Tuesday, May 12 | By Cate Martel
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Inflation jumps 3.8 percent Trump’s disapproval hits whopping 70 percent DOJ targets Iran war leaks with journalist subpoenas Hegseth testifies on $1.5 trillion budget request Kimmel, Fallon, Meyers and Oliver join Colbert’s ‘Late Show’
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Inflation is that uninvited guest that won’t leave: |
LM Otero, Associated Press
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The annual inflation rate shot up to 3.8 percent over the past 12 months — 0.6 percent in April alone — as the war in Iran drove up energy and fuel prices.
What economists had expected: Economists expected the annual rate to be roughly 3.7 percent.
Inflation in March: Annual inflation hit 3.3 percent in March.
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➤ NEW POLLING — AMERICANS ARE ANGRY: |
A new CNN poll shows that 77 percent of Americans think President Trump’s policies have raised their costs of living. That includes a majority of Republicans.
Trump’s approval rating on the economy sank to 30 percent in the poll, the lowest it has ever been.
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➤ HOW TRUMP MAY COMBAT THE RISE IN GASOLINE PRICES: |
The president said he is considering pausing the federal gas tax. The national average for gas has climbed to $4.52 per gallon.
What is the federal gas tax, you ask?: 18.4 cents per gallon for gasoline and 24.4 cents per gallon for diesel.
💬 Follow today’s live blog
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Trump’s next target: Media reports on the Iran war: |
President Trump is furious about the media leaks about the war in Iran, so much so that he personally urged acting Attorney General Todd Blanche to aggressively investigate those leaks by issuing subpoenas to reporters covering the war, according to new reporting from The Wall Street Journal.
What we know: “Blanche vowed to secure subpoenas specifically targeting the records of reporters who have worked on sensitive national security stories, one official said. In one meeting, Trump passed a stack of news articles he and other senior officials thought threatened national security to Blanche with a sticky note on it that said ‘treason,’ another administration official said. Senior Justice Department officials have met with counterparts from the Pentagon to discuss the investigations, according to officials familiar with the meetings.”
The subpoenas include Wall Street Journal reporters.
Blanche just issued a warning to reporters: “Prosecuting leakers who share our nation’s secrets with reporters, in turn risking our national security and the lives of our soldiers, is a priority for this administration,” he wrote on social media. “Any witness, whether a reporter or otherwise, who has information about these criminals should not be surprised if they receive a subpoena about the illegal leaking of classified material.” 🔎 More on Blanche’s warning
Keep in mind: Issuing subpoenas aimed at journalists is *highly unusual.* There are concerns about First Amendment protections.
Read the full reporting: ‘Trump’s Complaints About Iran War Leaks Prompt Aggressive DOJ Investigations’
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➤ WHAT HAS BEEN ON TRUMP’S MIND THIS MORNING: |
President Trump is leaving for Beijing for his high-stakes summit with Chinese President Xi Jinping.
Reads ahead of the summit:
The Atlantic: China Believes America Will Flame Out: Beijing’s geopolitical restraint is all part of a long game.
The Washington Post: As he prepares to meet Xi, Trump no longer pushes for change in China’s system
The Wall Street Journal: Trump Faces an Emboldened China in Return to Beijing
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Let’s talk about the budget: |
Defense Secretary Pete Hegseth is on Capitol Hill today to defend the Pentagon’s $1.5 trillion budget request for 2027.
Hegseth says the reports that the U.S. military’s munition stockpile is depleted are “overstated.”
💻 Watch the hearing
🎥 Watch Hegseth’s arrival
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➤ WHAT IS THE PRICE TAG OF THE IRAN WAR? $29 BILLION AND COUNTING: |
The Pentagon’s acting chief financial officer says the cost of the conflict with Iran is nearing $29 billion. (In House testimony at the end of April, he had quoted the war’s cost at $25 billion.)
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➤ WHERE THE IRAN WAR STANDS: |
The Wall Street Journal put it well: “U.S. and Iran Are Locked in a Stalemate That’s Neither Peace Nor War.”
Essentially: “The cease-fire is entering its second month and, despite sporadic violence, has now lasted almost as long as the fighting which preceded it. There is little to indicate that either the U.S. or Iran is ready to compromise, but neither wants to start fighting again.”
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Google AI: Leading a new era of government innovation |
Google AI is helping government employees accelerate workflows, streamline operations and deliver on your organization’s mission.
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What happens when you put five of the best comedians together in a TV segment: |
“Late Show” host Stephen Colbert hosted fellow late-night hosts Jimmy Kimmel, Jimmy Fallon, Seth Meyers and John Oliver — his “best television friends” — for one of the final episodes before his show’s cancellation. Their banter was unsurprisingly hilarious but was also pointed.
💻 Watch the full segment
Meyers says he likes when Trump posts during his show: “The thing I like, he posts when the show airs,” Meyers said. “If I would make my case for late-night, it’s that leaders of the free world are watching it when it airs.”
🎥 Watch them greet Colbert
When is Colbert’s final show?: May 21
Tidbit — how Kimmel is honoring Colbert’s last show: Kimmel will not air a new episode of “Jimmy Kimmel Live!” on the day of Colbert’s last show, per LateNighter. (Kimmel did the same for David Letterman’s last show in 2015.)
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— The Department of Justice (DOJ) filed criminal charges against the operators of the cargo ship that crashed into the Key Bridge in Maryland more than two years ago. Read more
— Today marks 100 days since Nancy Guthrie’s disappearance.
— Health experts have said not to worry about hantavirus becoming the next pandemic. However, some health experts are now suggesting it may be more contagious than initially thought. Read more
— Singer Rod Stewart praised King Charles III’s visit to the U.S., telling him that he put “that little ratbag in his place.”
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Politico: Why MAHA isn't breaking through on Capitol Hill
Axios: Student loan debt is delaying life milestones for young Americans
The New York Times: How an ‘Impossible’ Idea Led to a Pancreatic Cancer Breakthrough
The Wall Street Journal: Elon Musk’s Grok Is Losing Ground in AI Race
NBC News: Oust me if you can: Britain’s Starmer challenges mutinous party
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The House and Senate are in. President Trump is in Washington, leaving for China later today. (All times EDT)
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Happening now The Hill’s Ian Swanson and Amie Parnes are taking live questions about whether Rep. Alexandria Ocasio-Cortez (D-N.Y.) will run for president and what to expect in 2028. 💻 Submit your question
12:30 p.m. Senators meet for weekly caucus meetings. 📆 Today’s agenda
This afternoon Trump leaves for Beijing.
6:30 p.m. First and last House votes. 📆 Today’s agenda
Thursday Vice President Vance visits Bangor, Maine, to deliver remarks on combating fraud.
May 26 Trump will undergo a medical checkup.
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🍫 Celebrate: Today is National Nutty Fudge Day.
🎷 A Georgetown bar got a lot of attention: Martin’s Tavern was featured in “Saturday Night Live’s” cold open over the weekend. The skit featured actors Matt Damon, Aziz Ansari and “Weekend Update” co-anchor Colin Jost. 🎥 Watch the skit
The owner of Martin’s Tavern says FBI Director Kash Patel has actually visited the tavern.
🥯 Is this even possible?: The Wall Street Journal argues that “The World Has Officially Reached Peak Bagel,” pointing to new, “reimagined” takes on the bagel.
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Because it’s my daily goal to leave you with a smile, despite whatever is happening in the news, I’ll leave you with this dancing bunny.
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📺 Miss the previous issue of this newsletter? Catch up with a 1-minute video.
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