Heard on the Hill
U.S. Treasury: FY 2026 Deficit - American Action Forum
“The U.S. Department of the Treasury has released its final Monthly Treasury Statement for fiscal year (FY) 2026, showing a $2.0 trillion budget deficit for the year.” That’s the opening statement in an analysis of the U.S. federal government's fiscal year 2026 financial operations, presented today by American Action Forum’s Director of Fiscal Policy, Jordan Haring. Citing the 2026 FY deficit as the third-largest in history (in nominal dollars), Ms. Haring provides a thorough analysis of the deficit trend and the individual budget categories, showing their income and expense characteristics.
As the financial “cliffs” for both Social Security and Medicare continue to draw closer, this analysis and future versions will play a key role in understanding the problem's severity. Review Ms. Haring’s report here.
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