US budget deficit nears $2 trillion as interest payments top $1 trillion
The federal government's fiscal gap widened due to increased debt servicing and tariff refunds, according to the Congressional Budget Office.
AI-assisted coverage comparison, editor-supervised · How this was made
Gray clouds hang over the US Capitol on September 28.
Photograph: CNN (embedded from source)
What this story says
- The US federal budget deficit reached nearly $2 trillion for the fiscal year ending September 30, according to the Congressional Budget Office.
- Net interest payments on the public debt surpassed $1 trillion for the first time, an 11% increase from the previous year.
- Tariff refunds, estimated at $130 billion, contributed to the deficit's growth.
- US national debt hit a record $40 trillion in August.
Who covered it
Percentages are shares of the 25 outlets carrying a published leaning rating. 11 of the 36 outlets we know ran this story carry no rating and are not counted in them. Coverage measured .
Trust
58/100
Craft
69/100
Hype
35/100
36 sources · methodology
Thin on the left so far
Only 1 of the 25 outlets with a published leaning rating that ran this story are rated left.
This story is still being watched, so it is a count and not yet a finding. Coverage keeps arriving for hours after an event, and a side that has published nothing this morning may publish by tonight. If it is still true when we stop checking, we will say so plainly.
The federal budget deficit for the past fiscal year, which concluded on September 30, reached nearly $2 trillion, as reported by the Congressional Budget Office. This represents a $218 billion, or 12%, increase from the previous year. A significant factor contributing to this widening gap was the net interest payments on the public debt, which exceeded $1 trillion for the first time. These payments rose by 11% due to increased national debt and higher interest rates, surpassing all government spending categories except Social Security.
The deficit was also influenced by tariff refunds, estimated by the CBO at approximately $130 billion, issued after a Supreme Court ruling found certain tariffs imposed by the Trump administration to be unlawful. The US national debt reached a record $40 trillion in August. Corporate tax revenue declined by 16% to $382 billion, a change attributed by some to tax law provisions allowing larger deductions for business investments.
Disagreement on revenue growth
While the Congressional Budget Office reported a decline in corporate tax revenue, Reason stated that tax revenue increased by about 3 percent last year, though spending increased at twice that rate. Moncloa reported that the US federal deficit rubs the $2 trillion mark for interest payments and duty refunds.
What the coverage left out
None of the left-rated, centre-rated, or right-rated digests mention the specific figure of $382 billion for corporate tax revenue, nor do they detail the 16% decline in this revenue. The full reports from CNN and KIFI do include this information.
Still developing. We have re-checked which outlets are covering this 2 times, most recently on 9 Oct 2026, 20:15, and will add the sides that appear.
How each side covered it
Our own reading of the reporting listed below, written from the outlets’ articles rather than quoted from them. The reasoning is set out on our methodology page.
Left
1 rated outlet
- The left-rated report from CNN highlighted the nearly $2 trillion deficit, driven by ballooning interest payments and tariff refunds. It noted that net interest payments on the public debt topped $1 trillion for the first time, exceeding spending on any category other than Social Security. The report also mentioned that the US debt hit a record $40 trillion in August and that the "big, beautiful bill" enacted by congressional Republicans was expected to add trillions more to the national debt. It quoted Maya MacGuineas, president of the Committee for a Responsible Federal Budget, stating, "Clearly, we can’t keep going like we have."
Centre
13 rated outlets
- Centre-rated reports from outlets including KIFI, KRDO, KEYT, KESQ, KVIA, KMIZ, and KIMT, which largely mirrored CNN's reporting, focused on the $2 trillion deficit and the record $1 trillion in net interest payments. They also cited tariff refunds as a contributing factor. Reason noted that while tax revenue increased by about 3 percent, spending rose twice as fast, and interest payments on the debt exceeded $1.1 trillion. Quartz reported the $1.993 trillion shortfall was 12% above the prior year, driven by rising interest costs, entitlement spending, and tariff refunds.
