Accounting
Jimmy Carter, the longest-living US President, has died at 100
Published
5 months agoon

Jimmy Carter, the former Georgia peanut farmer who as U.S. president brokered a historic and lasting peace accord between Israel and Egypt in a single term marred by soaring inflation, an oil shortage and Iran’s holding of American hostages, has died. He was 100.
Carter died Sunday at his home in Plains, Georgia, surrounded by his family, the Carter Center said Sunday in a statement. Public observances are planned in Atlanta and Washington, followed by a private interment in Plains.
The longest-living former U.S. president ever, Carter had opted in early 2023 to spend his remaining time at his home in Plains receiving hospice care. He was there alongside Rosalynn, his wife of 77 years, when she
A Democrat who rose from running his family’s peanut-farming and seed-supply businesses to serving as Georgia governor, Carter won the White House in 1976 over incumbent Gerald Ford by promising to bring honesty to an office tainted two years earlier by the resignation of Richard Nixon in the culmination of the Watergate scandal.
Ascetic, humble and deeply religious, Carter was skeptical of the pomp surrounding the presidency and came to Washington with fewer allies and fixed positions than most who hold the job.
His allegiance to an inner moral compass, his
Carter “assembled a new front line on nearly every issue, with no inherited party game plan or ideological playbook to fall back on,” Jonathan Alter wrote in a 2020 biography that painted him as often right in his instincts but flawed in executing government responses. The book was among several in recent years that offered a revised and sunnier view of Carter’s crisis-plagued tenure.
Though Carter “left the White House a widely unpopular president,” his achievements “shine brighter over time, few more than his unique determination to put human rights at the forefront of his foreign policy from the start of his presidency,” his chief domestic policy advisor, Stuart Eizenstat, wrote in a
State funeral
In a statement on Sunday, President Joe Biden eulogized Carter as “an extraordinary leader, statesman and humanitarian” who touched the lives of people around the world with “his compassion and moral clarity.” Biden said he’ll be ordering a state funeral for Carter in Washington, and he designated Jan. 9 as a national day of mourning.
President-elect Donald Trump, who often brought up Carter’s presidency during this year’s election campaign to needle Biden, said Carter faced challenges at a pivotal time in U.S. history. He “did everything in his power to improve the lives of all Americans,” Trump said on his Truth Social platform. “For that, we all owe him a debt of gratitude.”
The signature achievement of the Carter presidency, the Camp David Accords between Israel and Egypt, led to peaceful co-existence between the Middle East neighbors even as it fell short of resolving the conflict between Israel and the Palestinians.
That and other foreign policy breakthroughs, including the
On the domestic front, the Carter presidency was dogged by economic woes. Inflation reached 13.3% at the end of 1979 compared with 5.2% when he took office in January 1977. The Federal Reserve’s actions to stem price increases pushed home-mortgage rates to almost 15%, and Carter had to take
Malaise speech
A
With fuel prices skyrocketing and lines at gas stations lengthening, Carter told Americans that solving the energy mess “can also help us to conquer the crisis of the spirit in our country.” He said many Americans “now tend to worship self-indulgence and consumption.”
Though Carter never uttered the word, the address became known as the “malaise” speech and contributed to a sense that Carter was powerless to change the nation’s course.
“Our memory of the speech comes from those who reworked it, who twisted its words into a blunt instrument that helped them depose a president,” historian Kevin Mattson
Carter’s words, he noted, “received immediate applause and yet wound up ensuring his defeat” to Reagan in the 1980 election.
Just weeks after delivering the speech, Carter tapped Paul Volcker, president of the Federal Reserve Bank of New York, to take over as chair of the Federal Reserve, replacing G. William Miller, who became Treasury secretary. Volcker made it clear to Carter that he would deal head-on with inflation by pursuing tighter monetary policies than Miller. Volcker’s policies — which sent interest rates as high as 20% — came at a high price, the fallout contributing to Reagan’s landslide victory over Carter in the 1980 election.
