US federal deficit reaches nearly $2 trillion in fiscal 2026

The government spent nearly $7.4 trillion and collected more than $5.4 trillion in fiscal 2026.

The gap between spending and revenue was nearly $2 trillion, $218 billion more than the year before.

Interest payments on the national debt rose by $115 billion, the biggest increase among spending categories.

A larger deficit can add to the amount the government borrows and the debt it must pay interest on.