Net Government Transfers — Fiscal Year to Date
Federal spending minus federal receipts, excluding debt operations, summed over the fiscal year — the dollars the government has added to the private sector's income this year.
Net government transfers through October 26, $147.0 bln, up $45.2 bln y-o-y. The y-o-y gap widened by $30.2 bln over the week.
Last two years
Source: U.S. Treasury, Daily Treasury Statement (FiscalData API). Excludes public-debt cash issues and redemptions. Millions of dollars, fiscal year beginning October 1.
Questions
What is the latest net government transfers?
$147.0 bln as of October 26, 2026.
What does net government transfers measure?
Federal spending minus federal receipts, excluding debt operations, summed over the fiscal year — the dollars the government has added to the private sector's income this year.
Why does it matter for markets?
Every dollar of deficit is a dollar of surplus somewhere outside government. When this line climbs faster than last year, incomes and revenues have a tailwind that rate hikes alone can't cancel.
Where does the data come from and how often is it updated?
U.S. Treasury, Daily Treasury Statement (FiscalData API). This page refreshes automatically every business day, within an hour of the source publishing.
Related series
- Treasury Withdrawals (Government Spending) — Fiscal Year to Date
- Treasury Deposits (Government Receipts) — Fiscal Year to Date
- Employment & Withholding Tax Deposits — Fiscal Year to Date
- Daily Treasury Withdrawals — 10-Day Average and Monthly Run-Rate
- Unemployment Insurance Benefit Payments — Daily, 10-Day Average
- Interest Paid on Treasury Securities — Fiscal Year to Date