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The Latest Breaking News from Deficit

Luke Littler falls at last-16 stage as Jeffrey de Graaf wins maiden PDC title

De Graaf recovered from a 4-1 deficit to beat Stephen Bunting 8-7 in the final and become the first Swedish player to win a Players Championship.

The Independent UK

Trump’s tariffs are becoming such an important revenue source that they’re now propping up America’s debt rating

“At this time, it appears that meaningful tariff revenue has the potential to offset the deficit-raising aspects of the recent budget legislation.”

Fortune

Trump is bringing in enough revenue from tariffs to cut deficits by $4 trillion over the next decade, CBO says

In just two months, Trump added another $1.5 trillion of deficit reduction in the form of new tariffs, CBO said. Still, the One Big Beautiful Bill Act will raise deficits by $3.4 trillion.

Fortune

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Retirees in This State Will Outlive Savings by Almost Half a Million Dollars

New data from Seniorly reveals that seniors in 41 states risk outliving savings. New York tops the list with a $448K deficit. See where your state ranks.

GOBankingRates

Trump Touts 'Incredible' Tariff Strategy After Congressional Budget Office Projects $4 Trillion Deficit Cut, Even As Economists Warn Of Slower Growth

On Friday, President Donald Trump celebrated a Congressional Budget Office report projecting that his sweeping tariffs will reduce U.S. deficits by $4 trillion over the next decade, even as analysts caution the levies could weigh on economic growth and face legal challenges.

Benzinga

After three days of talks, a fairer tax system is on the agenda. There’s no shortage of ideas

Day three of the government’s economic reform roundtable was about budget sustainability. It’s a slow burn issue. If the Australian government spends more than it raises in revenue, it has to finance the difference (the budget deficit) by borrowing. The most recent budget has forecast deficits for at least the…

The Conversation

‘The nation’s finances have deteriorated’ since Trump took office, CRFB says, gaming out the scenarios up to a $28.5 trillion deficit

The baseline scenario shows cumulative deficits reaching $22.7 trillion by 2035, and that’s if everything goes according to plan.

Fortune

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SNP loses thousands of members as deficit soars to nearly £500,000

The party’s annual accounts also show it may never pay former chief executive Peter Murrell back for his outstanding £60,000 loan.

Evening Standard

Strongest rise in UK business activity in a year while hiring falls; WH Smith shares crash 40% on accounting error –as it happened

Government borrowing falls to £1.1bn in July as tax receipts rise, but chancellor remains under pressure

The Guardian - UK

South Carolina LLWS Team Erases Five-Run Deficit in Extras to Avoid Elimination

South Carolina came back from down five runs in extra innings to defeat South Dakota in the Little League World Series.

Sports Illustrated

Trump's Rebate Plan Will Push America Toward a Hyperprogressive Tax Code

The president’s $300 billion tariff rebate plan risks replaying Bush-era giveaways—but on a scale large enough to fuel inflation and deepen the deficit.

Reason

Trump's Trade Wars Miss The Real Problem

The United States' negative net international investment position (NIIP) might be too deep for the current administration. While Donald Trump‘s protectionist measures promise a revival of domestic industry, structural imbalances in savings, investment, and global capital flows suggest tariffs cannot resolve America's persistent deficits.

Benzinga

Wallabies break South Africa’s aura of invincibility in win that asks: is Australian rugby back?

Joe Schmidt’s side turned a 22-point deficit into a first win at Ellis Park since 1963. If this is a redrafting of the story, then the sport will be better off

The Guardian - AU

ADHD medication reduces risk of suicide and criminal behaviour, study finds

About 2.6 million people in the UK live with attention deficit hyperactivity disorder (ADHD) , but in the just over half are prescribed medication for it

The Independent UK

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Benzinga

Deere Q3 Earnings Preview: 'Tariff Concerns Remain A Cloud Over' Stock

Farm equipment maker Deere Company (NYSE: DE) could provide a deeper look at the impact of tariffs and a record-high agricultural trade deficit in the United States, which is affecting the sector, when the company reports its third-quarter financial results on Thursday before the market opens.

Reason

This Trump Tariff Could Increase America's Trade Deficit

Switzerland might respond to Trump’s double-digit “reciprocal” tariff by canceling its multibillion-dollar F-35 order.

Euronews

Tariff revenue fails to curb US deficit as July spending hits record highs

Even with customs revenue quadrupling under new tariffs, record-high spending on benefits, healthcare and debt interest drove the largest monthly deficit in US history.

Benzinga

Peter Schiff Mocks Trump's 'Booming' Economy Claim As Fiscal Deficit Balloons To $291 Billion In July

The U.S. government’s fiscal deficit ballooned to $291 billion in July, a nearly 20% jump from the previous year, triggering sharp criticism from prominent economic and political commentators.

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news in one place.

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Evening Standard

Scotland’s deficit grew by £5.1bn, Government estimate shows

The report said ‘public finances in Scotland weakening, as expenditure grew faster than revenue’.

The Guardian - UK

Treasury targeting inheritance tax reforms to help plug UK deficit

Exclusive: Chancellor also looking at tweaks to capital gains tax to try to bridge £40bn-plus spending gap before budget

Tom’s Guide

Who needs weights? I’m a personal trainer, and this 3-move bodyweight workout boosts core stability and builds strength all over

It doesn't take a gym to build a strong body and core; you can do it using three functional exercises and your bodyweight, according to a personal trainer.

International Business Times

Senate Tax Reform Debate Intensifies Over Middle-Class Relief And Deficit Impact

The bill would raise the child tax credit from $2,000 to $3,000 per child and broaden deductions for health insurance premiums and medical expenses.

Benzinga

Scott Bessent Calls Tariffs A 'Melting Ice Cube,' Says They Could Disappear As Trade Rebalances

U.S. Treasury Secretary Scott Bessent described America's reciprocal tariffs as a “melting ice cube,” suggesting they could be reduced or eliminated if the nation's trade deficit narrows.

Benzinga

Trump Urges China To Quadruple US Soybean Purchases To Address Their Shortage, Tackle Trade Deficit—Experts Say 'Highly Unlikely'

President Donald Trump has called on China to significantly increase its soybean orders from the United States, a move that could potentially address the trade imbalance between the two nations.

The Guardian - UK

Rachel Reeves needs to put up taxes to cover £40bn deficit, thinktank says

NIESR suggests a rise of 5p in the pound on basic and higher rate of income tax would fill the budget gap

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