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The Latest Breaking News from Deficit

Trump's tariffs are bringing in a 'very significant' amount of revenue, top analyst says: Roughly $350 billion a year

Fortune's Shawn Tully and Steve "the money doctor" Hanke have argued that they bear a strong, uncanny resemblance to a tax western Europe has had for decades.

Fortune

NFL Fans All Made the Same Joke After Saints FG Trimmed Halftime Deficit to 32

Kellen Moore's decision to attempt a field goal with the Saints trailing by 35 led to many jokes from NFL fans.

Sports Illustrated

Ray Dalio Predicts a 'Debt‑Induced Economic Heart‑Attack' Within 3 Years —Likens U.S. Deficit to Lifetime of 'Overeating Fatty Foods And Smoking'

If anyone knows how to forecast a financial meltdown with the calm of a weatherman calling for rain, it's Ray Dalio.

Benzinga

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read the most diverse news in one place.

I have now been a journalist for 40 years. The forces ranged against my profession have never been so powerful

Once, I believed that humanity’s problem was an information deficit. Now, I know you can’t speak truth to power if power controls your words, says Guardian columnist George Monbiot

The Guardian - UK

UK borrowing hits five-year high for August at £18bn

Worsening public finances mean Rachel Reeves will almost certainly announce tax rises in November budget

The Guardian - UK

Milei Raises Government Spending While Pledging Zero Deficit

With midterms ahead, Milei promises more funding for pensions, health, and education.

Reason

Permanent health tax credit extension would insure 3.8 million: CBO - Roll Call

Democrats are urging action to avoid the year-end expiration of expanded subsidies for buying health insurance on government-run exchanges.

Roll Call

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Why Bessent's Tariff Talk Puts Dollar-Sensitive Stocks On Edge

Stanley Druckenmiller's protégé, Treasury Secretary Scott Bessent, is stirring fresh debate on Wall Street with his latest read on tariffs and trade in a CNBC Squawk Box interview. At first glance, a narrowing U.S. trade deficit with China looks like a policy win, but Bessent warns it could have unintended…

Benzinga

Primark owner delivers warning to Rachel Reeves over ‘mistaken’ rate changes

Chancellor Rachel Reeves faces the daunting task of boosting Treasury revenues to address a potential £40 billion deficit in state finances

The Independent UK

Labor Economist Says Elon Musk Paying Full Social Security Taxes For One Year Could Cut Deficit 5%—So I Asked ChatGPT What Would Really Happen

Nowadays, everyone's trying to get answers out of AI. Ask it to plan a vacation, write a press release, fix a résumé—it'll do all that. But what about when you ask economic questions?

Benzinga

Fitch downgrades France's credit rating amid political crisis

France’s credit downgrade deepens political and economic woes, piling pressure on French President Emmanuel Macron and new Prime Minister Sébastien Lecornu.

Euronews

Russia cuts interest rate to 17% as wartime economy slows while deficit grows

Russia’s central bank is cutting its benchmark interest rate by one percentage point to 17%, a step that could support growth and business activity as the economy slows and the government budget deficit increases

The Independent UK

UK exports to US remain below pre-tariff levels despite improvement

Figures from the Office for National Statistics showed that exports to the US rose by £0.8 billion to £4.7 billion in July.

Evening Standard

Manchester United lose their boots and first leg against Brann in WCL qualifying

Manchester United lost their players’ boots on the way to Norway and will need to overturn a 1-0 deficit in the second leg to reach the Women’s Champions League group stage

The Guardian - UK

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The Conversation

The French economy has a boomer problem and is spending way too much on pensions

Before resigning from his nine-month stint as French prime minister, François Bayrou had claimed that if France failed to cut its public deficit, young people would pay the price “for the sake of the comfort of boomers”.

The National (Scotland)

Here's what we should replace GERS with, and why

This year's GERS figures put Scotland’s public sector deficit figure at £26.2bn, up from £21.4bn the previous year. Maybe there is no one to…

The Independent UK

France's finances are in turmoil. Here's how it came to this

France’s finances and politics are in turmoil

Benzinga

Platinum Market Faces Tightest Conditions In Five Years: Report

The World Platinum Investment Council (WPIC) confirmed that the platinum market remains in a persistent structural deficit, a trend set to continue through 2025.

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Reason

Here's What Would Happen If We Seized All the Wealth From America's 800 Billionaires

Don't comfort yourself with wishful thinking that millionaires and billionaires could take the entire burden of the deficit off our hands.

The Independent UK

Philadelphia mass transit agency gets OK to use project money to avoid bus, trolley and rail cuts

Gov. Josh Shapiro’s administration is approving the use of hundreds of millions of dollars in capital project funding for Philadelphia’s public transit agency to help it restore bus, trolley and rail services that it had eliminated to shore up its deficit-riddled finances

Euronews

French Prime Minister François Bayrou loses crucial confidence vote in parliament

The centrist leader, who became France’s fourth head of government in less than two years, lost his gamble after calling an unprecedented confidence vote over his austerity plans to rein in the country’s ballooning public deficit.

Euronews

French political crisis threatens country's influence over the EU

France’s political paralysis is shaking the EU: chronic instability and unpopular budget cuts weaken Paris’ influence just as Italy under Meloni gains ground, pushing for key EU roles and shaping the bloc’s future while France struggles at home.

Fortune

U.S. may have to refund half its tariff revenue as high-stakes court battle threatens to wreak havoc on the deficit and bond market

"This alone would raise further concerns about the fiscal outlook and likely push bond yields higher."

Euronews

Political instability in France: What are the potential consequences for the EU?

The possible fall of the government could weaken France on the European stage.

Radio France Internationale

Would tax hikes for the wealthiest really drive them to flee France?

The French government is looking to slash its deficit by €44 billion, with ministers favouring spending cuts over tax increases on the wealthy. But new research challenges a key government argument that higher taxes would trigger a mass exodus of the rich.

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