October 16, 2026 · Economy, Trade & Fiscal Policy
Confirmed
Federal Deficit Hits $1.99 Trillion in Fiscal 2026 as National Debt Tops $40 Trillion
The federal deficit for fiscal year 2026, which ended Sept. 30, reached roughly $1.99 trillion, Treasury Department data released Oct. 16 show -- a 12% increase over fiscal 2025 and the third-highest deficit on record...