(The Center Square) – The federal government is projected to post a $2 trillion deficit in fiscal year 2026, double the 3% of GDP target that has bipartisan support in Congress, according to Treasury's quarterly refunding documents.
The $2 trillion figure in fiscal year 2026 is up from $1.7 trillion last year. The Office of Management and Budget projects a deficit of $2.065 trillion, primary dealers surveyed by Treasury projected a median of $1.950 trillion and the Congressional Budget Office's February 2026 baseline projected $1.853 trillion.
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