U.S. budget deficit down 52% in August
The US budget deficit shrank by 52% in August to $167 billion, driven by lower spending, interest payments, and the timing of certain government benefit payments. Over the first 11 months of fiscal year 2026, the cumulative deficit reached $1.97 trillion, surpassing the fiscal year 2025 deficit of $1.775 trillion. Additionally, government revenues increased by 5%, while August spending decreased by 24%, and interest payments rose by 13% compared to the previous year.
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