Treasury Secretary Unveils Economic Plans, Trump Proposes Alcatraz Expansion – 5/5/25

Treasury Secretary Scott Bessent announced initiatives to reprivatize the U.S. economy through financial deregulation and reduced government spending, while President Trump proposed reopening and expanding Alcatraz to house violent offenders. Internationally, Israel’s cabinet approved escalated military operations in Gaza, and China showcased technological and sporting achievements amid ongoing global trade tensions.

United States

  • Treasury Secretary Scott Bessent unveils plans to reprivatize the economy by slashing government spending and advancing a robust financial deregulation agenda
  • Scott Bessent predicts that removing non-tariff trade barriers and addressing currency manipulation could lead to “more frictionless trade” despite ongoing tariffs
  • If Senate Republicans fail to confirm Ed Martin as US Attorney for DC by May 20, Judge Boasberg may appoint a Trump-opposing replacement
  • Florida Republicans are poised to flip Miami-Dade County red in voter registration, with Hillsborough now R+2 and Palm Beach at D+3.5
  • The Trump administration launches a self-deportation program offering illegal immigrants free flights and $1,000, cutting deportation costs by 70%
  • Tom Homan explains self-deportation incentives, stating, “If you leave on your own, you can take advantage of the legal programs to come back,” unlike formal deportations with up to 20-year bans, per RealTomHoman
  • Tennessee troopers’ weekend traffic stops uncover unlicensed drivers, illegal drugs, guns, and suspected gang ties, with dozens bused out by ICE
  • Treasury Secretary Scott Bessent reports record-high business applications for March 2025, noting “thousands of businesses are now catching the president’s vision,” per SecScottBessent
  • FCC Commissioner Brendan Carr pushes to empower local TV stations, arguing national media like ABC and NBC exert too much control, per BrendanCarrFCC
  • Former housing official Catherine Austin Fitts alleges the US has diverted $21 trillion to build 170 underground bases for elites, some under oceans, for a “near-extinction event”
  • Florida’s DOGE team, led by Governor DeSantis, exposes $1M in federal funds spent on “social justice” programs at the University of West Florida, demanding refunds, per DeSantis
  • Democratic state attorneys general sue to stop Trump’s suspension of new wind project permits, per Reuters
  • GOP Rep. Mike Lawler’s town hall erupts in chants of “Shame!” as attendees reject his deflections, per HuffPost
  • Trump plans to expand and rebuild Alcatraz as a federal prison, per NPR
  • Texas legislature moves to control university faculty and courses, threatening academic freedom, per The Washington Post
  • Archbishop criticizes Trump’s imagery as disrespectful following Pope Francis’ death, per HuffPost
  • Trump faces backlash for sharing AI-generated image of himself as pope, per The Washington Post
  • Trump questions whether everyone in the U.S. is entitled to due process, per The New York Times
  • Expert warns Trump’s cuts to FEMA and NOAA will worsen disaster response, per The Guardian
  • Energy Information Administration cancels key reports amid layoffs and turmoil, per ProPublica
  • Trump proposes a 100% tariff on foreign films, raising concerns for the global film industry, per The Washington Post
  • The White House clarifies that President Trump’s “Victory Day for World War I” proclamation on Nov. 11 will not replace Veterans Day, per ABC7 Eyewitness News

