The Congressional Budget Office (CBO) estimates that US government borrowing for the first nine months of 2026 has reached $1.4 trillion.
In a new report, CBO he says the figure is $35 billion more than the deficit recorded at the same time last year.
The fiscal year of the US government runs from October 1 to September 30 of the following year.
Data from the CBO shows that from October 2025 to June 2026, the US government had already spent $5.5 trillion, representing a jump of $178 billion from the same period last year.
Spending on eligible programs such as Social Security, Medicare and Medicaid is a large part of the budget, amounting to $2.551 trillion for the first nine months of the fiscal year. This figure represents an increase of $169 billion compared to the same period last year. The US government also released $857 billion to pay interest on its national debt, and allocated $677 billion to national security.
He says Maya MacGuineas, President of the State Budget Committee,
“We will borrow $2 trillion or more this fiscal year — a staggering number because the economy is still growing and unemployment is low. This is probably the tip of the iceberg; borrowing will rise even further if policymakers fail to control it, implement other unfunded tax cuts or spending increases, and perhaps ignore the need to cut spending and increase Social Security spending over the next seven years of Medicare. Action is needed to prevent both programs from being disrupted.”
Data from the Treasury Department shows that the US government debt is over $39.414 trillion.
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