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.
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… pic.twitter.com/o7Ac7DvfgA
— The Kobeissi Letter (@KobeissiLetter) June 25, 2025