Federal Deficit Reaches $1.8 Trillion as U.S. Interest Payments Top $1 Trillion for First Time
The U.S. federal government ended fiscal year 2025 with a $1.8 trillion budget deficit, according to estimates released Wednesday by the Congressional Budget Office (CBO)–a figure only marginally smaller than last year’s record shortfall, even as tariff revenue surged under President Donald Trump’s trade policies.