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US Budget Deficit Hits $1.99 Trillion In FY26, Highest Since 2021 As Debt Interest Costs Surge
The US federal budget deficit widened to $1.99 trillion in fiscal year 2026, its highest level since 2021, as rising borrowing costs and government expenditure outpaced revenue growth. According to a report by Bloomberg, Treasury Department data showed the shortfall increased 12% from $1.78 trillion in FY2025. The deterioration comes despite President Donald Trump's commitments to reduce federal…
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