The U.S. price range deficit totaled $307 billion for President Donald Trump’s first full month in workplace, up 4%, or $11 billion, from a 12 months in the past, the Treasury Division mentioned on Wednesday, at the same time as progress in receipts outpaced that of spending.
Receipts totaled $296 billion in February, a file for that month. That determine was up 9%, or $25 billion, in contrast with a 12 months earlier. However outlays in February totaled $603 billion, additionally a file for that month. That was up 6%, or $36 billion, from the year-earlier interval.
After calendar changes for each receipts and outlays, the adjusted deficit would have been $311 billion, a 3% enhance over the determine in February 2024, the Treasury Division mentioned.
The deficit for the primary 5 months of fiscal 2025 got here to $1.147 trillion, up 38%, or $318 billion, from a 12 months earlier. Fiscal year-to-date receipts rose 2%, or $37 billion, to a file $1.893 trillion, however outlays grew 13%, or $355 billion, to a file $3.039 trillion.
Driving the spending progress in February was increased spending on Treasury’s curiosity on the general public debt, outlays for Baby Tax Credit score funds and elevated Social Safety funds due partially to a 2.5% cost-of-living adjustment for 2025.
—David Lawder, Reuters
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