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MNI: US Budget Deficit Widens To Record In First 3Mos Of FY25

BriefStoryPolicy News

MNI (WASHINGTON) - The U.S. government ran a record USD711 billion deficit for the first three months of the fiscal year, up 39% from last year's USD510 billion, on increases in defense and healthcare spending, according to Treasury officials Tuesday. 

Spending so far in the fiscal year that began Oct. 1 is up 11% to USD1.794 trillion, also a record for the first three months of the year, compared to last year's USD1.618 trillion. The month of December saw a USD86.7 billion deficit, a smaller gap compared with a year earlier, as additional revenue more than offset increased spending. Federal outlays in December fell 3% from a year ago to USD541 billion, the Treasury said.  

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MNI (WASHINGTON) - The U.S. government ran a record USD711 billion deficit for the first three months of the fiscal year, up 39% from last year's USD510 billion, on increases in defense and healthcare spending, according to Treasury officials Tuesday. 

Spending so far in the fiscal year that began Oct. 1 is up 11% to USD1.794 trillion, also a record for the first three months of the year, compared to last year's USD1.618 trillion. The month of December saw a USD86.7 billion deficit, a smaller gap compared with a year earlier, as additional revenue more than offset increased spending. Federal outlays in December fell 3% from a year ago to USD541 billion, the Treasury said.