The US budget deficit narrowed slightly in fiscal year 2025, driven by record revenue from tariffs, although borrowing remains at a historically high rate, despite the economy expanding and financial stability.
According to US Treasury Department data released Thursday, the deficit in fiscal year 2025 was approximately $1.78 trillion, compared to $1.82 trillion in 2024, a 2% decrease. This figure is largely in line with the Congressional Budget Office's estimates released last week
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The US budget deficit narrowed slightly in fiscal year 2025, driven by record revenue from tariffs,...
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