U.S. deficit hit $1.992 trillion in fiscal 2026, largest in five years

The U.S. ran a $1.992 trillion budget deficit in fiscal 2026 on $7.396 trillion in spending, Yahoo Finance reported. Reuters said the gap rose $217 billion from the prior year, the largest in five years. That means Washington borrowed roughly $1 for every $4 it spent — a tab ultimately paid through taxes, higher rates, or inflation.