Kevin Burbach / AP

Now that Republicans are in charge: True-blue deficit hawks are worried about having too much faith in right-leaning reforms to boost economic growth. "You're not going to be able to grow your way out of this one," Oklahoma Republican Tom Cole argued to the Wall Street Journal Sunday. Cole has data on his side: Government debt is set to rise steeply over the next ten years, even absent new spending initiatives and tax cuts proposed by the Trump Administration.

The German export engine is losing steam: Deutsche Bank argues that an aging population and an influx of immigrants will force down the famously high savings rate in Germany, and help begin the process of lowering its overall trade surplus. This would be music to the White House's ears, but the U.S. is also facing similar demographic trends. Expect Germany to maintain its trade surplus with America, and remain on the Trump Administration's list of unfair traders.

Tiffany benches CEO: Tiffany announced the dismissal of its CEO Frederic Cumenal on Sunday after less than two years on the job, and just weeks after reporting disappointing holiday sales. The move is the latest of several high profile leadership changes in the luxury retail sector of late, and shows that even America's most valuable luxury brands are struggling as consumers shift more of their purchases online.

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3 hours ago - Health

15 states broke single-day coronavirus records this week

Data: Compiled from state health departments by Axios; Map: Danielle Alberti/Axios

At least 15 states broke their single-day novel coronavirus infection records this week, according to state health department data reviewed by Axios.

The big picture: The number of coronavirus cases increased in the vast majority of states over the last week, and decreased in only two states plus the District of Columbia, Axios' Andrew Withershoop and Caitlin Owens report.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 11,143,945 — Total deaths: 527,681 — Total recoveries — 6,004,593Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 2,818,588 — Total deaths: 129,584 — Total recoveries: 883,561 — Total tested: 34,213,497Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona's hot spot reach near capacity.
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Trump extends PPP application deadlineKimberly Guilfoyle tests positive.
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: 31 MLB players test positive as workouts resume.
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.
4 hours ago - Health

In photos: America celebrates July 4 during global pandemic

Photo: Francine Orr/Los Angeles Times/Getty Images

The U.S. has already celebrated Easter, graduations and so much more during the coronavirus pandemic, and now it can add July 4 to the list.

The state of play: Axios' Stef Kight writes public parades and fireworks displays around much of the country are being canceled to prevent mass gatherings where the virus could spread. Hot-dog contests and concerts will play to empty stands and virtual audiences — all while American pride treads an all-time low.