US Budget Deficit 2026: US Fiscal 2026 Budget Deficit Rises to $1.99 Trillion, Largest in 5 Years

$2 trillion, and no excuse

The federal government just closed fiscal year 2026 with a deficit of nearly $2 trillion, according to new figures the Congressional Budget Office released. Only the two pandemic years of 2020 and 2021 were worse.

US budget deficit grows to nearly US$2 trillion, highest since 2021

The expansion comes amid growing worries over the massive US$40.3 trillion US debt load and rising inflation, as the cost of borrowing climbs.

US Budget Deficit Nears $2trn, Highest Since 2021

Among other sectors, spending on defence military programmes increased by $48 billion, or six per cent, over the year to $917 billion.

US deficit hits $2T in a year, highest level since 2021

Record interest costs and tariff refunds widen US budget gap as spending outpaces revenue, adding to concerns over a whopping $40.3 trillion debt burden and mounting borrowing pressures.

US budget deficit grows to nearly $2 trillion, highest since 2021

The expansion comes amid growing worries over the massive $40.3 trillion US debt load and rising inflation, as the cost of borrowing climbs. Refunds of Trump's tariffs after they were overturned have further fueled the budget gap. The federal deficit, which occurs when government spending exceeds its revenues, rose to $1.99 trillion in fiscal year 2026, the Treasury Department said. This marked a 12-percent increase from the prior year, when the…