Presumptive Republican presidential nominee Donald Trump opened the door Monday to “cutting” spending under Social Security and Medicare, drawing swift pushback from President Joe Biden and elevating a key policy battle in the 2024 election. Phoning into CNBC’s “Squawk Box,” Trump was pressed on how he plans to resolve the long-term solvency problems of Social … Read more
U.S. President Joe Biden delivers the State of the Union address to a joint session of Congress in the House Chamber of the U.S. Capitol in Washington, U.S., March 7, 2024. Elizabeth Frantz | Reuters President Joe Biden on Saturday signed a $460 billion spending bill into law, averting a partial government shutdown that would … Read more
Missiles on the background of the Chinese flag Anton Petrus | Moment | Getty Images China is set to increase its defense spending by 7.2% to 1.67 trillion yuan in 2024, according to a budget report released by the Ministry of Finance, as part of the country’s annual parliamentary meetings in Beijing. This year’s military … Read more
Germany’s defense minister said on Saturday that his country’s commitment to spend 2% of GDP on defense was just the starting point and that more would likely be needed. Earlier in the day, German Chancellor Olaf Scholz insisted that the 2% spending target would be met “in the 2020s, in the 2030s and beyond.” However, … Read more
German Chancellor, Olaf Scholz arrives for the weekly federal government cabinet meeting on Oct. 11, 2023 in Berlin, Germany. Michele Tantussi | Getty Images News | Getty Images MUNICH, Germany — German Chancellor Olaf Scholz on Saturday reaffirmed Berlin’s commitment to spend 2% of the national gross domestic product (GDP) on defense, this year and … Read more
Customers visit Macy’s Herald Square store on December 17, 2023 in New York City. Kena Betancur | Corbis News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what … Read more
NATO Secretary General Jens Stoltenberg speaks during a press conference on the third day of the International Monetary Fund and World Bank annual meeting, in Marrakech, Morocco, October 11, 2023. Susana Vera | Reuters NATO Secretary-General Jens Stoltenberg conceded to criticism that some members have been underfinancing the coalition’s defense budget, saying he expects a … Read more
Kelsea Ballerini and boyfriend Chase Stokes unfortunately won’t be together on Valentine’s Day. While stepping out for the Michael Kors Fashion Show on Tuesday (February 13), the 30-year-old “Half of My Hometown” singer revealed why she and the 31-year-old Outer Banks actor will apart on the romantic holiday. Keep reading to find out more…“I’m working, … Read more
As conflicts rage in Ukraine and the Middle East, countries around the world are spending more on their militaries. In 2023, total global defense expenditure reached $2.2 trillion, a 9% increase from the previous year, a new report from the think tank International Institute for Strategic Studies revealed on Tuesday. The major drivers of this … Read more
Worldwide military spending surged by 9 percent year-on-year in 2023 to hit a record $2.2 trillion as multiple conflicts ratcheted up global insecurity, according to a new report by the International Institute for Strategic Studies released on Tuesday. The report, IISS’s 65th annual “Military Balance” publication, also estimated that military spending would set another record … Read more