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Red ink: Federal deficit hits nearly $2 trillion

NPR | By Scott Horsley

Published October 16, 2026 at 1:41 PM PDT

The federal deficit for the fiscal year that just ended was nearly $2 trillion. That's the biggest budget gap since 2021, when the country was still recovering from the pandemic.

Scott Horsley

Scott Horsley is NPR's Chief Economics Correspondent.

See stories by Scott Horsley