US federal budget deficit hit a record $432 billion in July, taking the fiscal 2026 shortfall to $1.799 trillion in the first 10 months. Higher government spending and weaker tariff revenues have intensified pressure on the US fiscal position, with two months remaining in the fiscal year.
US federal budget deficit hit a record $432 billion in July, taking the fiscal 2026 shortfall to $1.799 trillion in the first 10 months. Higher government spending and weaker tariff revenues have intensified pressure on the US fiscal position, with two months remaining in the fiscal year.
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