
How the Ukraine crisis is already hitting Americans' wallets
CBSN
Although many Americans may prefer that the U.S. stay out of the conflict between Russia and Ukraine, the brewing violence and political fallout are already hurting their wallets. Gasoline prices, which have hit eight-year highs — could surge even further if the hostilities escalate or if U.S. lawmakers pass another round of sanctions.
The economic impact could also move beyond the gas pump, Wall Street analysts warn. Sanctions or export controls against Russia could make current semiconductor shortages even worse, while restrictions on wheat or metals could drive the fiercest bout of inflation in decades to climb even higher.

Washington — A federal judge on Thursday allowed President Trump's efforts to shrink the federal workforce to continue moving forward while legal proceedings continue, declining a request from a group of labor unions to temporarily block his firing of federal employees and other actions targeting government workers.

President Trump on Wednesday said he's considering using 20% of the savings from Elon Musk's cost-cutting task force, the Department of Government Efficiency, or DOGE, to provide direct payments to taxpayers. But economists and policy experts across the political spectrum expressed skepticism about the feasibility of such a "DOGE dividend."

How Clinton's "reinventing government" compares to DOGE's approach: "We cut fat and they cut muscle"
As President Trump and Elon Musk's Department of Government Efficiency push to slash spending, Republican allies have pointed to a White House program from 30 years ago as akin to DOGE's efforts.

Defense Secretary Pete Hegseth has directed the Pentagon to come up with plans to cut 8% from the defense budget in each of the next five years, according to sources familiar with his plans. The Defense Departmen expects to redirect those fund to other programs in the department that would be prioritized by President Trump.