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‎The United States entered fiscal year 2026 with significant financial pressure, based on new projections released by the Congressional Budget Office (CBO). Early data indicates that government borrowing remained extremely high during the first four months of the fiscal calendar. ‎ The United States borrowed $696 billion in the first four months of FY2026, with debt interest payments projected to exceed $1 trillion for the year as national debt surpasses $38.5 trillion. ‎Andrew Caballero-Reynolds/AFP/Getty Images ‎ ‎According to the CBO’s latest report, covering the first third of FY2026—which began in October—the federal government ran a deficit that required borrowing $696 billion. January alone accounted for $94 billion of that figure. When averaged across the 16 weeks within those four months, borrowing reached roughly $43.5 billion each week. ‎ ‎Government spending continues to exceed revenue generation, and the financial strain is worsened by rising interest payments ...

‎Elon Musk has set a new global benchmark for personal wealth, becoming the first individual ever valued at $800 billion or more. The milestone follows a major transaction in which SpaceX, Musk’s private rocket company, acquired his artificial intelligence and social media business, xAI. According to Forbes, the merger values the combined enterprise at $1.25 trillion and added an estimated $84 billion to Musk’s fortune, lifting his net worth to an unprecedented $852 billion. ‎ ‎Elon Musk’s net worth surges to a record $852 billion after SpaceX acquires xAI in a deal valuing the combined company at $1.25 trillion, according to Forbes. Andrew Harnik/‎Getty Images ‎ ‎Before the deal was finalized, Musk’s ownership structure included a 42% stake in SpaceX, valued at $336 billion. That valuation stemmed from a December tender offer that priced the privately held aerospace firm at $800 billion. Musk also held an estimated 49% of xAI, a stake worth $122 billion based on a recent p...

‎Economists are cautioning that President Donald Trump may be pushing negotiations too far over Greenland, after the White House warned of new tariffs on European Union nations if they failed to support America’s bid to buy the territory. ‎ ‎Over the weekend, Trump announced on Truth Social, the platform he owns, that beginning February 1, 2026, Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland would face a 10% tariff on all goods exported to the United States. ‎ ‎Deutsche Bank cautions that President Trump’s Greenland tariff threat could backfire, exposing the U.S.’s massive debt and financial vulnerabilities amid rising tensions with Europe. ‎Demetrius Freeman/The Washington Post via Getty Images ‎ ‎He added that the levy would rise to 25% on June 1, 2026, and would remain in force until a deal was struck for what he described as the “complete and total purchase of Greenland.” ‎ ‎Trump has argued that the U.S. needs to acquire Gree...

‎What happens when a generation grows up believing in economic promises that never come true? Gen Z is now confronting that question head-on, much like millennials did after the 2008 financial crisis and its prolonged “jobless recovery,” which reshaped countless lives and expectations. ‎ ‎As the oldest members of Gen Z near their late 20s, their financial behavior is beginning to look markedly different from that of millennials, who experienced the Great Recession as young adults. Born during a period of major economic transformation, Gen Z has developed habits shaped by instability rather than recovery. ‎ ‎Gen Z is redefining money habits through “disillusionomics,” rejecting traditional financial rules as they juggle record debt, multiple income streams, and deep skepticism about the modern economy. ‎Getty Images ‎ ‎Often labeled “doom spenders,” many Gen Zers are known for spending hundreds on concert tickets or international trips, reinforcing the so-called “YOLO econom...

‎The killing of 37-year-old Renee Nicole Good in Minneapolis has triggered demonstrations and renewed national attention on the role of US Immigration and Customs Enforcement (ICE). The incident comes amid a surge in immigration enforcement activity under President Donald Trump, placing the agency under heightened public scrutiny. ‎ ‎A detailed explainer on US Immigration and Customs Enforcement (ICE), its origins, arrest powers, use of force, deportation process, and the growing public backlash amid Trump-era immigration policies. ‎Tim Evans/Reuters ‎ ‎Since Trump’s return to the White House, ICE has carried out thousands of arrests, frequently in public spaces. These operations have brought federal immigration agents directly into neighbourhoods nationwide, sparking resistance from residents who oppose the agency’s presence and tactics. ‎ ‎What Is ICE and How Did It Begin? ‎ ‎ICE is the primary agency implementing the Trump administration’s large-scale deportation strateg...

‎Bill Gates quietly directed close to $8 billion to the private charitable foundation of his former wife, Melinda French Gates, in a move that ranks among the largest divorce-related financial transfers ever made public. ‎ ‎The $7.88 billion contribution was completed in 2024 and sent to the Pivotal Philanthropies Foundation, a nonprofit established by French Gates. Details of the transaction emerged through a newly released tax filing reviewed by the New York Times’ DealBook. ‎ ‎New tax documents reveal Bill Gates quietly transferred nearly $8 billion to Melinda French Gates’ private foundation, one of the largest divorce-related payouts ever disclosed. ‎Kevin Mazur/Getty Images ‎ ‎This disclosure represents the first time specific financial terms connected to the couple’s 2021 divorce have entered the public record, following their decision in 2024 to formally separate their shared philanthropic efforts. ‎ ‎When French Gates stepped down as co-chair of the Bill and Melind...