Trump Says His Arch Will Have Snipers and Drones

Good evening. President Trump's offensive against the mainstream news media continued to play out on Monday, as CNN, MS NOW and Politico filed a lawsuit seeking to overturn Trump's ban on their presence at the White House. Trump defended the ban, saying he "cherished" the free press and is opposed only to "the FAKE NEWS," which he described as "corrupt, purposeful, pervasive, fully coordinated, and totally out of control," as well as "a threat to our National Security." In protest of the ban, the major TV networks, including ABC News, CBS News, NBC News and Fox News, announced that they would suspend their pooled broadcast coverage of the president.\n\nHere's what's happening in fiscal news.

Trump Says His Arch Will Be a 'Military Complex' With Drones and Snipers

As part of his whirlwind effort to reshape the nation's capital in his own image, President Trump has been pushing for the construction of a massive, triumphal arch between Arlington National Cemetery and the Lincoln Memorial. But veterans and historic preservation groups have pushed back against the proposed 250-foot structure, which would be nearly as tall as the U.S. Capitol Building, and an analysis by the National Park Service last month concluded that the arch would change the skyline of the city and impinge on views of other monuments nearby.

Never one to back down, on Sunday Trump changed the way he is making his case for the arch. While last year he admitted to a reporter that the arch was a tribute to himself - "Who's it for?" the reporter asked. "Me. It's going to be beautiful," Trump replied - he now says that it will be built for active use by the military.

"At the strong request of the United States Military, and for National Security purposes, I have agreed to convert the magnificent Triumphal Arch... into a top grade Military Complex/Triumphal Arch," Trump wrote on his social media platform on Sunday. The complex will be a serious military installation that will "house, store, and have the rapid ability to use large numbers of drones, plus Snipers, on both the roof and plaza areas, and additionally have and hold large quantities of sniper ammunition in storage."

Perhaps not coincidentally, the change in communications strategy mirrors how Trump altered his approach to the ballroom he is constructing next to the White House, which he now describes as a vital military complex rather than a fancy banquet hall. While a judge temporarily halted construction on the ballroom itself earlier this year amid legal challenges, construction on the underground portion, which will house military and medical facilities, was allowed to continue, and the courts rarely push back when a president cites national security as a reason for doing something.

Lawmakers aren't sure: Plenty of critics have questioned the arch, and on Monday a Republican lawmaker said he has his doubts about the project.

"There's a lot of things that we need the military funding for - in fact, we're short on military funding right now," Rep. Mike Simpson, who sits on the Appropriations Committee, told reporters at the Capitol. "If it was my choice, I wouldn't put any of that money into the arch," he added, referring to Pentagon funding.

The Idaho Republican said that if the Defense Department says it needs the arch, then lawmakers should debate the issue while recognizing that there are other priorities. And if they decide to back the project, then it should be funded through normal channels.

"I hope if they decide to do it, that they would come to Congress and ask for an appropriation for it if they're going to use appropriated dollars to do it," Simpson said.

One of Trump's leading Democratic critics chimed in, too. "Does Trump understand no one wants his stupid arch?" Rep. Jamie Raskin said on X. "Dressing it up as a military necessity doesn't help. America is sick of the military being used as an excuse for Trump's architectural whims and narcissistic fancies."

The bottom line: Trump wants his arch, and tying it to the military could help him make his case for building it. Still, there are serious questions about funding and permissions, and the courts could slow the project as various legal challenges play out.

US Sees Big Jump in State Ownership: Analysis

In 2024, the United States had the second-lowest level of state ownership worldwide, trailing only Japan, according to an index produced by the Peterson Institute for International Economics. But that changed dramatically in 2025, with the country tumbling down the rankings to 16th place as the Trump administration took ownership stakes in more than 30 private companies, including a 10% stake in chip giant Intel.

"The United States took a big step toward greater state ownership or control of the economy-a form of socialism-in 2025," PIIE's Cullen S. Hendrix wrote Monday. "This change is occurring under unified Republican domination of the US government, not under a Democratic administration and certainly not due to the political influence of Democratic Socialists, who currently occupy only a tiny handful of seats in Congress."

Hendrix noted that the rapid change is highly unusual. "Other countries in the index that change that much year-over-year tend to face either persistently volatile political economies or war-related crises, such as Afghanistan, Burkina Faso, or South Sudan, not large, advanced economies with several decades near the top of the rankings," he said.

The acquisitions are expected to continue as the Trump administration seeks to control supply chains, and that has Hendrix worried, since the ownership stakes lack independent oversight. "Under these circumstances," Hendrix warns, "state ownership and control typically redistribute benefits to politically connected clients and away from the public."

Quote of the Day: Economic Shift

"We've undergone a structural transformation of the economy. The regime change in inflation and interest rates is the outcome."

• RSM Chief Economist Joseph Brusuelas, describing a U.S. economy that is now defined by faster growth and higher inflation.

The economy has changed gears, Brusuelas told the Associated Press, shifting from a period before the pandemic of weak demand and plentiful supply to the current era of strong demand and supply bottlenecks, driven by the war with Iran and the massive buildout of infrastructure for artificial intelligence.

Brusuelas added that, in his view, economic growth is currently "imbalanced," far too dependent on AI investment and consumption by wealthy households. The inflationary pressure generated by that growth is real, though, suggesting that higher interest rates could be needed to bring inflation under control.

Fiscal News Roundup

• Worried Republicans Float Ideas to Lower Diesel, Gas Prices Before Midterms – Wall Street Journal
• Big Ag and Big Oil Go Head-to-Head Over Diesel Export Ban – Politico
• CNN, MS NOW, Politico Sue Over Denied White House Access, Citing First Amendment – Associated Press
• Trump Says His Planned Arch Would Become a 'Military Complex' Able to Host Drones and Snipers – Associated Press
• Trump on Iran: 'My Question Is, If and When Do I Blow the Entire Nation Up?' – The Hill
• Collins Slams Trump Plan to 'Politicize' Grants as Defying Congress – Politico
• Record Share of Voters Motivated to Oppose Trump in Midterms, Poll Finds – Washington Post
• Federal Reserve Official Says Fighting Inflation Likely to Be 'Painful' – Associated Press
• The IRS Is Cracking Down on a Favorite Way the Ultrawealthy Pass On Money – Bloomberg
• White House Plan to Subsidize Stay-at-Home Parents Divides Conservatives – New York Times
• Jon Voight Spent Months Courting Trump on Tax Help for Hollywood – Bloomberg

Views and Analysis

• How Trump Turned a Refugee Bureau Into a $410 Million Deportation Operation – David Nakamura and Adam Taylor, Washington Post
• Federal Reserve Rate Hike Reflects New World of Sticky Inflation and Faster Growth – Christopher Rugaber, Associated Press
• What Do Higher Yields Look Like? Our Model Shows Their Impact – Joseph Brusuelas and Tuan Nguyen, RSM Real Economy Blog
• The Only Solution to Our $40 Trillion Debt Problem Is a Value-Added Tax – Peter J. Tanous, The Hill
• What Could Make Congress Wake Up – Joe Manchin, Washington Post
• 'Stunning' Level of Support for Universal Health Care: Jayapal – Whitney Curry Wimbish, American Prospect
• US Treasury's Bond Scheme Is Not a National Debt Management Tool, Say Top Economists, but It Did Show Wall Street What Makes Scott Bessent Flinch – Eleanor Pringle, Forbes
• A $1.2 Trillion State Allowance Is Stunting America's Growth – Washington Post Editorial Board