United States reports record $432 billion monthly deficit

The United States Treasury reported a record monthly deficit of $432 billion for July, bringing the total deficit for fiscal year 2026 to approximately $1.8 trillion with two months remaining. This figure exceeds the entire deficit recorded for fiscal year 2025 and represents the worst monthly deficit since March 2021.

In addition to rising deficits, the Trump administration is reportedly planning to spend at least $900 million on White House construction and renovations using taxpayer funds without Congressional approval. Proposed projects include the restoration of various landmarks in Washington, D.C., and the construction of a 250-foot neoclassical triumphal arch to commemorate the 250th anniversary of the United States.