The Congressional Budget Office estimates the federal shortfall was $125 billion larger than a year earlier, as fiscal 2027 opened with lower revenue and higher spending.
The Congressional Budget Office estimated that the US federal government ran a $409 billion deficit in October 2026, the first month of fiscal 2027. The estimate was $125 billion above the shortfall in October 2025, Fortune said.
Revenue was $36 billion lower than a year earlier, while spending was $89 billion higher. Together, those changes account for the widening of the monthly gap between government income and spending.
Some federal payments otherwise due on 1 November were made in October in both 2025 and 2026 because the due date fell on a weekend. The budget office’s report pointed to payment timing as a factor in the October deficit.
The monthly deficit measures the gap between revenue and spending; it does not establish how much the Treasury borrowed in any week. The department can finance a deficit by borrowing from the public or reducing its operating cash.
The Treasury says it normally releases its Monthly Treasury Statement on the 8th workday of the following month. That statement provides details of revenue sources, spending by department and agency, and how deficits are financed.
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