U.S. Budget Deficit Nears $2 Trillion as Interest Costs Surge

Name: U.S. Budget Deficit Nears $2 Trillion as Interest Costs Surge
Uploaded: 2026-10-16T21:11:47.100794+00:00
Description: The U.S. federal deficit climbed to $1.99 trillion in fiscal 2026, up 12% from a year earlier, as net interest costs rose to $1.36 trillion. The figures undercut President Donald Trump's pledge that spending cuts and tariffs would meaningfully narrow the budget gap.

The U.S. federal deficit climbed to $1.99 trillion in fiscal 2026, up 12% from a year earlier, as net interest costs rose to $1.36 trillion. The figures undercut President Donald Trump's pledge that spending cuts and tariffs would meaningfully narrow the budget gap.

Read the full story