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Oct 16 (Reuters) – The US budget deficit rose by $217 billion to $1.99 trillion in the 2026 fiscal year, fueled in part by tariff refunds and record spending to service the nation’s more-than $40 trillion in debt, marking the largest budget shortfall in five years, Treasury Department figures reported on Friday showed. The results for the year ended September 30, the first full budget year of President Donald Trump’s second term, compared to a $1.78 trillion deficit in fiscal 2025. It was the largest shortfall since fiscal 2021’s $2.77 trillion budget gap, then fueled by COVID-19 pandemic relief spending, and is the third- largest annual deficit ever. Total receipts for fiscal 2026 were a record $5.40 trillion, up $169 billion, or 3%, from the $5.24 trillion in fiscal 2025. Fiscal 2026 outlays also were a record at $7.40 trillion, up $386 billion, or 6%, from the $7.01 trillion in the prior fiscal year. Debt-service outlays totaled a record $1.36 trillion, climbing by $144 billion, or 12%, a spending category now eclipsed only by Social Security and the combined outlays for Medicare and Medicaid. Total US debt breached the $40 trillion milestone about two months ago. Another driver of the widening shortfall was a $22 billion drop in net tariff receipts following a Supreme Court ruling this year negating a large portion of the tariffs Trump had imposed during his first year in office. That triggered $145 billion of tariff refunds over this year, resulting in an 11% decline in net tariff income to about $173 billion. A U.S. Treasury official said the department calculated an estimated deficit-to-GDP ratio of 6.2% for fiscal 2026, but declined to say what GDP estimate was used. This figure compares to an actual 5.8% deficit-to-GDP ratio for fiscal 2025. For the 2026 fiscal year’s final month of September, the Treasury reported a deficit of $27 billion versus a $198 billion surplus a year earlier. (Reporting by Dan Burns; Editing by Andrea Ricci) Brought to you by www.srnnews.com

By Field Level Media Oct 16 (Field Level Media) – Atlanta Falcons quarterback Michael Penix Jr. did not receive an injury designation on Friday and is on track to start Sunday’s game against the visiting Chicago Bears. Penix, who has been a full participant in practice this week, sustained a rib injury late in the fourth quarter of last Sunday’s 30-23 overtime loss to the Baltimore Ravens. Tua Tagovailoa replaced Penix in overtime and threw a game-ending interception on his second play. Penix, 26, missed the first two weeks of this season to complete his recovery from ACL surgery. He has completed 67.5% of his passes for 719 yards, three touchdowns and one interception while posting a 2-1 record in three starts. Atlanta defensive end Za’Darius Smith (neck) has cleared the concussion protocol but is listed as questionable to play on Sunday. Cornerback C.J. Henderson (groin) has been ruled out for the Falcons (2-3). (–Field Level Media) Brought to you by www.srnnews.com

By Field Level Media Oct 16 (Field Level Media) – Baltimore Ravens quarterback Lamar Jackson will miss his second straight game with an ankle injury on Sunday at Cleveland. Tyler Huntley will start under center when the Ravens (4-1) visit the AFC North rival Browns (3-2), the team confirmed Friday. Jackson has not practiced since sustaining the injury late in the first half in the Week 4 win against the Tennessee Titans. Earlier this week, Ravens head coach Jesse Minter said the two-time NFL MVP remains “definitely day-to-day.” “To Lamar’s credit, he’s working his butt off,” Minter said Wednesday. “He’s doing everything he can to be out here. And when he’s able to be, he will.” Jackson, 29, has completed 70.8% of his passes for 967 yards, six touchdowns and one interception in four games this season. He has rushed for 144 yards and one score. Huntley, 28, completed 24 of 32 passes for 201 yards, two touchdowns and no interceptions in last Sunday’s 30-23 overtime win at Atlanta. His 1-yard touchdown run in overtime gave Baltimore its third straight win. (–Field Level Media) Brought to you by www.srnnews.com

By Philip Blenkinsop BRUSSELS, Oct 16 (Reuters) – The European Commission will propose curbs on imports from China going beyond the safeguard measures it agreed with Beijing to halve inbound shipments of Chinese hybrid cars, European Commission President Ursula von der Leyen said on Friday. Von der Leyen told a news conference after an EU summit that the deal struck with China would not fix the structural imbalance. The EU’s goods trade deficit with China is running at more than €1 billion ($1.12 billion) a day. “And this is why we need to act,” she said. “Our industries have called for action and we have heard them and we will respond, including some more safeguards.” She said this was clearly supported by EU leaders. French President Emmanuel Macron told reporters after the summit that the EU should focus on measures for chemicals, plastics and ferro-alloys.  Von der Leyen said that she welcomed a Franco-German paper published last month, which proposed the European Union reinforce its economy by enacting a new rapid-action measure to strike back against countries that harm it. She said the Commission would develop a new instrument to rapidly limit access to the EU single market where this was in the bloc’s interest. She also said the EU’s executive Commission would make a proposal in December for a new instrument that would limit EU companies’ reliance on single sources for certain critical supplies. The Commission would also propose a “solidarity mechanism” to help countries or sectors that are subject to coercion or retaliation from outside the EU. ($1 = 0.8913 euros) (Reporting by Philip Blenkinsop and Charlotte Van Campenhout; additional reporting by Inti Landauro and Andrew Gray; Editing by Kirsten Donovan) Brought to you by www.srnnews.com

WASHINGTON, Oct 16 – US President Donald Trump said on Friday that he did not think either he or Elon Musk was responsible for Ukraine losing Starlink access in a way that affected its military operations against Russia. The reduction in services provided by the satellite company interrupted communications with headquarters and caused internet speeds to drop. Reuters reported on Thursday that the White House approved the reduction in Starshield services. Trump, speaking to reporters as he left the White House on a trip to Georgia, said neither he nor Musk was responsible for Ukraine losing Starlink access. Any limit to Ukraine’s access to the Starshield system was not imposed by the United States, Trump added.Starshield was developed by SpaceX specifically for government and national-security customers, particularly the US Department of Defense. Starshield uses the Starlink ​constellation as its backbone. Trump also he has a good relationship with Ukraine President Volodymyr Zelenskiy. (Reporting by Trevor Hunnicutt, Steve Holland and Jasper Ward in Washington; Editing by Caitlin Webber) Brought to you by www.srnnews.com