The federal government managed to become even more fiscally inept during the past fiscal year, running a deficit of nearly $2 trillion, according to the Congressional Budget Office. That's a $218 billion increase from the previous 12 months.

The sea of red ink comes as revenues have risen. Tax collections were up 3 percent in fiscal 2026, coming in at $5.4 trillion, "driven by larger collections of individual income and payroll taxes," the CBO reported. For perspective, federal spending in fiscal 2019--less than a decade ago--was $4.4 trillion, with revenues of........

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