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Plowshares into swords: Trump’s $1.5 trillion defense surge is the largest since World War II — and no one can explain how to pay for it

“MAGA was told an untruth by Trump — no foreign wars, no adventurism,” Steve Hanke told Fortune. “This is a massive militarization.”

By Nick LichtenbergApril 3, 2026
A woman working alone in an office
MIT created duplicate AI workers to tackle thousands of different tasks. The verdict? Most of the time AI is still just ‘minimally sufficient’
By Tristan BoveApril 3, 2026
JPMorgan Chase CEO Jamie Dimon
Jamie Dimon says the U.S. was right to go to war with Iran: ‘Why the western world put up with all these proxy wars for 45 years is kind of beyond me’
By Tristan BoveApril 3, 2026
Albert Bourla
Only one U.S. university ranks in the world’s top 10 in STEM. Pfizer’s CEO is calling for change
By Preston ForeApril 3, 2026
Bernie sanders angry pointing
Bernie Sanders calls out Bezos, Musk, Bloomberg, and Buffett in billionaire tax push: ‘The richest people in America have never ever had it so good’
By Catherina GioinoApril 3, 2026
Depressed worker feel tried after overwork and disappointed for his job or being fired.
The jobs report looks good ‘for the wrong reasons,’ top economist warns: It’s hiding how many Americans are giving up
By Eva RoytburgApril 3, 2026
Latest Stories
Hers Hair Loss Minoxidil
HealthHers Hair Growth Review 2026: Pros, Cons, and More From Hands-On Testing
By Emily PharesApril 3, 2026
The Benefits of Red Light Therapy: Expert-Approved Advice
HealthThe Benefits of Red Light Therapy: Expert-Approved Advice
By Katherine Van DisApril 3, 2026
Fortune 500 Power Moves: Which executives are gaining and losing power
C-SuiteFortune 500 Power Moves: Which executives are gaining and losing power
By Fortune EditorsApril 3, 2026
Dario Amodei sits in a white chair with his hands pressed together in front of a pink and orange background.
AIThe AI kill switch just got harder to find: LLM-powered chatbots will defy orders and deceive users if asked to delete another model, study finds
By Sasha RogelbergApril 3, 2026
Energy markets are having a Wile E. Coyote moment as oil supplies go off a cliff, expert says
EnergyEnergy markets are having a Wile E. Coyote moment as oil supplies go off a cliff, expert says
By Jason MaApril 3, 2026
Microsoft is spending billions on AI—but even NASA astronauts can’t escape Outlook headaches
LawMicrosoft is spending billions on AI—but even NASA astronauts can’t escape Outlook headaches
By Marco Quiroz-GutierrezApril 3, 2026
Starbucks baristas working in store
SuccessStarbucks is offering $1,200 bonuses, expanded tipping, and weekly payouts to boost the pay of its U.S. baristas
By Emma BurleighApril 3, 2026
Red Lobster is reportedly bringing back Endless Shrimp 2 years after the CEO vowed it would never return
RetailRed Lobster is reportedly bringing back Endless Shrimp 2 years after the CEO vowed it would never return
By Sydney LakeApril 3, 2026
More EconomyPage 80 of 100
Legal experts and economists sound the alarm over the EU’s sustainability rules rollback
EconomyLegal experts and economists sound the alarm over the EU’s sustainability rules rollback
By David VetterJune 18, 2025
  • President Donald Trump shakes hands with Securities and Exchange Commission Chairman Paul Atkins during Atkins' swearing-in ceremony in the Oval Office at the White House on April 22, 2025 in Washington, DC.
    FinanceTrump’s SEC will buoy ‘aggressive innovation,’ Webull president says: ‘Boundaries are going to be tested’
    By Greg McKennaJune 11, 2025
One kilo gold bricks in the vault of the pro aurum Goldhaus on February 19, 2013 in Munich.
