The Latest: White House unveils Trump's 2026 proposed budget

The White House is unveiling President Donald Trump’s budget, a sweeping framework proposing steep reductions in non-defense domestic spending while increasing expenditures on national security. The budget plan released Friday shows a desire to crack down on diversity programs and initiatives to address climate change.

Meanwhile, the Trump administration has asked the Supreme Court to strip temporary legal protections from 350,000 Venezuelans, potentially exposing them to being deported.

Here's the latest:

Trump insists the economy will do ‘fantastically’ despite recession concerns

The president in an interview with NBC News’ “Meet the Press” said the U.S. economy is in a “transition period” but he expects it to do “fantastically.”

Trump, in an excerpt of the interview that is to air Sunday, snipped at NBC’s Kristen Welker when she noted that some Wall Street analysts have expressed concerns that chances of a recession are increasing.

“Well, you know, you say, some people on Wall Street say,” Trump said. “Well, I tell you something else. Some people on Wall Street say that we’re going to have the greatest economy in history.”

Wall Street extended its gains to a ninth straight day Friday, marking the stock market’s longest winning streak since 2004 and reclaiming the ground it lost since Trump escalated his trade war in early April.

But financial markets have been volatile. Consumer confidence is at its lowest level in five years. And economists say recession risks are rising.

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This entry has been updated to correct the name of the NBC television journalist to Kristen Welker, not Kirsten.

Military parade to celebrate the Army’s 250th anniversary will be held on Trump’s birthday

The Army on Friday confirmed there will be a military parade on Trump’s birthday in June, as part of the celebration around the service’s 250th birthday.

Plans for the parade, as first detailed by The Associated Press on Thursday, call for about 6,600 soldiers to march from Arlington, Virginia, to the National Mall along with 150 vehicles and 50 helicopters. Until recently, the Army’s anniversary festival plans did not include a massive parade, which officials say will cost tens of millions of dollars.

But Trump has long wanted a military parade, and discussions with the Pentagon about having one in conjunction with the anniversary festival began less than two months ago.

The Army’s 250th birthday happens to coincide with Trump’s 79th birthday on June 14.

In a statement Friday, Army spokesperson Steve Warren said the Army’s birthday celebration will include “a spectacular fireworks display, a parade, and a daylong festival on the National Mall.”

Head Start survives Trump administration budget proposal

The Trump administration apparently has backed away from a proposal to eliminate funding for Head Start, the early education program that serves some of the nation’s neediest preschoolers.

Backers of the program were fretting after a leaked Trump administration proposal suggested defunding it. Project 2025, the conservative blueprint drawn up by the Heritage Foundation and co-authored by Trump’s current budget chief, also called for cutting Head Start.

But the budget summary released Friday, which outlined programs set to receive drastic cuts or boosts, did not mention Head Start. An administration official, who insisted on anonymity to preview the budget plan on a call with reporters, said there would be “no changes” to it.