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The Latest Breaking News from Deficit

Councils in England warn of mass bankruptcies as Send deficits soar

Local authorities say a £5bn shortfall in special needs funding could leave dozens effectively insolvent within months

The Guardian - UK

Oilers Make Stanley Cup Final History in Stunning Comeback Win vs. Panthers

The Oilers erased a 3–0 deficit to stage a historic comeback in Game 4 of Stanley Cup Final.

Sports Illustrated

Trump’s policies could have a major impact on your credit score. Here’s how

President Donald Trump’s “One Big Beautiful Bill” would likely add trillions to the country’s deficit and drive up interest rates.

The Independent UK

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Dollar Falls with Bond Yields on a Dovish US CPI Report

The dollar index (DXY00 ) Wednesday fell by -0.43%. The dollar erased an overnight rally and turned lower after Wednesday’s Fed-friendly US May CPI report bolstered expectations for the Fed to cut interest rates later this year. Also, the wider-than-expected US May federal budget deficit was bearish for the dollar...

Barchart

Bessent, House Democrats spar over budget package's debt boost - Roll Call

Democrats questioned Treasury Secretary Scott Bessent over the effect of Republicans’ “big, beautiful” reconciliation bill on the debt.

Roll Call

Why Can't Elon Musk and Donald Trump Both Win?

In a petty, public war of words, Trump threatens to cut off federal support to Musk's companies after the billionaire attacked his deficit-busting budget bill.

Reason

Thunder Make Abysmal NBA History With Devastating Game 1 Stat In Loss

Oklahoma City had a stat edge that no NBA playoff team had lost with before.

Sports Illustrated

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Trump's Tax-Cut Bill Would Leave 11M More People Uninsured in 10 Years, Bump Federal Deficit by $2.4T

US President Donald Trump's tax cut bill could increase the federal deficit by trillions of dollars and strip 11 million Americans of health insurance coverage, primarily Medicaid, through 2034.

International Business Times UK

Elon Musk Supports Warren Buffett’s Idea to Ban All Members of Congress from Re-election if the Deficit Exceeds 3% of U.S. GDP

Buffett and Musk back a proposal barring Congress from reelection if the deficit exceeds 3% of GDP, sparking bipartisan debate on spending.

Barchart

Republican Lawmaker Insists His Party is 'Stuck' Trying to Pass Trump's 'Big, Beautiful Bill' Despite Being Against Raising the Deficit

Texas Rep. Pete Sessions admitted Republicans feel forced to back Donald Trump's costly reconciliation bill despite concerns about raising the deficit.

Latin Times

Pope Leo XIV Ushers in Era of Cautious Reform as Vatican Faces £66m Deficit

Pope Leo XIV, the first US pontiff, takes a cautious, listening-first approach, sidestepping Francis' bold style. Can he unify a divided Church and fix Vatican finances?

International Business Times UK

Half of London boroughs face bankruptcy over schools funding crisis

Sixteen of the capitals 33 local authorities have said they face ‘severe budget deficits’ totalling £500million next year over school funding shortfalls

Evening Standard

The 'Big Beautiful Bill' Will Add $2.4 Trillion to the Deficit

That total will rise to about $3 trillion once the interest costs of more borrowing are included.

Reason

Trump "furious" with Musk

Musk has criticized the Trump-backed "Big Beautiful Bill," noting it would expand the federal deficit

Salon

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Roll Call

CBO sees lower deficits from tariffs, but with big caveats - Roll Call

The analysis came before federal court decisions on tariffs last week and doesn’t account for potential changes to tariff policy.

Roll Call

CBO pegs 'big, beautiful' bill price tag at $2.4T - Roll Call

The House GOP budget bill would increase deficits and result in nearly 11 million individuals losing access to health insurance, CBO found.

Fortune

Elon Musk is on a national debt crusade after slamming Trump's spending bill

Jamie Dimon, Warren Buffett, Ray Dalio, Jerome Powell—and now Elon Musk, are all sounding the alarm on America's national debt.

The Guardian - US

Trump issues travel ban barring US entry from 12 countries and signs order restricting student visas at Harvard – as it happened

Order also restricts entries from seven other countries, as separate proclamation bars students from obtaining visas to enter country to attend Harvard

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Salon

Musk calls spending bill "disgusting"

Musk expressed his distaste with the GOP-led spending bill, which could raise the federal deficit by trillions

The Guardian - US

Elon Musk calls Trump’s ‘big, beautiful’ tax bill a ‘disgusting abomination’

The former head of Doge said the ‘outrageous’ tax bill would cause the deficit to grow to $2.5tn

Fortune

Treasury head Scott Bessent says Jamie Dimon should relax about the bond markets: ‘For his entire career he’s made predictions…none of them have come true’

Rising interest rates on U.S. debt seem to back up Dimon’s concern about government spending, but the Treasury secretary says it’s not as bad as it seems.

Motorsport

Analysis: What went wrong at Red Bull before Max Verstappen clashed with George Russell

Max Verstappen’s deficit to Oscar Piastri nearly doubled in Barcelona. With three additional penalty points, he also faces the threat of a race ban. What has gone wrong? Here is a look at Verstappen’s clash with George Russell and Red Bull’s mistakes that preceded it.

Roll Call

A look at key flashpoints in the coming Senate reconciliation debate - Roll Call

A look at key flashpoints in the coming Senate reconciliation debate - Uncategorized

Autosport

Analysis: What went wrong at Red Bull before the Verstappen-Russell clash

International Business Times UK

Investors Follow Warren Buffett to Ramp Ultrashort Treasury Bets as Longer-Term Bills Face Volatility

Investors are piling cash into short-term US T-bills with stable yields as market jitters driven by tariffs and federal deficits affect the long end outlook.

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