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US Records $404 Billion Deficit in First Month of Fiscal Year

Bloomberg Markets Thursday 12 November 2026, 19:44 UTC By Yash Roy 1 min read
Key Points

US Records $404 Billion Deficit in First Month of Fiscal Year The US budget gap widened to $404 billion in October, up 42% from the same period a year earlier, Treasury Department data showed Thursday. In the first month of the fiscal year, which began Oct. 1, government spending rose 12%, to $773 billion, and tax receipts fell 9%, to $369 billion.

US Records $404 Billion Deficit in First Month of Fiscal Year The US budget gap widened to $404 billion in October, up 42% from the same period a year earlier, Treasury Department data showed Thursday. In the first month of the fiscal year, which began Oct. 1, government spending rose 12%, to $773 billion, and tax receipts fell 9%, to $369 billion. Tariff revenue fell roughly 39% from the same month in 2026, to $19.2 billion.
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