![Global Markets Investor](https://substackcdn.com/image/fetch/w_48,h_48,c_fill,f_auto,q_auto:good,fl_progressive:steep,g_auto/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fbc5e213a-dddb-43c1-a6ba-476441164ef0_256x256.png)
Discover more from Global Markets Investor
⚠️US budget deficit reached $711 billion in the first 3 months of the Fiscal Year 2025, a new record
The US government budget gap is at crisis levels
The US budget deficit reached $711 billion for the first 3 months of the Fiscal Year 2025 up 39% from the previous year. Total outlays rose to $1.1 trillion, way below total outlays of $1.8 billion.
Interest payments alone jumped to $242 billion accounting for a huge 22% of total government revenues.
In effect, the deficit reached $2.0 trillion for the full calendar year 2024, up by $248 billion from 2023.
Such a high budget gap has never been seen outside of wars or major economic crises.
To put this differently, the deficit is rising as if there is a recession.
You can find a comprehensive analysis of the US public debt in the below piece:
If you find it informative and helpful you may consider a paid subscription (or annual if subscribed), become a Founding Member, and follow me on Twitter or Nostr:
Why subscribe?