Andrew Harnik / AP

Veterans Affairs Secretary David Shulkin told senators Wednesday the VA has a budget shortfall of $1 billion and that it is holding back on some services, per the AP. Lawmakers are worried this could delay care, but the VA is insisting there will be no delays and in the meantime is asking lawmakers for permission to shift money around to cover the gap.

The shortfall is rooted in the VA Choice program, which veterans have increasingly been using for medical care outside of the VA.

The surprise: The program was expected to run out of money, but this pushes that expected date up. Trump just signed a bill in April removing its original end date of August 7, 2017.

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Uber to buy Postmates in $2.65 billion deal

Illustration: Sarah Grillo/Axios

Uber has agreed to acquire food delivery company Postmates for $2.65 billion in an all-stock deal, the companies announced Monday.

Why it matters: This is the latest merger for the food delivery space as the sector undergoes an ongoing market consolidation.

Analysts expect soaring stock market despite slashed earnings forecasts

Data: FactSet; Chart: Axios Visuals

Despite cutting expectations for companies' earnings by the most in history and revenue by the most since 2009, Wall Street analysts are getting increasingly bullish on the overall direction of the U.S. stock market.

What's happening: Equity analysts are expecting earnings in the second quarter to fall by 43.8% — the most since 2008's fourth quarter 69.1% decline.

Case growth outpacing testing in coronavirus hotspots

Data: The COVID Tracking Project. Note: Vermont and Hawaii were not included because they have fewer than 20 cases per day. Chart: Andrew Witherspoon/Axios

The United States' alarming rise in coronavirus cases isn't due to increased testing — particularly not where cases have grown fastest over the last month.

Why it matters: The U.S. doesn't yet know what it looks like when a pandemic rages on relatively unchecked after the health system has become overwhelmed. It may be about to find out.