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The Latest Breaking News from Deficit

Trump’s tax bill helps the rich, hurts the poor and adds trillions to the deficit

The ‘big, beautiful bill’ has reaffirmed that a pledged golden age is really just a windfall for the uber-wealthy

The Guardian - US

Elon Musk leaves a mess for Trump and Mike Johnson with DOGE exit

ANALYSIS: Analysis: Musk’s deficit comments give conservatives the political cover they’d need to defy Trump and the White House, writes John Bowden

The Independent UK

Trump Tries to Tame DOGE with 'Big, Beautiful Bill'—But the Court Says Musk Still Runs the Show

Elon Musk voiced disappointment with the 'One Big Beautiful Bill Act,' a Trump-backed Republican spending bill, citing its projected £2.8 trillion deficit increase by 2034.

International Business Times UK

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Checking the math on White House, GOP claims about ‘Big Beautiful Bill’ - Roll Call

Republicans say the 'big beautiful bill' will reduce the deficit, but economists say making the tax cuts permanent will do the opposite.

Roll Call

F1 title gamechanger? Spanish GP awaits impact of new flexi-wing rule

McLaren’s advantage is substantial, but their rivals will hope a new regulation can narrow the deficit

The Independent UK

One Nation claims WA Senate seat – as it happened

This blog is now closed

The Guardian - AU

Liberal debt to double, state companies face sell-off

A state government is hanging its hat on potential asset sales and a public sector "efficiency unit" as means to pay down ballooning budget debt.

AAP

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Musk "disappointed" by GOP spending plan

In an interview released Tuesday night, Musk complained that the bill would increase the federal deficit

Salon

Elon Musk says he's 'disappointed' in Trump's new spending bill because it 'undermines the work that the DOGE team is doing'

Musk says he is "disappointed" by Trump's "Big, Beautiful Bill," claiming it will undo all of the cost-cutting efficiencies brought in by DOGE.

Fortune

Trump given 10 days to rescind all tariffs after block by US federal trade court - as it happened

Three-judge panel rules president exceeded authority granted to him by 1977 emergency powers law. This blog is now closed.

The Guardian - US

‘Higher than any other sustained stretch in U.S. history’: GOP bill threatens to make America two-thirds of global deficit problem

Another chapter in making America "great."

We Got This Covered

The Guardian view on Trump’s ‘big beautiful bill’: reject the con of a class-war manifesto

Editorial: The Republican budget proposal is a gift to plutocrats. Democrats should clearly make the case for deficits to work for the people

The Guardian - UK

What is modern monetary theory? An economist explains how it could help Canada

Few words spark more anxiety in public debate than “national debt” and “government deficit.” National debt is the total amount of money the government owes, accumulated over years of running deficits. Government deficit is when the government spends more money than it collects in taxes and other revenues.

The Conversation

Republican Senators Threaten To Derail Trump's 'Big, Beautiful' Bill: 'Would Explode The Debt'

Republican Sen. Rand Paul said Trump's spending and tax cut bill would "explode the debt." Ron Johnson said the bill won't pass "until the president gets serious about spending reduction and reducing the deficit."

Latin Times

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Salon

Paul: Trump bill "math doesn't add up"

The senator from Kentucky says Trump's cost-cutting bill will actually supercharge the deficit

Golf Monthly

Where Does This Tour Pro's Mammoth Final Round Comeback Rank In Terms Of Golf's Largest Ever

Kristoffer Reitan fired a nine-under-par course record of 62 at Rinkven International Golf Club, overcoming a nine shot deficit in the process

The Guardian - US

Top Republicans threaten to block Trump’s spending bill if national debt is not reduced

Prominent US senators warn Trump to ‘get serious’ about addressing budget deficit or they will block ‘beautiful bill’

Golf Monthly

Kristoffer Reitan Wins Soudal Open In Playoff After Overcoming Nine-Stroke Deficit Via Course Record On Stunning Final Day

Norway's Kristoffer Reitan broke the course record at Rinkven International and then won his first DP World Tour title in a playoff at the Soudal Open

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Salon

GOP cuts make Trump touch the third rail

Republicans are raising the deficit so high that it may trigger sequestration and mandatory cuts to Medicare

Fortune

Yields hit housing bubble levels. Get ready for higher rates

A ballooning deficit and higher inflation could keep long-term interest rates elevated.

Fortune

Ray Dalio says politicians addressing U.S. budget deficit are like passengers ‘on a boat that’s headed for rocks’

Dalio says no attempts to reduce the deficit will be made until after the 2026 midterm elections.

Kiplinger

Tax Reconciliation Bill Could Trigger $500 Billion in Mandatory Medicare Cuts

The deficits caused by the tax bill would trigger the Statutory Pay-As-You-Go Act of 2010 and force billions in cuts to Medicare. However, Congress can block the implementation of the cuts.

Barchart

Stocks Settle Mixed on Concerns Over Trade Policy and the Fiscal Outlook

The S&P 500 Index ($SPX ) (SPY ) Thursday closed down -0.04%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed unchanged, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.15%. June E-mini S&P futures (ESM25 ) are down -0.05%, and June E-mini Nasdaq futures (NQM25...

Barchart

Stocks Stabilize as Bond Yields Slip

The S&P 500 Index ($SPX ) (SPY ) today is down -0.02%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.08%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.40%. June E-mini S&P futures (ESM25 ) are down -0.03%, and June E-mini Nasdaq futures...

Roll Call

Sweeping budget package passes House after weeks of arm-twisting - Roll Call

House Republicans passed their "big, beautiful" reconciliation bill early Thursday morning, sending to the Senate a filibuster-proof package.

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