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The Latest Breaking News from Deficit

Italy eyes 3% EU deficit target this year, ahead of schedule

According to Prime Minister Giorgia Meloni’s government, the public deficit is at 3% already this year, bringing the Italian budget back on track with the European Union's finance rules.

Euronews

Billionaires Like Ray Dalio Keep Sounding the Alarm on U.S. Debt. What Is Going on With the So-Called Debt Crisis?

Mounting debt, a rapidly rising deficit, and pesky inflation have got a lot of money managers spooked. That’s why investors need to start diversifying.

Barchart

Politics with Michelle Grattan: James Paterson on Andrew Hastie, Sussan Ley and himself

The federal opposition, embattled on many fronts, is trying to gain ground by establishing an alternative economic and fiscal narrative to that of the government.

The Conversation

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UK trade deficit in goods hits record £56.6 billion after 'liberation day' Trump tariffs

However, the huge deficit in trade of physical goods was offset by a record surplus in services, says ONS

Evening Standard

Jim Chalmers’ budget victory lap outpaces reality as Australia’s debt continues to climb

The treasurer celebrated an outcome that could have been worse, but a structural challenge remains as workers are left with the burden of repair

The Guardian - AU

Keegan Bradley says blame for Ryder Cup defeat lies with him

The US captain saw his side slip to a record 11.5-4.5 deficit before almost completing a ‘miracle’ comeback in the singles.

The Independent UK

Albanese government urged to protect Australians on aid ships bound for Gaza – As it happened

All the day’s news as it unfolded

The Guardian - AU

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Arsenal Player Ratings vs. Newcastle: Gunners Rescue Tyneside Trip Late in 2–1 Win

Arsenal overcame a first-half deficit to win at St. James’ Park.

Sports Illustrated

Australia's luck running out despite budget bright spot

Australia's budget deficit for last financial year ended up being narrower than expected but younger workers will still be on the hook for a decade of red ink.

AAP

Keegan Bradley vows to ‘stick to the plan’ after tough Ryder Cup opening day

The captain saw his US team slip to a 5.5-2.5 deficit after a ruthless European side took control of the competition.

The Independent UK

Copper Market Shaken By Grasberg Disruption, Goldman Slashes Projections

The copper market has been jolted by disruptions at Indonesia’s Grasberg mine, with ripple effects spreading across supply forecasts and price expectations. With the mine operator declaring force majeure, Goldman Sachs slashed its mine supply outlook for 2025 and 2026, turning a projected surplus into deficit territory.

Benzinga

Jamie Dimon says Trump's efficiency drive isn't enough to avert debt crisis: 'Like most problems, it's better to deal with it than let it happen'

Dimon stressed that only faster growth—unlocked by lighter regulation and freer trade—can restore balance to the U.S.’s debt-to-GDP ratio.

Fortune

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

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Benzinga

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.

The Guardian - UK

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

Reason

Milei Raises Government Spending While Pledging Zero Deficit

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

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Roll Call

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.

Benzinga

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…

The Independent UK

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

Benzinga

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?

Euronews

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.

The Independent UK

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

Evening Standard

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.

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