In August, the federal government ran a deficit of $166.797 billion. From the beginning of the fiscal year to August, deficits were $1.966 trillion.
This means 28.86 percent of outlays in FY2026 were not paid for by revenues, and for every dollar the federal government received in revenue, it spent $1.41.
In the comparable fiscal year to date in FY2025, total federal deficits were $1.973 trillion, which means the total deficit in the current fiscal year to date period is 0.39 percent lower 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 August, total federal net outlays were $526.830 billion. From the beginning of the fiscal year to August, net outlays were $6.811 trillion.
In the comparable fiscal year to date in FY2025, total federal net outlays were $6.664 trillion, which means the net outlays total in the current fiscal year to date period is 2.20 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 | Aug 2026 | FY2026 to date | FY2025 to date | FY2025 | Last 12 months |
|---|---|---|---|---|---|
| Social Security |
$141.43B (26.8%) |
$1,525.87B (22.4%) |
$1,447.32B (21.7%) |
$1,580.69B (22.5%) |
$1,659.23B (23.2%) |
| Net Interest |
$85.61B (16.3%) |
$1,016.97B (14.9%) |
$933.76B (14.0%) |
$970.66B (13.8%) |
$1,053.87B (14.7%) |
| Income Security and Veterans Benefits |
$72.56B (13.8%) |
$1,040.87B (15.3%) |
$1,027.77B (15.4%) |
$1,078.74B (15.4%) |
$1,091.85B (15.3%) |
| Defense |
$67.92B (12.9%) |
$832.63B (12.2%) |
$796.96B (12.0%) |
$868.41B (12.4%) |
$904.08B (12.6%) |
| Medicaid |
$56.79B (10.8%) |
$654.99B (9.6%) |
$607.77B (9.1%) |
$668.14B (9.5%) |
$715.37B (10.0%) |
| Medicare |
$24.78B (4.7%) |
$979.30B (14.4%) |
$964.76B (14.5%) |
$996.72B (14.2%) |
$1,011.26B (14.1%) |
| Foreign Aid |
$5.23B (1.0%) |
$32.23B (0.5%) |
$33.36B (0.5%) |
$32.21B (0.5%) |
$31.08B (0.4%) |
| All other outlays |
$72.51B (13.8%) |
$728.09B (10.7%) |
$852.90B (12.8%) |
$814.75B (11.6%) |
$689.94B (9.6%) |
In August, total federal net receipts were $360.033 billion. From the beginning of the fiscal year to August, net receipts were $4.845 trillion.
In the comparable fiscal year to date in FY2025, total federal net receipts were $4.691 trillion, which means the net receipts total in the current fiscal year to date period is 3.29 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 | Aug 2026 | FY2026 to date | FY2025 to date | FY2025 | Last 12 months |
|---|---|---|---|---|---|
| Individual Income Taxes |
$179.04B (49.7%) |
$2,548.00B (52.6%) |
$2,357.63B (50.3%) |
$2,656.04B (50.7%) |
$2,846.41B (52.8%) |
| Social Insurance and Retirement Taxes |
$140.53B (39.0%) |
$1,663.28B (34.3%) |
$1,614.36B (34.4%) |
$1,748.29B (33.4%) |
$1,797.22B (33.3%) |
| Customs Duties |
$12.84B (3.6%) |
$167.31B (3.5%) |
$165.19B (3.5%) |
$194.87B (3.7%) |
$196.98B (3.7%) |
| Corporation Income Taxes |
$1.95B (0.5%) |
$294.86B (6.1%) |
$389.61B (8.3%) |
$452.09B (8.6%) |
$357.33B (6.6%) |
| All other receipts |
$25.67B (7.1%) |
$171.89B (3.5%) |
$164.15B (3.5%) |
$183.31B (3.5%) |
$191.05B (3.5%) |
| Date | Time | Release | Data source |
|---|---|---|---|
| Sep 18 | 10:00 AM | State Employment and Unemployment, August 2026 | Bureau of Labor Statistics |
| Sep 30 | 08:30 AM | Monthly Expenditures Update, August 2026 | Bureau of Economic Analysis |
| Sep 30 | 08:30 AM | Monthly GDP Update, Q2 2026 Third Estimate | Bureau of Economic Analysis |
| Oct 02 | 08:30 AM | Monthly Employment Update, September 2026 | Bureau of Labor Statistics |
| Oct 06 | 08:30 AM | Monthly Trade Update, August 2026 | Bureau of Economic Analysis |
| Oct 07 | 10:00 AM | Monthly Debt Update, October 2026 | U.S. Treasury |
| Oct 14 | 08:30 AM | Monthly Inflation Update, September 2026 | Bureau of Labor Statistics |
| Oct 14 | 10:00 AM | Monthly Fiscal Update, September 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.