NPR News Now: February 25, 2025, 5 PM EST
Host: Jack Speier
Release Date: February 25, 2025
Civil Service Resignations from Elon Musk’s Government Efficiency Team
At the outset of the episode, Jack Speier reports on a significant development within Elon Musk's government cost-cutting initiative. Bobby Allen, an NPR correspondent, elaborates on the mass resignation:
"21 civil service employees, mostly engineers and data scientists, have resigned. They used to work for U.S. Digital Service but have since been folded into Musk's Department of Government Efficiency."
[00:31]
The former employees released a joint resignation letter stating their refusal to:
"...use our skills as technologists to compromise core government systems, jeopardize American sensitive data or dismantle critical public services."
[00:31]
Allen highlights that these resignations occurred shortly after Musk launched the "Doge" initiative, during which employees faced intense scrutiny regarding their work and political affiliations. Musk has publicly stated that the Doge team aims to "shrink the size of government and combat waste and fraud."
Republican $4.5 Trillion Tax Cut Proposal Faces Opposition
Moving to domestic policy, Jack Speier discusses the Republican Party's ambitious budget proposal. House leaders are advancing a $4.5 trillion tax cut, though its passage remains uncertain amidst internal dissent.
House Minority Leader Hakeem Jeffries criticizes the proposal, asserting:
"Do not pretend that any of this, that this budget resolution has anything to do with fiscal responsibility or keeping your promises to the American people. You promised to lower the high cost of living, have done nothing about it."
[01:29]
Democrats oppose the tax cuts, warning that they could:
- Increase the federal deficit
- Threaten funding for essential programs like Medicaid, food assistance, and student loans
Meanwhile, House Speaker Mike Johnson and President Trump are reportedly negotiating behind the scenes to secure the necessary votes for the resolution's passage.
White House to Select Its Own Press Corps
A significant shift in media relations was reported by Speier. The White House announced plans to select its own press corps, deviating from the long-standing tradition managed by the White House Correspondents Association.
Caroline Levitt, White House Press Secretary, emphasized the administration's intent:
"It's beyond time that the press poll reflects the American people in 2025."
[02:11]
Windsor Johnson, NPR reporter, added context:
"There are hundreds of journalists who show up to this building every single day and are not granted that luxury of flying on Air Force One and asking the president of the United States questions. And so we want to ensure again everyone has a seat at that highly coveted table."
[02:20]
Levitt further stated:
"The decision by the administration breaks decades of precedent."
[02:33]
The White House Correspondents Association criticized the move, arguing it undermines the independence of a free press by allowing the government to determine which journalists can cover the president.
U.S. Financial Markets Respond to Consumer Confidence Concerns
The episode covers recent fluctuations in the U.S. stock markets amid growing worries about consumer confidence. Key market movements include:
- NASDAQ: Fell by 260 points
- S&P 500: Dropped by 28 points
- Dow Jones Industrial Average: Rose by 159 points
These changes reflect heightened anxiety over the stability of U.S. consumer spending, which is a critical driver of the economy.
Home Depot Reports Strong Q4 Earnings and Expansion Plans
In corporate news, Home Depot announced a robust fourth quarter, surpassing revenue growth expectations. Marlin Hyde from WABE highlights that the retailer achieved over $159 billion in sales for the 2024 fiscal year and plans to open 13 new stores.
Ted Decker, Home Depot CEO, provided insights into the company's performance:
"Sales grew a little over 14% in the fourth quarter from the year before to nearly $40 billion. Sales at stores open for at least a year also grew last quarter, ending the streak of eight straight quarters of decline."
[03:31]
Despite the positive growth, Decker noted:
"Interest rates are impacting the demand for home improvement, but consumers continue to hold off on major projects such as redoing a kitchen."
[03:31]
Marlon Hod added:
"Our fourth quarter results exceeded our expectations as we saw greater engagement in home improvement spend. Despite ongoing pressure on large remodeling projects."
[03:54]
Looking ahead, Home Depot forecasts 2.8% net sales growth for the fiscal year.
NASA and ESA Reassure Public About Newly Discovered Asteroid
Concluding the episode on a positive note, NASA and the European Space Agency (ESA) have declared that a recently discovered asteroid poses negligible risk to Earth. After two months of observation:
- The likelihood of the asteroid striking Earth in 2032 has decreased from 3% to a fraction of that chance.
- There remains a 1.7% probability of the asteroid impacting the Moon.
This reassessment offers reassurance to the public regarding potential celestial threats.
Market Update
In addition to the earlier market movements, crude oil futures saw a decline:
- Oil Prices: Dropped by 2.5%, settling at $68.93 per barrel.
This summary captures the key discussions and insights from the February 25, 2025, episode of NPR News Now. For the most current news updates, tune in to NPR News Now or visit plus.NPR.org.