Mar 28, 2018

Trump wants the Pentagon to fund his border wall

Photo: Michael Reynolds, Pool / Getty Images

In a meeting last Wednesday in the White House residence, President Trump told Speaker Ryan that the U.S. military should pay for his border wall, the WashPost's Josh Dawsey and Mike DeBonis report and a source familiar confirms to Axios.

Why it's happening: "Trump has told advisers that he was spurned in a large spending bill last week when lawmakers appropriated only $1.6 billion for the border wall."

  • "Ryan offered little ­reaction to the idea ... [S]enior Capitol Hill officials later said it was an unlikely prospect."
  • "He has suggested to Defense Secretary Jim Mattis ... that the Pentagon could fund the sprawling project, citing a 'national security' risk."

Be smart: Trump has to think of something. Some top alumni of his campaign think that the wall was such a centerpiece promise, it's the one issue the base might desert over. So Trump has to come up with some plausible "wall" by 2020.

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In photos: Protests over George Floyd's death grip Minneapolis

The Third Police Precinct burns in Minneapolis on Thursday night. Photo: Stephen Maturen/Getty Images

Demonstrators demanding justice burned a Minneapolis police station and took control of the streets around it last night, heaving wood onto the flames, kicking down poles with surveillance cameras and torching surrounding stores.

What's happening: The crowd was protesting the death of George Floyd, an unarmed black man whose life was snuffed out Tuesday by a white Minneapolis police officer who kneeled on his neck for about eight minutes.

48 mins ago - Sports

European soccer's push to return

A Bundesliga match between Borussia Dortmund and Bayern Munchen in an empty stadium. Photo: Alexandre Simoes/Borussia Dortmund via Getty Images

European soccer made a splash Thursday, with two of its biggest leagues announcing official return-to-play dates in June.

Why it matters: Soccer is the world's most popular sport, so watching its return through the lens of various leagues, countries and cultures — all of which have been uniquely impacted by the coronavirus pandemic — is illuminating.

The corporate bankruptcy wave has just gotten started

Illustration: Sarah Grillo/Axios

Even with trillions of dollars in loans, grants and government support — with markets having absorbed a record $1.22 trillion of corporate debt in just five months — a slew of companies are defaulting on their loans and filing for bankruptcy in what is expected to be a record wave of insolvencies and defaults.

Why it matters: While equity and debt markets have rallied thanks to massive interventions from the Federal Reserve and Congress and excitement about the removal of lockdown orders, the real economy is quietly buckling, with many companies threatened by issues that predate the coronavirus pandemic.