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The Latest Breaking News from Deficit

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?

Benzinga

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.

Euronews

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

The Independent UK

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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.

Evening Standard

Manchester United lose their boots and first leg against Brann in WCL qualifying

Manchester United lost their players’ boots on the way to Norway and will need to overturn a 1-0 deficit in the second leg to reach the Women’s Champions League group stage

The Guardian - UK

The French economy has a boomer problem and is spending way too much on pensions

Before resigning from his nine-month stint as French prime minister, François Bayrou had claimed that if France failed to cut its public deficit, young people would pay the price “for the sake of the comfort of boomers”.

The Conversation

Here's what we should replace GERS with, and why

This year's GERS figures put Scotland’s public sector deficit figure at £26.2bn, up from £21.4bn the previous year. Maybe there is no one to…

The National (Scotland)

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France's finances are in turmoil. Here's how it came to this

France’s finances and politics are in turmoil

The Independent UK

Platinum Market Faces Tightest Conditions In Five Years: Report

The World Platinum Investment Council (WPIC) confirmed that the platinum market remains in a persistent structural deficit, a trend set to continue through 2025.

Benzinga

Here's What Would Happen If We Seized All the Wealth From America's 800 Billionaires

Don't comfort yourself with wishful thinking that millionaires and billionaires could take the entire burden of the deficit off our hands.

Reason

Philadelphia mass transit agency gets OK to use project money to avoid bus, trolley and rail cuts

Gov. Josh Shapiro’s administration is approving the use of hundreds of millions of dollars in capital project funding for Philadelphia’s public transit agency to help it restore bus, trolley and rail services that it had eliminated to shore up its deficit-riddled finances

The Independent UK

French Prime Minister François Bayrou loses crucial confidence vote in parliament

The centrist leader, who became France’s fourth head of government in less than two years, lost his gamble after calling an unprecedented confidence vote over his austerity plans to rein in the country’s ballooning public deficit.

Euronews

French political crisis threatens country's influence over the EU

France’s political paralysis is shaking the EU: chronic instability and unpopular budget cuts weaken Paris’ influence just as Italy under Meloni gains ground, pushing for key EU roles and shaping the bloc’s future while France struggles at home.

Euronews

U.S. may have to refund half its tariff revenue as high-stakes court battle threatens to wreak havoc on the deficit and bond market

"This alone would raise further concerns about the fiscal outlook and likely push bond yields higher."

Fortune

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Euronews

Political instability in France: What are the potential consequences for the EU?

The possible fall of the government could weaken France on the European stage.

Radio France Internationale

Would tax hikes for the wealthiest really drive them to flee France?

The French government is looking to slash its deficit by €44 billion, with ministers favouring spending cuts over tax increases on the wealthy. But new research challenges a key government argument that higher taxes would trigger a mass exodus of the rich.

Benzinga

Trump's Tariffs Are Hitting America Harder Than Its Rivals, Trade Data Show

President Donald Trump‘s aggressive use of tariffs to shrink the U.S. trade gap is falling short, as fresh data show the trade deficit just hit its worst monthly level since March despite rising duties on foreign goods.

International Business Times

US Trade Gap Widest In 4 Months As Imports Surged Ahead Of Tariffs

The US trade deficit expanded more than expected in July to its widest in four months, government data showed Thursday, on a surge in imports before a fresh wave of President Donald Trump's tariffs kicked in.

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The Conversation

French national debt under presidents Chirac, Sarkozy, Hollande and Macron: a look at the numbers

French national debt has grown steadily over the last 30 years. It is the sum of all public deficits accumulated since the mid-1970s. To compare the amount of national debt to the government’s financing capacity, it is expressed as a percentage of gross domestic product (GDP) – debt-to-GDP ratio – which…

Newslaundry

From failed Democrat to Trump’s unhinged enforcer: The strange career of Peter Navarro

Since August 27, when the US tariffs on India came into effect, millions of Indians have had to familiarise themselves with many US political personalities. This is especially true for those who consume news in vernacular languages or rarely pay attention to world affairs. Last week, in this star-studded sky…

Euronews

Political instability in France: How does it impact the economy and investments?

Economic risks are emerging in France while political instability looms, as the third government is in danger of falling in little over a year. Further attempts to tackle the country’s enormous debt could be choked until after the next presidential election in 2027.

Radio France Internationale

France's debt: how did we get here, and how dangerous is it?

Prime Minister François Bayrou has warned that France’s excessive debt puts it in danger, which is why he says his government’s proposed budget, which cuts into public spending and freezes pensions and other social payments, is crucial. But is the debt really such a danger? And how did France get…

Evening Standard

Minister to get power to veto sentencing guidance after ‘two-tier’ row

Justice Secretary Shabana Mahmood said she wanted to ‘right the democratic deficit that has been uncovered’.

Motorsport

Who slept worst last night: Lando Norris

Norris retired late on in the Dutch Grand Prix with a mechanical fault, extending his deficit to championship leader Oscar Piastri to 34 points with nine rounds left

Fortune

'A different shock to the system': De minimis tariff dodge ending means less purchasing power for Americans

Closing the loophole could raise $10 billion a year, but experts say the number is "not all that meaningful" compared to the country’s trade deficit.

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