🗞️Trump's $163 billion budget cuts

...plus Microsoft and Musk team up and the U.S. economy adds jobs

May 02, 2025

May 2nd, 2025

What happened today 🇺🇸,

Trump proposes steep cuts in first budget request of second term

President Trump unveiled the White House budget request for fiscal 2026 on Friday, a set of proposals that would make steep cuts to nondefense programs while boosting defense and border funding. In…

thehill.com/homenews/administration/5279446-trump-proposes-steep-cuts-in-first-budget-request-of-second-term/amp

  • President Trump outlined his 2026 budget proposal, which would cut domestic spending by about 22% and increase defense spending by 13%…ultimately leading to cutting $163 billion in Federal spending

  • President Trump has signed an executive order to end taxpayer funding of NPR and PBS

  • Stephen Miller, Trump’s deputy chief of staff and longtime aide, is reportedly the frontrunner to become the next National Security Adviser

  • Microsoft is getting ready to host Musk's Grok AI model on its AI infrastructure

  • 55% of Americans are less likely to make a major purchase this year due to tariffs, per Redfin

  • Temu, the cheap Chinese retailer, has announced that they are halting all direct shipping from China due to the ongoing tariff situation

  • The U.S. economy added 177,000 jobs in April, above expectations of 133,000…the unemployment rate was 4.2%, in-line with expectations

  • S&P 500 has now risen for nine straight days, its longest streak since 2004

  • DOW up 1.39% / S&P up 1.47%

  • The World Health Organization plans to officially back the use of weight-loss drugs to treat obesity in adults for the first time, per Reuters

  • TikTok has been hit with a $600 million fine by European Union regulators after an investigation found TikTok sent the personal data of Europeans to China illegally and wasn’t transparent enough with users

  • Brazilian nun, Sister Inah Canabarro, who was the world’s oldest person has died at age 116

Bonus: An interesting look at in which states Americans visit libraries the most

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