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The Trump administration’s high-profile deployment of federal troops to six U.S. cities has cost taxpayers roughly $496 million through the end of December, and continued deployment could cost over $1 billion for the rest of the year, according to new data from the nonpartisan Congressional Budget Office.President Donald Trump has justified sending National Guard troops into U.S. cities as part of an effort to combat crime and support local law enforcement. Critics of the move argue the deployments undermine state and local authority and exceed the president’s authority under the Constitution.The CBO published the new data estimating the costs associated with the federal deployments of National Guard and active-duty Marines after a request from Sen. Jeff Merkley, D-Ore., who is the ranking member on the Senate Budget Committee.“The American people deserve to know how many hundreds of millions of their hard-earned dollars have been and are being wasted on Trump’s reckless and haphazard deployment of National Guard troops to Portland and cities across the country,” Merkley said in a statement about the CBO report.Factored into the estimates are troop deployments to Chicago, Memphis, Portland, as well as Los Angeles in June, when protesters took to the streets in response to a blitz of immigration arrests. The CBO said continued deployments to those cities would cost about $93 million per month.The estimate excludes the military’s December deployment to New Orleans.For further possible deployments down the road, the CBO estimates deploying 1,000 National Guard personnel to a U.S. city in 2026 would cost $18 million to $21 million per month, depending on the local cost of living.National Guard troops are expected to remain deployed in Washington throughout 2026, according to a memo reviewed by The Associated Press earlier this month.The troop deployments have provoked legal challenges from local leaders, and some have been successful. A California federal judge in January ruled that the Trump administration “willfully” broke federal law by sending National Guard units to the Los Angeles area.White House spokeswoman Abigail Jackson did not address the CBO’s cost estimate but said in a statement that the White House’s deployment efforts have driven down crime.“Thanks to the Trump Administration’s highly successful efforts to drive down violent crime, cities like Memphis and D.C. are much safer for residents and visitors with crime dropping across all major categories,” she said. “The media should talk to individuals who are able to go about their daily lives without fear of being assaulted, carjacked, or robbed thanks to the Trump Administration.” Fatima Hussein, Associated Press
Category:
E-Commerce
Shares of Facebook owner Meta Platforms (Nasdaq: META) are surging in premarket trading this morning after the company announced its fourth-quarter 2025 earnings yesterday afternoon. The earnings not only exceeded investor expectations, but CEO Mark Zuckerberg also laid out his vision for how artificial intelligence is set to transform the companyand personal computingin the years ahead. Heres what you need to know. Meta reports strong Q4 2025 earnings Expectations for Metas Q4 2025 were relatively high, but when the company announced its latest quarterly earnings after the bell last night, they exceeded what most investors had hoped for. Here are the key financials Meta reported: Quarterly revenue: $59.89 billion Earnings per share (EPS): $8.88 Quarterly revenue was a 24% increase from the same period a year earlier. As noted by CNBC, it also blew past LSEG analyst expectations of $58.59 billion. In other words, Meta brought in around $1.3 billion more than most people thought it would. Thanks in part to its strong revenue, Meta also beat earnings per share (EPS) estimates. Most LSEG analysts had been expecting an EPS of $8.23. Meta beat that by 60 cents per share. The company also revealed some other interesting metrics, most notably about its user base. For the quarter, Meta reported a family daily active people (DAP) metric of 3.58 billion. Family daily active people is the term Meta uses to encapsulate how many individuals use its family of products on a daily basis. Metas family of products includes Facebook, Instagram, and WhatsApp. Metas family DAP for the fourth quarter grew 7% year over year. Looking ahead at the companys financials, Meta said it expects its current