The U.S. budget deficit reached a record $1.147 trillion in the first five months of fiscal 2025, the Treasury Department reported on Wednesday. February alone saw a $307 billion shortfall, marking a 4% increase from the same month last year and representing President Donald Trump’s first full month in office this term. Rising government spending and lower revenues continue to drive the growing deficit, adding to concerns over the nation’s fiscal trajectory.
U.S. Budget Deficit Hits Record $1.147 Trillion in First Five Months of Fiscal 2025
