Washington Today American fighter jet is shot down over Iran, one crewmember still missing; March jobs report stronger than expected
Apr 3, 2026
Todd Blanche, Deputy Attorney General stepping in as acting top DOJ official. Greg Robb, MarketWatch economics editor and labor market analyst. They discuss a U.S. fighter jet downed over Iran and the ongoing rescue; dramatic implications for national security and defense spending. They also analyze March jobs data, why gains surprised, and how the Iran conflict could shape the economy.
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Budget Shifts Prioritize Military Over Domestic Programs
- The White House budget seeks roughly a 40–42% Pentagon increase and $73 billion in domestic cuts, framing priorities toward military over safety-net programs.
- Reporting highlights tensions: restocking war supplies versus cutting health, housing, and education funds.
Justify Big Defense Hikes With Immediate Operational Needs
- Frame defense spending increases as urgent needs to restock munitions and respond to global threats.
- White House officials and Senator Lindsey Graham presented the $1.5 trillion proposal as justified by ongoing conflicts.
March Jobs Strong But War Risk Clouds Q2
- March added 178,000 jobs and unemployment fell to 4.3%, but economists warn the war with Iran may hit labor markets in Q2.
- Greg Robb says March data is backward-looking and the bigger risk is April–June supply-shock effects on gasoline, inflation, and hiring.