By Ethan Faverino |
Earlier this week, the Joint Economic Committee released its Monthly Fiscal Update, revealing that the federal government recorded a deficit of $164.10 billion in March 2026.
For the first half of FY26, cumulative deficits reached $1.169 trillion, meaning 32.01% of outlays were unfunded by revenues, with the government spending $1.47 for every dollar received in revenue.
The year-to-date deficit for FY26 is 10.60% lower than the $1.307 trillion recorded in the same period of FY25. Full-year deficits in FY25 totaled $1.776 trillion.
According to the most recent 10-year budget projections from the Congressional Budget Office (CBO), federal deficits are expected to total $1.853 trillion in FY26, $1.887 trillion in FY27, and $2.080 trillion in FY28.
In March, total federal net outlays amounted to $548.96 billion. Cumulative net outlays from the start of the fiscal year through March stood at $3.651 trillion.
This represents a 2.35% increase compared to the $3.567 trillion in net outlays for the same period in FY25. Full-year net outlays in FY2025 totaled $7.010 trillion. The CBO projects net outlays will reach $7.772 trillion in FY27 and $8.151 trillion in FY28.
Total federal net receipts in March were $384.86 billion, bringing year-to-date net receipts to $2.483 trillion. This marks a 9.84% increase from the $2.260 trillion in net receipts recorded in the comparable period of FY25. Full-year net receipts in FY25 were $5.235 trillion. The CBO forecasts net receipts of $5.596 trillion in FY2026, $5.885 trillion in FY27, and $6.071 trillion in FY28.
Key figures for March 2026 show net outlays of $548.96 billion, net receipts of $384.86 billion, and a deficit of $164.10 billion. For FY26 year-to-date through March, net outlays totaled $3.651 trillion, net receipts totaled $2.483 trillion, making the deficit $1.169 trillion.
Ethan Faverino is a reporter for AZ Free News. You can send him news tips using this link.
