The US budget deficit is nearing $2T and it's a reality check for Trump's cost cutting. Whoever owns the fiscal agenda inherits the same math: this much supply of duration keeps the long end of the cu

What happened: The U.S. budget deficit is nearing $2 trillion, driven by higher interest rates, spending on the Iran war, and tariff refunds. Key numbers: Deficit nears $2 trillion. Why it matters: The figure is described as a reality check for the Trump administration's cost cutting efforts, as borrowing costs rise.

The U.S. budget deficit is nearing $2 trillion, driven by higher interest rates, spending on the Iran war, and tariff refunds.

The figure is described as a reality check for the Trump administration's cost cutting efforts, as borrowing costs rise.