CBO Estimates $601 Billion Deficit for First Three Months of FY 2026
The United States borrowed $601 billion in the first three months of Fiscal Year (FY) 2026, including $143 billion in December, 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:
As we ring in the new year, it is the perfect time to tackle our growing economic issues and start 2026 on a positive foot. Just three months into FY 2026 and we have already borrowed a total of $601 billion, with $143 billion of borrowing in December alone. Congress’s new year's resolution should be to reverse this trend and reduce our borrowing.
As another year begins, we are that much closer to the looming insolvency of the Social Security and Medicare trust funds as well – programs that drive spending growth and have been on an unsustainable course for decades. We need trust fund solutions that reduce our borrowing and secure the programs for current and future generations.
The endless routine of kicking the can down the road must be left in 2025, or we risk leaving future generations with irreversible economic damage.
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For more information, please contact Matt Klucher, Assistant Director for Media Relations, at klucher@crfb.org.
