Reported 14 days ago
The U.S. budget deficit fell by 2% to $1.775 trillion for the fiscal year 2025, a decrease of $41 billion from the previous year, according to the Treasury Department. Record customs receipts, boosted by tariffs implemented during President Trump's administration, contributed to this decline. Despite this reduction, total outlays reached a record $7.01 trillion, primarily driven by increased expenditures in social programs and interest on federal debt.
Source: YAHOO