Worse Than Biden: Despite Surge in Tariff Revenue Trump Runs Massive July Deficit
Despite all the talk about spending cuts and rising revenues out of the Trump White House, the budget deficit is worse now than it was at the end of Biden’s term. Even with a big surge in tariff revenue, the Trump administration still ran a massive shortfall in July....
Feds Kick off Fiscal 2025 With Another Big Deficit
After running the third-largest budget deficit in history in fiscal 2024, the federal government kicked off fiscal 2025 with more of the same. The federal government ran a $257.45 billion budget shortfall to start the new fiscal year, with revenue down and spending...
Feds Run Third-Largest National Debt Ever as Interest Payments Eclipse $1 Trillion
In one of the biggest economic stories of the year that nobody seems to care about, the Biden administration ran the third-largest budget deficit in history in fiscal 2024, and paid over $1 trillion just on interest payments on the debt. This is the kind of borrowing...