Prices rising everywhere. When do we rein in the relentless deficit spending that leads to inflation?

Import prices in US rose 1.9% month over month.

This was higher than expected (forecast around 1.0%).

Export prices rose 1.3% month over month.

This was also higher than expected (forecast around 0.9%).

Import prices up big because of fuel and other goods costs.

Year over year, import prices rose 6.7% — biggest jump in long time.

Export prices up 11.2% year over year.

Shows inflation pressure from imports is still strong.

Data from US Bureau of Labor Statistics.

Prices rising everywhere. When do we rein in the relentless deficit spending that leads to inflation?

— David Sommers (@dgsommersmkts) June 16, 2026

The deficit spending crisis is in full-swing.

The US Treasury’s budget deficit fell -$23 billion YoY, or -7% in May, to $293 billion.

However, adjusted for the timing of certain government payments that shifted between months, the May deficit would have been +$74 billion larger than a year ago.

In the first 8 months of the FY2026, the US deficit hit $1.25 trillion, the 3rd-highest in history.

This is only below the $1.37 trillion recorded over the same period in FY2025 and the $2.06 trillion seen during the 2021 pandemic recovery.

Meanwhile, net interest rose +$59 billion YoY, or +8% in the first 8 months of the FY2026, to a record $723 billion, tracking as the 2nd-largest government outlay only behind Social Security.

There is no long-term plan here.