In June, the federal government ran a deficit of $120.305 billion. From the beginning of the fiscal year to June, deficits were $1.367 trillion.
This means 24.76 percent of outlays in FY2026 were not paid for by revenues, and for every dollar the federal government received in revenue, it spent $1.33.
In the comparable fiscal year to date in FY2025, total federal deficits were $1.337 trillion, which means the total deficit in the current fiscal year to date period is 2.18 percent higher than in the same period last fiscal year.
In FY2025, deficits were $1.775 trillion.
The most recent 10-year budget projection from the CBO forecasts that total deficits will be $1.853 trillion in FY2026, $1.887 trillion in FY2027, and $2.080 trillion in FY2028.
In June, total federal net outlays were $616.067 billion. From the beginning of the fiscal year to June, net outlays were $5.518 trillion.
In the comparable fiscal year to date in FY2025, total federal net outlays were $5.346 trillion, which means the net outlays total in the current fiscal year to date period is 3.23 percent higher than in the same period last fiscal year.
In FY2025, net outlays were $7.010 trillion.
The most recent 10-year budget projection from the CBO forecasts that total net outlays will be $7.449 trillion in FY2026, $7.772 trillion in FY2027, and $8.151 trillion in FY2028.
| Outlay category | Jun 2026 | FY2026 to date | FY2025 to date | FY2025 | Last 12 months |
|---|---|---|---|---|---|
| Social Security |
$146.74B (23.8%) |
$1,243.76B (22.5%) |
$1,181.02B (22.1%) |
$1,580.69B (22.5%) |
$1,643.43B (22.9%) |
| Net Interest |
$104.49B (17.0%) |
$827.20B (15.0%) |
$749.05B (14.0%) |
$970.66B (13.8%) |
$1,048.81B (14.6%) |
| Medicare |
$103.47B (16.8%) |
$780.27B (14.1%) |
$723.37B (13.5%) |
$996.72B (14.2%) |
$1,053.62B (14.7%) |
| Income Security and Veterans Benefits |
$79.49B (12.9%) |
$849.03B (15.4%) |
$832.59B (15.6%) |
$1,078.74B (15.4%) |
$1,095.18B (15.2%) |
| Defense |
$78.33B (12.7%) |
$678.66B (12.3%) |
$647.42B (12.1%) |
$868.41B (12.4%) |
$899.66B (12.5%) |
| Medicaid |
$68.20B (11.1%) |
$539.91B (9.8%) |
$491.38B (9.2%) |
$668.14B (9.5%) |
$716.67B (10.0%) |
| Foreign Aid |
-$322.94M (-0.1%) |
$24.45B (0.4%) |
$35.26B (0.7%) |
$32.21B (0.5%) |
$21.39B (0.3%) |
| All other outlays |
$35.68B (5.8%) |
$574.53B (10.4%) |
$685.76B (12.8%) |
$814.75B (11.6%) |
$703.52B (9.8%) |
In June, total federal net receipts were $495.761 billion. From the beginning of the fiscal year to June, net receipts were $4.151 trillion.
In the comparable fiscal year to date in FY2025, total federal net receipts were $4.008 trillion, which means the net receipts total in the current fiscal year to date period is 3.57 percent higher than in the same period last fiscal year.
In FY2025, net receipts were $5.235 trillion.
The most recent 10-year budget projection from the CBO forecasts that total receipts will be $5.596 trillion in FY2026, $5.885 trillion in FY2027, and $6.071 trillion in FY2028.
| Receipt category | Jun 2026 | FY2026 to date | FY2025 to date | FY2025 | Last 12 months |
|---|---|---|---|---|---|
| Individual Income Taxes |
$283.15B (57.1%) |
$2,195.69B (52.9%) |
$2,059.34B (51.4%) |
$2,656.04B (50.7%) |
$2,792.39B (51.9%) |
| Social Insurance and Retirement Taxes |
$155.51B (31.4%) |
$1,383.68B (33.3%) |
$1,349.30B (33.7%) |
$1,748.29B (33.4%) |
$1,782.68B (33.1%) |
| Corporation Income Taxes |
$69.54B (14.0%) |
$279.34B (6.7%) |
$366.27B (9.1%) |
$452.09B (8.6%) |
$365.16B (6.8%) |
| Customs Duties |
-$25.56B (-5.2%) |
$163.02B (3.9%) |
$108.02B (2.7%) |
$194.87B (3.7%) |
$249.87B (4.6%) |
| All other receipts |
$13.12B (2.6%) |
$129.57B (3.1%) |
$125.21B (3.1%) |
$183.31B (3.5%) |
$187.67B (3.5%) |
| Date | Time | Release | Data source |
|---|---|---|---|
| Jul 21 | 10:00 AM | State Employment and Unemployment, June 2026 | Bureau of Labor Statistics |
| Jul 30 | 08:30 AM | Monthly Expenditures Update, June 2026 | Bureau of Economic Analysis |
| Jul 30 | 08:30 AM | Monthly GDP Update, Q2 2026 Advance Estimate | Bureau of Economic Analysis |
| Aug 04 | 08:30 AM | Monthly Trade Update, June 2026 | Bureau of Economic Analysis |
| Aug 07 | 08:30 AM | Monthly Employment Update, July 2026 | Bureau of Labor Statistics |
| Aug 07 | 10:00 AM | Monthly Debt Update, August 2026 | U.S. Treasury |
| Aug 12 | 08:30 AM | Monthly Inflation Update, July 2026 | Bureau of Labor Statistics |
| Aug 13 | 10:00 AM | Monthly Fiscal Update, July 2026 | U.S. Treasury |
Source: U.S. Treasury; JEC Republicans calculations
“pp” = percentage points
Discrepancy in change and share figures is possible due to rounding. Values in parentheses in the tables represent the share of the total value of the column.