deficit News Updates

With two months left in the fiscal year, the deficit so far for fiscal 2026 totals $1.8 trillion, Treasury Department data showed Aug. 12.

A large wave of refunds for tariffs declared illegal by the Supreme Court caused the first widening in the federal deficit since the start of this fiscal year.

Treasury refunded nearly $22 billion in tariff revenue collected from importers in May, the first swath of such repayments.

December's deficit was $145 billion, per Treasury Department data. For the first three months of the 2026 fiscal year beginning Oct. 1, the shortfall came in at $602 billion.

The deficit for the fiscal year was $1.78 trillion, down from $1.82 trillion in 2024, a drop of 2%, according to figures released by the Treasury Department Oct. 16.

Mark Carney’s task is to convince Canadians and opposition lawmakers that his planned spending will eventually boost the resilience and productive capacity of the economy.

WASHINGTON — The Biden administration is forecasting that this year’s budget deficit will be nearly $400 billion lower than it estimated back in March, due in part to stronger than expected revenues, reduced spending and an economy that has recovered all of the jobs lost during the multiyear pandemic.

WASHINGTON — The U.S. budget deficit totaled $2.77 trillion for 2021, the second highest on record but an improvement from the all-time high of $3.13 trillion reached in 2020.

WASHINGTON — The U.S. trade deficit narrowed in April to $68.9 billion as an improving global economy boosted sales of American exports.

The U.S. budget deficit through the first three months of this budget year is up 11.8% from the same period a year ago, putting the country on track to record its first $1 trillion deficit in eight years.