A centrist think tank advocating for deficit reduction and prudent spending
England’s prime minister is accelerating talks on a national care service with cross‑party support, aiming to fund reforms from existing budgets. Baroness Casey’s review will inform the plan, with a focus on pay for care workers and integration with the NHS. Officials say there will be no immediate tax rises as talks proceed.
The US has passed $40 trillion in total public debt, the Treasury has reported, driven by large pandemic-era and recent spending and tax changes. Interest payments have risen sharply and are now a larger budget item than many programmes. Treasury officials argue growth can be managed by stronger economic growth and fiscal consolidation.
Jessica Bowie has been arrested in Albany after an FBI counterterrorism operation foiled her plan to bomb the New York State Capitol using an inert explosive in a DoorDash bag. She has pledged allegiance to ISIS and is under heavy investigation for radicalization online.
The New York Times reports that President Trump’s bid to reduce inflation and curb spending has faced setbacks. A global trade war and renewed tariff battles, including with Canada, have kept prices elevated. Iran and ongoing military interventions have contributed to a high debt level, complicating voters’ view of his economic plan two months before the midterms.
President Donald Trump has promised a $5,000 payment to every adult U.S. citizen if Republicans retain control of both chambers in the November midterms. The White House has released only a short fact sheet; Republicans, legal experts and budget analysts have questioned the plan’s legality, its roughly $1.2–1.4 trillion cost and how the payments would be funded or authorised without Congress.
Leaders from multiple publications report that President Trump has pledged to pay $5,000 to every American adult if Republicans retain control of Congress. The pledge has sparked debate over funding, legality, and potential inflation, with critics labeling it a vote-buying gimmick and supporters praising the gesture as economic relief.
The Federal Reserve has raised the federal funds rate by a quarter point to 3.75%-4.0% to tame inflation. The move will ripple through borrowing costs and savers. Credit-card rates, car loans, and mortgage-finance costs are likely to rise, while savers may enjoy higher deposit yields. The hike is the first since July 2023 and follows energy-price pressures.
Trump has pledged a $5,000 payment to every American adult if Republicans win control of Congress, triggering sharp criticism from Democrats and alarm among economists about the plan’s cost and feasibility. The proposal, branded as a “Trump dividend,” would amount to roughly $1.2 trillion and could worsen the deficit. Commentators note prior broken promises and highlight the broader political and economic implications.
Bridgewater founder Ray Dalio has warned that the world is facing a debt crisis as debt supply outpaces demand. He says governments and large tech firms are flooding markets with debt while buyers in China and Japan pull back. He predicts a crisis within the next two to three years, urges hedges like inflation-linked bonds, and marks diversification beyond the US.
The Treasury has reported that federal net interest costs for the 2026 fiscal year have reached about $1.05 trillion, making debt service the third-largest federal outlay and larger than defense. The fiscal deficit has widened to roughly $2 trillion for the year, driven largely by higher interest payments as Treasury yields have climbed.