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BREAKING: The US Treasury posted a $291 billion budget deficit in July, the 2nd-largest deficit for any July on record.
The gap marks a sharp reversal from June’s $27 billion budget surplus.
This comes as government spending surged +9.7% YoY to $630 billion, the 2nd-highest
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BREAKING: The US Treasury posted a $291 billion budget deficit in July, the 2nd-largest deficit for any July on record.
The gap marks a sharp reversal from June’s $27 billion budget surplus.
This comes as government spending surged +9.7% YoY to $630 billion, the 2nd-highest since January.
Meanwhile, revenue rose just +2.5% YoY to $338 billion, including $29.6 billion in tariff revenue.
The deficit is now up +7.4% YoY, to $1.63 trillion FYTD, putting this year on track for the 3rd-largest deficit in history.
The deficit spending crisis is worsening.
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