FinanceCentral banks expect to swap out more of their U.S. dollar reserves for gold as greenback’s safe-haven status weakens
By Christiaan HetznerJune 17, 2025
Electric cars lose appeal with new drivers, Shell survey finds
TechElectric cars lose appeal with new drivers, Shell survey finds
By Mitchell Ferman and BloombergJune 17, 2025
A new wrinkle for executive comp at BlackRock and Goldman Sachs could become the norm across finance
FinanceA new wrinkle for executive comp at BlackRock and Goldman Sachs could become the norm across finance
By Greg McKennaJune 17, 2025
Steve Schwarzman stands in front of a Blackstone labeled podium in London.
Finance‘One person’s pessimism is another person’s opportunity’: Inside Blackstone’s $500 billion bet on Europe
By Ryan HoggJune 17, 2025
Investigative officials stand at the site of Air India Boeing 787 which crashed on June 13, 2025 in Ahmedabad, India.
FinanceAir India crash seen triggering $475 million in insurance claims
By Saikat Das, Mihir Mishra and BloombergJune 16, 2025
  • Trump administration can keep collecting its tariffs while legal challenges continue, federal appeals court rules
    EconomyTrump administration can keep collecting its tariffs while legal challenges continue, federal appeals court rules
    By Paul Wiseman and The Associated PressJune 11, 2025
Fire and smoke rise into the night sky after an Israeli attack on the Shahran oil depot.
Middle EastWhat the Iran/Israel conflict means for U.S. energy prices going forward
By Jordan BlumJune 16, 2025
Gene Seroka stands in front of the Port of Los Angeles and looks to his left.
EconomyPort of LA imports fell nearly 20% in May, and it may mean higher prices and fewer choices on back-to-school and Halloween items
By Sasha RogelbergJune 16, 2025
Economists predict Germany will return to growth this year
EconomyEconomists predict Germany will return to growth this year
By Mark Schroers, Harumi Ichikura and BloombergJune 16, 2025
Wilbur Ross, former U.S. commerce secretary, listens as U.S. President Donald Trump
EconomyExclusive: Trump’s fixation with 90-day pauses is less about foreign governments, and more about signing deals by mid-terms, says his former commerce secretary
By Eleanor PringleJune 16, 2025
Fed on hold leaves Wall Street asking what it will take to cut interest rates
EconomyFed on hold leaves Wall Street asking what it will take to cut interest rates
By Jonnelle Marte, Ye Xie and BloombergJune 15, 2025
  • U.S. and China agree on framework to resolve trade dispute after 2 days of London talks about rare earth metals and tech export controls
    PoliticsU.S. and China agree on framework to resolve trade dispute after 2 days of London talks about rare earth metals and tech export controls
    By Jill Lawless, Ken Moritsugu and The Associated PressJune 11, 2025
Harvard graduates dressed in red and black robes sit during their commencement ceremony.
FinanceAs Harvard’s and Yale’s private equity holdings go on sale, buyers can use this technique for 1,000% windfalls. ‘It makes your brain melt’
By Greg McKennaJune 15, 2025
Energy markets are poised to be the next battlefield in the spiraling Israel-Iran conflict
EconomyEnergy markets are poised to be the next battlefield in the spiraling Israel-Iran conflict
By Jason MaJune 14, 2025
Oil prices jump and Dow plummets 1.8% after Israel’s attack on Iran stokes fears of wider war
FinanceOil prices jump and Dow plummets 1.8% after Israel’s attack on Iran stokes fears of wider war
By Stan Choe, David McHugh, Jiang Junzhe and The Associated PressJune 13, 2025
U.S. data quality has been declining for years. Now Trump’s cutbacks are leading economists to question its figures
PoliticsU.S. data quality has been declining for years. Now Trump’s cutbacks are leading economists to question its figures
By Marco Quiroz-GutierrezJune 13, 2025
Israel’s attacks on Iran may keep Fed rate cuts on hold, just as inflation was looking better
EconomyIsrael’s attacks on Iran may keep Fed rate cuts on hold, just as inflation was looking better
By Jason MaJune 13, 2025
Former U.S. President and current Republican Presidential nominee Donald Trump speaks about the economy, inflation, and manufacturing during a campaign event at Alro Steel.
