US Government Budget Surplus Misses Expetations

The US government recorded a $215 billion budget surplus in April 2026, down from $258.4 billion in the same month a year earlier and below forecasts of a $220 billion surplus. Government outlays rose to $622.3 billion from $591.8 billion in April 2025. The largest spending categories were Social Security ($139 billion), net interest payments ($97 billion), Medicare ($88 billion), and national defense ($77 billion). Meanwhile, receipts declined to $837.3 billion from $850.2 billion a year earlier. Most revenue came from individual income taxes ($515 billion), social insurance and retirement contributions ($196 billion), and corporate income taxes ($83 billion). So far in fiscal year 2026, the US government has accumulated a budget deficit of $954 billion.

The US government recorded a $164.1 billion budget deficit in March 2026, compared with a $160.5 billion deficit a year earlier, and missing forecasts of $156.7 billion. Outlays increased to $549 billion from $528.2 billion, with most spending directed to social security at $139 billion, net interest at $94 billion, healthcare at $90 billion, and national defense at $69 billion. Receipts rose to $384.9 billion from $367.6 billion, driven by individual income taxes at $189 billion, social insurance and retirement at $152 billion, and customs duties at $22 billion.

The United States government recorded a $307.5 billion budget deficit in February 2026, compared with a $296.3 billion deficit in the same month a year earlier. Receipts fell 43.9% from the prior month to $313.3 billion, driven by individual income taxes ($133.4 billion), social insurance and retirement receipts ($144.4 billion), and customs duties ($26.6 billion). The monthly total reflected a normalization of tax collections following seasonal peaks and specific adjustments in corporate and miscellaneous receipts. Meanwhile, outlays fell 5.1% from the prior month to $620.8 billion, with Social Security ($138.4 billion), Health and Medicare ($155.6 billion), and national defense ($71.1 billion) the largest spending categories, while spending totals were influenced by the acceleration of certain benefit payments into February because March 1 fell on a non-business day.