US budget deficit hits nearly $2 trillion
The US budget deficit rose to nearly $2 trillion in fiscal 2026, driven by record debt service costs and tariff refunds. Total outlays reached a record $7.40 trillion while receipts hit $5.40 trillion.
The United States annual budget deficit expanded by $217 billion to $1.99 trillion in fiscal 2026, marking the largest shortfall in five years. Treasury Department figures released on Friday showed the deficit grew as debt-service costs surged to record levels.
