In this Media Miss Minute, the Trump administration has frozen billions of dollars in funding to Democrat-led states amid the government shutdown. And the United States now holds $1 trillion in gold reserves.
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Media Miss by the right: Trump freezes $26B to blue states amid government shutdown
As the government shutdown stretches into day three, the Trump administration has frozen $26 billion in federal funding to Democratic states.
Of that money, about $18 billion was for transit and infrastructure projects in New York. Plus, $8 billion was designated for climate and clean energy programs across several states, including California and Illinois.
Democratic lawmakers say the funding freeze is politically motivated and harmful to vulnerable communities.
“Choking off these projects out of spite will damage America’s competitiveness and cost working families dearly,” Senate Minority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries said in a joint statement.
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Media Miss by the left: US now holds $1T in national gold reserves as gold hits record high
With a recent surge in the price of gold the U.S. Treasury now has about $1 trillion worth in its coffers.
The price of gold surged to more than $3,800 per ounce on Monday amid a record weakening of the U.S. dollar, which has lost roughly 11% of its value since just January. The value of gold bullion is now at an all-time record high.
The gold rally follows expectations of another Federal Reserve rate cut in October and concerns related to the government shutdown.
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