The U.S. national debt hit a record high this week, topping $40 trillion. That’s double what it was in 2016 at the start of President Trump's first term. Most of that spending is going toward rising military costs, programs like Social Security and Medicare, and Trump's tax cuts. The war in Iran has already cost the U.S. more than $34 billion, according to the Center for Strategic and International Studies.

And, as NFL season approaches, CBS is moving forward with its coverage while Tony Romo remains on leave following his arrest. There’s no timetable yet for his return. In the meantime, CBS Sports President David Berson says three-time NFL Defensive Player of the Year J.J. Watt will join Jim Nantz and Tracy Wolfson as the network’s lead broadcast team. Romo was arrested in July on suspicion of impaired driving and is scheduled to appear in court on September 21.

Meanwhile, several coaches at El Camino Real Charter High School have been placed on administrative leave while the school investigates allegations surrounding CPR and first-aid certification. The L.A. Times reports certification cards used by some coaches could not be verified in a Red Cross database. Parents say some were escorted off campus, including a longtime baseball coach. This comes just weeks after the Woodland Hills school replaced its executive director and assistant principal overseeing athletics.

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A record number of kindergartners are starting school this year, without required vaccinations, with new federal data showing that exemption rates are hitting an all-time high for the fourth year in a row.

After nearly 50 years, the Buss family’s run as owners of the Los Angeles Lakers could be coming to an end. The family has reportedly agreed to sell its remaining stake to new majority owners Bob Iger and Josh Kushner, but Jeanie Buss and her attorneys have come out to say she was not on board with the decision and plans to challenge the sale. Jeanie Buss would lose her position as Lakers governor should the deal – which still needs NBA approval – move forward.

And, Meta, the parent company of Facebook and Instagram headed by Mark Zuckerberg, is facing a major legal battle after losing two key pretrial rulings. Attorneys general from California and other states accuse Meta of designing Facebook and Instagram to keep young users hooked on the platform, while downplaying potential risks to their mental health and well-being. It’s the first of thousands of similar federal lawsuits against the social media giant.

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New data shows 24 million Americans traveled to Europe in 2025 alone — a record high, led by trips to the UK, France, and Italy. But the boom isn't reaching everyone equally: the wealthiest households are driving the surge, and by age, travelers 55-64 led the way, followed by 18-24 year olds.

And, a new UC Berkeley Institute of Governmental Studies poll, co-sponsored by the Los Angeles Times, shows California voters are divided on two major ballot measures ahead of the November election. Proposition 40, a one-time tax on billionaires to help fund healthcare, holds a narrow lead, while Proposition 39, which would require voter ID and citizenship verification, is currently opposed by a majority of likely voters.

Finally, rookie quarterback Ty Simpson impressed in his first NFL action, completing 21 of 25 passes for 190 yards and two touchdowns in the Rams' 20-12 preseason win over the Kansas City Chiefs. Head coach Sean McVay praised Simpson's command of the offense, while the performance adds intrigue to the battle for the Rams' backup quarterback job behind Matthew Stafford.

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Former Disney CEO Bob Iger and venture capitalist Josh Kushner are set to buy the Los Angeles Lakers for more than $12 billion — just over a year after Mark Walter took a controlling stake at a then-record $10 billion. The sale still needs NBA Board of Governors approval, which could take a few weeks.

And, federal health officials say jalapeños imported from Mexico are the likely source of a salmonella outbreak that has sickened at least 345 people across 27 states. Taylor Farms is recalling a wide range of ready-to-eat products from major retailers, including Trader Joe’s, Target, and Walmart.  See the full list of recalled products at https://www.latimes.com/california/story/2026-08-11/taylor-farms-recall-expands-to-jalapenos-pulled-from-trader-joes-target.

Finally, Spotify is rolling out a new “AI Persona” label for artists who were created with artificial intelligence. Starting in mid-September, those AI artists will also be excluded from Spotify’s personalized mixes and Discovery playlists. The platform will use both AI detection and human review to identify AI artists, and an appeals process will be available.

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Nvidia is partnering up with six asset managers, including BlackRock and Goldman Sachs, to bring half a trillion dollars into AI infrastructure — chips, power plants, and data centers. Nvidia CEO Jensen Huang says the goal is to connect its customers with lenders for loans and credit, though key details about the project remain unclear.  BlackRock’s Larry Fink says the move reminds him of the creation of mortgage-backed securities, treating AI compute as a new investable asset class.

Nithya Raman could lose her leadership role as chair of Los Angeles City Council’s Housing and Homelessness Committee. Council President Marqueece Harris-Dawson plans to split the committee into separate housing and homelessness panels, with Raman no longer leading either one. The political shakeup comes as Raman challenges incumbent Karen Bass for mayor of Los Angeles. Raman is accusing city leaders of political retaliation, while the Bass campaign is criticizing Raman’s record on homelessness. Homelessness remains one of the driving issues of the mayoral race.

Disney+ and Hulu are expanding their podcast offerings through a new deal with iHeartMedia. The partnership brings popular video podcasts — including "Hey Jonas!" with the Jonas Brothers and "Pod Meets World" — to the streaming platforms, with more shows arriving this fall.

And, Jackie, arguably the world’s most famous bald eagle, dies after mysterious illness.

