The Daily Ledger logo The Daily LedgerFederal money, in plain English
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National debt$40.10T FY2026 deficit$1.97T Debt per resident≈$117K FY2026 receipts$4.85T FY2026 outlays$6.81T Operating balance$959.6B Figures as of Sep 28, 2026 · Sourced from U.S. Treasury data

What’s inside each issue

Every week

The three numbers

The deficit, the debt, and debt per resident — updated from the latest Treasury releases, with what moved and why.

Every week

One explainer

A single budget concept, untangled in plain English: mandatory vs. discretionary, trust funds, net interest, and more.

Every week

The Daily Number recap

The most interesting day in Treasury cash flow that week — and what it actually tells us.

Every week

Check our work

Every figure links to its Treasury source. If we get something wrong, the correction leads the next issue.