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The Latest Breaking News from Deficit

Dollar Sinks and Gold Prices Jump as Moody’s Cuts US Debt Rating

The dollar index (DXY00 ) today is down by -0.71% and fell to a 1-week low. The dollar is under pressure today after Moody’s Ratings late last Friday downgraded the US government’s credit rating from Aaa to Aa1, citing a ballooning budget deficit and fiscal concerns. The downgrade puts the...

Barchart

Should You Buy Gold Now After Moody’s U.S. Credit Rating Downgrade?

Moody’s has downgraded its rating on U.S. sovereign debt by one notch, which has helped lift gold prices. The precious metal’s outlook appears bullish amid the current macro environment.

Barchart

Scottie Scheffler reveals he fell foul of driver rules before powering to PGA Championship triumph

Scheffler secured his third major at Quail Hollow but had to change a non-conforming driver like Rory McIlroy

The Independent UK

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US credit rating downgrade could add to pressure on government debt

Loss of Moody’s triple-A rating comes amid concerns about fiscal trajectory and widening budget deficit

The Guardian - UK

‘Doesn’t help our voters’: Trump demands GOP back his ‘big beautiful bill’ to kick millions off Medicaid, warns of ‘suffering’

Trump believes immigration can solve every problem.

We Got This Covered

U.S. debt no longer earns a top grade at any of the major credit rating agencies after Moody's downgrade

"Successive US administrations and Congress have failed to agree on measures to reverse the trend of large annual fiscal deficits and growing interest costs."

Fortune

Will bond vigilantes kill Trump tax cuts?

The bill arriving in Congress could add an estimated $3.8 trillion to the federal deficit through 2034.

Fortune

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Max Verstappen fears Red Bull won't close McLaren gap anytime soon

Max Verstappen says it is unrealistic to expect Red Bull to close its race pace deficit with McLaren in the short term despite a range of upgrades coming to the 2025 Formula 1 car.

Motorsport

Verstappen fears Red Bull won't close McLaren gap soon

Max Verstappen says it is unrealistic to expect Red Bull to close its race pace deficit with McLaren in the short-term despite a range of upgrades coming to the 2025 Formula 1 car.

Autosport

Opera Australia treads brutal Boulevard to a $10m loss

A production of the musical Sunset Boulevard helped drag Opera Australia's finances to an operating deficit of $10.6 million in 2024.

AAP

Lando Norris not worried about championship standings despite early deficit

The Briton is 16 points adrift of McLaren team-mate Oscar Piastri after six races.

The Independent UK

Republican Reconciliation Package Will Lead to $3 Trillion Annual Deficits

A new analysis from the Committee for a Responsible Federal Budget estimates that the national debt will equal nearly 130 percent of GDP by 2034.

Reason

Newsom Proposes Pausing Health Access for Undocumented, Low-Income Immigrants Amid California's Billion-Dollar Budget Deficit

California Governor Gavin Newsom is proposing a freeze on new enrollment for low-income immigrants without legal status into the state's Medi-Cal program starting in 2026

Latin Times

California governor announces $12 billion budget deficit

California Gov. Gavin Newsom says the state is staring down an $12 billion budget deficit

The Independent UK

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Latin Times

Trump Official Mocked for Insisting China 'Caused' the Pain Americans Felt From Tariffs: 'Must Think We're Fools'

U.S. Trade Rep. Jamieson Greer deflected blame for the Trump administration's tariff fallout onto China, prompting immediate pushback online.

The Guardian - AU

Five vice-chancellors in Victoria paid more than $1m in 2024, prompting claims of ‘largesse’

Union says universities blaming budget deficits for job cuts while pushing executive salaries ‘into the stratosphere’

Fortune

Ken Griffin says Trump won the election by promising lower inflation—so he needs to think 'long and hard' about how to protect Americans' standard of living

Citadel founder Ken Griffin added that Americans may not even want the jobs that rebalancing the trade deficit may open up.

Roll Call

Most controversial Medicaid cuts left out of reconciliation text - Roll Call

A House committee releases its plan to reduce the deficit by $880 billion to pay for President Donald Trump’s legislative priorities.

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The Conversation

If you really want to close the US trade deficit, try boosting innovation in rural manufacturing

President Donald Trump has long been preoccupied by the trade deficit — the gap between what the U.S. sells to the rest of the world and what it buys from it. He recently declared the issue a national emergency and used trade deficit data to calculate so-called “reciprocal tariffs” targeting…

Evening Standard

Barcelona sink Real Madrid with thrilling Clasico comeback as LaLiga title beckons

Barca quickly erase early deficit to go seven points clear of fiercest rivals with only three games left to play this season

Evening Standard

Universities must be more transparent with public money, skills minister says

It comes after reports that two in five universities and colleges in England expect to run at a deficit this year.

Fortune

Trump calls emptying U.S. ports a 'good thing' despite supply-chain panic because 'that means we lose less money'

The president has repeatedly claimed the U.S. has a $1 trillion trade deficit with China, though economists argue a trade deficit isn’t inherently negative.

The Independent UK

NHS trusts cut frontline clinical jobs and axe services ‘to balance the books’

More than a third (37%) are cutting clinical posts as they try to balance their books, with a further 40% considering this.

The Independent UK

FACT FOCUS: Trumps claims the US subsidizes Canada. Experts say the numbers don't add up

President Donald Trump falsely claimed during a meeting with newly-elected Canadian Prime Minister Mark Carney that the U.S. provides Canada with subsidies of about $200 billion

Al Jazeera

US-UK trade deal: How are Trump’s global tariff talks shaping up?

UK and US leaders to hold separate media events outlining Donald Trump’s first trade deal since global tariffs move.

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