Trillion dollar gap: US budget deficit swells to nearly $2 tn in fiscal 2026

In fiscal 2026, the United States government faced a substantial budget shortfall of $2 trillion, largely attributed to soaring expenditures.

Key factors included rising debt-service costs, increased social benefits, and heightened defense spending.

Meanwhile, a Supreme Court ruling resulted in reduced tariff collections and notable refunds.

This deficit represents 6.