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Last month, budget revenues increased by 9.3% to $296.424 billion, compared to $271.126 billion in the same month last year. Spending increased by 6.4% to $603.441 billion, up from $567.401 billion.
In the initial five months of fiscal 2025, starting on Oct. 1, the U.S. budget shortfall rose 38.5% compared to the previous year, reaching almost $1.147 trillion, a record amount for this timeframe.
Revenues increased by 2% to reach $1.893 trillion, whereas expenditures climbed 13.2% to $3.039 trillion. Both figures also achieved record levels.
Interest payments on the national debt have increased by approximately 10% to $478 billion since the start of the current fiscal year, whereas social spending has grown by 8% to $663 billion.
As previously stated, the deficit in the U.S. state budget at the conclusion of fiscal year 2024, which ended on September 30, reached $1.83 trillion, an increase of 8%.
At the conclusion of the fiscal year 2020, the nation experienced a historic deficit of $3.1 trillion. The most recent year the budget had a surplus was FY2001
source: cnn.com
In the initial five months of fiscal 2025, starting on Oct. 1, the U.S. budget shortfall rose 38.5% compared to the previous year, reaching almost $1.147 trillion, a record amount for this timeframe.
Revenues increased by 2% to reach $1.893 trillion, whereas expenditures climbed 13.2% to $3.039 trillion. Both figures also achieved record levels.
Interest payments on the national debt have increased by approximately 10% to $478 billion since the start of the current fiscal year, whereas social spending has grown by 8% to $663 billion.
As previously stated, the deficit in the U.S. state budget at the conclusion of fiscal year 2024, which ended on September 30, reached $1.83 trillion, an increase of 8%.
At the conclusion of the fiscal year 2020, the nation experienced a historic deficit of $3.1 trillion. The most recent year the budget had a surplus was FY2001
source: cnn.com
