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The Latest Breaking News from Deficit

Internal White House war erupts as Budget Chief rips defense secretary’s massive spending plan

He worries about its impact on the Federal deficit.

We Got This Covered

Crystal Palace fans make feelings towards club known during win over 10-man Wolves

Palace avoided falling to a first-half deficit when captain Dean Henderson saved Tolu Arokodare’s 43rd-minute penalty

The Independent UK

Andrew McCarthy on "Why Trump's Section 122 Tariffs Are Illegal"

The prominent conservative legal commentator outlines the case against Trump's latest tariff power grab.

Reason

From analysis to the latest developments in health,
read the most diverse news in one place.

Trump's plan B to impose new tariffs is also illegal because a balance-of-payments deficit doesn't exist, trade experts say

"A balance of payments deficit is not the same thing as a trade deficit."

Fortune

New CBO report shows national debt spiraling into uncharted territory by 2035—and Trump's tariffs defeat will make the picture even worse

By 2035, the CBO expects the deficit to reach $2.96 trillion or 6.2% of GDP versus 5.8% today, and almost double the multi-decade, pre-pandemic average.

Fortune

The ‘alternative scenario’ of an even bigger national debt disaster is in play after the Supreme Court ruled Trump’s tariffs illegal

Federal debt was set to reach 120% of GDP by 2036, the CBO projected, but that assumed the tariffs would stay in place.

Fortune

How The US Adding $696 Billion in Debt Impacts Your Money Every Day, According to Experts

The more the government borrows, the more Americans will feel a financial strain.

GOBankingRates

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The Trump team’s justification for tariffs was rebalancing the trade deficit—it’s not going the way they wanted

Perhaps unsurprisingly, given the escalating tensions between Washington and Beijing, in 2025 the deficit with China decreased $93.4 billion to $202.1 billion.

Fortune

UK reports record-breaking budget surplus of £30.4bn in surprise boost for Rachel Reeves

Largest January total since records began in 1993 is sharp reversal from December’s £11.6bn deficit

The Guardian - UK

Trump Said Tariffs Would Reduce the Trade Deficit. Instead, It Hit a Record High in 2025.

It's a good thing that trade deficits aren't actually a national emergency.

Reason

U.S. trade deficit slipped to $901 billion last year amid Trump tariffs

The U.S. trade deficit slipped modestly in 2025, a year in which President Donald Trump upended global commerce by slapping double digit tariffs on imports from most countries

The Independent UK

Mamdani To Increase NYC Property Taxes by 9.5 Percent To Balance Budget if Income Taxes Are Not Raised

So much for "the warmth of collectivism."

Reason

PSG boss Enrique hails return from 'catastrophe' at Monaco

Paris Saint-Germain head coach Luis Enrique on Wednesday paid tribute to his side's mental strength after they overturned a two-goal deficit against Monaco to win 3-2 at the Stade Louis II.

Radio France Internationale

Romanian finance minister backs Eurobonds and 'Made in Europe' in competitiveness drive

Minister Alexandru Nazare also supports the more controversial E6 club of economic heavyweights, saying if it succeeds, it's a "good thing" for Europe.

Euronews

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The Guardian - UK

National Gallery to make major cuts in effort to stem ballooning deficit

Move could mean fewer free exhibitions and paid-for shows and more expensive tickets

Fortune

‘Nothing short of self-sabotage’: Watchdog warns about national debt setting new record in just 4 years

“Our nation’s deficits, debt, interest payments, and trust funds are all in terrible shape,” says Maya MacGuineas, president of the CRFB.

Fortune

‘The fiscal trajectory is not sustainable’: CBO warns about the highest debt in U.S. history as Trump adds $1.4 trillion to 10-year deficit

The national debt is set to surpass the historic high of 106% of GDP (which it reached in 1946) by 2030, according to the CBO.

The Independent UK

CBO: Federal deficits and debt to worsen over next decade

The Congressional Budget Office projects worsening federal deficits and rising debt over the next decade, driven by increased spending on Social Security, Medicare, and debt service payments

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news in one place.

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The Independent UK

Norway's Jens Luraas Oftebro overcomes time deficit to win gold in Nordic combined

Jens Luraas Oftebro of Norway has won the gold medal in the Nordic combined normal hill competition

The Times of India

'Didn’t really like the way she talked': How a phone call from Swiss leader led Trump to raise tariffs to 39%

President Trump revealed a phone call with Swiss leader Karin Keller-Sutter, whom he mistakenly called Prime Minister, prompted a tariff hike on Swiss imports. Despite her arguments about Switzerland's small size, Trump increased tariffs to 39% due to a $42 billion trade deficit, believing Switzerland had been "ripping us off."

Reason

Immigration Massively Reduces Budget Deficits

A new Cato Institute study provides the most comprehensive analysis of this issue to date.

Sports Illustrated

Scottie Scheffler Bounces Back at WM Phoenix Open to Keep PGA Tour-Best Streak Alive

Scheffler, despite an opening 73, sits seven strokes off the lead after 36 holes. However, the world No. 1 has turned a large deficit into a win before at TPC Scottsdale.

The Guardian - UK

Rising Send costs will ‘bankrupt’ four in five English local authorities, leaders say

Councils call on ministers to write off special educational needs and disability deficits that are predicted to reach £14bn in 2028

The Conversation

More GPs will be able to diagnose and treat ADHD – and experts say it’s a positive step

The Victorian government has announced it will train 150 GPs to diagnose and start treatment for attention deficit hyperactivity disorder (ADHD) in adults and children.

The Independent UK

Liam Rosenior hits back at stinging Chelsea criticism from ‘flabbergasted’ Paul Merson

Chelsea took a conservative approach to recovering from a 3-2 deficit in their Carabao Cup semi-final second leg, one which did not pay off

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