United States Government Budget Value

The US government reported a budget deficit of $129 billion in January, a sharp increase from the previous year's unusually low $22 billion shortfall. This figure also exceeded the forecasted deficit of $88.1 billion, largely driven by calendar shifts in benefit payments, alongside rising expenditures on Social Security, Medicare, and interest costs. The Treasury noted that January receipts rose 8% year-over-year to $513 billion, but outlays climbed at a much faster pace, increasing 29% to $642 billion. Adjusting for calendar shifts, the deficit for January would have been a more modest $21 billion. Meanwhile, the fiscal year-to-date deficit reached a record $840 billion for the first four months of 2025, marking a 58% increase from the prior year. This jump was partially attributed to inflated tax receipts in the previous fiscal year due to deferred payments. Both receipts and outlays for the first four months hit record highs, highlighting the growing fiscal strain on the government.