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The Economic Times

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US fiscal 2026 budget deficit rises to $1.99 trillion, largest in 5 years

The US budget deficit for fiscal 2026 rose to $1.99 trillion, driven by increased tariff refunds and spending. Total spending for the year reached a record $7.40 trillion, while total receipts were $5.40 trillion. Net tariff receipts fell significantly, contributing to the deficit increase as refunds reached $145 billion. The debt-service outlays recorded a new high of $1.36 trillion during this fiscal year.

16 Oct 2026 11:53 pm