AI Data Insight
The latest Q2 2026 data reveals that the US government fiscal deficit is $120.3 billion. Although it narrowed compared to the previous value of $292.6 billion, it shows a sharp deterioration when compared to the $27 billion surplus in the same period last year. The primary reason for this surge in the deficit is the US Supreme Court's ruling that the previous administration's tariffs were unconstitutional, resulting in the Treasury having to pay nearly $50 billion in tariff refunds. Looking ahead, besides the short-term disruption from tax refunds, high national debt interest and social welfare expenditures will continue to pose severe medium-term challenges to US fiscal health.