- Prior year $-129 billion
- December budget deficit $-87 billion versus $-75 billion expected
- US fiscal 2025 year-to-date deficit $711 billion. That is a record for the first three months of the fiscal year. Last year $510 billion (39% increase)
- December budget outlays $541 billion versus $559 billion in December 2023
- December budget receipts $454 billion versus $429 billion in December 2023
- Interest-rate cause for the first quarter 2025 $308 billion.
- US spent $104 billion in interest on the public debt in December which is 17% higher than the same month a year ago
- Homeland security +41%. Veterans affair +13%. Social Security +6%
That is not good news.
With the deficit high, the treasury has to borrow more money. Compounding the problem is that the new debt that is issued is being issued at higher rates exasperating the deficit even more.
Can we grow out of it?
