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Trump just raised the $39 trillion national debt with the largest budget hike since World War II—and nobody can figure out 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
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
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
macron
France, South Korea say they’ll work together on reopening Strait of Hormuz
By Kim Tong-Hyung, Hyung-Jin Kim and The Associated PressApril 3, 2026
Energy markets are having a Wile E. Coyote moment as oil supplies go off a cliff, expert says
Energy markets are having a Wile E. Coyote moment as oil supplies go off a cliff, expert says
By Jason MaApril 3, 2026
donald trump
A $10 billion ‘slush fund’ to pay TSA agents: Trump’s latest unilateral loophole, explained
By Jake AngeloApril 3, 2026
Latest Stories
6 Best Vitamins to Boost Energy (2026): Top Recommendations From Experts
Health6 Best Vitamins to Boost Energy (2026): Top Recommendations From Experts
By Emily PharesApril 3, 2026
A person taking a supplement.
HealthWhat Is NMN: Everything You Need to Know From Experts
By Katherine Van DisApril 3, 2026
Best certificates of deposit (CDs) for April 2026
Personal FinanceBest certificates of deposit (CDs) for April 2026
By Glen Luke FlanaganApril 3, 2026
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
A woman working alone in an office
AIMIT 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
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
More PoliticsPage 88 of 100
Senate works through the night as GOP tries to cut deal that satisfies those who want more and less Medicaid cuts
PoliticsSenate works through the night as GOP tries to cut deal that satisfies those who want more and less Medicaid cuts
By Lisa Mascaro, Mary Clare Jalonick, Matt Brown and The Associated PressJuly 1, 2025
  • Josh Hawley points during a confirmation hearing
    PoliticsRepublicans are scrambling after learning their proposed cuts to Medicaid, which would offset trillions in tax breaks, violate Senate rules
    By Lisa Mascaro and The Associated PressJune 26, 2025
Thai court suspends prime minister as it probes ethics case
PoliticsThai court suspends prime minister as it probes ethics case
By Patpicha Tanakasempipat and BloombergJuly 1, 2025
Trump’s ‘Big Beautiful Bill’ is threatening to upend multi-billion dollar investments promising thousands of new jobs for a Georgia town
PoliticsTrump’s ‘Big Beautiful Bill’ is threatening to upend multi-billion dollar investments promising thousands of new jobs for a Georgia town
By Jeff Amy and The Associated PressJune 30, 2025
European renewables slump on U.S. plans to tighten tax rules
EnvironmentEuropean renewables slump on U.S. plans to tighten tax rules
By Eva Brendel and BloombergJune 30, 2025
Overnight Senate voting on ‘Big, Beautiful Bill’ pushed off after early vote barely passes
PoliticsOvernight Senate voting on ‘Big, Beautiful Bill’ pushed off after early vote barely passes
By Lisa Mascaro, Kevin Freking, Joey Cappelletti and The Associated PressJune 30, 2025
U.S. trade talks resume after Canada rescinds tech tax in ‘clear victory’ for Trump
PoliticsU.S. trade talks resume after Canada rescinds tech tax in ‘clear victory’ for Trump
By Rob Gillies and The Associated PressJune 30, 2025
  • RFK Jr. says U.S. is pulling its $1 billion support for international vaccines alliance Gavi because it has ‘ignored the science’ and ‘lost the public trust’
    HealthRFK Jr. says U.S. is pulling its $1 billion support for international vaccines alliance Gavi because it has ‘ignored the science’ and ‘lost the public trust’
    By The Associated PressJune 26, 2025
Senate GOP restores Medicaid cuts to Trump tax package
PoliticsSenate GOP restores Medicaid cuts to Trump tax package
By Rachel Cohrs Zhang, Erin Durkin and BloombergJune 29, 2025
Republican Sen. Thom Tillis won’t run in 2026 after opposing Trump’s bill and being threatened with a primary challenge
PoliticsRepublican Sen. Thom Tillis won’t run in 2026 after opposing Trump’s bill and being threatened with a primary challenge
By Ali Swenson and The Associated PressJune 29, 2025
Zohran Mamdani doesn’t think there should be billionaires but would work with them as NYC mayor and denies being a communist
PoliticsZohran Mamdani doesn’t think there should be billionaires but would work with them as NYC mayor and denies being a communist
By Jason MaJune 29, 2025
Senate tax bill would add $3.3 trillion to U.S. deficits, CBO says
PoliticsSenate tax bill would add $3.3 trillion to U.S. deficits, CBO says
By Jarrell Dillard and BloombergJune 29, 2025
After a dramatic vote, the Senate pushes ahead on Trump’s tax break and spending cut plan
PoliticsAfter a dramatic vote, the Senate pushes ahead on Trump’s tax break and spending cut plan
By Lisa Mascaro, Kevin Freking, Joey Cappelletti and The Associated PressJune 29, 2025
  • Bill Ackman, chief executive officer of Pershing Square Capital Management LP, speaks during a Bloomberg Television interview in New York.
    PoliticsBill Ackman pledges to bankroll any NYC mayoral candidate capable of defeating Zohran Mamdani
    By Christiaan HetznerJune 26, 2025
Michelle Bowman, vice chair for supervision at the US Federal Reserve, Jerome Powell, chairman of the US Federal Reserve, Lisa Cook, governor of the US Federal Reserve, and Adriana Kugler, governor of the US Federal Reserve, left to right, during the Federal Reserve Board open meeting in Washington, DC, US, on Wednesday, June 25, 2025.