Though some of Volcker’s policies “were politically costly, they were the right thing to do,” Carter commented
Nobel Prize
Carter made some of his biggest imprints on the world in the years after he left the White House. He “reinvented the post-presidency,”
In four-plus decades as an ex-president — the longest such tenure in American history — Carter waged a worldwide campaign against war, disease and the suppression of human rights through the Atlanta-based Carter Center, which he founded with his wife. The center made particular strides against
Carter was
His post-presidential causes were not without backlash. Fourteen advisers to the
Carter’s longevity defied the odds. He revealed in 2015 that he had melanoma, a type of cancer, and that it had spread to his brain. He received treatment, recovered and on March 22, 2019, became the longest-living chief executive in U.S. history. In 2021, Jimmy and Rosalynn Carter
His Christian faith, he said, made him “absolutely and completely at ease with death.”
Peanut farm
James Earl Carter Jr. was born on Oct. 1, 1924, in Plains, Georgia, the first of four children born to Earl Carter, a farmer, and the former Lillian Gordy, a nurse. He grew up in the nearby hamlet of Archery, where the family owned a peanut farm and a general store. He traveled two miles each day to Plains to attend an all-White school.
Electricity and indoor plumbing didn’t reach the Carter farm until 1935.
Carter attended the U.S. Naval Academy in Annapolis, Maryland, from 1943 to his graduation in 1946. He began dating a girl from Plains, Rosalynn Smith, when home on breaks. They married in July 1946 and would have four children — sons Jack, Chip and Jeff, and daughter Amy.
While serving in the Navy for seven years, Carter worked on the development of the nuclear submarine program and rose to the rank of lieutenant. When his father died in 1953, Carter resigned his commission to return to his family’s peanut-farming business.
In 1962, he was elected to the Georgia Senate and in 1970 was elected governor, having lost his first bid in 1966. His work to end racial discrimination in the state made him a symbol of the “New South.”
At the start of his campaign for the presidency, Carter was not widely known outside of Georgia and was viewed by analysts as a long shot for the Democratic nomination. He began traveling the country before many other candidates had started their campaigns, pitching his outsider status to voters who had endured the revelations of Watergate and Nixon’s resignation.
Carter emphasized his religious upbringing — he was a Southern Baptist who often described himself as a “born again” Christian — and promised the American people that he would never lie to them. He won the New Hampshire primary, proving his viability in the North, and defeated Alabama Governor George Wallace in Florida to establish himself as the strongest candidate in the South, on the way to clinching the Democratic nomination.
With Minnesota Democrat Walter Mondale as his running mate, Carter narrowly beat Ford, with 50.1% of the vote, and was sworn into office in January 1977 as the 39th U.S. president. Starting what has become a tradition for new presidents, he stepped out of his limousine during the inauguration parade and walked down Washington’s Pennsylvania Avenue to the White House.
Billy Brew
Carter’s family included colorful characters such as his sister Ruth, a faith healer, and brother Billy, a gas-station operator whose enjoyment of drinking led to the creation of the short-lived Billy Beer brand during his brother’s presidency.
The president’s
“When I look at my children,” she once cracked, “I say, ‘Lillian, you should have stayed a virgin.'”
As president, Carter signed legislation creating the cabinet-level Department of Education. He appointed women, Black people and Hispanic people to federal posts in large numbers. He stunned the defense contracting industry by killing the Air Force’s expensive
Carter won praise after his presidency for the steps he had taken toward deregulation, particularly of the airline industry, where the removal of government control of fares and routes promoted competition.
One of his longest battles with Congress involved his proposal to scrap 18 dam and irrigation projects, most of them in the West and South. His “hit list” pleased many environmentalists while angering Westerners, including some fellow Democrats. Congress restored funding for most of the projects.
From his presidency’s earliest days, Carter sought to highlight and utilize energy shortages to raise support for his domestic agenda. The cabinet-level Department of Energy was created in his administration’s first year, and he had solar panels
At Camp David, the presidential retreat in Maryland, Carter guided Egyptian President Anwar Sadat and Israeli Prime Minister Menachem Begin to the 1978 accord that led the next year to the first peace treaty between Israel and an Arab country. The treaty committed Israel to remove its troops and civilian settlements from the Sinai Peninsula and led to billions of dollars in U.S. aid to Israel and Egypt.
The Camp David breakthrough didn’t lead to a broader Mideast peace, however, and Carter through the years didn’t hide his disappointment. In Palestine: Peace, Not Apartheid, he focused on Israel’s occupation of Arab land as the root cause of continued hostilities.
