US DEFICIT WIDENS TO $1.99 TRILLION IN FY2026

The US government closed fiscal year 2026 with a $1.99 trillion budget deficit, up 12% from the $1.78 trillion gap in FY2025. Spending climbed 6% to $7.4 trillion, while net interest costs alone jumped 11%, adding $115 billion as higher debt and rates outran revenue growth of just 3%. Treasury yields ($TLT) remain the pressure valve financing that gap.