U.S. Treasury data showed that the federal budget deficit for fiscal 2026, ending Sept. 30, widened by $217 billion from a year earlier to $1.99 trillion, the highest level since fiscal 2021. Revenue reached a record $5.4 trillion, while spending totaled $7.4 trillion. Debt service costs rose 12% to $1.36 trillion. Net customs duty revenue fell 11% after a Supreme Court ruling led to $145 billion in tariff refunds. The deficit was equal to 6.2% of GDP. The figures outline a wider fiscal gap even as government revenue hit a record high, with higher debt servicing and lower tariff income both reflected in the latest Treasury data.
According to data from the U.S. Treasury Department, the federal budget deficit for fiscal 2026, which ended on Sept. 30, widened by $217 billion year over year to $1.99 trillion, the highest level since fiscal 2021.
Revenue and spending
Treasury data showed that fiscal 2026 revenue reached a record $5.4 trillion, while total spending came in at $7.4 trillion.
Debt service and tariff income
Debt service costs increased 12% to $1.36 trillion. Net customs duty revenue fell 11% after a Supreme Court ruling resulted in $145 billion in tariff refunds.
Deficit-to-GDP ratio
The fiscal 2026 deficit amounted to 6.2% of GDP.
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