The US federal budget deficit expanded to $404.1 billion in October 2026, the first month of fiscal 2027, according to the Monthly Treasury Statement published by the Bureau of the Fiscal Service. Outlays increased 12.2% to $773.0 billion, driven by higher spending on national defense, Medicare, and net interest, while receipts fell 8.8% to $368.9 billion. The decline in revenue was largely due to lower individual income tax payments and a significant drop in net customs duties. Federal debt held by the public rose by $313.4 billion during the month, reaching $32.74 trillion.
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