US president Donald Trump has pledged to cut deficits and government spending since returning to the White House last year. (EPA Images pic)WASHINGTON: The US budget deficit grew to almost US$2 trillion over the past year, government data showed Friday, reaching its highest level since 2021 despite president Donald Trump's promises to cut public spending.
The expansion comes amid growing worries over the massive US$40.3 trillion US debt load and rising inflation, as the cost of borrowing climbs.
Refunds of Trump's tariffs after they were overturned have further fuelled the budget gap.
The federal deficit, which occurs when government spending exceeds its revenues, rose to US$1.99 trillion in fiscal year 2026, the treasury department said.
