The U.S. budget deficit for the first five months of fiscal 2025 hit a record $1.147 trillion, the Treasury Department said on Wednesday, including a $307 billion February deficit for President Donald Trump's first full month in office that was up 4% from a year earlier.

New data from the Treasury Department shows the federal deficit is $318 billion larger in the first five months of fiscal year 2025 compared with the last fiscal year.

The deficit for the first five months of fiscal 2025 came to $1.147 trillion, up 38%, or $318 billion, from a year earlier.

WASHINGTON >> The U.S. budget deficit for the first five months of fiscal 2025 hit a record $1.147 trillion, the Treasury Department said today, including a $307 billion February deficit for President Donald Trump’s first full month in office that was up 4% from a year earlier.

Data disclosed by the Treasury Department showed an adjusted gap between federal spending and revenue of $1.063 trillion for October through February.