US posts $1.99 trillion fiscal 2026 deficit, largest in 5 years; interest payments top defense spending

The US posted a $1.99 trillion fiscal 2026 budget deficit, the largest in five years, at about 6.2% of GDP, up from $1.775 trillion in fiscal 2025. Spending hit a record $7.4 trillion, up 6%, while revenue grew just 3% to a record $5.4 trillion. It netted $173 billion in tariffs, down $22 billion, after $145 billion in refunds. Gross interest on debt hit a record $1.36 trillion, up 12%, now exceeding defense spending.

Detected & updated continuously · Source: Nebula