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The United States Treasury building is seen from the monument to Washington on a cold winter day on January 21, 2025 in Washington, DC.
Kevin Carter | Getty images
The debt problem and the United States deficit worsened during the president Donald TrumpThe first month in office, since the budget deficit for February approved the $ 1 billion brand despite the fact that the fiscal year is not yet halfway.
Government’s expenditure decreased slightly monthly, although it still exceeded income, according to a statement from the Treasury Department on Wednesday. The deficit totaled just over $ 307 billion for the month, almost 2½ times what was in January and 3.7% higher than February 2024.
The receipts and expenses established records for the month, said a treasure spokesman.
For the year, the deficit totaled $ 1.15 billion during the first five months of fiscal year 2025. The total is approximately $ 318 billion more than the same section in 2024, or approximately 38% higher, and established a record for the period.
Net costs to finance the national debt of $ 36.2 billion below $ 74 billion for the month. However, the total payments of net interest to date increased to $ 396 billion, just behind national defense and health. Social Security and Medicare are the highest costs in the US budget.
The deficit swelled in the last three years of the former president Joe Biden ‘S term, which grows from $ 1.38 billion to $ 1.83 billion.
Trump has made the government’s fiscal house a priority since he assumed office. Since he took over, he created the so -called Government’s efficiency department, led by ELON ALMIZCLE. The Advisory Board has headed employment cuts in multiple departments in addition to early retirement incentives. A treasure spokesman said there were still no apparent impacts of the Lege efforts, but he referred to the panel led by musk.
At the same time, Trump wants to extend the Law of Tax and Jobs Cuts, headed during his first administration. Although Trump has promoted the growth that tax reductions would bring, multiple groups of experts say that renewing the law would also add $ 3.3 billion to the deficit during the next decade.
