According to the Treasury Department, America’s deficit surpassed the $1 trillion mark this February. The deficit reached $307 billion for the month, marking a 2.5X increase on a monthly basis and 3.7% higher on an annual basis.
The deficit for the first five months of FY25 hit $1.15 trillion, a $318 billion increase (+38%) from the same period last year. America is paying $74 billion simply to finance this debt, with interest payments over the FY rising to $396 billion.
The deficit under the last three years of Biden-Harris grew from $1.38 trillion to $1.83 trillion as the public sector and government spending multiplied. Trump is attempting to make a dent in government spending through DOGE, but he is hitting America’s revenue with these tariffs. Both measures have only just begun and have not made a major impact on the economy yet.
Deficits no longer create economic growth;…
