The U.S. Department of the Treasury has released the Monthly Treasury Statement for August 2026. In a new insight, Director of Fiscal Policy Jordan Haring highlights its most notable findings.
Key points:

• This Monthly Treasury Statement shows the federal budget deficit totaled $2.0 trillion during the first 11 months of fiscal year (FY) 2026 – $8 billion lower than the corresponding period in FY 2025; the FY 2026 cumulative deficit was the net effect of $4.8 trillion of revenue collections and $6.8 trillion of spending.
• On a monthly basis, the budget deficit totaled $167 billion in August 2026 – $178 billion lower than in August 2025; the August 2026 deficit was the net effect of $360 billion of revenue collections and $527 billion of spending.
• Revenue is up by $154 billion in FY 2026, driven by higher individual income and payroll tax collections and larger customs duties; spending is up by $147 billion, driven by higher entitlement spending and larger interest payments on the national debt.
• Federal debt held by the public totaled $32.4 trillion at the end of August 2026 – $2.4 trillion higher than the debt at the end of August 2025.

Read the analysis.