The U.S. budget deficit reached $307 billion during President Donald Trump’s first full month in office, marking a 4% increase—an additional $11 billion—over the same period last year, according to the Treasury Department.
Record receipts bolstered the figures in February, with federal income totaling $296 billion—a 9% rise or an extra $25 billion compared with the previous year. However, government spending surged even more, with outlays reaching a record $603 billion in February, up 6% or $36 billion year over year.
After calendar adjustments for both receipts and expenditures, the adjusted deficit would have stood at $311 billion, representing a 3% increase over February 2024.
For the first five months of fiscal 2025, the overall deficit ballooned to $1.147 trillion, up 38%—or $318 billion—from a year earlier. Fiscal year-to-date receipts increased by 2%, or $37 billion, to a record $1.893 trillion, while outlays climbed 13%, or $355 billion, to a record $3.039 trillion.
Driving the spending growth were higher costs associated with Treasury’s interest on the public debt, increased outlays for Child Tax Credit payments, and elevated Social Security payments—partly due to a 2.5% cost-of-living adjustment for 2025.
The steep rise in both spending and the overall deficit highlights the fiscal challenges facing the administration as it navigates a period marked by record revenues alongside rapidly escalating expenditures.
Chinese Vice Premier He Lifeng will visit the UK from June 8–13 for the first round of China-U.S. economic and trade consultations. Talks will include U.S. Treasury and Commerce Secretaries and Trade Representative Jamieson Greer.
U.S. President Donald Trump has warned that there could be “serious consequences” if Elon Musk provides financial support to Democratic candidates challenging Republicans who back Trump’s tax-cut bill, signalling a sharp turn in their previously cordial relationship.
The United States has appointed Lieutenant General Alexus G. Grynkewich as the next Supreme Allied Commander Europe (SACEUR). This development occurs as NATO allies prepare for a summit in The Hague later this month, where they have agreed to increase defence spending to 5% of their GDP.
After nearly a decade of talks, Indonesia and the European Union aim to finalize a free trade deal by the end of June.
A tense Friday evening descended into chaos in downtown Los Angeles as federal immigration raids ignited furious protests, culminating in a dramatic standoff between demonstrators and helmeted police in riot gear.
Israel’s military says it has identified the body of top Hamas commander Mohammed Sinwar beneath a hospital in southern Gaza.
Russia says its troops have entered the Dnipropetrovsk region for the first time, but Ukrainian officials reject the claim.
A powerful earthquake has hit Colombia, with authorities reporting no immediate casualties and ongoing assessments in several areas.
Israel’s defence minister has ordered the military to stop an aid ship carrying Greta Thunberg from reaching Gaza.
National Guard troops have been sent to Los Angeles after protests erupted over immigration arrests.
Start your day informed with AnewZ Morning Brief: here are the top news stories for June 8th, covering the latest developments you need to know.
Presidential candidate Miguel Uribe Turbay is in critical condition after being shot three times — including twice in the head — during a campaign event in Bogotá.
A 30-year-old woman was shot by police in Munich on Saturday evening after stabbing two people at Theresienwiese, a central park best known for hosting Oktoberfest.
Ukraine’s Security Service (SBU) has confirmed it carried out a third targeted attack against the Crimean Bridge, also known as the Kerch Bridge, early Tuesday morning, marking a new escalation in the ongoing conflict with Russia.
A strong 6.3 magnitude earthquake shook Japan’s Hokkaido prefecture early Monday, causing no reported injuries or damage, and no tsunami warning was issued, officials confirmed.
Israel’s military says it has identified the body of top Hamas commander Mohammed Sinwar beneath a hospital in southern Gaza.
Russia says its troops have entered the Dnipropetrovsk region for the first time, but Ukrainian officials reject the claim.
A powerful earthquake has hit Colombia, with authorities reporting no immediate casualties and ongoing assessments in several areas.
Israel’s defence minister has ordered the military to stop an aid ship carrying Greta Thunberg from reaching Gaza.
National Guard troops have been sent to Los Angeles after protests erupted over immigration arrests.
Israel’s military says it has identified the body of top Hamas commander Mohammed Sinwar beneath a hospital in southern Gaza.
Russia says its troops have entered the Dnipropetrovsk region for the first time, but Ukrainian officials reject the claim.
A powerful earthquake has hit Colombia, with authorities reporting no immediate casualties and ongoing assessments in several areas.
Israel’s defence minister has ordered the military to stop an aid ship carrying Greta Thunberg from reaching Gaza.
National Guard troops have been sent to Los Angeles after protests erupted over immigration arrests.
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