In a 2010 book based on his White House diaries, Carter said the U.S. had “defaulted in carrying out one unchallenged and unique responsibility: mediating a peace agreement between Israel and its neighbors.”
Olympics boycott
In response to the Soviet Union’s invasion of Afghanistan in December 1979, Carter imposed a trade embargo and organized the boycott of the 1980 Summer Olympic Games in Moscow. Rosalynn Carter said she tried and failed to persuade her husband to wait until after the Iowa presidential caucuses of 1980 to impose the embargo, which hurt U.S. farmers.
“I am much more political than Jimmy and was more concerned about popularity and winning reelection,” Rosalynn wrote in her 1984 memoir, “but I have to say that he had the courage to tackle the important issues, no matter how controversial — or politically damaging — they might be.”
The biggest external crisis of his presidency was precipitated by the Islamic Revolution in Iran that overthrew the shah and installed a theocratic government headed by formerly exiled cleric Ayatollah Ruhollah Khomeini.
On Nov. 4, 1979, radical students overran the U.S. Embassy in Tehran and took more than 60 Americans hostage. Fifty-two of them were held for the last 444 days of Carter’s term.
In April 1980, Carter gave the go-ahead for a military assault on the embassy to rescue the hostages. Of the eight helicopters from the USS Nimitz that headed to a desert staging area, from which the raid on Tehran was to commence, three had problems. The mission was aborted, and during preparations for retreat, a helicopter flew into a C-130 transport plane and exploded. Eight American servicemen died.
Stymied by crisis on the domestic and foreign fronts, Carter lost his bid for reelection in a landslide, with Reagan winning 44 states. The hostages were released on Jan. 20, 1981, the day Reagan was sworn into office.
One more helicopter
“Over the years, in various classrooms and public forums, I have often been asked if there was one substantive action or decision I made as president that I would have changed,” Carter wrote in White House Diary. “Somewhat facetiously, I have answered, ‘I would have sent one more helicopter to ensure the success of the hostage rescue effort in April 1980.’ But I truly believe that if I had done so, I would have been reelected.”
The Carters returned to Plains after leaving the White House, and Carter taught scripture at the Maranatha Baptist Church as recently as 2020.
In his brimming post-presidency, Carter helped arrange peace talks between North and South Korea and a cease-fire in Bosnia. Through the Carter Center, he helped monitor elections around the world to help ensure that they were fair. He traveled to Haiti in 1994 to negotiate the restoration of constitutional government, averting a threatened U.S.-led invasion.
Accepting his Nobel Peace Prize in 2002, as the U.S. under President George W. Bush was preparing to invade Iraq, Carter made his disapproval
Carter attended Trump’s inauguration in 2017, the
Trump “has never been involved in politics before,” Carter explained, according to
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Accounting
Trump berates Republicans to ‘Stop talking,’ pass tax cuts
Published
16 hours agoon
May 16, 2025

Al Drago/Bloomberg
President Donald Trump called on members of his party to unite behind his economic agenda in Congress, putting pressure on factions of lawmakers who are calling for last-minute changes to the legislation to drop their demands.
“We don’t need ‘GRANDSTANDERS’ in the Republican Party,” Trump said in a social media post on Friday. “STOP TALKING, AND GET IT DONE! It is time to fix the MESS that Biden and the Democrats gave us. Thank you for your attention to this matter!”
Trump sent the post from Air Force One after departing the Middle East as the House Budget Committee was meeting to approve the legislation, one of the final steps before the bill can move to the House floor for a vote.
House Speaker Mike Johnson has set a goal to pass the bill next week before the House recesses for its Memorial Day break.
However, the the bill
Narrow majorities in the House mean that a small group of Republicans can block the bill. Factions pushing for steeper Medicaid cuts and for an increase to the SALT write-off have both threatened to defeat the bill unless their demands are met.
“No one group gets to decide all this stuff in either direction,” Representative Chip Roy, an ultraconservative Texas Republican advocating for bigger spending cuts, said in a brief interview on Friday. “There are key issues that we think have this budget falling short.”
Trump’s social media muscle and calls to lawmakers have previously been crucial to advancing his priorities and come as competing constituencies have threatened to tank the measure.
