CBO Estimates $439 Billion Deficit for First Two Months of FY 2026

The United States borrowed $439 billion in the first two months of Fiscal Year (FY) 2026 according to the latest Monthly Budget Review from the Congressional Budget Office.

The following is a statement from Maya MacGuineas, president of the Committee for a Responsible Federal Budget: 

Just two months into the fiscal year and we have already borrowed a staggering $439 billion. That’s $7 billion per day, and we’re headed towards the deficit nearing $2 trillion for the fiscal year. This is simply unsustainable.  

These monthly borrowing estimates highlight the urgency of needing to address our troubling fiscal situation. In just a few years, the national debt will exceed its record as a share of the economy, set just after World War II. We are already spending nearly $1 trillion per year on interest on the debt alone. And our nation’s trust funds for Medicare and Social Security are careening towards insolvency in just seven years, at which point benefits will be cut across the board regardless of age or need.

Policymakers should work together on an attainable fiscal goal that will put us on a path to long-term economic stability.  A goal like reducing deficits to 3% of GDP could stabilize the national debt and put our fiscal outlook on a more sustainable track.  

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For more information, please contact Matt Klucher, Assistant Director for Media Relations, at klucher@crfb.org.