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The Latest Breaking News from Deficit

The U.S. borrowed $50 billion a week for the past five months, finds the CBO: 'Our fiscal problems will not solve themselves'

"We need policymakers to come together, agree to reduce deficits ... and put our national debt on a downward sustainable path as a share of the economy."

Fortune

Why Victor Wembanyama Was So Emotional After Spurs’ Dramatic Comeback Win Over Clippers

San Antonio came back from a whopping 25-point deficit Friday to secure the team’s 14th win in the past 15 games, which choked up Victor Wembanyama.

Sports Illustrated

CBO highlights the good news in Trump’s lost tariff revenue hiking the deficit by $2 trillion: Lower inflation and unemployment—and higher GDP

In the past year, tariffs were, at least partly, responsible for 166,000 lost blue-collar jobs and $1,700 in annual increased costs for American households.

Fortune

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Long-run shock in Australia: George Russell and Mercedes tear the competition apart

While Ferrari and McLaren topped the times in Friday practice, it’s Mercedes that could be the team to beat come Sunday, here’s why

Motorsport

Trump touts tariffs as a budget fix. But the brutal truth is ‘they’re very weak’ and barely dent the $39 trillion national debt

An international tax policy expert told Fortune any form of tariff fails to “move the needle one way or the other.”

Fortune

Democratic attorneys general challenge Trump's newest tariffs

A group of Democratic attorneys general filed a lawsuit Thursday challenging the tariffs President Donald Trump adopted last month.

Roll Call

What does a house mean to you? We asked some women who head households in South Africa

South Africa’s new democratic government inherited a 1.5 million housing backlog in 1994, which it has been struggling to close. The current national deficit stands at 2 million.

The Conversation

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Girls are believing less and less that they can reach the top levels of sport – how can we bridge the 'dream deficit'?

Women in Sport found that girls are experiencing dropping aspirations when it comes to believing they can reach the top of their sports. What's cycling doing about it?

Cycling Weekly

Here’s Warren Buffett’s Plan To Eliminate America’s Debt ‘in 5 Minutes’ — What Do You Think?

In an interview, Buffett said, "I could end the deficit in five minutes." Could his plan work?

GOBankingRates

Sky-high teacher salaries push Oakland schools toward $50M deficit, Board member sounds alarm

A massive teacher pay raise in Oakland has put the cash-strapped school district on edge, with one board member calling the deal “financially impossible.”

The Times of India

The mountain Yamaha has to climb with its V4-powered MotoGP contender

Statistics from the Thailand Grand Prix shows how far away Yamaha is after switching to an all-new V4 engine

Motorsport

Cuba Faces Up to 20-Hour Daily Blackouts as Electricity Shortfall Hits Record Levels

Cuba is bracing for power outages affecting almost two-thirds of the population during peak demand hours, as the state utility projects an electricity deficit of almost 2,000 megawatts, the highest level of disconnection recorded since systematic energy data began in 2022.

Latin Times

Why the UK’s trade deficit makes household bills so vulnerable to global shocks

The UK’s trade deficit of goods is the widest it has ever been. In 2025, the country spent £248.3 billion more on things than it sold to the rest of the world.

The Conversation

Trump’s action against Iran is yet another wobble for government debt, warns UBS

“President Trump indicated attacks could go on for four or five weeks, and there are already reports of a need to urgently replenish weapons stockpiles. That potentially adds to the fiscal deficit,” noted Paul Donovan of UBS.

Fortune

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Fortune

Why Ray Dalio, Scott Bessent and others are rallying around a '3% solution' to the national debt

Bipartisan consensus is building in support of lowering the gulf between revenues and outlays to 3% of GDP.

Reason

Mamdani Reportedly Pushes $70 Million Grocery Store Proposal Amid $5.4 Billion Budget Gap

Amid a $5.4 billion budget deficit, the mayor of New York City is pushing forward with a proposal that has historically yielded terrible results.

The Independent UK

Georgia's child welfare system remains shaken after projected $85.7 million budget shortfall

Georgia’s child welfare agency spiraled into crisis amid an $85.7 million shortfall and although lawmakers voted to fill it, the impacts will last

The Guardian - UK

Chelsea made English record £355m loss in 2024-25 season, Uefa data reveals

Chelsea made a financial loss of £355m in the 2024-25 season, the biggest deficit ever recorded by an English football club

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Fortune

Trump claims America is ‘winning so much.’ The IMF agrees, adding that Trump’s trade policies are the only thing holding it back from even more

The best time to chip away at the national debt and balance the budget is now, when the economy is strong, says the IMF. Trump’s trade tariffs are making that difficult.

Fortune

Come 2030, the U.S. deficit will be worth 5.9% of GDP—more than the outlays for Social Security, and equal to spending on major health programs

Come 2030, the annual deficit will be worth roughly 5.9% of GDP, on par with provisions set aside for health and Social Security programs, and well ahead of calls to reduce deficits to 3% of GDP.

The Independent UK

Tracey Emin calls for donations from the wealthy to keep museums free for the public

Emin’s comments come after the National Gallery revealed an £8.2m deficit

Fortune

America’s $901 billion trade deficit is like ‘chronically high cholesterol,’ top economist says, and Trump’s 150-day tariffs are the wrong medicine

Trump’s trade policy risks confusing one problem with a much bigger crisis, according to Harvard professor Gita Gopinath.

The Conversation

The Supreme Court has curbed Trump’s ability to bully his allies. But tariffs were never going to end the US trade deficit

New US tariffs set at 10% have come into effect, days after the country’s Supreme Court blocked the bulk of President Donald Trump’s sweeping import taxes. The shock move came as a major blow to the president’s determination to rebalance US trade and bring manufacturing back home.

Reason

Trump's Rationale for His New Tariffs Contradicts the Position He Took Before His Supreme Court Defeat

The president is relying on a provision that the government's lawyers said had no "obvious application" to his goal of reducing the trade deficit.

Fortune

Trump’s tariffs: a lesson in economic and legal ignorance

Have tariffs created more jobs, or an economic boom? Not if you look at the data.

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