economy30 minutes ago
US October Deficit Hits Record $404 Billion as Tariff Revenue Plummets
The US government recorded a record $404 billion budget deficit for October 2026, marking a 42% increase from the previous year. This surge was driven by a sharp drop in customs collections and higher military and agricultural spending. The result extends a trend of widening fiscal gaps, with the full-year 2026 deficit already nearing $2 trillion.