Record $404 Billion October Deficit Marks Start of US Fiscal 2027
‘We’re now in the era of $2 trillion deficits,’ said Maya MacGuineas, president of the Committee for a Responsible Federal Budget. The U.S. government opened fiscal year 2027 with a record-setting $404 billion budget deficit in October, according to the Treasury Department. Last month’s fiscal shortfall was $120 billion, or…