Pentagon Raises Iran War Cost Estimate to $29 Billion
The Pentagon has revised its estimate for the cost of the Iran war to $29 billion, an increase of $4 billion from the previous estimate provided two weeks ago, according to acting Pentagon Comptroller Jules Hurst. This figure, presented during budget hearings, reflects rising expenses related to equipment repair and replacement, but does not include costs for repairing U.S. facilities damaged in the conflict. Defense Secretary Pete Hegseth faced criticism from lawmakers regarding the war's financial implications and its impact on U.S. military readiness.
House Oversight Committee Hears Epstein Abuse Testimonies
Democratic members of the House Oversight Committee held a hearing in Palm Beach, Florida, where they heard testimony from survivors of Jeffrey Epstein's abuse and discussed the government's handling of the scandal. Ranking Member Robert Garcia unveiled a report titled "The Price of Non-Prosecution," detailing how Epstein built a global sex trafficking network following a controversial plea deal in 2008. Witnesses included survivors who recounted their experiences and criticized the justice department for failing to protect their identities.
Student Loan Defaults Surge to 2.6 Million in 2026
The Federal Reserve Bank of New York reported that 2.6 million student loan borrowers defaulted in early 2026, following 1 million defaults in the fourth quarter of 2025. The average defaulter is nearly 40 years old, predominantly resides in Southern states, and was not past due on their loans prior to the pandemic. The share of student loan balances past due has increased to just over 10 percent, nearing pre-pandemic levels.
PayPal settles for $30 million over discrimination claims
PayPal has agreed to a $30 million settlement with the U.S. Department of Justice to resolve allegations that its Economic Opportunity Fund unlawfully favored certain businesses based on race and national origin. As part of the agreement, PayPal will waive processing fees for approximately $1 billion in transactions, benefiting eligible small businesses, particularly those that are veteran-owned or involved in farming, manufacturing, or technology. The settlement does not include any admission of wrongdoing by PayPal and comes amid broader scrutiny of corporate diversity initiatives under the Trump administration.
