When the Treasury Department released its final budget numbers for fiscal year 2026 on Friday, what little coverage there was focused on the deficit, which came in just a hair’s breadth short of $2 trillion.
But what the “news” media missed was the much bigger story the report told. Namely, that the ongoing claims about “massive” cuts to Medicaid are one big, pre-Ozempic-fat lie.
According to the latest “Monthly Treasury Statement,” revenues in FY 2026 came in at just over $5.4 trillion while spending was just under $7.4 trillion, leaving a deficit of $1.992 trillion.