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Mulvaney at the Capitol. Photo: Pete Marovich / Getty Images

White House budget chief Mick Mulvaney said on CBS's Face the Nation Sunday that the tw0-year budget bill — passed by Congress and signed into law by President Trump — is "dangerous" and explodes the deficit. He said he would "probably not" have voted for it as a congressman, but added, "We need more money to defend the nation against things like the threats from the North Koreans."

The backdrop: The government shut down for about 5 hours early Friday morning after Sen. Rand Paul filibustered to delay the vote on the bill over the expansion of the deficit.

Go deeper

Updated 16 mins ago - Politics & Policy

Inauguration Day dashboard

Screenshot: Fox News

President Trump has delivered a farewell speech and departed Washington for the last time on Air Force One, kicking off the day that will culminate with President-elect Joe Biden taking office.

What's next: The inaugural celebration for young Americans is being livestreamed, starting at 10am.

Updated 32 mins ago - Politics & Policy

Trump departs on final Air Force One flight

President Trump and his family took off on Air Force One at 9 a.m. on Wednesday morning for the final time en route to Florida.

The big picture: Trump's final hours as president were punctuated by his decisions to snub his successor's inauguration and grant pardons to many of his allies who have been swept up in corruption scandals.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Janet Yellen said all the right things to reassure the markets

Illustration: Aïda Amer/Axios

Treasury Secretary nominee and former Fed chair Janet Yellen's confirmation hearing before the Senate Finance Committee on Tuesday showed markets just what they can expect from the administration of President-elect Joe Biden: more of what they got under President Trump — at least for now.

What it means: Investors and big companies reaped the benefits of ultralow U.S. interest rates and low taxes for most of Trump's term as well as significant increases in government spending, even before the coronavirus pandemic.

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