But shortly after Trump’s Friday post, Roy and fellow hardliner Ralph Norman of South Carolina appeared unmoved — at least for the moment. Both men urged continued negotiations and significant changes to the bill that could in turn jeopardize support among moderates.
“I’m a hard no until we get this ironed out,” Norman said. “I think we can. We’ve made progress but it just takes time”
Accounting
97% say CPA firms not using tech efficiently says survey
Published
18 hours agoon
May 16, 2025
While CPA firms far and wide have made major technology investments over the years, the vast majority of accountants say they’re not being used to their full potential.
This finding comes from a recent survey undertaken by
“We see employees make workarounds with tech stacks, which makes headaches that I think align with this 43%. We train people on new things, we ask them to use them, and they keep doing what they were doing before and only use the technology as much as they have to [in order to] move things along while you have people well trained on the software keeping up,” she said in a webcast on Thursday about the survey.

Ariege Misherghi—senior vice president and general manager of accounts payable, accounts receivable and the accountant channel—said the issue isn’t just because of firms but also vendors that don’t provide enough support, and may not necessarily understand the profession in the first place.
“Too often I think tools aren’t fully aligned with the workflows they’re meant to support. In SaaS they talk about product-market fit, but in this profession it’s not just that but also product-firm fit, and maybe product-profession fit. Not every tool marketed to accountants was built by people who truly understand how this profession works: the rhythms, the regulations, the stakes, the relationships, all of that. And even the greatest tools can fall short if they’re not implemented with a deep understanding of how firms really operate,” she said.
And sometimes the inefficiencies come from both sides at once: the survey found that only 37% of firms require clients to use their tech stack, something that Munson said “breaks my heart” as “it is so low.” A streamlined, established tech stack is needed to achieve true economies of scale, but to get there firms need to standardize their data, and to do that firms need to make sure their clients’ data is also standardized, which usually means integrated tech stacks.
“If you have all these different clients with all these different technologies, even if your own tech stack is standardized the systems they use is different, so the kind of data you will get will be different, and the work you need to do to make it work with your data is different, and your team spends a lot of time spinning their wheels,” she said. “Once you get standardized, where everything back and forth from clients is the same, you get to see how well the teams can do their work.”
One source of inefficiencies is a rushed implementation. Munson said that, too many times, firms are so eager to get a solution working that they don’t pay attention to all its capacities, just the ones they need right now, but once the basics are down firms still don’t circle back on the rest of the features and how they can be used to drive efficiency.
“Most of us have been through an implementation, either in the practice or with a client, where you’re just like ‘anything to get it working. Forget about all the fancy things it does. We just needed to do the basics right,’ and then we never circle back on those better, more efficient processes. We get to sort of minimal viable, and then we forget to come back and give it an extra polish. And so what we see there is the processes get written for that basic piece, and we never update,” she said.
But this is part of what both speakers believed was the larger problem of firms getting lost in the details of their tech stacks and not taking a broader, more holistic approach, which would enable more efficiencies. The key component to managing technology effectively, Munson said, is looking not at individual solutions here and there but thinking of the system as a whole.
“Often, what happens is something’s wrong or something is troublesome in some way. And so [we say] what can we do to fix that one thing? And we don’t think about it holistically and get all the right folks in there so that we’re solving for the right pain points,” she said.
Misherghi agreed, and added that this holistic extends not only to the technology a firm already has but the solutions they plan to purchase in the future. When evaluating what technology they need, she said leaders need to think not in terms of specific point solutions to particular problems but things that can support the entire workflow—plus, the onboarding, training and ongoing support from the vendor.
“Don’t just look for features, right? Look for solutions that support your workflows from providers that understand you. For firms, onboarding and training and optimization can’t be an afterthought. They’re essential to realizing value. I think this is where vendor partnerships matter. Firms seeking the strongest results aren’t just using software, they’re collaborating with their providers, they’re staying educated, they’re making sure their tools evolve alongside their needs. The best outcomes happen when your technology partner acts like part of your team, not just part of your toolkit,” she said.
Misherghi said that the more successful firms she’s seen think less in terms of performing particular tasks but designing an entire system that, through automation, can do those tasks for them. It is less about plugging holes and more about developing a full infrastructure. The survey found that 74% of participants have a detailed plan to add new services in the next 12 month; Misherghi noted that, among these firms, 86% have a detailed technology roadmap, which is “a wonderful mark on the evolution of the profession we’re seeing.”
