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US Treasury to Borrow Over $2 Trillion, Deficits Surge

5/7/2026

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Summary

Story summary

The U.S. Treasury is projected to borrow more than $2 trillion by the end of FY2026.
The Office of Management and Budget expects a $2.06 trillion deficit for FY2026 and $2.17 trillion for FY2027.
Monthly debt issuance exceeds $166 billion in FY2026 and is projected to average $181 billion after October.
Maya MacGuineas called the $2 trillion deficits “beyond scary,” warning that fiscal risk is rising.

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Story summary

The U.S. Treasury is projected to borrow more than $2 trillion by the end of FY2026.
The Office of Management and Budget expects a $2.06 trillion deficit for FY2026 and $2.17 trillion for FY2027.
Monthly debt issuance exceeds $166 billion in FY2026 and is projected to average $181 billion after October.
Maya MacGuineas called the $2 trillion deficits “beyond scary,” warning that fiscal risk is rising.