Federal deficit already passes last year's totla

Headline USA –  Only nine months into fiscal year 2026, the U.S. government has already borrowed $1.4 trillion, surpassing the entire federal deficit of the previous fiscal year.

The federal government collected $4.2 trillion over the past nine months and spent or lost a total of $5.5 trillion, according to a new Congressional Budget Office report.

During the month of June alone, the nation added $126 billion to the over $39 trillion national debt.

“We will likely borrow $2 trillion or more this fiscal year – an astounding figure given that the economy keeps growing and unemployment is low,” Maya MacGuineas, president of the Committee for a Responsible Federal Budget, stated in response to the report.