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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 81 of 100
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
  • Trump and Xi greet a crowd of cheering people
    EconomyAs China restricts rare earths, Trump targets ethane in plastics manufacturing blow
    By Jordan BlumJune 4, 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
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
President Donald Trump speaks during an "Invest in America" roundtable with business leaders at the White House, Monday, June 9, 2025, in Washington.
EconomyTrump’s tax bill backfire: Foreign companies could avoid U.S. investment over steep hikes
By Josh Boak and The Associated PressJune 10, 2025
Jerome Powell surrounded by darkness
PoliticsForget about the Fed’s dual mandate—this investment advisor says they’ve added a third mandate, and won’t be cutting rates anytime soon
By Irina IvanovaJune 10, 2025
Commuters wait at a bus stop where there is a National Debt Clock billboard-sized running total display that shows the United States gross national debt as $105,866 per person in Washington, DC, on December 30, 2024.
FinanceGovernment borrowing binge could crowd out mortgages and business investment
By Greg McKennaJune 10, 2025
  • A group of young women sit around a table at a restaurant.
    HealthThe Ozempic boom could be bad news for restaurants as more than half of GLP-1 users report cutting back on dining out, report finds
    By Sasha RogelbergJune 4, 2025
Bill Ackman smiles and raises his right hand as he speaks in front of a microphone.
FinanceFannie and Freddie could make hedge funds a huge payday if they go public. One expert wants a ‘utility model’ for the Fortune 500 giants
By Greg McKennaJune 10, 2025
Two traders talking
FinanceStocks push higher despite clashes in Los Angeles and trade uncertainty
By Irina IvanovaJune 9, 2025
BlackRock’s Bitcoin ETF becomes fastest-ever ETF to accumulate $70 billion
The CoinsBlackRock’s Bitcoin ETF becomes fastest-ever ETF to accumulate $70 billion
By Catherine McGrathJune 9, 2025
Bitcoin surges to $108,000 as top US and Chinese officials meet to discuss tariffs 
The CoinsBitcoin surges to $108,000 as top US and Chinese officials meet to discuss tariffs 
By Catherine McGrathJune 9, 2025
Sebastian Siemiatkowski
AIKlarna CEO predicts AI-driven job displacement will cause a recession
By Ryan HoggJune 9, 2025
  • Trump speaks into a microphone and points into the crowd in front of an American flag
    EconomyThe Budget Office says Trump’s spending bill would add $2.4 trillion to the national debt—just one day after Elon Musk slammed Congress over this same fear
    By Lisa Mascaro and The Associated PressJune 4, 2025
U.K. remains Europe’s top spot for finance investment, EY says
FinanceU.K. remains Europe’s top spot for finance investment, EY says
By Meg Short and BloombergJune 9, 2025
Vanishing immigration is the ‘real story’ for the economy and a bigger supply shock than tariffs, analyst says
EconomyVanishing immigration is the ‘real story’ for the economy and a bigger supply shock than tariffs, analyst says
By Jason MaJune 8, 2025
US seeks deal in London on China rare earth flows, Hassett says
EconomyUS seeks deal in London on China rare earth flows, Hassett says
By Se Young Lee and BloombergJune 8, 2025
New disputes emerge ahead of US-China trade talks in London
EconomyNew disputes emerge ahead of US-China trade talks in London
By Ken Moritsugu and The Associated PressJune 8, 2025
A hot trend in the housing market is Gen Z buying homes with siblings
EconomyA hot trend in the housing market is Gen Z buying homes with siblings
By Jason MaJune 7, 2025
China approves some exports of rare earths ahead of US talks
EconomyChina approves some exports of rare earths ahead of US talks
By Felix Tam and BloombergJune 7, 2025
What Elon Musk’s feud with Trump means for Tesla shareholders
FinanceWhat Elon Musk’s feud with Trump means for Tesla shareholders
By Shawn TullyJune 7, 2025
Strong jobs report, Tesla rebound buoy markets as S&P 500 nears all-time highs
EconomyStrong jobs report, Tesla rebound buoy markets as S&P 500 nears all-time highs
By Ben WeissJune 6, 2025
woman shopping for Campbell's soup in grocery store
EconomyElon Musk predicts a recession this year. 8 sneaky signs we actually could be headed for one
By Sydney LakeJune 6, 2025
Two people shake hands at a job fair
EconomyHiring is slowing but still solid, with 139,000 jobs added last month
By Paul Wiseman and The Associated PressJune 6, 2025
The dredger vessel Ohio works on dredging the Port of Corpus Christi's inner harbor in 2022 with downtown Corpus seen in the background.
FeaturesHow a little-known Texas city turned into the energy export gateway of the country
By Jordan BlumJune 6, 2025
Ireland joins the likes of China and Vietnam on list of countries the U.S. is monitoring for currency manipulation
EconomyIreland joins the likes of China and Vietnam on list of countries the U.S. is monitoring for currency manipulation
By Ryan HoggJune 6, 2025
Which tech mogul will replace Elon Musk as Trump’s new tech industry BFF?
TechWhich tech mogul will replace Elon Musk as Trump’s new tech industry BFF?
By Alexei OreskovicJune 5, 2025
US President Donald Trump, right, and Elon Musk, chief executive officer of Tesla Inc., during a news conference in the Oval Office of the White House in Washington, DC, US, on Friday, May 30, 2025.
Finance‘Have a nice day, DJT!’ Raging feud between Trump and Musk tanks Tesla after Trump-Xi call calmed markets 
By Amanda GerutJune 5, 2025
Trump speaks behind a podium while holding up a sign listing reciprocal tariffs.
EconomyNY Federal Reserve finds a ‘significant share’ of companies saying they raised prices on goods not affected by tariffs
By Sasha RogelbergJune 5, 2025
The only ‘Made in America’ smartphone maker has a message for Apple about manufacturing in the Trump tariff era
TechThe only ‘Made in America’ smartphone maker has a message for Apple about manufacturing in the Trump tariff era
By Verne KopytoffJune 5, 2025
Trump points his finger at Musk inside the White House
PoliticsHouse Speaker Mike Johnson says Trump is ‘not delighted that Elon did a 180’ after the pair spent four months working closely together
By Dave SmithJune 5, 2025
Elon Musk shakes hands with U.S. President Donald Trump as they speak to reporters in the Oval Office of the White House on May 30, 2025 in Washington, DC.
Economy‘Kill Bill’: Elon Musk urges Americans to rebel against president’s policy, but White House says his ‘debt slavery’ claims are a hoax
By Eleanor PringleJune 5, 2025
Jerome Powell, chairman of the US Federal Reserve, speaks with attendees at the Thomas Laubach Research Conference in Washington, DC, US, on Thursday, May 15, 2025
EconomyTrump hiring freeze threatens key economic data as the Fed zeroes in on inflation
By Christopher Rugaber and The Associated PressJune 4, 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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