CBO
Social Security benefits warning: Will retirees lose $500 a month when the retirement trust fund runs out in 2032? What the latest forecast means for your monthly checks
The Social Security retirement fund is projected to exhaust its reserves by the end of 2032 without any legislative intervention. If changes are not made, monthly benefits for retirees might face substantial reductions, estimated between 22% and 26%. This impending decline is attributed to demographic shifts like an increasing elderly population and dwindling birth rates. Lawmakers have a limited timeframe to tackle these pressing issues before retirees experience significant cuts.
ET Wealth Expo 2026: From building wealth to financial freedom, two days of insights for today’s investors
Mark your calendars for the ET Wealth Expo 2026, happening on October 30 and 31 at Mumbai's NESCO Convention Centre. This event promises to bring together top professionals for insightful discussions on investment strategies and wealth management. Attendees can expect sessions covering crucial topics such as intergenerational wealth transfer and global investment opportunities, alongside keynote speeches aimed at addressing future challenges in wealth management.
byteXL strengthens leadership team to fuel AI and skilling push
byteXL has appointed four senior executives across operations, business, strategy and finance as it prepares to scale its institutional network from 40 to 120 colleges and reach 500,000 students over the next two years. The company is also expanding programmes in AI, GCCs, electric vehicles, semiconductors and precision engineering as it shifts towards a deeper technology focus.
Who is losing food stamps? SNAP enrollment fell 13% in a year - which states lost the most and why the CBO expects more decline
Millions of Americans have dropped off the food stamp rolls. SNAP enrollment fell from 42.2 million in May 2025 to 36.6 million in May 2026, a 13% drop. Arizona lost about half its recipients. The new work rules are widely blamed.
US fiscal 2026 budget deficit rises to $1.99 trillion, largest in 5 years
The US budget deficit for fiscal 2026 rose to $1.99 trillion, driven by increased tariff refunds and spending. Total spending for the year reached a record $7.40 trillion, while total receipts were $5.40 trillion. Net tariff receipts fell significantly, contributing to the deficit increase as refunds reached $145 billion. The debt-service outlays recorded a new high of $1.36 trillion during this fiscal year.
AMFI Data: MF SIP inflows hit record high of Rs 32,490 crore in September
Mutual fund SIP inflows touched a record Rs 32,490 crore in September, rising 11% year-on-year. Equity mutual fund inflows surged 31% month-on-month to Rs 38,306 crore, led by smallcap funds, which attracted a record Rs 9,038 crore for the third consecutive month as the top category. Meanwhile, ELSS funds recorded net outflows for the 14th straight month.
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The ET Startup Awards 2026 special
Happy Monday! The Economic Times Startup Awards (ETSA) 2026 ceremony brought together the country’s top founders, investors, and policymakers in Bengaluru for a Friday evening of sharp insights and spirited conversations.
Flipkart alumni seek Esop buyout; Local sourcing for ISM 2.0
Former Flipkart executives are seeking a full cash-out of vested Esops. This and more in today’s ETtech Top 5.
ET Exclusive: Flipkart’s former suites write to Walmart board, seek fair treatment and full cash out of vested ESOPs
A group of former senior Flipkart executives has urged Walmart to buy back their vested stock options. This request comes after the company's plans for an initial public offering have been postponed again. Recent leadership changes at Flipkart have highlighted ongoing tensions between former executives and current management. The signatories argue that those who contributed to Flipkart's success deserve liquidity opportunities.
Apple Pay lands in India; Google executive on AI's next big hurdle
Apple Pay has finally arrived in India, giving iPhone users a new way to make payments. This and more in today’s ETtech Top 5.
Ex-Livspace duo’s interiors startup Gravity raises $15 million from 3one4 Capital, Info Edge, others
Livspace cofounder Saurabh Jain’s new home interiors venture Gravity has raised $15 million in equity and debt, led by 3one4 Capital and Info Edge Ventures.
From CRM to performance intelligence: The next edge in enterprise sales
The companies that keep growing are the ones whose teams work to one plan and link the skills they build to the results they want.
Experts urge policy makers to recognise senior living as a specialized asset class
As India's senior population rises significantly by 2050, a shift toward a comprehensive longevity ecosystem is necessary. Stakeholders emphasize developing communities that offer not only housing but also healthcare services and social engagement. Prominent developers are beginning to design projects that prioritize resident experiences and well-being. This integrated approach could reshape the perception of aging in Indian society.
Piyush Goyal plans 1,000-strong regional language network to handhold exporters
India will train one thousand local personnel in regional languages to support exporters. Integrated commerce and industry offices are planned for major cities to streamline access. Industry representatives highlighted the need for digital interoperability and improved export processes. The government is examining proposals for electronic transmission of Certificates of Origin. Enhanced logistics and simpler customs procedures are crucial for export growth.