Right
11 rated outlets
- Right-rated reports from Fox Business, AAF, voz.us, Just the News, [your]NEWS, news-pravda.com, 연합뉴스-Yonhap News Agency, Washington Times, and Washington Examiner highlighted the $2 trillion deficit figure. Several mentioned interest payments and tariff refunds as key factors. [your]NEWS specifically noted that interest payments exceeded $1.1 trillion. News-pravda.com stated the American budget is collapsing under the weight of its own expenses. Washington Examiner reported the deficit added to debt fears, noting spending rose faster than revenues.
Questions about this coverage
- How did the left and right cover US budget deficit nears $2 trillion as interest payments top $1 trillion?
- Of the 25 outlets on this story carrying a published leaning rating, 4% are rated left, 52% are rated centre, 44% are rated right. Those percentages are shares of the rated outlets, not of every outlet that ran it, which was 36. The sections above set out what each side emphasised, in its own terms.
- Is US budget deficit nears $2 trillion as interest payments top $1 trillion left or right?
- Neither side dominates it. Of the 25 rated outlets on this story, 4% are rated left, 52% are rated centre, 44% are rated right, and no side holds the 70% this site would want before calling a field one-sided. A story is not left or right in any case; the outlets that carried it are what carry ratings.
- Is the coverage of US budget deficit nears $2 trillion as interest payments top $1 trillion biased?
- US budget deficit nears $2 trillion as interest payments top $1 trillion is one event reported by 36 outlets, and this page does not rate the story as biased or unbiased. What it publishes is the spread: which outlets ran it, where named rating organisations place each of them on the spectrum, and what each side chose to lead with. A leaning rating describes an outlet's record over time, not this article, and the two should not be run together.
- Which side is not reporting US budget deficit nears $2 trillion as interest payments top $1 trillion?
- When we first saw this story, outlets rated left had barely covered it. Coverage accretes for hours after an event, so that is where to look rather than a verdict — the split above is the current count, and it is the one to read.
- Which outlets covered US budget deficit nears $2 trillion as interest payments top $1 trillion?
- 36 that we know of, every one of them listed further up this page with a link to its own report and to what we hold on the publisher. Nothing here is a summary of somebody else's summary: the outlets are named so the original reporting can be read.
- What was the US federal budget deficit for the past fiscal year?
- The US federal budget deficit for the fiscal year ending September 30 was nearly $2 trillion, according to the Congressional Budget Office. This figure represents a 12% increase from the previous year.
- What were the main drivers of the increased deficit?
- The deficit widened due to increased net interest payments on the public debt, which surpassed $1 trillion for the first time, and tariff refunds estimated at $130 billion. Corporate tax revenue also declined.
- How much is the US national debt?
- The US national debt hit a record $40 trillion in August, according to reports. This growing debt level contributes to higher interest payments.
Read it at the source
36 outlets, grouped by the leaning a published rating gives them. Every headline links to the original; an underlined outlet name opens our profile of that publisher.
Left
1Centre
13- The federal government just posted the largest deficit since COVID (opens Reason in a new tab)
- U.S. federal budget deficit hits $2 trillion in fiscal year 2026 (opens Quartz in a new tab)
- Federal budget deficit climbs to $2 trillion as fiscal jitters multiply (opens kioncentralcoast.com in a new tab)
kioncentralcoast.com — is kioncentralcoast.com biased? Our profile of this outlet
- Federal budget deficit climbs to $2 trillion as fiscal jitters multiply (opens KDRV in a new tab)
- Federal budget deficit climbs to $2 trillion as fiscal jitters multiply (opens kimt.com in a new tab)
- Federal budget deficit climbs to $2 trillion as fiscal jitters multiply (opens KMIZ in a new tab)
- Federal budget deficit climbs to $2 trillion as fiscal jitters multiply (opens KESQ in a new tab)
