Federal budget deficit reached $1 trillion in five months through February 2026 as tax revenue jumped $206 billion due to higher income tax and tariff collections, CBO data shows.

The Congressional Budget Office expects the U.S. federal deficit to rise more over the coming years than previously expected, a release by the agency showed Wednesday.

(Bloomberg) -- The US budget deficit shrank to $1.67 trillion for the 2025 calendar year, the smallest in three years, thanks mainly to a record surge in customs revenue. The deficit for the month of ...

All but unnoticed last month, a bipartisan group of legislators introduced a resolution calling for Congress to keep budget deficits at no more than 3% of gross domestic product. Though not enough by ...