US annual budget gap hits nearly $2 trillion, largest in 5 years - Reuters

More in Finance

• Govt renames prominent pension schemes

  The government has approved the continuation of the National Social Assistance Programme (NSAP) and renamed some schemes, while revising eligibility criteria and coverage. The guidelines for the revision in the disability pension scheme will be prepared and implemented within three months.

  2 min read
• Gold bond turns Rs 1L investment into Rs 2.92L

  The gold bond, which was initially valued at Rs 1 lakh, has seen a significant appreciation, reaching Rs 2.92 lakh after a 192% return. This investment turned into a substantial gain, showcasing the potential for high returns in gold bonds.

  2 min read
• Trillion dollar gap: US budget deficit swells to nearly $2 tn in fiscal 2026

  The US budget deficit surged to nearly $2 trillion in fiscal 2026, marking the highest deficit in five years, driven by increased spending on social benefits, defense, and tariff refunds. The deficit, at $1.99 trillion, surpassed the previous record of $1.78 trillion in the previous fiscal year, with debt servicing now the third-largest spending category and defense spending rising by 6%. Government revenue increased by $169 billion, while outlays rose by $386 billion, leading to a deficit of 6.2% of GDP, higher t…

  2 min read