The Bulletin

• Ukraine runs out of ATACMS: Ukraine has used up its scarce supply of U.S.-donated American long-range ballistic missiles, according to a new report.

• Earthquake rocks Naples in Italy: A 4.4 magnitude earthquake struck the Italian city of Naples overnight, causing damage to buildings and property and sparking fear among residents. Get more information.

• Travel advisories for Americans: As of March 11, 2025, the U.S. Department of State has issued "Level 4: Do Not Travel" advisories for several countries. Here are the countries currently under these advisories.

• US stock market lags European indexes: The U.S. stock market has lagged behind European indexes since Trump returned to office. Find out why.

• New FBI warning: The Federal Bureau of Investigation is warning smartphone users in the U.S. to delete fraudulent text messages appearing to come from toll road services, delivery companies and government agencies. Learn more.

• Judge rebukes Trump for firing federal worker: A federal judge on Wednesday sharply rebuked the Trump administration's argument that the Constitution vests Trump with the power to unilaterally fire federal workers as the head of the executive branch. More on the argument.

The rundown: Social Security has become a hot topic in recent weeks as the Trump administration continues its overhaul of the federal agency responsible for paying benefits to tens of millions of people every month. Here's what to know.

Why it matters: In February, the federal government's Office of Personnel Management advised federal government agencies, including the Social Security Administration (SSA), to submit "reorganization plans" by March 13 and prepare for "reductions in force." The SSA has also announced a number of changes to its operations, including the closure of field offices and internal departments. The changes have sparked concerns about the future of benefit payments, as prominent former workers at the SSA and lawmakers warn that the system, which paid out $1.5 trillion in benefits in 2024, could collapse without the staff to make it function.

Read more in-depth coverage:
Does Elon Musk Want To 'Eliminate' Social Security? What To Know

TL/DR: "Ultimately, you're going to see the system collapse and an interruption of benefits," Martin O'Malley, former SSA commissioner in the Biden administration, said last week.

What happens now? Molly Weston Williamson from The Center for American Progress think tank, said that DOGE's "assaults on the SSA threaten Americans' ability to access the benefits they rely on to get by," particularly those that receive disability payments. "Any delay or interruption in payments would be catastrophic," she warned.

Deeper reading How Social Security Cuts Could Impact Benefit Payments

The rundown: As the chances of the U.S. plunging into a recession this year grow, housing experts are giving American homeowners reassurance that the value of their properties will not crash even in the face of a major economic downturn. Find out why.

Why it matters: The housing market is "relatively insulated from a downturn," according to Redfin's economist Chen Zhao, because most homeowners "are sitting on high levels of equity" and have likely locked down relatively low mortgage payments before rates skyrocketed following the Federal Reserve's aggressive rate-hiking campaign to combat inflation. Because U.S. homes have appreciated so much over the past few years, even homeowners who may find themselves underwater will be motivated to continue paying their mortgages to keep hold of their properties. This is a very different situation from the one that led to the housing crash of 2008.

Read more in-depth coverage:
How To Prepare For a Recession in 2025

TL/DR: Fears of the U.S. entering a recession this year have grown in recent weeks, as stock markets tumbled following Trump's decision to impose sweeping tariffs on allied countries and uncertainty increases for businesses, consumers, and investors.

What happens now? The tell-tale signs of an incoming recession are starting to manifest in the U.S., with a "vibe shifting in the form of financial market signals, falling consumer/business confidence, and rising unemployment insurance claims," according to Zhao.

Deeper reading Will Recession Spark a Housing Market Crash? What to Know

The rundown: President Trump 're-Truthed' a story to his Truth Social platform which included a graphic of the Pink Triangle, a symbol used to target gay men in Nazi Germany. See the reactions.

Why it matters: The downward Pink Triangle was the gay equivalent of the yellow star for Jewish people under the Nazis. It was used to mark out gay and transgender people in concentration camps. People marked with the Pink Triangle were subjected to horrific treatment, including medical experiments, castration and mass execution. The story Trump was reposting was an opinion piece by The Washington Times correspondent Jeremy Hunt praising the Trump Administration and Secretary of Defense Pete Hegseth for banning transgender troops from the military. LGBTQ+ publications and many people on X have expressed concern over the President reposting an image of the infamous symbol.

Read more in-depth coverage:
Supreme Court Could Roll Back Conversion Therapy Ban

TL/DR: This marks the third time someone in or close to the Trump administration has been accused of demonstrating symbolism that can be tied to the Nazis.

What happens now? The post is still up on Trump's Truth Social account as of Thursday, March 13.

Deeper reading What Is 'Pink Triangle'? Trump Truthing Nazi-Era Symbol Sparks LGBTQ Anger

The rundown: Poland's President Andrzej Duda has urged President Donald Trump to deploy nuclear weapons to his country. Know more.

Why it matters: Since the start of Vladimir Putin's full-scale invasion of Ukraine, Russia has made repeated nuclear threats and deployed atomic weapons to its closest ally Belarus, which borders Poland. Duda told The Financial Times that it was "obvious" that Trump could move American nuclear warheads stationed in the U.S. or western Europe to Poland. He added that he had already discussed the idea with Keith Kellogg, Trump's special envoy to Ukraine. Duda also said that NATO should shift its defense infrastructure eastwards. He said the alliance's borders moved eastwards in 1999, the year Poland joined, so the bloc's nuclear infrastructure should follow suit.

Read more in-depth coverage:
NATO Ally Prepares 'Survival Guides' for Possible War With Russia

TL/DR: Since the start of Vladimir Putin's full-scale invasion of Ukraine, Russia has made repeated nuclear threats and deployed atomic weapons to its closest ally Belarus, which borders Poland.

What happens now? French President Emmanuel Macron has also signaled a shift in nuclear policy, saying on March 5 that France is open to extending its nuclear umbrella to protect European allies.

Deeper reading Poland Asks Donald Trump For Nuclear Weapons

The rundown: Steve Bannon, the architect of the MAGA movement, believes the right-wing "economic populism" is starting to gain traction among leading Democrats looking for a way out of the political wilderness after Trump's comeback victory. Here's what he said.

Why it matters: Economic populism, the way Bannon defines it, prioritizes the interests of the working and middle classes over those of "elites" and large corporations. His remarks to Newsweek come after his appearance on California Governor Gavin Newsom's new podcast, This is Gavin Newsom, where the progressive Democrat found some common ground with the firebrand informal Trump advisor on issues ranging from manufacturing, corporate tax cuts to even certain tariffs. Though he doesn't hold an official role in the second Trump administration, Bannon's imprimatur can still be seen in the White House's "flood the zone" communications strategy.

Read more in-depth coverage:
Steve Bannon Warns Corporations 'Gamed the System' With Trump Tax Cuts

TL/DR: Bannon has long criticized the "tech oligarchs" surrounding Trump this time around, accusing them of partaking in what he calls "techno-feudalism."

What happens now? Bannon has made clear that Elon Musk must not touch entitlement spending like Medicaid, except in cases of fraud, saying that many MAGA supporters rely on the federal program.

Deeper reading Steve Bannon's Brand of Populism Finds Unlikely Support From Gavin Newsom