Western States

  • A billionaire’s Napa Valley winery empire, built with lavish remodels and top winemakers, shows signs of trouble just seven years after its start, per San Francisco Chronicle
  • A routine Antelope Valley traffic stop led to a felony arrest after police found LSD, meth, psilocybin mushrooms, and Xanax, per KTLA 5
  • President Trump orders Alcatraz reopened and expanded “to house America’s most ruthless and violent offenders,” per KATU News
  • A Utah family shares their emotional struggle after aiding victims in a deadly Idaho crash on Thursday, per KUTV2News
  • An Arizona road rage victim’s AI-generated voice delivers a courtroom statement to his killer, per FOX 10 Phoenix
  • San Carlos Apache members walk 80 miles from Oak Flat to Phoenix to protect their sacred site ahead of a federal hearing, per Arizona’s Family 3TV & CBS 5
  • An architect calls the Salt Palace sale to Smith Entertainment Group “very unusual” and “a bad deal” for Salt Lake County taxpayers, per KUTV2News
  • A woman’s 911 call about domestic violence led to Glendale police fatally shooting an innocent man; no charges will be filed, per FOX 10 Phoenix
  • A Scottsdale lab works to conserve peyote, an endangered sacred plant for Indigenous peoples, per Phoenix New Times
  • Papa Cristo’s, a beloved Los Angeles Greek restaurant, shuts down after 77 years of service, per KTLA 5
  • Cleophus Cooksey Jr. faces trial for eight murders in Phoenix and Glendale over three weeks in 2017, per Arizona’s Family 3TV & CBS 5
  • An abandoned newborn was found next to a dumpster in Riverside on Sunday afternoon, per KTLA 5
  • Metro search teams rescued six hikers at Red Rock Canyon on Saturday evening as darkness fell, per FOX5 Las Vegas
  • A high school tennis star was killed by a suspected drunk driver in Manhattan Beach, prompting a tearful vigil, per ABC7 Eyewitness News

International

  • President Trump announces talks with Turkey’s President Erdogan, with potential mutual visits to Washington, DC, and Turkey
  • Nearly half of Americans hold Trump responsible for the economy’s current struggles, per Newsweek

Middle East

  • Pope Francis’ popemobile transforms into a mobile clinic to deliver medical care to children in Gaza’s remote areas, per CBS News
  • Israel’s security cabinet approves an expansive plan for its Gaza offensive, sparking global concern, per The Guardian

Asia

  • The US rejects Japan’s full tariff exemption but may lower the 14% Japan-specific tariff, per Kyodo
  • Japan urges U.S. to ease steep tariffs on its cars and steel, but the U.S. insists on compliance, imposing a 25% tax on Japanese car parts, per Kyodo News
  • Chinese firms showcase innovation at the Canton Fair, countering U.S. tariff hikes with global outreach, per CGTN
  • Trump says he may extend TikTok divestment deadline if no deal is reached, stating, “I’d like to see it done,” per CGTN
  • Pakistan’s artillery reserves reportedly dwindle after exporting arms to Ukraine, limiting its combat capacity to 96 hours, per WIONews
  • Unexpected fog and rain delight tourists in Rajasthan’s Mount Abu, transforming the hill station’s scenery, per NDTV
  • China’s CR450, the world’s fastest high-speed train, tests its advanced brake system, stopping from 400 km/h in 112 seconds, per CGTN
  • China-Russia metro construction partnership strengthens, boosting Chinese firms’ global infrastructure presence, per CGTN
  • Indian stock indices rise, driven by gains in Adani Ports, Asian Paints, and Tata Motors, per NDTV
  • Pakistan persists with unprovoked firing along the LoC for the 11th straight night, per NDTV
  • China’s Zhao Xintong dominates Mark Williams 11-6 in the World Snooker Championship final’s opening day, per CGTN
  • China sweeps all nine titles at the Diving World Cup Super Final in Beijing, with Chen Jia and Zhu Zifeng clinching the last golds, per CGTN
  • China secures 14th Sudirman Cup title, defeating South Korea 3-1 in Xiamen, per CGTN

Europe

  • Nigel Farage’s party, following UK election gains, aims to block migrant hotels and halt environmentalist policies
  • All 133 voting cardinals have convened in Rome for the conclave to elect the next pope
  • NHS staff gain protections against discrimination for opting out of assisted dying under a new amendment, per The Guardian
  • Dutch war hero Major Marco Kroon removes anti-Israel protester disrupting Liberation Day speech in Wageningen, honoring the 250,000 Dutch lives lost in WWII
  • Red Arrows and WWII-era aircraft to soar over London for VE Day 80th anniversary celebrations starting today, per Sky News