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The Latest Breaking News from Deficit

Elon Musk Backs Warren Buffett's Brutal '5-Minute Deficit Fix' To Ban Congress From Reelection If They Blow the Budget: '100% This Is the Way'

More than a decade ago, Warren Buffett said the national deficit could be solved in just five minutes. His plan? "You just pass a law that says that any time there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for reelection."

Benzinga

Elon Musk revives third party idea after ‘One Big Beautiful Bill’ passes

The billionaire Tesla founder has clashed with President Donald Trump over the bill’s increase to the US deficit.

Al Jazeera

What is in Trump's tax and spending bill that will soon become law?

The bill is set to massively widen the US’ budget deficit and leave an added 12 million Americans without health insurance.

Euronews

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Stocks Rally as US Payroll Report Encourages Economic Optimism

The S&P 500 Index ($SPX ) (SPY ) on Thursday closed up +0.83%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.77%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.99%. September E-mini S&P futures (ESU25 ) rose +0.77%, and September E-mini Nasdaq futures...

Barchart

US Trade Deficit Widens In May As Trump Tariffs Fuel Uncertainty

The US trade deficit widened more than expected in May, with both imports and exports declining as US President Donald Trump's tariffs sent shock waves through the economy and snagged supply chains.

International Business Times

Stocks Rally on the Stronger-Than-Expected US Payroll Report

The S&P 500 Index ($SPX ) (SPY ) today is up +0.63%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.60%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.65%. September E-mini S&P futures (ESU25 ) are up +0.46%, and September E-mini Nasdaq futures...

Barchart

Starmer backs Reeves after chancellor cries in Commons following welfare revolt

Keir Starmer has publicly supported chancellor Rachel Reeves after she was crying and appeared visibly distressed in parliament. Reeves' distress followed government U-turns on welfare reforms, which created a deficit in her budget plans. The welfare reform bill passed only after measures intended to generate long-term savings were removed. Some…

The Independent UK

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Gary Black Counterns Elon Musk's Bankruptcy Warning, Says US Debt 'Fairly Low' At 125% Of GDP

Financial analyst Gary Black, the managing partner at the Future Fund LLC, has issued a bold take on the U.S. fiscal health, likening the nation's debt to corporate debt levels and calling it “fairly low.”

Benzinga

Dollar Slips on Trade Uncertainty and Rising US Deficits

The dollar index (DXY00 ) on Tuesday fell by -0.13%. The dollar on Tuesday added to Monday's losses and posted a 3-1/3 year low. The dollar remains under pressure due to uncertainties over US trade policies, with many nations trying to negotiate trade deals with the US before President Trump's...

Barchart

Elon Musk and Most Taxpayers Don't Like What's in Trump's 'Big Beautiful Bill'

President Trump is betting big on his newest tax cuts, signed into law on July 4. But not everyone is on board.

Kiplinger

What’s in Trump’s major tax bill? Extended cuts, deportations and more

Donald Trump’s sweeping legislation boosts the wealthy, funds a border wall and risks $3tn deficit before his term ends

The Guardian - US

Peter Thiel Says Elon Musk Vision Of A Billion Humanoid Robots In Ten Years Makes All The Hand-Wringing Over Deficits Look 'Unthought-Through'

Billionaire investor Peter Thiel says Elon Musk's plan for "a billion humanoid robots in the U.S. in 10 years" collides with the Tesla chief's alarm over ballooning federal deficits, proof, Thiel argues, that Musk hasn't “thought through" the proposition just yet.

Benzinga

Ray Dalio Says Politicians That Promise Not To 'Raise Your Taxes' Not Aligned With Preventing A 'Big' Debt, Dollar Crisis: 'To Me, That's A Tragedy'

Billionaire investor Ray Dalio is sounding the alarm on what he calls an inevitable “debt/dollar crisis” unless U.S. policymakers confront the country's ballooning fiscal deficit with a mix of tax increases and spending cuts.

Benzinga

Musk vows to unseat lawmakers who support Trump’s sweeping spending bill

Tesla CEO also threatened forming an ‘America Party’ if the bill, which would increase US deficit by $3.3tn, is passed

The Guardian - US

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Reason

Senate's Tax Bill Will Add $270 Billion to the Deficit Next Year, Despite Gimmicks

The House-passed version of the One Big Beautiful Bill Act was fiscally irresponsible. The Senate has made the bill worse.

Barchart

Dollar Slips on Trade Uncertainties and Threats of Soaring Deficits

The dollar index (DXY00 ) is down by -0.20% and posted a 3-1/4 year low. The dollar remains under pressure on uncertainties over US trade policies with many nations trying to negotiate trade deals with the US before President Trump's July 9 deadline. Also, rising deficits are bearish for the...

Benzinga

Elon Musk's Birthday Wish: Kill The Bill Before It Kills The Economy

On June 28, his 54th birthday, Elon Musk didn't post celebratory photos or launch a new product.

The Independent UK

Lando Norris sets sights on British Grand Prix victory after win in Austria

The Briton has reduced the title deficit to Piastri to 15 points ahead of round 12 next week at Silverstone

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Benzinga

Is The Bond Market Panic Overblown And Being Driven By Inexperienced Investors? Morgan Stanley Thinks So

President Donald Trump's tariffs have had several unintended effects on the economy, but the unease they have created in the bond market has surprised investors around the globe. The tariffs sparked a bond market sell-off, and there was a second selloff after Congress passed Trump's "big beautiful bill." Concerns over…

The Independent UK

Pope Leo XIV marks feast day as Vatican launches campaign to help erase its $57-68 million deficit

Pope Leo XIV is marking a feast day as the Vatican launches a new campaign to boost donations from the faithful

We Got This Covered

Adam Kinzinger hits Trump where it hurts him most, proving math is not the president’s friend

Kinzinger's sarcasm strikes a nerve.

Barchart

Concern Over Brazil's Sugar Supplies Lifts Prices

July NY world sugar #11 (SBN25 ) Friday closed up +0.16 (+1.02%), and August London ICE white sugar #5 (SWQ25 ) closed up +6.80 (+1.42%). Sugar prices moved sharply higher Friday as short-covering emerged after JPMorgan Chase revised its Brazil sugar outlook for 2025/26 to a deficit of -900,000 MT...

Benzinga

Trump Presidency Ushers In Dollar's Worst Six-Month Slide In 34 Years

The first five months of Donald Trump‘s presidency have coincided with one of the steepest collapses in the U.S. dollar in over three decades, as economic contraction, surging deficits and political friction with the Federal Reserve hammered investor confidence in the greenback.

Reason

90 Deals in 90 Days? Trump's Trade War Is Failing on Its Own Terms

The trade deficit is getting bigger, the deals aren't coming, and foreign investment has declined.

Benzinga

Investors Seek Gold Alternative - Platinum Hits $1,400 As Supply Deficit Deepens

Platinum prices have surged to their highest levels since 2014, driven by tightening supply, speculative investor flows, and a wave of buyers turning to the metal as a cheaper alternative to gold.

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