Spending

How are Americans prioritizing spending amid rising costs?

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Consumers are cutting back on goods with sharp price increases, according to the Bureau of Economic Analysis. From December to February, spending on clothing fell 7%, spending on furniture fell 5% and spending on sports equipment fell 6%. The Wall Street Journal economics reporter Rachel Wolfe writes in her recent piece that recent inflation is … Read more

Big Tech earnings test record stock market rally as AI spending takes center stage

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Market watchers looking for clarity about the direction of Big Tech and the AI investment boom didn’t get much Wednesday afternoon amid a barrage of key earning reports. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content. Instead, four leading tech companies reported quarterly results that beat Wall Street’s … Read more

Congress presses Hegseth on Iran war justification, spending, and conduct

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When President Donald Trump initiated strikes against Iran in late February, he did so without explicit backing from Congress, which holds the constitutional authority to declare war. Since then, members have argued over whether Mr. Trump illegally bypassed them. Now, even some Republicans are showing unease about the length and cost of the war, just … Read more

Meta beats revenue expectations, boosts capital spending forecast for 2026

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Meta Platforms Inc. reports strong first-quarter results, surpassing expectations with significant earnings growth, but the stock slipped in after-hours trading Instagram and Facebook parent Meta Platforms Inc. posted results Wednesday for the first quarter that exceeded expectations, showing growth in earnings, but the social media giant also increased its forecasted capital expenditures for the year. … Read more

Drones, missiles, battleships: What’s in Trump’s $1.5 trillion defense spending ask

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The Trump administration is hoping to spend $1.5 trillion on defense next year. That’s roughly 42% more than the United States, by far the world’s most expensive military, spends now. That’s also getting close to 5% of U.S. gross domestic product. The last time the defense budget was significantly higher as a percentage of gross … Read more

US military pushes for boost in 2027 spending on drones and air defenses used in Iran war

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WASHINGTON — U.S. military officials on Tuesday called for spending tens of billions of dollars in the next budget year on drones, air defense systems and fighter jets that have been a key part of fighting the Iran war. As part of President Donald Trump’s push to boost defense spending to $1.5 trillion in the … Read more

Republicans plan big spending to keep Ohio’s Senate seat. A bribery scandal adds to their challenges

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COLUMBUS, Ohio — As he seeks to retain his U.S. Senate seat this fall, Ohio Republican Jon Husted has been unable to escape the shadow of a $60 million bribery scandal that has roiled state politics for more than five years. Husted was recently called to testify as a defense witness in the related criminal … Read more

Here’s who is spending money on AI subscriptions, and how much they cost

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Spending on AI subscriptions is starting to become a part of some households’ budgets as users choose to upgrade to more powerful versions of publicly available generative AI tools, like OpenAI’s ChatGPT. The share of U.S. households that now pays for a generative AI subscription is up roughly 155% compared to last year, according to new … Read more