U.S. Budget Deficit Hits $2 Trillion — SkimNews
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- U.S. budget deficit reached $2 trillion this fiscal year, per Office of Management and Budget figures obtained via FRED.
- U.S. Treasury data cited in the piece pairs the deficit with rising federal debt-service costs highlighted in the headline.
- The accompanying chart, credited to Emily Peck of Axios, extrapolates 2026 GDP using Q3 growth figures via CFRB to contextualize the trajectory.
Why it matters: A $2 trillion deficit means federal spending now runs roughly $2T above revenue in a single fiscal year, while the headline flags that interest costs on existing federal debt are rising in parallel.
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