US fiscal strain: Deficit jumps to $284 billion despite record tariffs
The U.S. started the fiscal year with a $284 billion deficit in October, influenced by record tariff revenue and a shift in benefit payments. Despite a federal shutdown's minor impact, outlays rose 18% due to reclassified payments. Interest costs also climbed significantly, while tariff collections surged to a new high.
The U.S. started the fiscal year with a $284 billion deficit in October, influenced by record tariff revenue and a shift in benefit payments. Despite a federal shutdown's minor impact, outlays rose 18% due to reclassified payments. Interest costs also climbed significantly, while tariff collections surged to a new high.
