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US Budget Deficit Hits $1.99 Trillion | Markets & Money News
The U.S. budget deficit for fiscal 2026 has reached $1.99 trillion, marking a significant $217 billion increase from the previous year and the largest deficit in five years. While total revenue hit a record $5.4 trillion, spending also surged to $7.4 trillion. Much of the deficit stems from servicing over $40 trillion in national debt, with debt-service costs reaching a historic $1.36 trillion. Additionally, a decline in tariff receipts due to a Supreme Court ruling has further strained
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