The budget deficit swells, while the cost of debt rises
Data: Office of Management and Budget via Fred, U.S. Treasury; Note: 2026 GDP estimated using extrapolated Q3 growth via CFRB; Chart: Emily Peck/AxiosThe U.S. budget deficit is ballooning, reaching $2 trillion this fiscal year, according to the latest figures.Why it matters: That's the largest defic
<p>Data: Office of Management and Budget via Fred, U.S. Treasury; Note: 2026 GDP estimated using extrapolated Q3 growth via CFRB; Chart: Emily Peck/AxiosThe U.S. budget deficit is ballooning, reaching $2 trillion this fiscal year, according to the latest figures.Why it matters: That's the largest defic</p>