U.S. deficit nears $2 trillion as government spending keeps climbing

The US federal budget deficit for 2026 officially came in Friday at $1.992 trillion, a final tabulation to close out the government's fiscal year and another reminder of Washington's spiraling reliance on red ink.This deficit number represents about 6% of the US gross domestic product and was a result of $5.403 trillion in total revenues for the fiscal year against total spending of $7.396 trillion.The 2026 reading is a 12% jump from 2025's $1.775 trillion deficit.These final numbers came in the