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Federal deficit totaled $1 trillion in beginning of FY2026, CBO says
Spending on Social Security, Medicare, Medicaid, defense, and debt interest drove the $1 trillion deficit despite $2.1 trillion revenue, CBO reported for FY2026's first five months.
- The Congressional Budget Office reported a $1 trillion deficit in the first five months of fiscal year 2026, with federal outlays of $3.1 trillion.
- Rising entitlement and interest pressures contributed, with Social Security up $48 billion, Medicare increased by $34 billion including a $16 billion Part D settlement, and Medicaid payments rising by $22 billion.
- Tariff collections unexpectedly rose, with customs duties increasing by $109 billion, while income taxes and payroll withholdings grew by $7 billion and $52 billion, respectively.
- The Committee for a Responsible Federal Budget said 'Congressional leaders should reduce deficits and adopt a 3% deficit-to-GDP target', urging action amid the fiscal shortfall.
- The CBO projections show a $109 billion increase in customs duties in February 2026, amplifying near-term borrowing risks as the five-month deficit nears $1 trillion.
24 Articles
24 Articles
Budget deficit hits $1 trillion in first five months of fiscal year: CBO
The federal budget deficit topped $1 trillion in the first five months of fiscal year 2026, as the U.S. government is on pace to record another massive deficit.The nonpartisan Congressional Budget Office (CBO) reported that the federal budget deficit was just over $1 trillion through five months of fiscal year 2026, with the size of the deficit down $142 billion or 14% when compared with the same period in fiscal year 2025.CBO noted that federal…
Watauga Democrat
Federal deficit totaled $1 trillion in beginning of FY2026, CBO says
(The Center Square) - The United States federal budget deficit totaled $1 trillion in the first five months of fiscal year 2026, according to the Congressional Budget Office.
CBO Estimates $1 Trillion Deficit for First Five Months of FY 2026
The United States borrowed $1.0 trillion in the first five months of Fiscal Year (FY) 2026, including $308 billion in February, according to the latest Monthly Budget Review from the Congressional Budget Office (CBO). The following is a statement from Maya MacGuineas, president of the Committee for a Responsible Federal Budget: Another month of the fiscal year means another month of borrowing. The budget deficit has already totaled $1 trillion …
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