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AXIOS (Neil Irwin) - Washington ignores America's fiscal cliff

The United States faces a dire and unsustainable fiscal outlook . You'd never know it from the action in Washington. - Across parties and policy areas, you'd never guess that the U.S. faces fiscal constraints created by its high-and-rising public debt, ballooning deficits without precedent in times of prosperity, and a looming entitlement spending crisis when the Social Security trust fund runs out. State of play: Consider, instead, recent policy developments that will meaningfully affect the fiscal picture for the worse. - The Trump administration is seeking $200 billion to fund the Iran war and replenish depleted weaponry. - The Supreme Court struck down the administration's use of emergency authority to impose tariffs, and legal…

NYTIMES (Aaron Boxerman) - Israel Orders Military to Intensify Demolitions in Southern Lebanon

Defense Minister Israel Katz instructed troops to destroy more bridges and buildings in southern Lebanon, stoking worries that Israel could expand a military-controlled buffer zone there.

AXIOS (Barak Ravid) - Trump to Iran: Open Hormuz in 48 hours or U.S. bombs power plants

President Trump on Saturday night gave Iran a 48-hour deadline to reopen the Strait of Hormuz or else the U.S. will start destroying Iranian power plants. Why it matters: The threat marks a dramatic reversal from just a day earlier when Trump floated ending the war without reopening the strait, signaling the Hormuz crisis has become the issue he can't walk away from, even as he looks for an exit . Friction point: On Friday afternoon, a little more than 24 hours before Trump's new threat, the president said he was considering "winding down" the war without resolving the closure of the Strait of Hormuz . - If he does walk away without reopening the strait, the U.S. would be leaving other countries to clean up an economic quagmire. -…

NPR (NPR Staff) - Trump threatens to 'obliterate' Iran's power plants as Iran strikes 2 Israeli cities

Iran launched missiles at two southern Israeli cities that lie close to the country's main nuclear research center, while President Trump gave Iran 48 hours to reopen the Strait of Hormuz.