U.S. budget deficit swells to almost $2 trillion for fiscal 2026, up 12% in a single year
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The U.S. finished the 2026 fiscal year with a budget deficit of $1.992 trillion, a 12% increase from $1.775 trillion the previous year, marking the third-highest annual deficit in U.S. history and the 25th consecutive deficit year. Social Security spending reached nearly $1.7 trillion, while Medicare cost almost $1.1 trillion, according to the Treasury Department.
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