She said a good tech roadmap is more like a service design blueprint versus a shopping list. Successful firms, she said, are not just chasing features but designing intentional workflows and systems capable of scalable service delivery. Similarly, she stressed that the provider should be more than just a vendor but a strategic co-architect that can help with growing pains.
Misherghi said this approach will become especially relevant as AI becomes more common, as integrations will be key to their effective use, which means thinking in terms of the whole system to understand where those integrations should take place. Right now, she said, people think of AI in terms of analyzing data or extracting fields, but with the rise of AI agents will require firms to focus more on coordinating between them.
“I think the next big leap is when those systems don’t just talk to each other, they act on each other’s behalf. I think the next big inflection point will be moving from automated steps to autonomous workflows, where AI agents aren’t just analyzing data or extracting fields but actually orchestrating tasks across tools based on firm policies and context and that will change the role of the accounting profession: its less time doing the work and more time designing the system for how everything works together. So the firms that will be thriving are those who are building strong infrastructure now because that is what AI needs to deliver on its core value,” she said.

A key House committee on Friday failed to advance House Republicans’ massive tax-and-spending bill after hard-line conservatives bucked President Donald Trump and blocked the bill over cost concerns.
The House Budget Committee rejected
It’s incredibly rare for bills to fail at this step in the process, with the committee vote typically serving as a rubber-stamp to the bill before it moves to the House floor.

Stefani Reynolds/Photographer: Stefani Reynolds/B
The setback could be temporary and the panel can still approve the bill once the GOP differences are resolved.
Republican Lloyd Smucker, who switched his vote to “no” to allow the committee to bring it up again, told reporters the committee will hold another vote on Monday.
Trump, whose social media muscle and calls to lawmakers have previously been crucial to advancing his priorities, inserted himself in the debate less than two hours before the vote, berating dissidents and urging them to fall into line.
“We don’t need ‘GRANDSTANDERS’ in the Republican Party,” Trump said in a social media post on Friday. “STOP TALKING, AND GET IT DONE! It is time to fix the MESS that Biden and the Democrats gave us. Thank you for your attention to this matter!”
The bill’s failure exposes the power a small group of lawmakers can wield as Republicans seek to push Trump’s “one big, beautiful bill” through the House with very narrow margins. GOP infighting threatens to kill the bill, or at least significantly delay Republicans’ plans to pass the bill next week.
(Read more: “
Republican holdouts spelled out their demands during Friday’s committee meeting, including accelerating new work requirements for able-bodied adults on Medicaid to take effect immediately rather the 2029 deadline set in the legislation. The ultraconservatives also want a faster phase-out of clean energy tax credits.
It wasn’t immediately clear how House Republicans will re-group to address the divisions and advance the bill.
“I’ll let you know this weekend if we’re going to return first thing Monday. That’s the goal at this point,” Budget Chairman Jodey Arrington said after the vote.
House Majority Leader Steve Scalise, who is helping to broker a deal among Republicans, said party leaders are in touch with the Trump administration to address some of the changes demanded by hardliners.
“We are all in agreement on the reforms we want to make,” Scalise said. “We want to have work requirements. We want to phase out a lot of these green subsidies. How quickly can you get it done?”
House Speaker Mike Johnson on Thursday pledged he would work through the weekend to broker a compromise between moderates, who are seeking an increase in state and local tax deductions, and ultra-conservatives, who say they won’t support it without more spending cuts.
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Members from both factions — the SALT Republicans representing high-tax districts and the fiscal hawks who want steeper budget reductions — have threatened to block the bill if House leaders don’t acquiesce to their demands.
“No one group gets to decide all this stuff in either direction,” Roy, an ultraconservative Texas Republican advocating for bigger spending cuts, said in a brief interview on Friday. “There are key issues that we think have this budget falling short.”
Both Roy and Norman urged continued negotiations and significant changes to the bill that could in turn jeopardize support among moderates.
“I’m a hard no until we get this ironed out,” Norman said. “I think we can. We’ve made progress but it just takes time.”
If the legislation passes the House, it would then head to the Senate where it would likely undergo significant changes. Several members, including Senator Josh Hawley of Missouri, have stated opposition to the Medicaid cuts in the House bill.

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