 35,814,803 5,778,997 Deferred tax liability 6,713,800 6,137,800 Operating lease liability – non current 21,318 262,865 Total Liabilities 42,549,921 12,179,662 Commitments and Contingencies Stockholders' Equity: Preferred stock - $0.001 par value; 10,000,000 shares authorized; no shares issued and outstanding — — Common stock - $0.001 par value; 16,000,000 shares authorized; 7,247,243 and 6,354,371 shares issued and outstanding at September 30, 2024 and 2023, respectively 7,247 6,354 Additional paid-in capital 271,440,421 253,056,133 Accumulated deficit (201,370,218) (162,231,379) Total Citius Pharmaceuticals, Inc. Stockholders' Equity 70,077,450 90,831,108 Non-controlling interest 4,024,380 600,380 Total Equity 74,101,830 91,431,488 Total Liabilities and Equity $ 116,651,751 $ 103,611,150 Reflects a 1-for-25 reverse stock split effective November 25, 2024. CITIUS PHARMACEUTICALS, INC. CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE YEARS ENDED SEPTEMBER 30, 2024 AND 2023 2024 2023 Revenues $ — $ — Operating Expenses: Research and development 11,906,601 14,819,729 General and administrative 18,249,402 15,295,584 Stock-based compensation – general and administrative 11,839,678 6,616,705 Total Operating Expenses 41,995,681 36,732,018 Operating Loss (41,995,681) (36,732,018) Other Income: Interest income, net 758,000 1,179,417 Gain on sale of New Jersey net operating losses 2,387,842 3,585,689 Total Other Income Net 3,145,842 4,765,106 Loss before Income Taxes (38,849,839) (31,966,912) Income tax expense 576,000 576,000 Net Loss (39,425,839) (32,542,912) Net loss attributable to non-controlling interest 287,000 - Deemed dividend on warrant extension (1,047,312) (1,151,208) Net Loss Applicable to Common Stockholders $ (40,186,151) (33,694,120) Net Loss Per Share Applicable to Common Stockholders - Basic and Diluted $ (5.97) (5.57) Weighted Average Common Shares OutstandingLorenz scores 20, Wofford downs Kentucky Christian 100-55Money can’t buy happiness or a presidential election. Democratic donors just learned that the hard way. After a candidate loses a high-profile, competitive race, the blame game begins. There are many places to point the finger when assessing Vice President Kamala Harris’ run. She entered the race late and only after President Joe Biden had a career-ending debate implosion. She didn’t run a primary gauntlet, which meant voters didn’t know her very well. Having to endure even a token primary may have helped her improve her interview skills. She struggled to separate herself from the failed policies of the Biden-Harris administration. She took a number of radical positions when running for president in 2019. The Trump campaign effectively used her own words to show voters that she was a radical leftist. But one common excuse for political failure, a lack of funding, doesn’t apply. Harris spent an astonishing $1.5 billion during her 15-week campaign. That works out to around $100 million a week. But even that understates her financial resources. When combined with Biden’s fundraising, the two Democratic campaigns had more than $2.1 billion, according to The New York Times. The Times reported the Trump campaign and Republican Party raised $1.2 billion. Money is certainly an important factor in political races. But the election results show its limits. “There is not a single expenditure in a different spot that would have changed the outcome of the race,” Bakari Sellers, a close ally of Harris, told the Times. Instead, “we had so much money it was hard to get it out the door.” Perhaps this explains why the Harris campaign spent millions on celebrity performances and social media influencers. It even paid $900,000 to advertise on the Las Vegas Sphere. All this is especially ironic given the progressive battle to limit free speech by restricting political expenditures. The far-left Brennan Center for Justice says it’s committed to a “long-term push to overturn Citizens United,” in which the Supreme Court affirmed that arbitrary limits on political spending ran afoul of the Bill of Rights. During oral arguments, the government admitted that the law in question would potentially allow federal regulators to ban books. Ouch. Despite the massive fundraising numbers, Axios reported recently that the Harris campaign is likely to conclude with “millions of dollars in debt.” There’s an old adage about politicians not being responsible with other people’s money. That’s certainly true when it comes to taxpayer dollars. In Harris’ case, it applied to her donors as well. They may have been costly, but the Harris campaign has provided the American public with valuable lessons.
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