Budget deficit rose in December and is now 40% higher than it was a year ago

The Federal Budget Sank Further Into Red Ink DURING DURING DURING DURING DURENT The first fiscal Quarter deficit

For the final calendar month of 2024, the shortfall totaled $ 86.7 billion, which actually represented a 33% decline for the same period a year prior, according to a treasury represent reportment. However, that brieft the three-month fiscal year total to $ 710.9 billion, some $ 200 billion more than more than the comparable period in the Prior Year, or 39.4%.

Rising Financing costs along with continued spending and declining tax receipts have combined to send deficits spiraling, pushing the national debt past the $ 36 trillion mark.

Thought Short-Term Treasury Yields Have Held Fairly Steady Over the Past Month, Rates at the far end of the Duration curve have surgged. The Benchmark 10-Year Note Most Recently Yielded Close to 4.8%, or about 0.4 permentage point about Above where it was a month.

At the same time, outlays during the first Quarter Ware 11% Higher Than A Year ago While Receipts Fell by 2%.

Interest on the national debt has totled $ 308.4 billion in fiscal 2025, up 7% from a year ago. Financing costs are projection to top $ 1.2 trillion for the full year, which would surpass 2024’s record.

The government this year has spent more on Interest payments than any other category but social security, defense and health care.