Treasury: $1.1 Trillion Deficit in First Five Months of Fiscal Year 2025

The United States borrowed $1.1 trillion in the first five months of fiscal year 2025, including $307 billion in February, according to the latest Monthly Treasury Statement from the Treasury Department.

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

The Treasury Department confirmed today that we have borrowed a total of $1.1 trillion in the first five months of the fiscal year – or nearly $8 billion a day. What needs no confirmation is that we are almost halfway through the fiscal year and yet we have done nothing in the way of making progress toward getting our skyrocketing debt under control.  

Despite our debt approaching a record share of the economy and interest payments on track to exceed our defense spending – totaling $396 billion to date this year, and on track to reach $952 billion – we are not doing anything to change course. Lawmakers should use these numbers as a wakeup call on the reality of our unsustainable fiscal situation and get to work on putting in place a comprehensive plan to stabilize and bring our debt down to sustainable levels. For the sake of our economy and national security, the time to act is now. 

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