⚠️The US budget deficit rose sharply in July

The US Treasury is running the third-largest budget gap in history

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US budget deficit hit $291 billion in July, the 2nd-biggest for any July on record.

This is a sharp reversal from June’s $27 billion budget surplus.

Government spending jumped 9.7% year-over-year, to $630 billion, the second-highest since January.

Revenues rose just 2.5%, to $338 billion, including $19.3 billion in tariff revenue. If not for tariffs, revenue would have dropped.

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After 10 months of Fiscal Year 2025, the budget gap reached $1.63 trillion, the 3rd-largest deficit in history, only below the 2020-2021 Crisis.

Over the last 12 months, rolling deficit reached $1.9 trillion or 6.5% of US GDP.

As a reminder, interest expense is the second-largest US government outlay of $1.2 trillion, only below Social Security Spending. Insane.

How dangerous the US debt crisis has become? Part 1/2

The US government is spending as if the economy is in a recession. What are the consequences for ordinary people, taxpayers, savers, and investors?

globalmarketsinvestor.beehiiv.com/p/how-dangerous-the-us-debt-crisis

🚨Is the United States going to default on its public debt?

What is a Mar-a-Lago Accord and how it could reshape the global financial system?

globalmarketsinvestor.beehiiv.com/p/is-the-united-states-going-to-default-on-its-public-debt

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