Congress Mum on Federal Deficit Hitting $2 Trillion Milestone

Congress mum on federal deficit hitting $2 trillion milestone - The Daily Bo Snerdley

  (The Center Square) – Eleven months into fiscal year 2026, the U.S. government has added $2 trillion to the national debt, borrowing $168 billion during August alone, the Congressional Budget Office estimates. The federal government has collected $4.8 trillion and spent $6.8 trillion, generating a deficit already higher than last year’s with still a month of borrowing to go. “Such extraordinarily high deficits are just one piece of our fiscal …

Congress mum on federal deficit hitting $2 trillion milestone

(The Center Square) – Eleven months into fiscal year 2026, the U.S. government has added $2 trillion to the national debt, borrowing $168 billion during August alone, the Congressional Budget Office estimates.

Deficit hits $2 trillion with a month to go in the fiscal year, CBO says

U.S. borrowed $2 trillion in just 11 months of fiscal 2026, despite record tax revenue. Interest payments on the national debt jumped 14 percent and now outpace defense spending. Social Security, Medicare and Medicaid costs kept climbing faster than the economy can sustain. Corporate tax collections fell sharply while tariff revenue came in well below projections. Adjusted for payment timing, this year's deficit is actually running higher th…

The US budget deficit amounted to $2 trillion, the Congressional Budget Office reported

The US budget deficit amounted to $2 trillion, the Congressional Budget Office reported.The budget deficit is the main reason for the growth of the US national debt, which previously exceeded a record $40 trillion.