Trump’s $1.8 billion setback

Plus: Spokane wildfires, biological weapons, and punk godmothers.

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August 3, 2026 3:45pm EDT

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In today’s edition, we run down the biggest headlines of the afternoon, break down President Donald Trump's attempts to acquire a personal slush fund, and embrace the fine art of "sensory gratification." Have thoughts or feelings on what you read here? You can reach me directly by email. I’m at [email protected].

Caitlin Dewey, senior writer

We always like a bit of good democracy news — such news being in overall short supply — and acting Attorney General Todd Blanche appeared to deliver some last night.

Blanche is currently jockeying for the permanent AG gig, which would put him in charge of the Justice Department. But his confirmation process stalled over bipartisan objections to President Donald Trump’s “Anti-Weaponization Fund,” a $1.8 billion reparation program for people who claimed the government had wronged them.

On Sunday, in acknowledgement of those objections, Blanche confirmed in writing that the Justice Department had rescinded the fund and had no plans to revive it. It's a rare reminder that the Senate's confirmation power can still constrain the White House, even if many Republican lawmakers would rather not rock the boat. And the presidential boat was very much rocked by the dust-up over Blanche’s confirmation.

In a post on Saturday, Trump insisted that he’d get some version of the fund even over senators’ objections. And on Monday, he told reporters that he didn’t sign off on the rescission. Notably, the two Republicans who forced that surrender — North Carolina’s Thom Tillis and Texas’s John Cornyn — will both depart the Senate in early 2027.

All the president's slush funds

The Anti-Weaponization Fund is just the latest of Trump’s attempts to siphon federal money into an account that he or his allies control. In fact, the quest to secure such a slush fund is a defining feature of his presidency — and several of his previous, less egregious attempts have been more successful. Those include:

Venezuelan oil accounts

Since the US toppled Venezuelan President Nicolás Maduro earlier this year, proceeds from the sale of Venezuelan oil have gotten routed into special US Treasury accounts, which are labeled as Venezuela’s sovereign property — but only released at the direction of the secretary of state.
The Board of Peace

Trump’s controversial coalition for rebuilding Gaza was conceived as a pay-to-play operation: Member countries get seats for a mere three years unless they pony up $1 billion to the Trump-controlled organization. While more than 20 countries have signed on, Reuters reported in April that only two had actually made contributions.
US sovereign wealth fund

Trump first floated this idea of a government-owned wealth fund, which would allow him to direct federal investment in private companies, during his first term. While it never got off the ground as such, the administration has since acquired equity stakes in at least a dozen firms.

“The long-term risk is not just that Trump might be doing something illegal,” Tad DeHaven, a policy analyst with the Cato Institute, wrote for Vox earlier this year. “The long-term risk is that his presidency is normalizing treating the receipt and disbursement of money as instruments of personal power.”

Spokane fires: Wildfires in Washington state forced 60,000 people to evacuate and destroyed at least 600 buildings.
Humanitarian aid: The State Department restored some funding to efforts fighting global malnutrition and disease after a series of big donations.
On the podcast: A new book imagines the chaos that could unfold if a biological weapon were released — either accidentally or on purpose. Listen to the whole thing here.

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➨ Happiness is overrated. In a new book, the author Ian Bogost argues we should instead pursue sensory gratification: the simple and immediate pleasure found in physical experiences, whether changing gears in a stick-shift car or holding a warm mug in your hands.

Did you know…that dolphins have been known to beat and kill other animals for fun? I spent much of my weekend watching a baby animal documentary with my sick child, and am actually devastated to learn that many adorable animals “are also murderous monsters.”
Today’s trivia: What Pennsylvania-born singer/songwriter is sometimes called “the godmother of punk”? (You can find this and other brain puzzles in Vox’s daily crossword. Look for the answer in tomorrow’s edition.)
Yesterday’s trivia: Last Friday we asked you for the Vietnamese word for festival. That would be “tết,” as in the 1968 Tet Offensive — a brutal military campaign that began during Vietnamese Lunar New Year celebrations.

Today’s edition was produced and edited by me, Caitlin Dewey. Thanks for reading!

Have thoughts or feelings on what you read here? You can reach me directly by email. I’m at [email protected].

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Trump’s $1.8 billion setback

Plus: Spokane wildfires, biological weapons, and punk godmothers.

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