The federal government recorded a $1.99 trillion deficit for fiscal 2026, which ended on September 30, according to the Monthly Treasury Statement. This figure is $217.1 billion higher than the fiscal 2025 deficit, representing a 12.2% increase. The gap widened because outlays grew by 5.5% while receipts increased by only 3.2%. The deficit was lower than the previous year's pace through March but reversed sharply in the second half, with the July-to-September quarter alone adding $188.0 billion to the annual total.
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