Our fiscal situation is a disaster. We’re basically borrowing $100 billion a week now. Annualized this is $5.2 trillion.

Don’t worry the blue wave is going to save us all!

US opens fiscal 2027 with a record October deficit

The Treasury reported a $404 billion deficit for October, up $120 billion, or 42%, from October 2025. Spending reached $773 billion, while revenue fell 9% to $369 billion. Interest on federal debt alone cost $115 billion.

However, adjusting for payments shifted between months reduces the October deficit to approximately $285 billion. Even adjusted, that’s a very large monthly shortfall.

https://www.reuters.com/business/us-starts-2027-fiscal-year-with-record-october-budget-deficit-404-billion-2026-11-12/

CBO reports a $2 trillion deficit for fiscal 2026

The federal government finished fiscal 2026 with a $2 trillion deficit, up 12% from the previous year. The deficit equaled 6.2% of GDP, compared with a 50-year average of 3.8%.

Federal debt held by the public reached 100% of GDP, the highest level since 1946.

https://www.cbo.gov/publication/61986
Interest payments reach approximately $1.1 trillion

Net interest on debt held by the public climbed to roughly $1.1 trillion in fiscal 2026. It has nearly tripled since fiscal 2021, when it was about $392 billion.

That money pays creditors rather than funding government services or reducing the debt.

Treasury plans another $618 billion in borrowing this quarter

Treasury expects to borrow $618 billion in privately held net marketable debt during October–December 2026, followed by another $800 billion in January–March 2027.

https://home.treasury.gov/news/press-releases/sb0675

Treasury’s weekly auction total hits a record $839 billion

This is where some of the $100 billion weekly borrowing claims get confusing. The $839 billion represented gross Treasury securities sold in one week, including refinancing maturing debt. Only $68 billion was new borrowing.

Gross issuance and net new borrowing are very different numbers.

https://finance.yahoo.com/economy/policy/articles/us-treasury-borrows-record-839-201757901.html

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