debt interest

US fiscal

2026-08-29 22:30:16

US Primary Budget Deficit Reached 3.3% of GDP in FY2024, Highest Among Developed Economies

The United States posted a primary budget deficit of 3.3% of GDP in fiscal 2024, the highest among advanced economies, according to CryptoBriefing. That measure excludes interest payments. Including interest costs, the total federal budget deficit reached $1.8 trillion, equal to 6.4% of GDP. The Congressional Budget Office projects the primary deficit ratio will remain between 3.1% and 3.6% over the long term. Structural spending pressures and rising debt-interest costs have kept the fiscal gap wide even during an economic expansion. The figures highlight a persistent imbalance in U.S. federal budgeting, with the primary deficit staying elevated well beyond a typical downturn path. The report was relayed by Techub News.

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US Treasury

2026-08-13 00:27:53

US July Budget Deficit Hits Record $432B as Interest Costs Top $1T

The U.S. Treasury reported on Wednesday that the federal budget deficit reached $432 billion in July, the largest amount on record for that month. The shortfall was driven mainly by a sharp increase in federal Medicare spending and by rising interest costs on public debt. Interest payments on the federal debt have now exceeded $1 trillion for the current fiscal year. Over the first ten months of fiscal 2026, the cumulative deficit totaled $1.8 trillion. On a calendar-adjusted basis, the deficit was 5% larger than in the same period of fiscal 2025, a sign that government borrowing needs continue to climb. Federal spending has been expanding at a faster clip while revenue has declined, leaving the government's fiscal position under strain. Tariff refunds are making the situation worse. The Supreme Court ruled that most of President Trump's tariff increases were invalid, and the refunds tied to that ruling are still being processed, weighing on revenue and adding to deficit pressure.

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