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Revenues rose by 2.5%, reaching $338.492 billion. The budget received $27.7 billion from customs duties, nearly four times the amount from last year ($7.1 billion).
Expenses rose by 9.7% - reaching $629.635 billion, the highest total for July. The total of interest payments on the national debt was $91.9 billion.
In the first ten months of the 2025 fiscal year, starting October 1, the US budget's negative balance rose by 7.4% compared to the previous year and nearly hit $1.629 trillion.
The total revenue grew by 6.4% to $4.347 trillion. Spending rose by 6.7% to reach $5.975 trillion. Both numbers are unprecedented.
A historic deficit of $3.1 trillion was reported in the nation for the 2020 fiscal year. The budget was most recently balanced with a surplus during the 2001 fiscal year.
source: cnn.com
Expenses rose by 9.7% - reaching $629.635 billion, the highest total for July. The total of interest payments on the national debt was $91.9 billion.
In the first ten months of the 2025 fiscal year, starting October 1, the US budget's negative balance rose by 7.4% compared to the previous year and nearly hit $1.629 trillion.
The total revenue grew by 6.4% to $4.347 trillion. Spending rose by 6.7% to reach $5.975 trillion. Both numbers are unprecedented.
A historic deficit of $3.1 trillion was reported in the nation for the 2020 fiscal year. The budget was most recently balanced with a surplus during the 2001 fiscal year.
source: cnn.com