"The federal fiscal year will end on September 30, with the OMB projecting a deficit of $2.17 trillion for FY2027. This means that for every month of the current fiscal year, the government will have issued more than $166 billion in debt. From October, that average will increase to approximately $181 billion a month."
The U.S. Treasury is projected to borrow over $2 trillion by the end of the fiscal year, according to the latest estimates. This is described as 'beyond scary' by budget hawks. The government is expected to run deficits of $2.06 trillion and $2.17 trillion for FY2026 and FY2027 respectively. Interest payments on the debt now rival combined spending on education and defense, with $530 billion paid in interest between October 2025 and March 2026.
Read at Fortune
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