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US budget deficit nears 2T in 2026
The United States concluded the fiscal year 2026 with a budget deficit of approximately two trillion dollars, marking the third-largest annual deficit in the nation's history, representing a 12% increase over the previous fiscal year. The U.S. Department of the Treasury indicated that the deficit reached $1.992 trillion, driven by record-high revenues and expenditures. This situation is attributed to increased demand for government spending and a decline in tax rates. The U.S. has now experienced a fiscal deficit for the twenty-fifth consecutive year, with the last budget surplus occurring in 2001.
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