- Federal budget deficit climbs to $2 trillion as fiscal jitters multiply (opens KEYT in a new tab)
Show 5 more
- Federal budget deficit climbs to $2 trillion as fiscal jitters multiply (opens KVIA in a new tab)
- Federal budget deficit climbs to $2 trillion as fiscal jitters multiply (opens KRDO in a new tab)
- Federal budget deficit climbs to $2 trillion as fiscal jitters multiply (opens KIFI in a new tab)
- Federal budget deficit climbs to $2 trillion as fiscal jitters multiply (opens KITV4 News in a new tab)
KITV4 News — is KITV4 News biased? Our profile of this outlet
- U.S. Budget Deficit Jumps to Nearly $2 Trillion (opens Political Wire in a new tab)
Political Wire — is Political Wire biased? Our profile of this outlet
Right
11- CBO: FY 2026 Budget Deficit Totaled $2 Trillion (opens AAF in a new tab)
AAF
- US budget deficit projected to hit $2 trillion as spending climbs (opens Fox Business in a new tab)
Fox Business — is Fox Business biased? Our profile of this outlet
- The Federal Budget Deficit Increased to Nearly $2 Trillion; Interest Payments and Duty Refunds Are Determining Factors (opens voz.us in a new tab)
- U.S. budget deficit soars to $2T and neither party is touching it (opens Seeking Alpha in a new tab)
Seeking Alpha — is Seeking Alpha biased? Our profile of this outletOpinion
- Federal budget deficit increased to nearly $2T, interest payments, tariff refunds factors: report (opens Just the News in a new tab)
Just the News — is Just the News biased? Our profile of this outlet
- Federal Deficit Surges Toward $2 Trillion as Interest Payments Exceed $1.1 Trillion (opens [your]NEWS in a new tab)
[your]NEWS — is [your]NEWS biased? Our profile of this outlet
- The American budget is collapsing under the weight of its own expenses (opens news-pravda.com in a new tab)
news-pravda.com — is news-pravda.com biased? Our profile of this outletOpinion
- U.S. Fiscal Deficit Nears $2 Trillion This Year… "Unsustainable Situation" (opens 연합뉴스-Yonhap News Agency in a new tab)
연합뉴스-Yonhap News Agency — is 연합뉴스-Yonhap News Agency biased? Our profile of this outlet
Show 3 more
- Federal budget deficit climbed to $2 trillion for fiscal '26 (opens Washington Times in a new tab)
Washington Times — is Washington Times biased? Our profile of this outlet
- Federal deficit rose to $2 trillion for fiscal 2026, adding to debt fears (opens Washington Examiner in a new tab)
Washington Examiner — is Washington Examiner biased? Our profile of this outlet
- The Federal Deficit Is Now $2 Trillion (opens National Review in a new tab)
National Review — is National Review biased? Our profile of this outlet
Not rated
11- U.S. Federal Deficit Skyrockets to Nearly 2 Billion for Interest Payments and Duty Refunds (opens Moncloa in a new tab)
- U.S. Budget Deficit Jumps to Nearly $2 Trillion (opens schwartzreport.net in a new tab)
schwartzreport.net — is schwartzreport.net biased? Our profile of this outlet
- U.S. Deficit Crossed USD 2 Billion in Fiscal Year 2026 (opens DiarioBitcoin in a new tab)
DiarioBitcoin — is DiarioBitcoin biased? Our profile of this outlet
- U.S. Budget Deficit Nears $2 Trillion as Spending Rises 6% (opens TokenPost in a new tab)
- US Budget Deficit Nears $2 Trillion (opens Dnevnik in a new tab)
- The US Federal Budget Deficit Has Risen to Nearly $2 Trillion. (opens vietnamplus.vn in a new tab)
vietnamplus.vn — is vietnamplus.vn biased? Our profile of this outlet
- US Budget Deficit Soars to Nearly $2 Trillion (opens Reporter.gr in a new tab)
Reporter.gr — is Reporter.gr biased? Our profile of this outlet
- The US Fiscal Deficit Has Increased to $2 Trillion, with Interest Payments Exceeding $1 Trillion for the First Time. (opens 大纪元 Epoch Times in a new tab)
大纪元 Epoch Times — is 大纪元 Epoch Times biased? Our profile of this outlet
Show 3 more
- U.S. Fiscal Deficit Nears $2 Trillion… Largest Since 2021 (opens asiae.co.kr in a new tab)
asiae.co.kr — is asiae.co.kr biased? Our profile of this outlet
- U.S. Budget Deficit Jumps to Nearly $2 Trillion (opens BizToc in a new tab)
- TCS President's Statement on CBO Announcing $2 trillion deficit in FY2026 - Taxpayers for Common Sense (opens taxpayer.net in a new tab)
taxpayer.net — is taxpayer.net biased? Our profile of this outletOpinion
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