U.S. fiscal 2026 deficit hits $1.99 trillion, largest in five years
4 sourcesLeft-leaning 2Center 1Right-leaning 1
Summary
The federal budget deficit for the fiscal year that just ended reached nearly $2 trillion, the largest gap since 2021, Treasury figures show. Higher interest rates increased borrowing costs, while spending included outlays tied to the Iran war and tariff refunds. The total marks President Trump's first full fiscal year in his current term.
Left-leaning
- U.S. Budget Deficit Nears $2 Trillion, a Reality Check for Trump’s Cost CuttingNew York Times · Oct 16, 2:28 PM
- Red ink: Federal deficit hits nearly $2 trillionNPR · Oct 16, 4:41 PM
Center
- US annual budget gap hits nearly $2 trillion, largest in 5 yearsReuters · Oct 16, 2:53 PM
Right-leaning
- Fiscal '26 Deficit Hits 5-Year High of $1.99 TrillionNewsmax · Oct 16, 4:59 PM