The U.S. budget deficit surged past the $1 trillion mark in February, less than six months into fiscal year 2025.

this year's budget deficit is tracking more than $318 billion larger. The nonpartisan Congressional Budget Office (CBO) released an analysis that broke down the changes in federal spending and ...

But neither chamber is willing to budge, setting the stage for a drawn-out battle over government spending ... the deficit would rise even further—by $6 trillion over the next 10 years.

Minnesota’s economists are expecting a slight worsening in projected tax collections in the next two-year budget, and an already looming deficit in later budgets got even more looming.

Peterson Foundation. Our federal government is spending considerably more each year than it brings in. As deficit spending grows so does the interest on the debt the U.S. must pay annually.

Even though government revenue was high, the increased spending resulted in a deficit. In fact, over the last 50 years, the government has operated on a surplus only four times, most recently in 2001.