Today in News History

On July 2, several notable moments in the history of News stand out. In 1890, The U.S. Congress passes the Sherman Antitrust Act. In 1932, Manuel II of Portugal (born 1889) passed away. In 1942, Vicente Fox, Mexican businessman and politician, 35th President of Mexico was born. In 1950, Jon Trickett, English politician was born. In 1961, Ernest Hemingway, American novelist, short story writer, and journalist, Nobel Prize laureate (born 1899) passed away. In 1997, The Bank of Thailand floats the baht, triggering the Asian financial crisis. In 2006, Jan Murray, American comedian, actor, and game show host (born 1916) passed away. In 2013, A magnitude 6.1 earthquake strikes Aceh, Indonesia, killing at least 42 people and injuring 420 others. In 2016, Michael Cimino, American director, producer, and screenwriter (born 1939) passed away. In 2020, Ángela Jeria, Chilean archaeologist (born 1926) passed away. Together, these milestones provide historical context for today's news news and ongoing narratives.

AI’s $2.2 trillion deficit fix is already half fake, economists say

Fortune

July 2, 2026

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AI’s $2.2 trillion deficit fix is already half fake, economists say

A new Brookings/Fed paper finds AI productivity could meaningfully shrink the U.S. deficit — until you count the side effects, which could erase more than half the savings before Washington even cashes the check.

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