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The Latest Breaking News from Deficit

Ross Gerber Touts An Idea To Cut Deficit By Trillions Of Dollars: 'Let The Tax Cuts Expire And Full SALT Come Back'

As the One Big Beautiful Bill Act of 2025 proposes tax relief for individuals, it is also estimated to increase the federal deficit. However, this expert proposes an idea that could help cut trillions of dollars in deficit.

Benzinga

Crude Oil Falls Sharply; US Current Account Deficit Widens In Q1

U.S. stocks traded higher midway through trading, with the Dow Jones index gaining more than 1% on Tuesday.

Benzinga

Housing push the centrepiece of NSW budget which projects $3.43bn deficit next financial year

Financial position of Australia’s most populous state then expected to improve with a projected surplus by 2027-28

The Guardian - AU

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Health levy a bitter pill to mend sick territory budget

Ratepayers will cop a $250 levy to help plug a health funding shortfall in the ACT budget, which also included investment in housing and cost-of-living relief.

AAP

João Almeida flies to TT victory to take Tour de Suisse title ahead of Kévin Vauquelin and Oscar Onley

'It was a lesson, you should never give up' says Almeida after overturning a 3-minute deficit from day one

Cycling Weekly

More Than a Monetary Metal: Silver's Case for Outperformance

A persistent supply deficit and surging industrial demand create a powerful investment thesis for silver, supported by a favorable macroeconomic backdrop.

MarketBeat

Spotlight on inflation as state treasurers come clean

Monthly inflation data and state budget updates are set to dominate the economic agenda and shape the Reserve Bank's next cash rate call.

AAP

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Gold prices should hit $4,000 as U.S. deficits may overshadow the Israel-Iran conflict, BofA says

“While the war between Israel and Iran can always escalate, conflicts are not usually a sustained bullish price driver.”

Fortune

GOP Lawmakers Issue Ultimatum to Demand Changes to Trump's 'Big, Beautiful Bill' or Face Rejection: 'All Three of Us Have to Be Yes'

A trio of Senate conservatives threaten to derail budget reconciliation unless GOP leaders agree to steep spending cuts and rollbacks of green energy subsidies.

Latin Times

Reeves may need to raise taxes by £20bn in autumn after UK borrowing rises

May figure second highest for month on record amid fears chancellor is struggling to keep within spending rules

The Guardian - UK

‘Nobody’s pushed back on my numbers’: Lone GOP senator revolts against party’s $2.8 trillion deficit-busting megabill

Ron Johnson stands alone against fiscal fantasy.

We Got This Covered

University principal and senior staff quit after report on finances

The University of Dundee has been struggling to deal with a £35 million deficit.

Evening Standard

Goldman Sachs says Trump’s spending plan won’t stop the national debt from hitting ‘unsustainable’ highs not seen since World War II

If borrowing costs remain high, future lawmakers could be left in a tough spot.

Fortune

The 'Big Beautiful Bill' Will Require Even More Borrowing Than Previously Thought

After accounting for the dynamic effects of the Trump-backed tax bill, the CBO concludes it will add $2.8 trillion to the deficit over 10 years.

Reason

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The Independent UK

Japan records trade deficit as exports suffer from Trump's tariffs

Japan has reported its exports fell in May as shipments of autos to the U.S. dropped nearly 25% from a year earlier due to higher tariffs imposed by President Donald Trump

The Guardian - UK

Over half of English councils face insolvency under £5bn deficit, MPs warn

Public accounts committee calls on government to urgently address deficit on high needs spending hitting at end of financial year

Latin Times

GOP Lawmaker Declares He's 'Not Voting for a Bill That Grows Deficits' in Critique of Trump's 'Big, Beautiful Bill'

A Republican lawmaker went against his party, stating that he will not vote for the "one big, beautiful bill" due to the deficits it will create if passed.

The Independent UK

The Tiger Woods story that inspired JJ Spaun to US Open glory

Spaun produced a remarkable turnaround in the final round to recover from a four-shot deficit at the halfway point

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The Guardian - US

Gilgeous-Alexander blows up late as Thunder see off Indy to level NBA finals

The Thunder stormed back from a 10-point second-half deficit to beat the Pacers 111–104 on Friday night, evening the NBA finals at two games apiece

The Guardian - UK

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

Sports Illustrated

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.

The Independent UK

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.

Barchart

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...

Roll Call

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.

Reason

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.

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