Why everyone from Musk to Wall Street is worried about U.S. debt payments
The federal government now spends more on servicing its debt than it does on defense. The GOP's new tax bill could ratchet that higher, experts say.
United States Department of the Treasury
Will famous penny sayings outlast the coin itself?
The Treasury Department said it plans to stop manufacturing the penny, calling time on one of the first coins minted by the U.S. government. "CBS Evening News" co-anchor Maurice DuBois takes a look at the wisdom inspired by the centuries-old coin.
Treasury Department set to phase out the penny
The Treasury Department said it placed its final order for penny blanks this month as the U.S. moves to end production of the 1-cent coin.
Target reports weaker sales
Stocks tumbled Wednesday amid concerns the new budget bill in Congress could deepen the U.S. deficit. Earlier in the day, Target reported weaker-than-expected earnings due partly to anxiety about the implications of President Trump's tariffs. Javier David, business editor at the Dallas Morning News, joins "America Decides" with analysis.
Why did treasury yields spike?
Stocks fell across the board on Wednesday with the Dow Jones plummeting more than 800 points. A spike in treasury yields led to the selloff as investors voiced concerns about the GOP spending bill proposed by President Trump. CBS News contributor Javier David breaks it down.
Dow tumbles over 800 points, bond yields spike
The Dow Jones dropped more than 800 points on Wednesday. Paul La Monica, senior writer for Barron's, joins CBS News to examine what's behind the selloff.
Why only the dead can appear on U.S. money
Among the 5,800 bills before Congress, one piece of legislation would create a $250 bill bearing the image of President Trump. At the moment, the law only allows deceased individuals on our money.
U.S. could face default by August if debt ceiling not addressed, Bessent says
The so-called "X-date" marks when the government could run out of borrowing power and face an unprecedented default without action from Congress to address the debt limit.
Report: IRS down almost a third of its workers
A new watchdog report from the Treasury Department reveals the Internal Revenue Service has lost almost a third of its tax auditors. The cuts are a result of the Trump administration's efforts to trim the federal workforce through its Department of Government Efficiency, or DOGE. CBS News MoneyWatch associate managing editor Aimee Picchi has more.
Federal spending in Trump's first 100 days
Despite President Trump's promises to cut government spending, the Treasury Department's daily financial reports reveal that the U.S. has spent about $220 billion more in Mr. Trump's first 100 days than during the same period in 2024. CBS News vice president of data journalism John Kelly breaks down the numbers.
Bond market signals tariffs' economic impact
While U.S. stocks ended Friday on a high note following a week of volatile trading tied to President Trump's tariffs, the bond market likely pushed the president to implement a 90-day pause. Bill Cohan, Wall Street author for Puck, joins "America Decides" to explain.
Hunter Biden IRS whistleblowers get promoted
Two Internal Revenue Service whistleblowers who accused the Justice Department of providing Hunter Biden with special treatment are getting new jobs at the Treasury Department. Treasury Secretary Scott Bessent says they will now "investigate the wrongdoing that's going on at the IRS." CBS News investigative producer Michael Kaplan joins "America Decides" to discuss.
Bessent "not concerned" about market tumble
Treasury Secretary Scott Bessent is trying to reassure the public about the state of the economy amid recent market struggles following President Trump's tariff threats. David Wessel, Brookings senior fellow in economic studies, and Sarah McGregor, Bloomberg News national desk managing editor, join CBS News with analysis.
White House hosts first cryptocurrency summit
Leaders from the cryptocurrency industry gathered at the White House on Friday for its first-ever "digital assets" summit. Victoria Guida, economics correspondent for Politico, joins "America Decides" to examine why President Trump is focusing on bolstering Bitcoin.
New Jersey AG on pushing back against DOGE
A federal judge has temporarily barred Elon Musk and his Department of Government Efficiency from retrieving sensitive Treasury Department records. Attorneys general in 19 Democratic-led states sought the block, accusing the Trump administration of violating federal law. New Jersey Attorney General Matt Platkin joins "America Decides" to unpack the legal action.
Breaking down DOGE hearing
A federal judge extended the temporary restraining order barring Elon Musk's Department of Government Efficiency, known as DOGE, from accessing Treasury Department records containing the personal data of millions of Americans. CBS News political reporter and attorney Katrina Kaufman has more.
Trump's plan to scrap the penny spikes interest for coin collectors
Collectors said the value of certain pennies could rise if the U.S. Treasury stopped manufacturing the coin.
Trump directs Treasury to stop minting new pennies, citing cost
The U.S. Mint reported losing $85.3 million in the 2024 fiscal year that ended in September on the nearly 3.2 billion pennies it produced.
Former Treasury worker raises alarm on DOGE access
Elon Musk's access to the Treasury's payment system is raising concerns about federal funding and personal data. Major Garrett speaks to a former Treasury employee about the role of the agency and the sensitive data it handles.
DOGE blocked from accessing Treasury records after lawsuit
New York Attorney General Letitia James said "this level of access for unauthorized individuals is unlawful, unprecedented, and unacceptable."
Inside Elon Musk's government takeover
A tech-focused media outlet has become a premiere source for breaking news on Elon Musk, his inner circle and their efforts to reshape the federal government. Katie Drummond, global editorial director of Wired, joins "America Decides" to unpack the reporting.
Treasury data accessed by DOGE: What we know
President Trump has placed the Department of Government Efficiency in charge of cutting the size and spending of the federal government. However, the group's reach is prompting concerns over the access it has received to some of the most confidential information for millions of Americans. CBS News chief Washington correspondent Major Garrett spoke with a former Treasury Department official about the scope of the information DOGE can now access.
Sen. Chris Van Hollen on Trump's "buyout" offer
A federal judge on Thursday implemented a short-term delay in the deadline for federal workers to take a deferred resignation. Plus, Democrats led a filibuster on the Senate floor against Russell Vought, President Trump's nominee to lead the Office of Management and Budget. Democratic Sen. Chris Van Hollen of Maryland joins "America Decides" to discuss.
Why a judge paused federal buyout deadline
A federal judge on Thursday temporarily blocked a deadline for federal employees to accept the Trump administration's "deferred resignation" offer. Plus, several state attorneys general announced a lawsuit against the White House over the Department of Government Efficiency. CBS News' Caitlin Huey-Burns and Ed O'Keefe have the latest.
Trump faces pushback over Gaza proposal
Arab nations are rejecting President Trump's plan for the U.S. to take over Gaza and turn it into a "riviera," but the president is reiterating his position. Plus, Democrats are raising concerns over Elon Musk's DOGE reviewing the Treasury's payment systems. CBS News' Ed O'Keefe and Caitlin Huey-Burns report.
SpaceX launches first-of-its-kind Starship test flight
Microsoft says it "restored service" after major worldwide outage
New congressman faces sexual harassment allegation
Never bought Nvidia stock? Its slide could still hit your 401(k).
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U.N. watchdog agency pushes for access to key Iran nuclear site
Lutnick agrees to testify as Bessent blames him for chip sales
Top doctor for Congress resigns amid misconduct allegations
Family Dollar to pay $63M after FTC says it overcharged customers
