economy

March 11, 2026

U.S. deficit tops $1 trillion through February but runs below year-ago pace

For the fiscal year to date, the deficit totaled $1.004 trillion, about 12% lower than the comparable period in 2025.

U.S. deficit tops $1 trillion through February but runs below year-ago pace

TL;DR

  • The U.S. budget deficit reached over $1 trillion for the fiscal year ending in February.
  • The deficit is 12% lower than the comparable period in the previous year.
  • Government revenues have risen faster than spending.
  • Tariff collections saw a substantial increase of 294% year-over-year.
  • Tariff revenues have surpassed corporate tax receipts for the fiscal year to date.
  • Net interest payments on the national debt are a significant expenditure, ranking high among federal outlays.
  • Supreme Court decisions on tariffs and future tariff impositions may affect future data.
  • Corporate tax revenue has declined by 17% compared to the previous year.

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