US runs $404 billion deficit in first month of fiscal 2027
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Thursday, November 12, 2026
- Updated Nov 12, 2026 15:06
The United States recorded a budget deficit of $404.1 billion in October 2026, the first month of fiscal 2027, as outlays of $773.0 billion ran well ahead of receipts of $368.9 billion, the Monthly Treasury Statement shows.
Why it matters: The opening month deficit was about 42 percent wider than October a year earlier, when the gap was $284.3 billion, setting the borrowing pace the Treasury must fund in the new fiscal year.
Data as of US Treasury Fiscal Data, Monthly Treasury Statement Table 1, record date October 31, 2026, read directly from the Fiscal Data API in this run: fiscal 2027 October receipts $368,940,118,602.77, outlays $773,003,666,480.36, deficit $404,063,547,877.59; the October 2025 comparison is the same table's fiscal 2026 section. Developing item.
The United States opened fiscal 2027 with a budget deficit of $404.1 billion in October, the Monthly Treasury Statement shows. Receipts were $368.9 billion against outlays of $773.0 billion in the month.
The gap was about 42 percent wider than in October 2025, the first month of fiscal 2026, when the deficit was $284.3 billion on receipts of $404.4 billion and outlays of $688.7 billion. Receipts fell year on year while spending rose, so the new fiscal year starts with a heavier borrowing requirement than the last one did.
Sources
- Monthly Treasury Statement, Table 1, fiscal 2027 summary of receipts, outlays and the deficit by month, record date October 31, 2026 - US Treasury, Fiscal Data - 2026-11-12
- US Records $404 Billion Deficit in First Month of Fiscal Year - Bloomberg - 2026-11-12