One Nation, Under (a Lot of) Debt

What's Happening

Economy

One Nation, Under (a Lot of) Debt 

What's going on: The US has always had a bit of a spending habit. But now, Wall Street’s alarms are loud enough to break through even the AirPods Max of finance bros. The US spends over $1 trillion a year just on interest payments — more than on Medicaid and defense combined. Making things worse? The GOP’s Big Beautiful Bill (yes, they’re still calling it that). The massive tax-and-spending package, now in the Senate, could add $3 to $5 trillion to the national debt over the next decade, per the Committee for a Responsible Federal Budget. Among the loudest critics? Elon Musk, who displayed his signature restraint and called the bill a “disgusting abomination” that would blow the deficit sky-high. Meanwhile, the once-vocal deficit hawks in Congress? Nowhere to be found. 

What it means: There’s been debt doomsday talk before, but this isn’t another boy-who-cried-wolf moment. According to The Washington Post, top Wall Street execs are privately warning the Trump administration that the bill could spike borrowing costs, rattle markets, and drag down the broader economy. And while a US default still seems far-fetched (the treasury secretary insists it’ll “never” happen), confidence in the government’s ability to responsibly manage its books is starting to fray. Other experts have warned the US is on the brink of a debt crisis that could spiral out of control and affect mortgage and credit card rates, Social Security payments, and global financial stability. Trump doesn’t appear to be budging, saying he wants the bill on his desk by the Fourth of July. So, brace for a sprint and hope the fireworks stay metaphorical.

Related: Will It Be a TACO Wednesday? New Steel Tariffs Go Into Effect (BBC)

US News

As Corporate Sponsors Bail, Pride Powers On

What's going on: Pride Month is here — but the vibe is less rainbow corporate logos, more grassroots resilience. As DEI becomes a political punching bag for the Trump administration, some of Pride’s biggest corporate sponsors are backing off. A recent survey of 200 execs found nearly 40% plan to scale back Pride participation this year. That’s already having real financial impacts. NYC Pride is facing a $750,000 shortfall. In San Francisco, Anheuser-Busch, Comcast, and Diageo pulled out, leaving a $200,000 gap. But the hit has been even harder on smaller, rural events, where donations have dropped 70% to 90%, according to the United States Association of Prides. In some cases, the breakups are mutual. Twin Cities Pride turned down Target’s sponsorship over concerns about its DEI backpedaling — and raised $50K from local donors in just 24 hours.

What it means: Pride may have lost some corporate dollars, but it hasn’t lost momentum. Events are still happening — and in some places, expanding. Washington, DC is hosting over 300 events as part of World Pride 2025, even as the White House says President Donald Trump has “no plans” to officially recognize Pride Month. Meanwhile, the celebrations are unfolding against a backdrop of increasing anti-LGBTQIA+ legislation — the ACLU says 588 such bills have been proposed so far. Pride flag bans at schools and government buildings have also passed in Utah, Idaho, and Montana. Still, activists say the movement is stronger than sponsorships, and NYC Pride called this year’s events “more essential than ever."

Related: Pete Hegseth Ordered Navy To Rename Ship Honoring Harvey Milk (ABC News)

Health

Older Americans Have a New Joint They're Clinging To

What's going on: More older Americans are lighting up — and we are not talking about birthday candles. A new study found marijuana use among adults 65 and older jumped from 4.8% in 2021 to about 7% in 2023. The rise is especially noticeable among those with hypertension, diabetes, or COPD, and it’s happening more among women. The results aren’t exactly shocking — medical marijuana is legal in 39 states, and 24 allow it for recreational use, and many seniors don’t see the old puff, puff, pass as that risky anymore. But the study doesn’t separate medical from recreational use, which has health experts sounding some cautious alarms.

What it means: While marijuana may help manage chronic pain and sleep issues, researchers are still working to understand its long-term effects. One study author warned that cannabis can complicate chronic disease management and might be harmful if patients aren’t properly educated. Doctors also cautioned about the risks for seniors already on prescription meds. Meanwhile, a separate study from earlier this year found that older people who were hospitalized after using cannabis were almost twice as likely to develop dementia within five years. As the weed industry picks up on the trend and markets to older citizens, experts say it's high time we get more answers on the risks.

Related: Meanwhile, Trump Is Pulling Guidance Requiring Hospitals to Perform Emergency Abortions (AP News)

Highlight Reel

BY SKIMM SPORTS

The week's sports news and culture stories, ranked.

Hang it in the Louvre: Natasha Cloud jumps for joy as the New York Liberty bench celebrates the already historic start to their WNBA season. That elevation, though. 

MVP?: The most unexpected celeb scored an invite to Josh Allen and Hailee Steinfeld’s wedding.

Checkmate: Chess grandmaster Magnus Carlsen lost his cool when a 19-year-old took out his king. 

Lace up: Women’s rugby is finally getting official footwear, and we all know who to thank. 

Settle This

Which grocery delivery company opened its first-ever brick-and-mortar location?

Extra Credit

Stream

Cross Ted Lasso with Happy Gilmore and you get Stick. In the new Apple TV+ comedy (the first three episodes are now streaming), Owen Wilson stars as Pryce Cahill, a washed-up former big-deal golfer, who, two decades after his career was derailed by a meltdown on the course, loses his marriage, his job at a sporting-goods store in Indiana, and whatever’s left of his dignity. With nowhere else to aim, he reluctantly agrees to coach a teenage golf prodigy (Peter Dager). Add to that: Judy Greer in the role of Pryce's ex-wife, Marc Maron playing Pryce's cantankerous caddy, and Timothy Olyphant as another former PGA hotshot — and, to borrow a word from the golf world, fore.

Game Time

Looking for a crossword that’s not impossible to solve? You’re in luck. This one even offers hints when you get stuck. The faster you finish, the better your score — and the more impressed the group chat will be. Go on.