Photo: Mandel Ngan/AFP/Getty Images

The Trump administration will unveil the top-line figures from its 2020 budget on Monday.

The big picture: Trump's budget won't balance in 10 years, and it uses a controversial Pentagon "slush fund" to give Trump a $750 billion military budget without exceeding the spending caps imposed under a 2011 budget law.

Between the lines: Capitol Hill will promptly reject this budget, as it does every year with every president.

  • Soon after Reuters reported Trump's budget would ask Congress for an extra $8.6 billion to pay for the wall, Democratic leaders Chuck Schumer and Nancy Pelosi said in a joint statement: "Congress refused to fund his wall and he was forced to admit defeat and reopen the government. The same thing will repeat itself if he tries this again. We hope he learned his lesson."

Though symbolic, Trump's budget will show his priorities: boosting military spending, cutting other domestic spending, and making substantial cuts but not addressing Social Security and Medicare reforms that would be needed to take a big chunk out of the national debt. It will also include an increase in child care funding — an Ivanka Trump priority.

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Goldman Sachs has agreed with the Department of Justice to pay over $2 billion for the bank's role in Malaysia's multi-billion dollar scandal at state fund 1MDB, Bloomberg first reported.

Why it matters: The settlement, expected to be announced within days, would allow Goldman Sachs to avoid a criminal conviction in the U.S. over the bribery and money laundering scandal that saw three of its former bankers banned for life from the banking industry by the Federal Reserve Board.

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Trump speaks to reporters aboard Air Force One, Oct. 19. Photo: Mandel Ngan/AFP via Getty Images

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Why it matters: Trump has escalated his war on the media in the final stretch of his re-election campaign, calling a Reuters reporter a "criminal" this week for not reporting on corruption allegations about Hunter Biden and disparaging CNN as "dumb b*stards" for the network's ongoing coronavirus coverage.