The Treasury chief says the fiscal imbalance reflects historic overspending, while touting the Trump administration’s tax and trade agenda. Treasury Secretary Scott Bessent told lawmakers Wednesday that the U.S. budget deficit for the current fiscal year will reach between 6.5 and 6.7 percent of gross domestic product (GDP), a historically high level he attributed to
Rep. Jim Clyburn reflects on legacy of Elijah Cummings – CBS News Watch CBS News Representative Elijah Cummings, Maryland congressman and civil rights champion, died at the age of 68 Thursday due to complications from long-standing health issues. House Majority Whip Jim Clyburn, D-South Carolina, spoke to CBS News on Friday about the enduring legacy
CBS News gains access to Turkish-controlled Syria – CBS News Watch CBS News CBS News got an exclusive view from inside Syria. Holly Williams was granted access to Turkish troops as they crossed the border into an area once controlled by America’s Kurdish allies. View CBS News In Be the first to know Get browser
The Environmental Protection Agency announced Wednesday that it will seek to revoke a key rule put in place by the Biden administration that set limits on the amount of carbon dioxide, a major greenhouse gas that contributes to climate change, emitted from fossil fuel-fired power plants. The rule was finalized in April 2024 and is
John Bolton asked to testify in impeachment inquiry – CBS News Watch CBS News House investigators have asked President Trump’s former national security adviser to testify in the impeachment inquiry. John Bolton was openly troubled by the president’s approach to Ukraine and has since left the administration. Nancy Cordes reports. View CBS News In Be
Pentagon releases images from al-Baghdadi raid – CBS News Watch CBS News Top U.S. military officials released new images from the raid that resulted in the death of ISIS leader Abu Bakr al-Baghdadi. He took his own life as U.S. special forces units closed in on him in Syria. Chip Reid has the latest. View
The Republicans’ “big beautiful” budget package is uniting everyone from Elon Musk to Wall Street over an issue that experts say could pose a threat to the nation’s long-term fiscal stability: the rising cost of servicing the U.S. government’s growing mountain of debt. The U.S. spent $1.1 trillion in interest on its debt in 2024 —