Michel Euler / AP

The next French president will face a river of red ink, the European Commission warned Monday in its Winter 2017 Economic Forecast. The outlook says that the French deficit would fall above the mandated 3% threshold next year at 3.1%, on rising civil service pay and higher healthcare costs.

Why it matters: Back in January of 2016 EU Economic Affairs Commissioner Pierre Moscovici said that because France has already been given two extensions to get its deficit under control, they will not be granted another. But the EU has never actually penalized a country for breaching the deficit limit before, and won't start with France, the EU's second great power after Germany. Still, the issue will likely raise tensions between European budget hawks (mostly from Germany) and those who see the deficit cap as arbitrary and counterproductive to economic growth.

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What to watch in tonight's debate

Joe Biden (left) and President Trump (right) are facing off in Cleveland for the first presidential debate. Photos: Alex Wong (of Biden) and David Hume Kennerly (of Trump)/Getty Images

President Trump will try to break Joe Biden's composure by going after his son Hunter and other family members in tonight's first presidential debate — a campaign source tells Axios "nothing will be off the table" — while Biden plans to stick to the economy, coronavirus and new revelations about how Trump avoided paying taxes.

Driving the news: Biden and Trump are set to debate at 9 p.m. ET at Case Western Reserve University in Cleveland, and it will be moderated by Fox News' Chris Wallace.

Massive layoffs hit Disney theme parks

A person posing for a photo in front of the iconic Disney castle at Disneyland Resort in Hong Kong on Sept, 25. Photo: Miguel Candela Poblacion/Anadolu Agency via Getty Images

Disney is laying off 28,000 workers at its theme parks and experiences and consumer products divisions, the company said in a statement Tuesday.

Why it matters: The coronavirus pandemic has forced the company to close its California theme parks and limit attendance at re-opened parks elsewhere around the U.S. Around 67% of the 28,000 laid off workers are part-time employees, according to Josh D’Amaro, chairman of Disney's parks, experiences and products division.

Erica Pandey, author of @Work
27 mins ago - Economy & Business

United States of burnout

Illustration: Aïda Amer/Axios

Postponed vacations, holidays in isolation and back-to-back virtual meetings are taking a toll on millions of American workers.

Why it matters: As we head into the fall, workers are feeling the burnout. Such a collective fraying of mental health at work could dampen productivity and hinder economic growth across the country.