The US budget deficit increased in February, bringing $ 1 trillion for a record of the year
The US Treasury building was seen from the Washington Monument of the cold, winter on January 21, 2025 in Washington, DC.
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American debt and deficit problem worsened during the president Donald TrumpThe first month in power, since the lack of budget for February brought a 1 -billion tag, although the fiscal year is not halfway yet.
Government consumption has slightly mitigated monthly, although it has still surpassed the revenue, according to the UU Wednesday statement by the Ministry of Finance. The deficit was just over $ 307 billion for a month, almost 2½ times more than January and 3.7% more than February 2024.
Receiving and expenditures were setting records for the month, a treasure spokesman said.
For a year, the deficit was $ 1.15 trillion over the first five months of a fiscal 2025. A total of about $ 318 billion is more than the same range in 2024, or approximately 38% higher, and set a record in the period.
Net costs for the financing of a $ 36.2 trillion debt to reduce $ 74 billion in a month. However, the total net interest payment to date has increased to $ 396 billion, just behind national defense and health. Social insurance and Medicare are the highest costs in the US budget.
The deficit has swept in the last three years of former president Joe Biden ‘With the term, it grows from $ 1.38 trillion to $ 1.83 trillion.
Trump has made a government fiscal house to order a priority since he took over his duty. Ever since he took over, he created the so -called department of government efficiency, at the helm Elon musk. The Counseling Committee led job reduction in several departments with incentives for early retirement. The treasury spokesman said that there was no apparent influence from Dog’s efforts, but he sent a further comment on the panel under the guidance of Mošus.
At the same time, Trump wants to extend the law on reduction of taxes and jobs, waged during his first administration. While Trump has noted growth that will bring in tax reduction, multiple research tanks say that the renovation of the law would also add $ 3.3 trillion to the deficit in the next decade.
