The federal budget deficit totaled $1.0 trillion in the first five months of fiscal year 2026, CBO estimates. That amount is $142 billion less than the deficit recorded during the same period last fiscal year.
The federal budget deficit totaled $1.0 trillion in the first five months of fiscal year 2026, the Congressional Budget Office estimates. That amount is $142 billion less than the deficit recorded during the same period last fiscal year. Revenues rose by $206 billion (or 11 percent), and outlays were $64 billion (or 2 percent) higher.
Outlays in the first five months of each year were boosted by shifts of certain payments that otherwise would have been due on March 1, which fell on a weekend both years. If not for those shifts, the deficit thus far would have been $919 billion, $144 billion less than the shortfall for the same period in fiscal year 2025.
