US: Budget Deficit Widens More Than Forecast in October.

The US government budget deficit widened to $404 billion in October 2026 from $284 billion a year earlier, missing forecasts of a $298.6 billion gap. Outlays rose to $773 billion from $689 billion. The largest expenditures were Medicare ($170 billion), Social Security ($143 billion), national defense ($103 billion), and net interest ($103 billion), followed by health ($94 billion), income security ($58 billion), and veterans' benefits ($54 billion). Meanwhile, receipts declined to $369 billion from $404 billion, with individual income taxes ($186 billion), social insurance and retirement ($131 billion), and customs duties ($19 billion) as the largest revenue sources.