first-quarter 2026 revenue to come in at between $53.5 billion and $56.5 billion. Thats significantly ahead of the $51.41 billion most analysts were expecting. Zuckerberg tries to predict the futureagain Meta didnt just reveal its financial metrics. Zuckerberg also spoke about the future of technology and the way artificial intelligence will both boost Metas business and change personal computing more broadly. To the latter point, the chief executive said he believes AI-powered smart glasses will represent a paradigm shift in personal computing, likening the specs to the smartphones impact on computing, and saying glasses will be the ultimate incarnation of the device we use most efficiently to consume AI content. They’re going to be able to see what you see, hear what you hear, talk to you and help you as you go about your day, and even show you information or generate custom UI right there in your vision, Zuckerberg stated in comments posted to Facebook. I think we’re at a moment similar to when smartphones arrived, and it was clearly only a matter of time until all those flip phones became smartphones,” he added. “It’s hard to imagine a world in several years where most glasses aren’t AI glasses. His statement here isnt much of a surprise, however, considering how Meta has long worked on devices aimed at dethroning the smartphone as peoples personal computer of choice. Meta first tried to do this with its virtual reality headsets and virtual metaverse world. These initiative were run by the companys Reality Labs division. But early this month, Meta initiated massive layoffs at Reality Labsand admitted that its VR product never caught on with the general public. AI as an advertising booster Any hardware that Meta makes still represents a minuscule part of Facebooks revenues. The company is, after all, primarily an advertising company, not a hardware technology one. Around 97% of its revenues are made from selling ads across its platforms. Not surprisingly, Zuckerberg touched on how artificial intelligence would be a boost to its current ad business. The Meta CEO said that it was currently working on merging its LLMs with its ads system and said that its current world class recommendation systems, which its ads rely on, were still primitive compared to what will be possible soon. As an example, Zuckerberg pointed out that Meta’s existing ad systems help businesses find the right, specific users who are likely to purchase their goods. But thanks to AI, New agentic shopping tools will allow people to find just the right very specific set of products from the businesses in our catalogue. It’s not the only way that Metas ad business stands to benefit from the artificial intelligence boom. Meta, like many tech giants, is rushing to build out its personal data center capacity to run artificial intelligence tools on. By owning the data center directly, Meta and these other companies will be able to cut down on costs, which are currently paid to third-party data center owners. As analyst firm MoffettNathanson pointed out in a research note on Thursday, Metas buildup of its own data centers could benefit its business. [Given] the AI capacity constraint facing the industry, Meta has been forced to use third-party cloud offering as their own data centers are not ready to move online yet, the research firm noted. Longer-term, these workloads should shift from 3rd party contracts to Meta’s own facilities which, we think, should produce margin leverage. Metas stock price jumps Given Metas robust Q4 2025 results and a Q1 2026 forecast that beat what most analysts were expecting, its little surprise that the companys stock price is surging in premarket trading this month. As of this writing, shares of Meta Platforms (Nasdaq: META) are up around 8.8% to $668.73 per share. In its Thursday note, MoffettNathanson maintained its “buy” rating for Meta’s stock and increased its price target to $810. As of yesterdays close, META shares had only increased about 1.3% year-to-date, according to Yahoo Finance data. If the companys premarket stock price gain holds when markets open, that will mean Metas stock has already surged 10% in the first month of 2026. Todays premarket gain also means that Metas stock price is now out of the red for the past year. As of yesterdays market close, Metas stock was down about eight-tenths of a percent over the past year. That contrasts with the Nasdaq Composites broader gain of around 21% over the same period.
