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U.S. Deficit Hits $2 Trillion | Orlando News
Description
The U.S. budget deficit soared to $2 trillion in the first 11 months of fiscal year 2026, slightly down from last year but masking a 4% real spending increase when accounting for timing shifts. Mandatory programs like Social Security, Medicare, and Medicaid drove much of the growth, while interest payments surged 12% due to ballooning debt and rising rates. Tax receipts rose 3%, fueled by higher individual income taxes but offset by weaker corporate tax collections. Experts warn this unsustainable trend—where we now spend more on interest than defense and carry debt larger than the entire economy—is a ticking time bomb demanding urgent action.
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