President Trump lambastes Twitter, Google and other technology giants for what he claims as their efforts to stifle him.US Economyread more
JP Morgan's Jamie Dimon says student lending "is a disgrace and it's hurting America."Economyread more
Mnuchin tells CNBC he's confident President Trump and China's Xi Jinping can make progress in stalled trade talks.World Economyread more
The first debates will give most of the contenders their biggest platform yet to present themselves to the American people.Politicsread more
Underneath the impressive market rally is a trend that doesn't seem quite right, according to J.P. Morgan.Marketsread more
The stock market is shrinking for several key reasons, but there's a way for investors to maneuver it, says Citi Research strategist Robert Buckland.Trading Nationread more
The Supreme Court refused to overturn a precedent that strengthened the power of government regulators in a closely watched case that could have had broad ramifications for...Politicsread more
Apple made Comcast and Charter agree to sell iPads, Apple TVs and other lower-volume devices as part of the cable companies' deal to offer the iPhone on their mobile service.Technologyread more
President Trump says "I hope we don't" have a war with Iran but it "would not last very long."Politicsread more
Stocks rose on Wednesday as comments from Treasury Secretary Steven Mnuchin lifted expectations of a potential trade deal between China and the U.S.Marketsread more
Presidents Donald Trump and Xi Jinping are scheduled to meet Saturday, the second day of the two-day G-20 summit in Osaka, Japan.Politicsread more
WASHINGTON — President Donald Trump on Friday declared a national emergency to gain access to roughly $8 billion to fund a border wall.
Before Trump's announcement in the Rose Garden, a senior administration official explained that the money will be pulled from the following areas:
The $1.375 billion, which is part of a spending bill passed by Congress, is short of the $5.7 billion that Trump had asked for late last year but didn't get. A fight over the barrier money led to a record-long partial government shutdown that was resolved after 35 days. What's more, the $1.375 billion would specifically not allow construction of new wall prototypes proposed by Trump, and would instead put money toward 55 miles of bollard fencing.
"They say walls don't work. Walls work 100 percent," Trump said Friday from the Rose Garden.
"We fight wars that are 6,000 miles away, wars that we never should have been in. But we don't control our own border. So we are going to confront the national security crisis on our southern border, and we're going to do it one way or the other. We have to do it," Trump said.
Trump also said that if there was a physical barrier at the southern border, "we'd save tremendous, just a tremendous amount on, would be sending the military. If we had a wall we don't need the military, cause we'd have a wall!"
The Pentagon announced earlier this month that it would send a deployment of about 3,750 troops to the U.S. border with Mexico. The additional troops will bring the total number of forces supporting the border mission to approximately 4,350, according to estimates provided by the Department of Defense.
The troop deployment, which was approved by acting Defense Secretary Patrick Shanahan on Jan. 11, will last for 90 days. The border mission includes mobile surveillance capability as well as the emplacement of approximately 150 miles of concertina wire between ports of entry.
A congressional aide, who spoke on condition of anonymity, said Trump can divert roughly $21 billion in military construction funds that aren't already obligated for use on border projects. Some of the $21 billion will be taken from the "wartime funds" account, which is known as the overseas contingency operations, or OCO.
"[The president] is free to spend without a vote from Congress," the aide said of the immediately available $21 billion. "He has to notify Congress of what he's done but he doesn't have to come to Congress to do it."