US federal budget deficit $696 bn in Oct 2025-Jan 2026: CBO

This was $143 billion less than the deficit recorded during the same period in the last fiscal.

Revenues rose by $189 billion, or 12 per cent, and outlays were $45 billion, or 2 per cent, higher during the four months.

The US federal budget deficit was $696 billion in the first four months of fiscal 2025-26, which began in October last year, the Congressional Budget Office estimates.
This was $143 billion less than the deficit recorded during the same period in the last fiscal.
Revenues rose by $189 billion, or 12 per cent, and outlays were $45 billion, or 2 per cent, higher during the four months.

Customs duties, including tariff revenues, collected in these four months were more than four times the amount recorded in the first four months of last fiscal—an increase of $90 billion.

Receipts from corporate income taxes decreased by $22 billion, or 16 per cent, YoY during the period, a CBO release says.

The federal government incurred a deficit of $94 billion in January this year, CBO estimates. This was $35 billion less than the deficit recorded in January 2025. Revenues were $47 billion more in January 2026 than they were in January 2025; outlays increased by $12 billion.

Total spending in January 2026 was $654 billion, $12 billion more than in January 2025.

Fibre2Fashion News Desk (DS)