United States fiscal year 2026 ends with $1.99 trillion deficit

The United States concluded fiscal year 2026 with a budget deficit of $1.99 trillion. Total federal spending reached $7.4 trillion against $5.4 trillion in receipts. Public debt held by the public rose to $32.43 trillion, an increase of $2.15 trillion over the previous year, representing a debt-to-GDP ratio of 99 percent.

Congress has implemented a continuing resolution to fund government operations through December 11. Following the November midterm elections, lawmakers will have five weeks to negotiate a top-line spending agreement for fiscal year 2027.

In the science and health sectors, concerns remain regarding the Office of Management and Budget’s potential implementation of uniform guidance on federal financial assistance. While Congress has delayed implementation via the continuing resolution, agencies such as the National Science Foundation and the Department of Education have proactively moved to adopt certain elements of these provisions.