US budget deficit exceeded $1T in Trump's first month
In the first month of Trump’s presidency, the US budget deficit increased significantly, reaching $1 trillion.
In February 2025, the US budget deficit surpassed $1 trillion, worsening the country’s national debt and budget deficit, according to CNBC. According to the US Treasury Department, the deficit in February was over $307 billion, nearly 2.5 times more than in January, and 3.7% higher than in February 2024. This resulted from the country’s expenses significantly exceeding its revenues, despite a slight reduction in government spending compared to previous months.
Against this backdrop, the US budget deficit for the first five months of the 2025 fiscal year reached $1.15 trillion. This is $318 billion more than the same period in 2024, a 38% increase, marking a record high for this period. At the same time, both revenues and expenditures reached record levels for the month, indicating a challenging financial situation.
Despite these records, net costs for financing the national debt of $36.2 trillion decreased slightly to $74 billion for the month. However, the total amount of net interest payments from the beginning of the year increased to $396 billion. The increase in the deficit is the result of rising financial burdens on the country in recent years.
During Joe Biden’s three years in office, the budget deficit grew from $1.38 trillion to $1.83 trillion. In response to these issues, Trump made improving the US financial situation one of his top priorities. His administration created the Department of Government Efficiency, led by Elon Musk. This department initiated layoffs in some government agencies and encouraged early retirement for some employees.
A Treasury representative noted that the efforts of DOGE (Department of Government Efficiency) have not yet shown significant results.
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