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US Budget Deficit Reaches Nearly $2 Trillion | Markets & Money News
The US federal budget deficit has increased to $1.99 trillion for fiscal 2026, a 12% rise from the previous year. Government spending has also surged to approximately $7.4 trillion, while receipts have only slightly increased by 3% to $5.4 trillion, highlighting a concerning fiscal imbalance. Treasury Secretary Scott Bessent pointed to tariff refunds following a Supreme Court ruling as a contributing factor to the deficit. This ongoing trend, now four years running, represents about 6% of GDP
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