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The S&P 500 closed at a record high on Tuesday. Faith Pinnow from L.A. Times Studios breaks down what's driving the rally — from strong second-quarter earnings reports to growing optimism around a potential Iran ceasefire and the reopening of the Strait of Hormuz. Plus: a look back at how far the index has come since 1957.

California lawmakers have rejected a proposal that would have phased out pesticides containing PFAS, also known as "forever chemicals," on farms across the state. Supporters cited health concerns linked to PFAS exposure, while agricultural groups argued a ban would hurt farmers and limit crop protection tools. The revised bill now focuses on publicly identifying pesticides that contain PFAS.

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President Trump is threatening to drop Todd Blanche as his pick for Attorney General until he can lock down Senate approval. The warning comes after Republican Senators Thom Tillis and John Cornyn signaled they'd vote no — both objecting to a deal Blanche struck settling Trump's IRS lawsuit, including a controversial "anti-weaponization fund" Cornyn says protects Trump and his family from tax audits.

Plus, the Federal Reserve holds interest rates steady, even as inflation sits above the central bank’s target, with the war in Iran disrupting trade routes and pushing energy prices higher.

Meanwhile, The financial empire of Dodgers and Lakers owner Mark Walter is reportedly under investigation by federal prosecutors and the Securities and Exchange Commission over $16 billion in loans tied to companies he controls. Authorities are examining whether the transactions were properly disclosed, while Walter's representatives say he acted in good faith and is cooperating with investigators.

And, Major record labels — including Sony Music, Universal Music Group, and Warner Music Group — are proposing new standards for how AI-generated music should be treated on official music charts. The guidelines say the songs can chart, but must meet strict requirements around copyright and human involvement. Songs that rely on fake streams or chart manipulation would also be disqualified. This comes as streaming platforms see a boom in AI-assisted songs, raising concerns about the future of the music industry.

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Truth Social's new Truth API is set to launch August 1, offering paying clients real-time access to posts from President Trump and other top administration officials. The service reportedly costs $100,000 per month and is designed to help institutional investors react to breaking news in milliseconds.

L.A. Times Studios' Faith Pinnow speaks with former White House chief ethics lawyer Richard Painter, who argues the service raises significant ethics and legal questions. He explains why he believes giving paying firms faster access to market-moving information could create an unfair advantage, benefit the president financially, and potentially draw scrutiny from federal regulators.

And, Los Angeles is in the midst of an unusually humid weather pattern, making this summer feel much hotter than normal and contributing to more heat-related emergency room visits across LA County. Meteorologists say monsoon moisture, tropical storm remnants and warm ocean waters are to blame.

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Trump Media & Technology Group is launching a new service that gives paying customers real time access to President Donald Trump's Truth Social posts, potentially milliseconds before others see them. The new "Truth API" could benefit institutional investors and high frequency trading firms, where even fractions of a second can be worth millions of dollars.

In this episode, we speak with L.A. Times business columnist Michael Hiltzik about the legal and ethical questions surrounding the service, why Wall Street reacts so quickly to the president's posts, and whether the $100,000 per month product could become a major new source of revenue for Trump Media as the company looks to offset steep financial losses.

Netflix has acquired Ben Affleck's AI film-tech startup, InterPositive, for $587 million. The company says the technology will help speed up filmmaking while keeping creators in control, as Hollywood continues to debate the future of AI in entertainment.

A Los Angeles Times investigation found that homeless nonprofit A Step to Freedom paid more than $1.7 million to companies owned by its CEO over three years. County officials later determined the food service contract created a conflict of interest, though no criminal allegations have been made against the organization.

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President Trump is threatening to bomb Iranian bridges and power plants for every attack Iran carries out against ships in the Strait of Hormuz, marking a dramatic escalation in the nearly five month conflict. Iran is warning of an "eye for an eye" response, while attacks in the Red Sea and rising oil prices are fueling concerns the war could spiral into a wider regional conflict.

Meanwhile, lawmakers have introduced the bipartisan "AI Kill Switch Act," which would require the nation's largest AI companies to build emergency shutdown capabilities into their most advanced systems. The proposal comes just days after OpenAI disclosed an unprecedented cyber incident in which one of its AI models hacked another company's servers, reigniting debate over how to regulate rapidly advancing artificial intelligence.

And, Dodgers rookie catcher Dalton Rushing snapped out of a slump during Dodgers’ win over Phillies before the team is set to visit the White House, Thursday.

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The Trump administration is withholding an additional $1 billion in Medicaid funding from California and Minnesota, marking the second time this year the federal government has targeted the states' public health insurance programs over suspected fraud. While the withheld funds make up a relatively small share of each state's Medicaid budget, the loss could still impact programs providing behavioral therapy for children with autism and in-home care services helping people with daily tasks like bathing, eating, and taking medications. 

Meanwhile, the average cost of living in Miami is now more expensive than in the New York City metropolitan area, according to the Bureau of Economic Analysis, with housing in Miami about 5% higher than in the New York area. Once seen as the cheaper alternative to New York with the added attraction of no state income tax, Miami has gotten pricier as the ultra-wealthy are buying properties there. In Palm Beach, firms like BlackRock and Redbird Capital Partners are opening up new offices, earning the area a new nickname: "Wall Street South."

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