About this episode Stay informed and cut through the noise with our daily briefing of the top 10 most consequential US headlines. This podcast delivers concise, impactful analysis, ensuring you understand the core issues and their implications without any unnecessary filler. Get the critical insights you need to navigate the day's news with clarity and confidence.
0:00 the us federal government ended its fiscal year with a budget deficit of $1,992,000,000,000 that is the third largest shortfall in the nation's history and it comes as the cost to service that debt hit a record $1,360,000,000,000 in our last briefing we promised to track the news that actually shapes the country these numbers are now shaping everything here0:23 are the other key developments this hour from the white house two significant policy president trump is signaling a retreat from a proposed sales ban on canadian jet maker bombardier citing the importance of jobs at its facility in wichita kansas at the same time an executive order issued friday night waived some sanctions on russian energy exports a move0:44 aimed at lowering prices at the pump oil futures fell on the news the waiver itself is confirmed however the president said saturday he has not made a final decision and secretary of state marco rubio said officials want more time to evaluate in a san francisco courtroom a case with national security implications is unfolding a former openai engineer1:04 abdul rahman alphazan has been ordered held without bail he's accused of planting a recording device inside the company prosecutors argued he is a flight risk noting he bought a one way ticket to riyadh and maintained frequent contact with a member of the saudi royal family the government's investigation is ongoing and they say it may result in additional1:23 serious charges and on the industrial front chipmaker micron is making a major investment in the us it's funding new critical mineral processing capacity right here at home the goal is to build a more resilient and secure domestic supply chain for semiconductors reducing dependence on global markets for the high purity materials essential for advanced chip manufacturing i am1:44 standing in a country with a $2,000,000,000,000 hole in its budget here is what i can actually see i see the numbers and i see what's happening elsewhere right now in france streets are burning i've covered riots like these they're protesting inflation and a national debt that sits at 119% of their economy their budget deficit the one sparking2:05 this anger is 5.4% of gdp the us deficit just confirmed is 6.2% of gdp our debt held by the public just crossed 100% now the us has stronger growth and lower unemployment that's the firewall but the parallels are unsettling in paris you see looted stores and curfews in washington the warnings are quieter but just as clear they're2:29 coming from the bond market the interest rate on thirty year government debt recently hit levels not seen since 2002 that is the market's way of saying it's getting nervous2:40 and it's not just debt the source of the unrest in france is a feeling that the economy isn't working for ordinary people here tech investment drives about a third of our economic growth yet a new bentley gallup poll shows a growing number of americans especially young people believe ai will cut jobs and do more harm than good2:58 you have a government spending far more than it takes in and a public growing wary of the very industry propping up the economy the french interior minister admitted police lost control here the debate is whether fiscal control has been lost already that is the picture from here back to you in the studio
