The Latest Breaking News from Deficit

President Donald Trump’s “One Big Beautiful Bill” would likely add trillions to the country’s deficit and drive up interest rates.

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...

Buffett and Musk back a proposal barring Congress from reelection if the deficit exceeds 3% of GDP, sparking bipartisan debate on spending.

Texas Rep. Pete Sessions admitted Republicans feel forced to back Donald Trump's costly reconciliation bill despite concerns about raising the deficit.

Pope Leo XIV, the first US pontiff, takes a cautious, listening-first approach, sidestepping Francis' bold style. Can he unify a divided Church and fix Vatican finances?

Sixteen of the capitals 33 local authorities have said they face ‘severe budget deficits’ totalling £500million next year over school funding shortfalls

That total will rise to about $3 trillion once the interest costs of more borrowing are included.

Musk has criticized the Trump-backed "Big Beautiful Bill," noting it would expand the federal deficit

The analysis came before federal court decisions on tariffs last week and doesn’t account for potential changes to tariff policy.