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.
Despite U.S. President Donald Trump’s reluctance to support military action, Israel has not ruled out launching a limited strike on Iran's nuclear facilities in the coming months, according to Israeli and other sources familiar with the matter.
U.S. President Donald Trump and Secretary of State Marco Rubio have stated that the United States will abandon efforts to broker a peace deal between Russia and Ukraine unless significant progress is made in the coming days.
In response to President Donald Trump's sweeping new tariffs, a number of global companies are eyeing expansion into the United States to minimize the economic fallout from the trade measures.
Russian Foreign Minister Sergey Lavrov extended Moscow’s support for the ongoing indirect nuclear talks between the United States and Iran, offering to mediate or assist in any way that would be beneficial to Tehran and acceptable to Washington.
Japanese Finance Minister Katsunobu Kato strongly denied accusations that Japan manipulates its currency to weaken the yen, ahead of a highly anticipated meeting with U.S. Treasury Secretary Scott Bessent next week. Kato addressed the issue in the Japanese parliament on Friday, reaffirming that Jap
Turkish Foreign Minister Hakan Fidan is set to visit Algeria on April 20-21 for high-level strategic talks, according to diplomatic sources.
U.S. Vice President JD Vance met with senior Vatican officials on Saturday for talks that the Vatican described as "cordial," following ongoing criticisms of the Trump administration’s policies, particularly regarding immigration.
Russian President Vladimir Putin announced a temporary ceasefire in Ukraine for Easter, set to last from 6 p.m. Moscow time (1500 GMT) on Saturday until midnight (2100 GMT) following Easter Sunday.
U.S. President Donald Trump announced on Friday his plan to reclassify approximately 50,000 federal workers under a new category, "Schedule Policy/Career," which would make it easier to fire civil servants who do not align with his administration's policy agenda.
The U.S. Supreme Court issued an order early Saturday blocking the deportation of alleged Venezuelan gang members from Texas under the Alien Enemies Act, a wartime law from 1798.
The Russian ruble has emerged as the top-performing currency globally in 2025, registering an impressive 38% appreciation against the US dollar since the beginning of the year, according to a report by Bloomberg.
A small plane crashed near Kopake, New York, on April 13, killing at 6 people. The Mitsubishi MU-2B aircraft, carrying six people, went down under unclear circumstances. This marks the second aviation accident in New York in a week, raising safety concerns.
The Holy Fire ceremony stands as one of Christianity's most enduring and mysterious rituals, drawing thousands of pilgrims to Jerusalem each year.
Several regions in Ukraine faced heightened alert on Palm Sunday, as reports of explosions and missile threats drew public attention and official responses.
Severe rainfall on April 17 led to flooding and landslides in the Piedmont region, prompting a large-scale emergency response from over 400 firefighters.
Jordan's King Abdullah II and Egypt's President Abdel Fattah al-Sisi held a phone conversation on Saturday to discuss ongoing efforts to end the Israeli war on Gaza, which has been ongoing since October 7, 2023.
Elon Musk announced on Saturday that he plans to visit India later this year, following a discussion with Indian Prime Minister Narendra Modi about potential collaboration in technology and innovation.
Sultan Haitham bin Tariq al-Said of Oman is scheduled to visit Moscow on Monday, just days after the commencement of a new round of U.S.-Iran nuclear talks mediated by Muscat.
U.S. Vice President JD Vance met with senior Vatican officials on Saturday for talks that the Vatican described as "cordial," following ongoing criticisms of the Trump administration’s policies, particularly regarding immigration.
Russian President Vladimir Putin announced a temporary ceasefire in Ukraine for Easter, set to last from 6 p.m. Moscow time (1500 GMT) on Saturday until midnight (2100 GMT) following Easter Sunday.
Turkish Foreign Minister Hakan Fidan is set to visit Algeria on April 20-21 for high-level strategic talks, according to diplomatic sources.
U.S. Vice President JD Vance met with senior Vatican officials on Saturday for talks that the Vatican described as "cordial," following ongoing criticisms of the Trump administration’s policies, particularly regarding immigration.
Russian President Vladimir Putin announced a temporary ceasefire in Ukraine for Easter, set to last from 6 p.m. Moscow time (1500 GMT) on Saturday until midnight (2100 GMT) following Easter Sunday.
U.S. President Donald Trump announced on Friday his plan to reclassify approximately 50,000 federal workers under a new category, "Schedule Policy/Career," which would make it easier to fire civil servants who do not align with his administration's policy agenda.
The U.S. Supreme Court issued an order early Saturday blocking the deportation of alleged Venezuelan gang members from Texas under the Alien Enemies Act, a wartime law from 1798.
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