Posted on 10/16/2025 4:47:44 PM PDT by yesthatjallen
The U.S. budget deficit edged lower for 2025 as record-setting tariff collections helped offset what also were unprecedented numbers for payments on the spiraling national debt, the Treasury Department announced Thursday.
In a year marked by a bruising trade war and high financing costs, the federal government managed to escape with a $1.78 trillion shortfall, some $41 billion, or 2.2%, less than in fiscal 2024.
While that’s still on the high end historically, the red ink would have been still worse had it not been for a massive surge in customs duties and a September surplus of $198 billion that also set a record for the month.
President Donald Trump’s tariffs were a major contributor to tariff collections of $202 billion for the year, representing a 142% surge from 2024. September saw $30 billion in tariff payments, up 295% from the same period a year ago.
SNIP
(Excerpt) Read more at cnbc.com ...
Our great President demonstrates winning with class.
$1.78 Trillion is still a long way to go.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.