Tag: National Debt
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Difference Between Deficit and Debt: Why Both Keep Growing
The difference between deficit and debt comes down to time. The deficit is one year’s gap between spending and revenue, $1.99 trillion in fiscal 2026. The debt is the running total of that borrowing, now above $40 trillion. Here’s how a deficit becomes debt, why the debt rose even in a surplus year, and what…
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Controller’s Desk: The Federal Deficit Hit $409 Billion in October
CBO estimates the federal deficit hit $409 billion in October 2026, the first month of fiscal 2027 and $125 billion more than a year earlier. Tariff refunds and front-loaded business write-offs dented revenue, but spending on autopilot programs and interest is doing the heavy lifting. Here is what the numbers mean for families and what…
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Who Owns the National Debt? Mostly Americans, Not China
Who owns the national debt? Mostly Americans. Foreign investors held about 24% of the $39.1 trillion debt in March 2026, and China held about 1.5%. Federal trust funds like Social Security held 20%, the Fed 11%, and U.S. funds, banks, pensions and savers the rest. Every one of those holders still expects taxpayers to pay…
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Where Your Tax Dollars Go: Washington Borrowed 27 Cents of Every Dollar
Washington spent $7.40 trillion in fiscal 2026 and collected $5.40 trillion, so 27 cents of every federal dollar was borrowed. Treasury’s final numbers show Social Security, Medicare, health, interest and defense took 78 cents. Here is where your tax dollars go, and why the deficit debate keeps missing the point.
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Treasury ‘Cut’ Borrowing to $618 Billion. Read the Fine Print.
Treasury’s $618 billion Q4 borrowing estimate is $10 billion below August — mainly because of a higher starting cash balance. Excluding that cash, the need is $24 billion higher. January–March jumps to $800 billion. Read the fine print.
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Interest on the National Debt Just Beat Defense Spending
Washington spent $1.052 trillion on interest in fiscal 2026, more than it spent on national defense. Revenue rose 3% while spending rose 6%. This is a spending problem, and it has a fix.
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