CBO Estimates $1.1 Trillion Deficit for First Five Months of FY 2025

The United States borrowed $1.1 trillion in the first five months of Fiscal Year (FY) 2025, including $308 billion in the month of February, according to the latest Monthly Budget Review from the Congressional Budget Office.

The following is a statement from Maya MacGuineas, president of the Committee for a Responsible Federal Budget:

This month’s projections are a stark reminder of our nation’s increasingly dangerous fiscal situation. We are only five months into the fiscal year and have already borrowed $1.1 trillion, including $308 billion just from the month of February. We’re on track to borrow nearly $2 trillion this fiscal year, with interest payments being the fastest growing budget line item. 

Absent a change in course, our country will surpass its historic World War II era record level of debt in just four years. It is well past time for policymakers to come together and put in place a plan to get our debt under control. Borrowing $8 billion a day is clearly unsustainable, and continuing down this path undoubtedly threatens our economy, our national security, and the well-being of future generations.

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For more information, please contact Matt Klucher, Assistant Director of Media Relations, at klucher@crfb.org.