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Carolyn Kaster / AP

The Department of Health and Human Services budget is officially out (after briefly being posted online yesterday by accident), and it's being slammed by Democrats, medical research groups and public health advocates for its massive spending cuts. Besides the deep reductions to Medicaid and the Children's Health Insurance Program, here are the main ones to know about:

  • HHS discretionary spending: $12.4 billion cut
  • National Institutes of Health: $5.7 billion cutIncludes $1 billion cut to National Cancer Institute
  • Centers for Disease Control and Prevention: $1.3 billion cutIncludes $186 million cut to infectious disease programs
  • Food and Drug Administration: $854 million cutIncludes $1.3 billion increase in user fees
  • Agency for Healthcare Research and Quality: Eliminated, merged into NIH

Reality check: Congress can't push back against all of this — but most of it is pretty unlikely. Top Republican appropriators have already made it clear they're not interested in the NIH cuts, and the Senate and House health care committees are too far along in renewing the FDA user fees to rewrite them now.

Go deeper

A tale of two jobs reports

Source: Bureau of Labor Statistics; Chart: Axios Visuals

Whatever you think about the economy, you’ll find something in this morning’s conflicting jobs report to reinforce your views: America's job market is white-hot and the labor market is anemic.

Between the lines: The conflict comes from the two separate surveys the government uses to compile the report.

Elon Musk's mega-billion bounty

Photo: Patrick Pleul/picture alliance via Getty Images

Here's how insanely rich Elon Musk is: He has unloaded $10 billion of his stock in the past month — and could do that 15+ more times given his silos of shares.

Ina Fried, author of Login
6 hours ago - Technology
Column / Signal Boost

Huawei sanctions snarled chip supply chains

Illustration: Sarah Grillo/Axios

The largely successful U.S. effort to hobble China's Huawei has benefitted a host of other tech companies — from smartphone makers such as Apple and Xiaomi to chipmakers like Qualcomm to network vendors including Nokia and Ericsson.

Yes, but: The massive disruption to the industry furthered an industry wide mismatch between supply and demand, exacerbating the global chip shortage.