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  • ⚠️US budget deficit reached $711 billion in the first 3 months of the Fiscal Year 2025, a new record

⚠️US budget deficit reached $711 billion in the first 3 months of the Fiscal Year 2025, a new record

The US government budget gap is at crisis levels

January 15, 2025

The US budget deficit reached $711 billion for the first 3 months of the Fiscal Year 2025 up 39% from the previous year. Total outlays rose to $1.1 trillion, way below total outlays of $1.8 billion.

Interest payments alone jumped to $242 billion accounting for a huge 22% of total government revenues.

In effect, the deficit reached $2.0 trillion for the full calendar year 2024, up by $248 billion from 2023.

Such a high budget gap has never been seen outside of wars or major economic crises.

To put this differently, the deficit is rising as if there is a recession.

You can find a comprehensive analysis of the US public debt in the below piece:

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