Back to today’s briefing

Story perspectives

Projected $1.853 Trillion Deficit Could Soar Amid Iran Conflict

3/12/2026

47 6 Full Breakdown

Summary

Story summary

The Congressional Budget Office projects a FY 2026 deficit of $1.853 billion from a revenue shortfall.
If Iran's conflict lasts 60 days, the deficit could rise by $66.4 billion, lifting GDP share from 5.8% to 6.0%.
The Supreme Court's decision to eliminate tariffs from U.S. President Donald Trump's administration could cost $74 billion in revenue.
War costs could total $65 billion if it lasts two months, about $1 billion daily.

1 of 1

Story summary

The Congressional Budget Office projects a FY 2026 deficit of $1.853 billion from a revenue shortfall.
If Iran's conflict lasts 60 days, the deficit could rise by $66.4 billion, lifting GDP share from 5.8% to 6.0%.
The Supreme Court's decision to eliminate tariffs from U.S. President Donald Trump's administration could cost $74 billion in revenue.
War costs could total $65 billion if it lasts two months, about $1 billion daily.