A fiscal deficit occurs when a government's spending exceeds its income within a specific period, typically a fiscal year. This means the government is spending more money than it is earning.

The federal government brought in $334 billion in the month of July, with most of that coming directly out of workers’ paychecks. That same federal government spent $766 billion in July, with most of ...

Eliminating Social Security's deficit would cut the federal government's primary deficit in half. It would also make Americans happy. Recently, the Congressional Budget Office released its budget ...

The federal government's annual budget deficit reached $2 trillion after the first 11 months of fiscal year 2026, the nonpartisan Congressional Budget Office (CBO) reported. The CBO's monthly budget ...