Economic Briefing/Economic Insights
To-the-point economic analysis by Commerzbank's research team
© Commerzbank
9 October 2026
US – Deficits don't matter, until they do
In fiscal year 2026, which just ended, the U.S. federal government’s deficit rose to $2 trillion, exceeding 6% of GDP. In addition to the continued increase in social spending, higher interest payments weighed on the budget. There is no relief in sight; the national debt will soon surpass the previous record high set at the end of World War II.
