US deficit reaches $1.8 trillion in first 10 months of fiscal 2026

The US federal budget deficit has reached $1.8 trillion in the first 10 months of fiscal 2026, a significant increase from previous years. This surge is largely due to higher government spending and lower revenues from tariffs. The large deficit is a concern for the economy as it can lead to increased borrowing and higher interest rates, potentially impacting economic growth and inflation.

Read the source report: Economic Times