Current Federal Debt and Deficit
Every month, the U.S. Treasury releases data on the federal budget, including the current deficit or surplus. The following contains budget data for October 2025, the first month of fiscal year (FY) 2026.
Current Federal Deficit
$284B
Federal Budget Deficit for October 2026
$257B
Federal Budget Deficit for October 2025
The federal government reported a deficit of $284 billion in the month of October FY 2026, an increase of $27 billion from the $257 billion deficit recorded in October FY 2025. However, November 1 fell on a weekend this year, causing certain payments, mostly Medicare-related, to be shifted into October. That accounting quirk increased the outlays in October. Adjusting for that timing shift, the October FY 2026 deficit would have been $79 billion less than the same month in the previous year.
Spending in October FY 2026 was $105 billion higher than in October last year, though, adjusting for the timing shift, outlays were down $2 billion compared to the same month in FY 2025. The Congressional Budget Office estimates that the government shutdown reduced outlays somewhat in October FY 2026.
Receipts were up by $78 billion in October FY 2026 compared to the previous year: individual income tax receipts increased by $49 billion, and customs duties collections rose by $24 billion, largely due to the increase in tariffs.
National Debt
$30.5T
Debt Held by the Public at the end of October 2026
$28.5T
Debt Held by the Public at the end of October 2025
The deficit for October FY2026 is the largest October deficit in our nation’s history. The debt held by the public is approaching its post-World War II high as a percentage of gross domestic product and is rising rapidly, driven by aging demographics, rising healthcare costs, inadequate revenues, and skyrocketing interest. The good news is there are many solutions available to improve our fiscal outlook and put our nation on a stronger path.