Federal budget deficit reached $1 trillion in five months through February 2026 as tax revenue jumped $206 billion due to higher income tax and tariff collections, CBO data shows.

A budget watchdog has sounded the alarm, warning that this would not be sustainable.

In its early days, the Elon Musk-led Department of Government Efficiency (DOGE) bragged it could cut up to $2 trillion from ...

In a new projection from the nonpartisan Congressional Budget Office, the federal budget deficit - the gap between government revenue vs. spending - will be $1.9 trillion for the 2024 fiscal year. The ...

The United States borrowed $1.0 trillion in the first five months of Fiscal Year (FY) 2026, including $308 billion in February, according to the latest ...

The Congressional Budget Office projects the federal deficit will grow from $1.8 trillion in 2025 to $3.1 trillion by 2036. Federal spending is currently well above its 50-year average, while revenue ...

The federal government borrowed $1.6 trillion over the past year – March 2025 to February 2026 – based on estimates from the ...

Debt held by the public will balloon to more than $56 trillion by 2036 as annual deficits continue to mount, according to the latest projections from the Congressional Budget Office. By later this ...

The House failed to pass a measure that would propose amending the Constitution to require the federal government to have a balanced budget, a measure offered by conservatives to address the ...

In 2023, when he was campaigning to win back the White House, President Donald Trump said he would reduce the federal budget. "Instead of growing the size and scope of the federal government … we will ...

If you look closely, you can see some progress on cutting federal spending. At least that’s the conclusion of the respected Kim Strassel, writing recently in the Wall Street Journal before the ...