U.S. deficit projected to hit $2 trillion in FY2026
Treasury’s quarterly refunding documents forecast a $2 trillion federal deficit for fiscal year 2026 — twice the 3% of GDP target backed by bipartisan lawmakers.
Treasury’s quarterly refunding documents project the federal government will post a $2 trillion deficit in fiscal year 2026. That projected shortfall is double the 3% of GDP fiscal target that has bipartisan support in Congress.