DEFICIT DETERIORATION
10/21/2026 |
The FY26 US budget deficit is $1.992 trillion, up 12% vs. FY25. Spending totaled $7.4T, and was up 6%, revenues were $5.4T but up only 3%, half as much as revenues. The deficit exceeds 6% of GDP, up from 5.8% last year. Forget about growing our way out. SS outlays grew 5% to $1.654T, Medicare and Medicaid spending each grew 8% to collectively $1.792T. Interest expenses rose 11% to $1.243T.