Posted on 08/26/2026 9:32:22 PM PDT by SeekAndFind
The federal deficit will be $2.1 trillion when fiscal year 2026 ends on Sept. 30, the Congressional Budget Office projected in its monthly budget review.
The deficit - the gap between what the government spends and what it collects from taxes and other revenue - has never surpassed $1.8 trillion, except during the Covid-19 pandemic.
Key facts: Federal revenues are up 3% in 2026 compared to last year. Even though corporate income tax revenue has declined, income and payroll tax collections increased.
But federal spending is up 5%, according to the CBO. Interest on the national debt increased 14% compared to last year. Social Security, Medicare, Medicaid, and defense are also facing increased costs.
The CBO originally projected this year's deficit would be $1.9 trillion. The estimate was changed "mostly because of smaller-than-expected collections of tariff duties" after the Supreme Court struck down tariffs imposed by President Donald Trump in February.
Though Trump later imposed new tariffs, the CBO still expects federal revenue to be $250 billion less than originally anticipated. About $100 billion has been refunded to companies so far, under an order from the U.S. Court of International Trade.
Critical quote: "We've borrowed an astounding $1.8 trillion this fiscal year, with $431 billion in the month of July alone, and equating to nearly $6 billion per day," said Maya MacGuineas, president of the Committee for a Responsible Federal Budget. "We're on track to surpass $2 trillion in borrowing this fiscal year despite not being in a recession. That is not normal."
Background: The University of Pennsylvania recently estimated that under current policy, it will likely be mathematically impossible for the U.S. to pay off its debt by the year 2048.
That was before Trump asked Congress to increase discretionary spending by 19% next year, which would be the second-largest spending increase in at least 60 years.
Summary: America's affordability crisis is the most prominent political issue in the country, yet neither party has committed to reducing government deficits. Until then, the crisis is likely to only worsen.
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Wars are expensive. The current deficit belongs to the Trump Administration. Buck stops here and all that.
NJ towns ‘wasted’ $2.3M of opioid settlement on lavish purchases: ‘people are dying because of this’
I heard there is a way for the US deficit to go away through financial technical machinations, but I don’t remember how they did it.
The GOP Congress still refuse to pass a budget. Even though Constitution requires it.
It’s all Obamunism CRs for spending. Emergency emergency!!!- pass this stop gap “spending bill” to continue!
The deficit - the gap between what the government spends and what it collects from taxes and other revenue - has never surpassed $1.8 trillion, except during the Covid-19 pandemic.
It looks like the Federal debt went up over $2T more than once.
https://fiscaldata.treasury.gov/datasets/historical-debt-outstanding/historical-debt-outstanding
HISTORICAL DEBT:
9/30/2025 $37,637,553,494,935.61
9/30/2024 $35,464,673,929,171.69
9/30/2023 $33,167,334,044,723.16
9/30/2022 $30,928,911,613,306.73
9/30/2021 $28,428,918,570,048.68
9/30/2020 $26,945,391,194,615.15
9/30/2019 $22,719,401,753,433.78
No one had the guts to cut spending after Covid back to 2019 levels? Malice?
This things are going to get more expensive. Treasury must raise rates to sell bonds to cover. Interest is 20% of federal revenues now.
Dont worry about Socialism in the US. There is no money for any of it.
Over one Trillion of that spending is merely interest payments on the existing debt! We need a Balanced Budget Amendment. The only thing we will get until then is excuses and finger pointing.
Nonsense. Trump spends like a drunken sailor, and has never shown any interest in trying to seriously cut spending. Another in a long line of disappointments by the Trump administration.
Those numbers include “interest on the existing outstanding debt” (in addition to the annual deficit), so we are on track for an “excess of 1.8 Trillion” year count of 3...the article’s statement of “...has never surpassed $1.8 trillion, except during the Covid-19 pandemic” is a bit disingenuous as 1 of the “COVID years” surpassed $3.10 Trillion and a 2nd COVID year surpassed $2.75 Trillion:
https://fiscaldata.treasury.gov/americas-finance-guide/national-deficit/#us-deficit-by-year
In hindsight you appear to have the facts in hand, I have made disparaging posts against you in the past that were unfounded emotional reactions; for that I sincerely apologize.
FRegards
Technically debt is added by the Congress. The president could hold them accountable, but the last time a budget was vetoed, it was to make us spend more, not less.
“Wars are expensive. The current deficit belongs to the Trump Administration. Buck stops here and all that.”
It’s not the wars. It’s the STUPID spending: NGO’s, pet projects, grants, payouts to other nations, ect. Then, on top of that add in lack of Revenue because the Tariffs were blocked by the SCOTUS (which has unbalanced the Budget).
> Trump spends like a drunken sailor… <
As I’m sure you know, Congress sets the budget. But the president has the veto pen. Trump has yet to veto a single spending bill. So, yeah. That makes him complicit in the reckless spending.
As you noted, it is a disappointment.
Now that the Navy is running out of operations money and the Army and AF are actually running out of air defense weapons in Europe, those previous deficits will look like speed bumps in comparison.
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