Economy

U.S. budget deficit swells to almost $2 trillion for fiscal 2026

CNBC · 4 hours ago · Read the Full Story on CNBC

AI SUMMARY

The U.S. Treasury Department reported that the national budget deficit for the 2026 fiscal year rose 12% to $1.992 trillion, marking the third-highest annual deficit in U.S. history.

The U.S. 2026 fiscal year budget deficit reached $1.992 trillion, representing a 12% increase from the previous year's $1.775 trillion.
This marks the third-highest annual deficit in U.S. history, following 2020 and 2021.
The U.S. has officially recorded its 25th consecutive fiscal year operating at a deficit, with the last surplus occurring in 2001.
Social Security was the largest government spending category at nearly $1.7 trillion, followed by Medicare at almost $1.1 trillion.
Net interest topped $1 trillion for the fiscal year, while total interest paid on the national public debt exceeded $1.3 trillion.
Individual income taxes brought in over $2.8 trillion, while corporate income tax receipts fell to $381 billion due to recent tax cuts.
The total national public debt exceeded $40 trillion earlier in the year, having more than doubled over the past decade.
September's monthly deficit was recorded at $27 billion, reversing a $198 billion surplus from the same month the previous year.

Read the Full Story on CNBC

Ethiopia’s African Stock Market Ambitions Face Regulatory Hurdles

BirrMetrics · 9 hours ago

Ethiopia Loses East Africa's Largest Economy Spot to Kenya

Wazema · 9 hours ago

How did Ethiopia Settle a $1.2B Railway Dispute for $213 Million?

BBC · 14 hours ago

Ethiopia Joins Pan-African Payment System to Boost Regional Trade

2Merkato.com · 14 hours ago