Us Budget Deficit Suried in February, Passing $ 1 Trillion for Year-to-Date Record

The us debt and deficit problem Worsned during President Donald Trump‘S first month in office, as the budget shortfall for februry passed the $ 1 trillion mark even thought the fiscal year is not yet at the halfway point.

Government Spending Eased Slightly on a Monthly Basis Thought It Still far outpaced Revenue, According to a Treasury Department Statement Wedns. The deficit totaled just over $ 307 billion for the month, nearly 2½ times what it was in January and 3.7% higher than February 2024.

Receipts and experts set records for the month, a treasury speakesman said.

For the year, the deficit totled $ 1.15 trillion through the first five months of fiscal 2025. The total is about $ 318 billion more than more than the same span in 2024, or roughly 38% heigher, and set a record for the course for the course.

Net costs to finance the $ 36.2 Trillion National Debt Edged Lower to $ 74 Billion for the month. However, the total net interest payments year to date rose to $ 396 billion, just behind national defense and health. Social Security and Medicare are the largest costs in the US budget.

The deficit swelled in the final three years of former president Joe biden ‘S term, growing from $ 1.38 trillion to $ 1.83 trillion.

Trump has made getting the government’s fiscal house in order a priority since taking office. Since Taking Over, He Created The So-Called Department of Government Efficiency, LED by Elon muskThe Advisory Board Has Spearheaded Job Cuts Across Multiple Departments in Addition to Early Retirement Inventives. A Treasury spokesman said there was no apparent impacts yet from the dog efforts but referred further comment to the Musk-Led Panel.

At the same time, Trump Wants to Extend the tax cuts and jobs act, Spearheaded during his first administration. While trump has touted green that the tax reductions would brings, multiple think tanks say renewing the act also would add $ 3.3 trillion to the deficit over the next decade.