U.S. Federal Budget Deficit Reaches $2 Trillion in Fiscal 2026

According to Jin10, the U.S. Treasury said on November 9 that the federal budget deficit totaled $2.0 trillion in fiscal 2026, which ended September 30, up $217 billion, or 12%, from the previous fiscal year. Revenue and spending both rose from fiscal 2025: revenue increased 3%, or $169 billion, while spending grew 6%, or $386 billion. The fiscal 2026 deficit equaled 6.2% of GDP, compared with 5.8% in fiscal 2025. Publicly held federal debt reached 100% of GDP in fiscal 2026, its highest level since 1946 and above 99.0% at the end of fiscal 2025.