A day after President Trump introduced his fiscal budget proposal, with plans to pull $7.2 billion from the Pentagon's coffers to fund the border wall, the U.S. Army Secretary says he supports the mission.
Sec. Ryan McCarthy, a former Army Ranger and Lockheed Martin executive, told Cheddar in an interview on Tuesday that "the border wall is a national security issue." McCarthy said the increased presence of soldiers on the border, along with the newly constructed parts of the wall, have already led to a drop in illegal crossings.
While crossings have dropped substantially since last spring, some critics claim it has more to do with the White House all but cutting off asylum applications in the U.S. So far, according to the CBP's own figures, the vast majority of the wall that has been constructed under the Trump administration was replacement of existing structures.
The administration's budget ー a document that will be dead on arrival in Congress but signals the president's priorities if he were to be reelectedー includes cuts to the Army's top line, though it does substantially increase R&D spending at the Pentagon that will presumably be used to help restructure and modernize the armed forces.
"The Army is in the midst of a major transformation over the last three years," McCarthy said. One of the goals of that modernization is to improve recruitment with a plan to aggressively increase talent drives in 22 major cities. "It's been a challenge," McCarthy conceded, acknowledging that the tight labor market has made the Army's job harder in getting top candidates to sign up.
One of the ways to encourage job-seekers to consider military service, he said, is to highlight the "variety of career paths" available and the Army's generous tuition assistance perks.
"We have to be ready to meet national objectives every moment of every day," he said.
Student loan collection company Navient agreed to cancel $1.7 billion in debt and paid more than $140 million in other penalties to settle a lawsuit over abusive lending practices. Josh Shapiro, the attorney general of Pennsylvania who led negotiations in the settlement, joined Cheddar to go over the details of the company's predatory lending. "What Navient would do is charge [borrowers] these exorbitantly high rates, even though they knew people couldn't pay them or they would likely default on them," he explained.
The January 6 committee has subpoenaed four tech giants for more information on what they did and didn't do leading up to last year's deadly Capitol insurrection. Google, Facebook, Twitter, and Reddit were asked to assist the investigation in August, but the committee says their responses have been 'inadequate.' Craig Timberg, a national technology reporter at the Washington Post, joins Cheddar News' Closing Bell for more details about the subpoenas, why this is happening now, and how it might impact social media companies moving forward.
With the Australian Open set to begin on Monday, Novak Djokovic is once again being threatened with deportation from Australia after his visa was briefly reinstated and revoked again over alleged discrepancies. Djokovic’s team will sit for an Immigration hearing on Saturday.
Makena Kelly, politics reporter at The Verge, joins Cheddar News to discuss what's next for net neutrality as Biden's other nominee for the FCC, Gigi Sohn, awaits votes from the committee and Senate.
Jewell Jackson McCabe, chair of the Keep Love Alive Campaign and founder of the National Coalition of 100 Black Women, and Marvin Owens, chief engagement officer of Impact Shares and former senior director of Economic Development at the NAACP, join Cheddar News to reflect on racial issues still prevalent in America.
Hagar Chemali, Host of 'Oh My World' on Youtube and Former Spokesperson for the U.S. mission to the UN, joined Wake Up With Cheddar to share her expert insight into what the future of diplomacy could look like as the Russia-Ukraine crisis deepens.
Markets opened higher on the first trading day of the new year as investors continue to watch inflation and the rapid spread of the omicron variant in the U.S. Frances Newton Stacy, Optimal Capital Dir. of Strategy/Market Analyst joined Cheddar's Opening Bell to discuss.
Markets opened lower this morning as investors rounded out a wild 2021. Jay Hatfield, CEO Infrastructure Capital Advisors, joined Cheddar's Opening Bell to discuss which sectors and industries to watch in the new year.
Markets opened higher as investors react to positive data on the labor front, with weekly jobless claims falling to 198,000 for the week ending December 25. Ross Mayfield, investment strategy analyst at Baird joined Cheddar's Opening Bell to discuss the market open.
