Deficit of $294 Billion in May 2026

 The federal government incurred a deficit of $294 billion in May 2026, CBO estimates— $21 billion less than the deficit recorded for the previous May.  The federal budget deficit totaled $1.2 trillion [actually $1.248 trillion] in the first eight months of fiscal year 2026, the Congressional Budget Office estimates. That amount is $116 billion less than the deficit recorded during the same period last fiscal year [which was $1.364 trillion]. Revenues rose by $174 billion (or 5 percent), and outlays increased by $57 billion (or 1 percent).  Outlays for net interest on the public debt rose by $28 billion (or 32 percent) [to $742 billion FYTD].

The Debt Held By the Public as of 5/29/26 was $31.5 trillion, compared to $30.0 trillion as of 5/30/25, so it increased almost exactly 5% over the last year.