Trump’s Iran war bill hits $45.1 billion and counting
The Pentagon estimates the US conflict with Iran has cost $45.1 billion. This figure surpasses earlier Congressional Budget Office projections for the war. The Pentagon's estimate includes war-related expenses and additional fuel costs. However, it does not cover repairs or indirect military operation costs. The conflict's ongoing nature suggests continued financial expenditures.
TRUE ARTIS raises Rs 11.4 crore to expand network of premium aesthetic surgery centres
Seed round led by Zeropearl VC will support two new centres in Delhi NCR, expansion of specialist teams and technology-led patient care
US military says it destroyed 2 small Iranian boats trying to steal a sea drone
The US military destroyed two Iranian boats attempting to seize a drone ship. This incident occurred in waters off Iran, escalating recent tensions between the two nations. Global oil markets face further pressure from increased attacks by Houthi rebels in Yemen. The conflict has significantly impacted oil prices and poses political challenges. The war's cost to the Pentagon has exceeded thirty-eight billion dollars.
Oil Price Today (September 16): Crude oil hovers below $109 despite rising Saudi supply concerns. $120 soon?
Investors are now watching how long Saudi Arabia’s East-West pipeline will remain out of operation. Drone strikes forced the pipeline to shut last week, and Saudi Aramco has since delayed oil deliveries to some European buyers this month, according to a Bloomberg report.
Iran war cost hits $38 billion, forecast to rise $3 billion a month, CBO says
The six-month U.S. war against Iran has cost $38 billion through August 1, with expenses projected to rise by $3 billion monthly, the Congressional Budget Office said. The conflict has depleted munitions stockpiles, raised energy prices and could increase inflation by 0.5% in early 2027, straining US defence readiness and finances.
Tom Aspinall net worth: UFC star’s fortune, wife Justyna, family and career
Tom Aspinall has stepped down from his position as UFC heavyweight champion in light of ongoing eye complications. After enduring several surgeries and dealing with infections, he made the tough decision to prioritize his health over holding the title. Aspinall expressed a desire to avoid hindering the division's progress and aims to focus on his recovery, with plans to return once he receives medical clearance.
Trump’s $5,000 dividend check: What we know about the promised payment, its $1.2 trillion cost and who would qualify
Donald Trump has proposed a $5,000 payment to each adult citizen if Republicans secure victory in Congress. This ambitious plan, estimated to cost around $1.2 trillion, must navigate considerable constitutional and legislative challenges. It’s important to note that winning elections alone does not grant the White House the power to distribute these funds; specific congressional legislation is required.
Flipkart's new Minutes app; Anthropic employee sounds alarm
Flipkart has launched a standalone app for its quick commerce unit Minutes. This and more in today’s ETtech Top 5.
Ajit Mohan steps down as Snap's chief business officer
The company has elevated Ronan Harris, who has led its business across Europe, the Middle East and Africa for nearly four years, to the role of chief commercial officer.
Comet, the homegrown sneaker brand, raises Rs 100 crore in Series B round led by Verlinvest
Homegrown sneaker brand Comet secured Rs 100 crore in Series B funding. This investment was led by Verlinvest and included existing investors. The capital will fuel retail expansion and product development initiatives. Comet plans to double its footwear models and reach twenty stores. This funding will significantly scale the brand's national presence.
Semicon 2.0 takes shape; Zomato’s Hyderabad layoffs
The government has notified Semicon 2.0 to boost India’s semiconductor ecosystem. This and more in today's ETtech Top 5.
Snap sees opportunity as Indian advertisers look beyond Google, Meta: CBO Ajit Mohan
Advertisers are looking beyond Google and Meta as concerns over dependence on the two platforms grow, Snap’s Ajit Mohan told ET. Snapchat has crossed 250 million users in India, while domestic advertisers have grown 10x in two years. Snap is also expanding its advertising and subscription businesses to diversify revenue.
US budget deficit to grow to $1.853 trillion in FY2026, CBO says
The CBO said that the deficit for fiscal 2026 will be about 5.8% of GDP, about where it was in fiscal 2025, with a deficit of $1.775 trillion.
The tiny office with 275 employees blocking Trump’s 'Big, Beautiful Bill'
The Congressional Budget Office (CBO) finds itself at the center of a political storm in Washington. Its projection indicates that President Donald Trump's proposed bill could increase the federal deficit. Republicans challenge the CBO's economic assumptions. They believe the bill will spur economic growth. Democrats embrace the CBO's findings. They argue that the legislation is fiscally irresponsible.
US faces population decline by 2033, record-high debt, and slower growth without immigration, CBO warns
The US population is projected to start shrinking in 2033 unless immigration drives growth, per a CBO report. Deaths are expected to surpass births, making immigration crucial for sustaining labor force participation. Economic growth is forecasted to slow to 1.6% annually over 30 years, with concerns over rising public debt amidst limited productivity gains.
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