The US budget deficit in the first five months of the 2025 fiscal year reached a record of $ 1.147 trillion, the Treasury Department said on Wednesday, including a $ 307 billion deficit in February, President Donald Trump’s first full month.
The deficit from October to February, which included nearly four months under the government of former President Joe Biden, surpassed the previous record of $ 1.047 trillion from October 2020 to February 2021-a period scheduled for high COVID-19 spending and pandemic revenues.
The Treasury said the February deficit increased $ 11 billion over the same month in 2024, as debt interest spending, social security and health benefits exceeded the growth of revenues.
The results showed little impact on Trump’s initial import tariffs and government efforts to cut spending so far.
The responsible federal budget committee, a fiscal inspection group, said government loans so far this fiscal year amount to about $ 8 billion a day.
“What does not need confirmation is that we are almost mid -fiscal year and we have not done anything to progress to control our growing debt,” the group president Maya Macguineas said in a statement.
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Fiscal year revenues have so far increased 2%, or $ 37 billion, to a record of $ 1.893 trillion, but expenses grew 13%, or $ 355 billion, to a record of $ 3.039 trillion.
