US deficit crisis deepens with $316B shortfall in May and $2T gap over 12 months despite record tariff revenue

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BREAKING: The US Treasury posted a $316 billion budget deficit in May, the third-largest on record.

This comes as total government outlays rose 3% from YoY, to $687 billion, per ZeroHedge.

And, while tariff revenue surged 270% YoY, to a record $23 billion, it barely made a dent in the deficit.

In the first 8 months of Fiscal Year 2025, the budget gap now stands at $1.37 trillion, the third-largest in history.

The 12-month federal deficit now stands at $2.0 trillion, or 6.7% of GDP, up from 6.1% a year ago.

The deficit spending crisis is worsening.