NPR News: May 21, 2025, 7 PM EDT

Host: Jack Spear
Publisher: NPR
Episode Release Date: May 21, 2025

1. House Speaker Mike Johnson on Partisan Spending Plan

House Speaker Mike Johnson announced significant progress toward a partisan spending plan aimed at addressing both taxation and government spending. Speaking after a prolonged meeting with President Donald Trump and GOP holdouts, Johnson emphasized the collaborative efforts to secure a deal.

• Key Developments:

  • Deficit Concerns: Johnson highlighted discussions with deficit hawks within the GOP to reconcile differing viewpoints on national debt and spending.
  • Presidential Input: The strategy includes leveraging presidential executive orders to navigate through certain budgetary challenges, thereby increasing the likelihood of the plan's passage through the House.

• Notable Quotes:

  • "Leaders made new ground with deficit hawks during the White House meeting in their effort to eventually pass a new sweeping tax and spending package." — Mike Johnson [00:34]
  • "I think that all of our colleagues here will really like this final product. We're excited. I believe we are going to land this airplane." — Mike Johnson [00:44]

Claudio Grosales of NPR reported that the prospects of finalizing the spending package are optimistic, with expectations that the House could vote on the plan as early as the week of the podcast's release.

2. U.S. Acquisition of a Boeing 747 for Presidential Use

In a surprising development, the United States has officially accepted a Boeing 747 luxury jet as a gift from the Qatari government. This aircraft is slated to be transformed into the new Air Force One to carry President Donald Trump.

• Details:

  • Modification Plans: The Department of Defense has instructed the Air Force to secure a contract for modifying the aircraft to meet the stringent security and communication standards required for presidential transport.
  • Cost and Timeline: Experts anticipate that the conversion will necessitate significant upgrades, potentially spanning several years with costs ranging from hundreds of millions to a billion dollars.

• Notable Quotes:

  • "The Department of Defense had instructed the Air Force to award a contract to modify a Boeing 747 aircraft for an executive airlift." — Kat Lonsdorf [01:31]

Kat Lonsdorf of NPR highlighted that while President Trump has suggested a rapid conversion, the actual process is expected to be extensive and costly, ensuring the new Air Force One meets all necessary operational standards.

3. President Biden's Prostate Cancer Diagnosis and Screening Recommendations

President Joe Biden's recent diagnosis of late-stage prostate cancer has reignited discussions surrounding the guidelines for prostate cancer screening, particularly the use of the prostate-specific antigen (PSA) test.

• Key Points:

  • PSA Test Controversy: The PSA test, while common, is known for its propensity to produce false positives, leading to unnecessary treatments and associated complications.
  • Guideline Variability: The U.S. Preventive Services Task Force (USPSTF) has offered mixed recommendations over the years, especially concerning men aged 55 to 69. Currently, the USPSTF provides a "tepid grade of C" for testing in this age group, indicating that the benefits may be small.

• Notable Quotes:

  • "There's a blood test called the prostate specific antigen or PSA test, but it is prone to false positives in the past that led to unnecessary treatments, so the guidelines remain murky." — Yuki Noguchi [02:13]
  • "For those over age 70, like the former president, screening is no longer recommended because the benefits would not outweigh the downsides of treatment." — Yuki Noguchi [02:13]

Health correspondent Yuki Noguchi elaborated on the complexities of prostate cancer screening and the ongoing debate over the appropriate age and frequency for testing, especially in light of high-profile cases like President Biden's.

4. Stock Market Sell-Off Amid Budget Deal Uncertainty

The U.S. stock markets experienced a substantial downturn, with the Dow Jones Industrial Average plummeting over 800 points and the Nasdaq dropping 270 points. This significant decline has been attributed to bond market instability linked to the stalled budget negotiations.

• Market Impact:

  • Bond Market Jitters: Investors are reacting to the uncertainty surrounding the absence of a definitive budget deal, leading to increased volatility in bond markets.
  • Economic Concerns: The lack of a consensus on spending and taxation is raising fears about potential government shutdowns and their broader economic implications.

• Notable Quote:

  • "Blame Wall Street's worst sell off in weeks on bond market jitters linked to the lack of a budget deal in Washington." — Jack Spear [03:02]

Jack Spear of NPR reported on the immediate effects of the political gridlock on financial markets, emphasizing the interconnectedness of fiscal policy decisions and investor confidence.

5. Sleep Token's Historic Billboard Achievement

The English hard rock band Sleep Token has made a remarkable entry into the music charts by debuting at number one on the Billboard 200 with their album "Even in Arcadia." This achievement is particularly noteworthy given the band's enigmatic presence and mask-wearing persona.

• Highlights:

  • Chart Success: All ten tracks from "Even in Arcadia" have secured positions on Billboard's Hot 100 Singles, showcasing the album's widespread appeal.
  • Mystique Factor: Sleep Token maintains an air of mystery, with masked members and a complex lore that has captivated fans and critics alike.

• Notable Quotes:

  • "It's a remarkable feat for a band that has remained a mystery. Secrecy surrounds the true identity of its members, who wear masks and have constructed elaborate lore around Sleep Token's backstory." — Claudio Grosales [03:23]

Stephen Thompson of NPR highlighted the cultural impact of Sleep Token's success, drawing parallels to the Swedish band Ghost, which achieved a similar chart-topping milestone just two weeks prior. The use of masks has become a distinctive and intriguing element in their rise to prominence in the hard rock scene.

6. Cryptocurrency Surge and Legislative Advances

Bitcoin reached an all-time high in recent trading, with a single bitcoin surpassing $109,000—a level not seen since President Trump's inauguration. This surge is part of a broader trend in the cryptocurrency market, complemented by significant legislative progress.

• Market Trends:

  • Bitcoin's Rally: From lows of approximately $75,000 the previous month, Bitcoin's ascent reflects growing investor confidence and market dynamics.
  • StableCoin Legislation: The U.S. Senate advanced legislation to establish a regulatory framework for StableCoins—cryptocurrencies backed by reserve assets to maintain stable value.

• Additional Market Movements:

  • Oil Prices: Crude oil futures declined by 47 cents per barrel, settling at $61.57 in New York markets, indicating a complex interplay between energy markets and financial assets.

• Notable Quotes:

  • "The price increase comes as the crypto industry got a major win with the US Senate advancing legislation creating a framework to regulate StableCo." — Jack Spear [04:12]

Jack Spear provided an overview of the bullish trends in the cryptocurrency sector, noting that regulatory clarity through StableCoin legislation is likely a significant factor bolstering investor optimism. The coordinated rise in various cryptocurrencies underscores a robust and evolving digital asset landscape.

7. Other Notable News

• Entertainment: The podcast briefly mentions a romantic comedy titled "Jane Austen Wrecked My Life" from Sony Pictures Classics, scheduled to open in select theaters on May 23. The film explores the aspirations of a woman seeking success in writing and true love during a Jane Austen writer's residency.

This summary encapsulates the major news highlights from NPR News Now's May 21, 2025, episode, providing listeners with a comprehensive overview of the key events and discussions without the inclusion of advertisements or non-content segments.