Defense Secretary Pete Hegseth and Gen. Dan Caine, chairman of the Joint Chiefs of Staff, are testifying before the House Armed Services Committee on Wednesday. CBS News contributor Elliot Ackerman has the latest. Source link
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
U.S. utility companies are planning to invest $1.4 trillion over the next five years to help strengthen the nation’s power grid, according to a new report released Tuesday by the nonpartisan nonprofit consumer education organization PowerLines. CBS News MoneyWatch reporter Megan Cerullo has more details. Source link
U.S. utility companies are planning to invest $1.4 trillion over the next five years to update the nation’s ailing power grid as the data center boom intensifies the need for electricity. That’s according to a new report released Tuesday by the nonpartisan nonprofit consumer education organization PowerLines, which analyzed capital spending plans from 51 investor-owned utilities. A … Read more
Washington — President Trump’s budget proposal for fiscal year 2027 asks Congress for $1.5 trillion in defense spending — a 42% increase — while cutting nondefense spending by $73 billion, or 10%. The White House released the 92-page budget request on Friday, accompanied by several summaries of the administration’s key priorities across the executive branch. The … Read more
Value of family caregiving surpasses $1 trillion annually, new AARP report finds – CBS News Watch CBS News A new AARP report suggests that the economic value of family caregiving in the U.S. has surpassed $1 trillion annually. AARP CEO Dr. Myechia Minter-Jordan joins CBS News to discuss. Source link
WASHINGTON — The national debt surpassed a record $39 trillion on Wednesday, a milestone that comes just weeks into the U.S.-Israeli war in Iran. The unprecedented figure highlights competing administration priorities, from passing a massive tax law and boosting defense spending and immigration enforcement to chipping away at the debt itself — the latter of … Read more