> October: Trump SMASHES all time record Federal budget deficit! Drives America $414 billion dollars deeper into debt in one month.Previous | First | 1 | Last | Next
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October: Trump SMASHES all time record Federal budget deficit! Drives America $414 billion dollars deeper into debt in one month.
WASHINGTON, Nov 12 (Reuters) - The US government started the 2027 fiscal year with a $404 billion budget deficit for October, a record for the month and an increase of $120 billion or 42% from the year-earlier period, as receipts shrank and outlays grew sharply, the Treasury Department said on Thursday.
The record October deficit marks another fiscal setback for Treasury Secretary Scott Bessent…. Bessent has set a goal to reduce the deficit to 3% of US GDP, but the 2026 budget gap was estimated at 6.2% of GDP, up from 5.8% for fiscal 2025.
October 2026 receipts fell by $35 billion, or 9%, to $369 billion, due partly to a 39% drop in net customs collections to $19.2 billion from $31.3 billion in October 2025, when President Donald Trump's global tariff revenues reached their peak.
October individual non-withheld tax receipts fell by $29 billion, or 36%, to $51 billion from the year ago period…
https://www.reuters.com/business/us-sta … 026-11-12/
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Re: October: Trump SMASHES all time record Federal budget deficit! Drives America $414 billion dollars deeper into debt in one month.
Here’s the money shot… in October the government paid $115 billion in interest on the debt.
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SpankyRe: October: Trump SMASHES all time record Federal budget deficit! Drives America $414 billion dollars deeper into debt in one month.
That's pretty bad because October often has a pretty decent influx of revenue due to tax extensions expiring and corresponding late tax payments coming in.
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Re: October: Trump SMASHES all time record Federal budget deficit! Drives America $414 billion dollars deeper into debt in one month.
Ballrooms, Trump Arches, and golf courses aren't cheap!
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Re: October: Trump SMASHES all time record Federal budget deficit! Drives America $414 billion dollars deeper into debt in one month.
Did I tell you about the time I bankrupted casinos?
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SpankyRe: October: Trump SMASHES all time record Federal budget deficit! Drives America $414 billion dollars deeper into debt in one month.
wrote:
It's really quite astonishing that this happened.
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