FinanceOil prices surge after Israel’s attack on Iran. Trump urges Iran to ‘make a deal before there is nothing left’
By Christiaan HetznerJune 13, 2025
U.S. President Donald Trump listens to former Commerce Secretary Wilbur Ross speak
EconomyExclusive: Trump’s tariff deal ‘quietly’ added 10% raise which nobody is complaining about anymore, says his former commerce secretary 
By Eleanor PringleJune 13, 2025
US President Donald Trump speaks about the upcoming wildfire and hurricane seasons in the Oval Office of the White House in Washington, DC, on June 10, 2025.
EconomyTrump says he won’t fire Powell, but again demands rate cut
By Justin Sink and BloombergJune 12, 2025
Stocks scoot higher on low inflation numbers, but Boeing sinks after fatal Air India disaster
FinanceStocks scoot higher on low inflation numbers, but Boeing sinks after fatal Air India disaster
By Irina IvanovaJune 12, 2025
Rep. Billy Long
EconomyEx-congressman and auctioneer Billy Long once sought to abolish the IRS. Now he’s leading it
By Fatima Hussein and The Associated PressJune 12, 2025
JPMorgan Chase CEO, Jamie Dimon
EconomyJamie Dimon says inflation will go up and employment will shift down as economy ‘deteriorates’ amid shifting ‘tectonic plates’
By Eleanor PringleJune 12, 2025
Man walking by a jack in the box with a "now hiring" sign
EconomyRecurring jobless claims spike to highest level since 2021 at 1.96 million
By Paolo ConfinoJune 12, 2025
A woman squeezes through a door with her chicken sandwich as she exits a Dave's Hot Chicken with a line going out the door.
SuccessA high school dropout ‘manifested’ Dave’s Hot Chicken. The chain’s CEO says ‘grit’ and ‘luck’ took it from a $900 small business to a $1 billion empire
By Greg McKennaJune 12, 2025
Rodney McMullen
PoliticsTariffs are 10x higher than before Trump. Companies will have to absorb the pain because consumers are ‘tapped out,’ investment manager says
By Irina IvanovaJune 12, 2025
New grads are struggling to find jobs and they’re being locked out of the labor market because of 3 key factors 
EconomyNew grads are struggling to find jobs and they’re being locked out of the labor market because of 3 key factors 
By Brit MorseJune 12, 2025
The first, next-generation fuel rods are installed at the Plant Vogtle nuclear complex in Georgia.
FeaturesSouthern Co. quietly makes next-gen nuclear fuel history in Georgia
By Alexander C. KaufmanJune 12, 2025
World Bank warns the global economy is barreling toward its weakest decade in 50 years
EconomyWorld Bank warns the global economy is barreling toward its weakest decade in 50 years
By Marco Quiroz-GutierrezJune 12, 2025
President Donald Trump at a press conference in June.
EconomyStocks dip despite Trump’s notice of ‘DONE’ deal with China and better-than-expected inflation data
By Ben WeissJune 11, 2025
President Donald Trump and Saudi Crown Prince Mohammed bin Salman shake hands during Trump's visit to Riyadh.
EconomyThe global oil and gas industry is ‘deteriorating,’ says top credit ratings agency
By Jordan BlumJune 11, 2025
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Real Estate
Gen Z fled San Francisco for Texas and Florida. Now they’re turning ‘welcomer cities’ into the next big tech townsplaceholder alt text
By Fortune EditorsApril 2, 2026
Success
Major 4-day workweek study suggests that when we work 5 days we spend one doing basically nothingplaceholder alt text
By Fortune EditorsApril 2, 2026
Economy
Paul Krugman smacks down Trump speech with argument that $4 gas is ‘less than half’ of the Hormuz hit. Here’s what he’s talking aboutplaceholder alt text
By Fortune EditorsApril 2, 2026
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