Fact-check · Oct 10, 2026 · Donald Trump
“The federal the federal deficit last year, last fiscal year, was $2,000,000,000,000.”
FALSE
What the record shows
FY2025 deficit was $1.8 trillion per Treasury's final Monthly Treasury Statement; FY2024 was also $1.8 trillion. No recent fiscal year reached $2 trillion.
Speaker claimed $2 trillion deficit for 'last fiscal year.' Treasury data shows FY2025 at $1.8 trillion and FY2024 at $1.8 trillion—$200 billion below the stated figure.
Sources
- U.S. Treasury: FY 2025 Deficit Totaled $1.8 Trillion - AAF
- Treasury Confirms $1.8 Trillion Deficit in FY 2025
- Fiscal 2025 Deficit Was $1.8 Trillion, CBO Says
- U.S. deficit projected to hit $2 trillion, double fiscal target
- https://bipartisanpolicy.org/wp-content/uploads/2019/03/Budget-Deficit.jpg
- National Deficit
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