US federal budget deficit jumps 12% in one year to nearly $2 Trillion

The US federal budget deficit for 2026 increased by 12% compared to the previous year, reaching a total of nearly $2 trillion. The budget deficit is the difference between government spending and revenue, and it has been a concern for economists and policymakers. The budget deficit is considered a key indicator of a country's fiscal health and can impact the overall economy. The increase in the budget deficit is attributed to various factors, including higher government spending and lower tax revenues. The deficit is a significant challenge for the US government as it continues to grapple with rising national debt and the associated interest payments.