Despite concerns from debt hawks, the U.S. government is continuing to borrow at pace: For the fiscal year of 2026 so far, the federal deficit has totaled just under $1.4 trillion.
The first nine months of this fiscal year (beginning in October) have now surpassed the borrowing levels of 2025, when deficits totaled just over $1.3 trillion for the same period.
At the time of writing, the total U.S. national debt sits at $39.4 trillion, accumulated under administrations led by both Republicans and Democrats.
As such, the monthly borrowing for 2026 now sits at roughly $155 billion, or $39 billion per week. And, like any borrower, that debt carries an interest cost. The latest monthly budget review from the Congressional Budget Office (CBO) confirms that net interest on public debt for the fiscal year has hit $857 billion: roughly $23.8 billion a week.
