12-Month Rolling Deficit is $1.7 Trillion in April 2026

The federal government borrowed $1.7 trillion over the past year – May 2025 to April 2026 – based on estimates from the Congressional Budget Office (CBO). 

Due to revenue collection from tax filing, CBO estimates a budget surplus of $213 billion in April 2026 – down from a surplus of $258 billion in April 2025. Revenue in April totaled $837 billion,  compared to $850 billion in April 2025. Spending totaled $623 billion, compared to $592 billion in April 2025.

Over the past 12 months, total revenue was $5.4 trillion while spending totaled $7.1 trillion.  We estimate the $1.7 trillion rolling deficit is about 5.4% of Gross Domestic Product.