The US government begins the 2027 fiscal year with a record budget deficit of about $404 billion in October, according to US Treasury data. The deficit is reported as higher than in the same month a year earlier, with receipts falling while outlays rise.
Outlets citing the Treasury Department say October receipts drop by roughly $35 billion (about 9%) to $369 billion. Some coverage also attributes part of the decline to lower net customs duty collections. Bloomberg and other outlets similarly frame the change in year-on-year terms, highlighting that the deficit is about 42% higher than a year earlier.
Across the reports, the core figures—deficit size, the comparison to the prior year, and the movement in receipts—match, with limited emphasis on broader implications beyond the month’s federal budget performance.