Finance Investors piled out of U.S. bond funds in Q2, but long-term Treasuries may soon get relief
By Greg McKennaJune 29, 2025
Senate eyes key vote on Trump’s tax bill, while Musk calls it ‘utterly insane and destructive’
PoliticsSenate eyes key vote on Trump’s tax bill, while Musk calls it ‘utterly insane and destructive’
By Lisa Mascaro, Kevin Freking, Joey Cappelletti and The Associated PressJune 28, 2025
A shadow Fed chief could lead to a ‘revolt’ at the FOMC against Powell’s successor, former vice chair warns
FinanceA shadow Fed chief could lead to a ‘revolt’ at the FOMC against Powell’s successor, former vice chair warns
By Jason MaJune 28, 2025
Chief Justice Roberts warns against elected officials’ heated political words about judges
PoliticsChief Justice Roberts warns against elected officials’ heated political words about judges
By Mark Sherman and The Associated PressJune 28, 2025
Trump runs up Supreme Court winning streak, amassing more power
PoliticsTrump runs up Supreme Court winning streak, amassing more power
By Greg Stohr and BloombergJune 28, 2025
A person welds a piece of metal on a factory bench.
EconomyGoldman Sachs warns tariffs won’t help the U.S. boost manufacturing productivity as tech in American factories continues to lag
By Sasha RogelbergJune 28, 2025
Big brands are pulling out of Pride. Here’s how their involvement has changed over the years
LifestyleBig brands are pulling out of Pride. Here’s how their involvement has changed over the years
By Emily SteinbergerJune 28, 2025
ohran Mamdani, New York City mayoral candidate, speaks during a news conference at Astoria Park during the New York City mayoral Democratic primary in the Queens borough of New York, US, on Tuesday, June 24, 2025.
PoliticsA self-described democratic socialist could be NYC’s next mayor, and the ultrarich are in revolt: It’s a ‘hot commie summer’
By Marco Quiroz-GutierrezJune 28, 2025
Bessent says new U.S.-China deal is a sign of ‘de-escalation’ after Trump’s trade war roiled global markets
PoliticsBessent says new U.S.-China deal is a sign of ‘de-escalation’ after Trump’s trade war roiled global markets
By Elaine Kurtenbach, Will Weissert and The Associated PressJune 27, 2025
Donald Trump points his index finger at cheering workers dressed in bright green construction vests with orange and grey stripes.
EconomyBank of America says tariffs might spark a ‘reshoring’ boom—but experts say it might be a double-edged sword for the economy
By Greg McKennaJune 27, 2025
Business leaders are threatening to leave New York City amid the unlikely ascension of Zohran Mamdani. This scenario has played out before—here’s what happened
PoliticsBusiness leaders are threatening to leave New York City amid the unlikely ascension of Zohran Mamdani. This scenario has played out before—here’s what happened
By Irina Ivanova and Nino PaoliJune 27, 2025
White House Senior Advisor, Tesla and SpaceX CEO Elon Musk attends a cabinet meeting held by U.S. President Donald Trump at the White House in March.
LeadershipElon Musk’s loyal and trusted Tesla ‘fixer’ takes the fall for dismal EV sales
By Christiaan HetznerJune 27, 2025
Senate Majority Leader John Thune, flanked by Sen. John Barrasso, speaks with reporters at a lectern after meeting with President Donald Trump at the White House on June 4.
PoliticsRenewables leaders parse the damage to their industry as Senate approaches vote on ‘Big, Beautiful Bill’
By Jordan BlumJune 27, 2025
Elon Musk, wearing a suit, carries a paper cup in his hand.
EconomyJob openings among the largest U.S. federal contractors have plummeted at 25x the rate of all other jobs amid DOGE cuts, report finds
By Sasha RogelbergJune 27, 2025
DOJ says Kilmar Abrego Garcia will face trial on federal smuggling charges before it tries to deport him again
PoliticsDOJ says Kilmar Abrego Garcia will face trial on federal smuggling charges before it tries to deport him again
By Ben Finley, Alanna Durkin Richer and The Associated PressJune 27, 2025
A couple sits at an outdoor restaurant on Memorial Day weekend on May 29, 2021 in New York City.
FinanceNew York is America’s worst place for a ‘cheap date.’ Here are the best cities to be romantic on a budget
By Greg McKennaJune 27, 2025
Top Senate rulemaker tells GOP that some Medicaid spending cuts in ‘Big, Beautiful Bill’ don’t work and Senators are scrambling
PoliticsTop Senate rulemaker tells GOP that some Medicaid spending cuts in ‘Big, Beautiful Bill’ don’t work and Senators are scrambling
By Lisa Mascaro and The Associated PressJune 27, 2025
Trump says the U.S. and China have signed a trade deal but doesn’t offer any details
EconomyTrump says the U.S. and China have signed a trade deal but doesn’t offer any details
By Elaine Kurtenbach and The Associated PressJune 27, 2025
Lutnick says U.S.-China trade truce signed, 10 deals imminent
PoliticsLutnick says U.S.-China trade truce signed, 10 deals imminent
By Jennifer A. Dlouhy, Kailey Leinz, Joe Mathieu and BloombergJune 27, 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
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