U.S. Budget Deficit Jumps 64% in First Two Months

According to Treasury Department data, the U.S. budget deficit increased in November and showed a much faster pace compared to a year earlier for the fiscal year 2025.

In November, the budget deficit was $366.8 billion, marking a 17% increase compared to November 2023.

The total budget deficit for the first two months of the fiscal year 2025 increased by more than 64% on an unadjusted basis compared to the same period a year earlier.

This rise occurred despite revenues of $301.8 billion, which were approximately $27 billion more than last November.

Expenditures, on the other hand, amounted to $668.5 billion, which is about $80 billion higher than a year earlier. The increase in the red ink pushed the national debt to $36.1 trillion by the end of the month.