12-Month Deficit Totals $1. 7 Trillion, Debt Approaches 100% of GDP The federal budget deficit totaled $1 74 trillion between November 2024 and October 2025 according to estimates from the Congressional Budget Office (CBO) The rolling deficit is $38 billion lower than the Fiscal Year (FY) 2025 deficit of $1 78 trillion CBO also estimated that deficits for FY 2025 totaled 5 9% of Gross Domestic Product (GDP) and debt reached 99 8% of GDP The deficit in
Deficit Tracker - Bipartisan Policy Center Each year’s deficit adds to the already enormous national debt, with interest costs driving further spending growth The annual deficit is the product of numerous cash flows into and out of the Treasury that reflect past choices by lawmakers
Understanding Deficits: Definition, Types, Risks, and Benefits A deficit is a financial situation where expenses exceed revenues, imports exceed exports, or liabilities exceed assets, often leading to increased debt for governments, companies, or individuals
US Federal Budget Deficit Definition | USAFacts A budget deficit occurs when a government’s annual spending (also called “outlays”) exceeds its annual revenue (“receipts”) In other words, the government spends more money than it collects through taxes and other income sources in a given fiscal year