Budget deficit hits $1 trillion in first five months of fiscal year: CBO

Federal budget deficit reached $1 trillion in five months through February 2026 as tax revenue jumped $206 billion due to higher income tax and tariff collections, CBO data shows.

U.S. government has spent $1 trillion more than it took in for first 5 months of fiscal 2026

The United States' budget deficit reached $1 trillion through the first five months of the current fiscal year as uncertainty about the future of the Trump administration's tariff agenda is set to ...
Arkansas Democrat-Gazette

Federal deficit rising more slowly than in 2025, yet still on track to add $1.9 trillion to debt this year

WASHINGTON -- The United States' deficit for the current fiscal year is increasing at a lower rate compared to the prior year, with the federal government ending January with a nearly $697 billion gap ...
Iowa Public Radio

Iowa faces back-to-back $1 billion budget deficits as panel reduces revenue estimates

The state of Iowa’s spending is once again expected to exceed its revenue by about $1 billion in the next fiscal year as revenue declines due to state and federal tax cuts.