The federal budget deficit totaled $1.0 trillion in the first five months of fiscal year 2026, CBO estimates. That amount is $142 billion less than the deficit recorded during the same period last fiscal year.
Presentation about work by Daniel Crown, an analyst in CBO's Long-Term Analysis Unit, and Randall Akee, Harvard University, at Immigrants and the U.S. Economy, a National Bureau of Economic Research conference.
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