The budget deficit swells, while the cost of debt rises

Data: Office of Management and Budget via Fred , U.S. Treasury; Note: 2026 GDP estimated using extrapolated Q3 growth via CFRB; Chart: Emily Peck/Axios The U.S. budget deficit is ballooning, reaching $2 trillion this fiscal year, according to the latest figures. Why it matters: That's the largest deficit since 2021, when the U.S. was climbing out of the…