Category:
E-Commerce
Senate Democrats are threatening to block legislation that would fund the Department of Homeland Security and several other agencies Thursday, potentially bringing the government a step closer to a partial shutdown if Republicans and the White House do not agree to new restrictions on President Donald Trump’s surge of immigration enforcement.As the country reels from the deaths of two protesters at the hands of federal agents in Minneapolis, irate Senate Democrats laid out a list of demands ahead of a Thursday morning test vote, including that officers take off their masks and identify themselves and obtain warrants for arrest. If those are not met, Democrats say they are prepared to block the wide-ranging spending bill, denying Republicans the votes they need to pass it and triggering a shutdown at midnight on Friday.Senate Democratic leader Chuck Schumer said Wednesday that Democrats won’t provide needed votes until U.S. Immigration and Customs Enforcement is “reined in and overhauled.”“The American people support law enforcement, they support border security, they do not support ICE terrorizing our streets and killing American citizens,” Schumer said.There were some signs of possible progress as the White House has appeared open to trying to strike a deal with Democrats to avert a shutdown. The two sides were talking as of Wednesday evening, according to a person familiar with the negotiations who requested anonymity to speak about the private talks. One possible option discussed would be to strip the funding for the Homeland Security Department from the larger bill, as Schumer has requested, and extend it for a short period to allow time for negotiations, the person said. The rest of the bill would fund government agencies until September.Still, with no agreement yet and an uncertain path ahead, the standoff threatened to plunge the country into another shutdown just two months after Democrats blocked a spending bill over expiring federal health care subsidies, a dispute that closed the government for 43 days as Republicans refused to negotiate.That shutdown ended when a small group of moderate Democrats broke away to strike a deal with Republicans, but Democrats are more unified this time after the fatal shootings of Alex Pretti and Renee Good by federal agents. Democrats lay out their demands There’s a lot of “unanimity and shared purpose” within the Democratic caucus, Minnesota Sen. Tina Smith said after a lunch meeting Wednesday.“Boil it all down, what we are talking about is that these lawless ICE agents should be following the same rules that your local police department does,” Smith said. “There has to be accountability.”Amid the administration’s immigration crackdown, Schumer said Democrats are asking the White House to “end roving patrols” in cities and coordinate with local law enforcement on immigration arrests, including requiring tighter rules for warrants.Democrats also want an enforceable code of conduct so agents are held accountable when they violate rules. Schumer said agents should be required to have “masks off, body cameras on” and carry proper identification, as is common practice in most law enforcement agencies.The Democratic caucus is united in those “common sense reforms” and the burden is on Republicans to accept them, Schumer said, as he has pushed for the Homeland spending to be separated out to avoid a broader shutdown.Senate Majority Leader John Thune, R-S.D., has indicated that he might be open to considering some of the Democrats’ demands, but he encouraged Democrats and the White House to talk and find agreement. Many obstacles to a deal As the two sides negotiated, it was still unclear whether they could agree on anything that would satisfy Democrats who want Trump’s aggressive crackdown to end.The White House had invited some Democrats for a discussion to better understand their positions and avoid a partial government shutdown, a senior White House official said, but the meeting did not happen. The official requested anonymity to discuss the private invitation.The House passed the six remaining funding bills last week and sent them to the Senate as a package, making it more difficult to strip out the homeland security portion as Democrats have demanded. Republicans could break the package apart with the consent of all 100 senators or through a series of votes that would extend past the Friday deadline.Even if the Senate can resolve the issue, House Republicans have said they do not want any changes to the bill they have passed. In a letter to Trump on Tuesday, the conservative House Freedom Caucus wrote that its members stand with the president and ICE.“The package will not come back through the House without funding for the Department of Homeland Security,” according to the letter. Republican opposition Several Republican senators have said they would be fine with Democrats’ request to separate the Homeland Security funds for further debate and pass the other bills in the package. But it might be more difficult to for Democrats to find broad GOP support for their demands on ICE.North Carolina Sen. Thom Tillis said he’s OK with separating the bills, but is opposed to the Democrats’ proposal to require the immigration enforcement officers to unmask and show their faces, even as he blamed Homeland Security Secretary Kristi Noem for decisions that he said are “tarnishing” the agency’s reputation.“You know, there’s a lot of vicious people out there, and they’ll take a picture of your face, and the next thing you know, your children or your wife or your husband are being threatened at home,” Tillis said. “And that’s just the reality of the world that we’re in.”Republican Sen. John Cornyn of Texas said that “what happened over the weekend is a tragedy,” but Democrats shouldn’t punish Americans with a shutdown and a “political stunt.”Democrats say they won’t back down.“It is truly a moral moment,” said Sen. Richard Blumenthal, D-Conn. “I think we need to take a stand.” Associated Press writer Michelle Price in Washington contributed to this report. Mary Clare Jalonick, Kevin Freking and Lisa Mascaro, Associated Press
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E-Commerce
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