US July Budget Deficit Up 20% Year-Pver-Year Despite Record Trump Tariff Income

[0311]

WASHINGTON (AP) — The U.S. budget deficit in July climbed 20% this fiscal year compared to the last despite the U.S. taking in record income from President Donald Trump’s tariffs, according to Treasury Department data released Tuesday.

US July budget deficit up 20% year-over-year despite record Trump tariff income

The U.S. has seen a record increase in tariff income, with a 273% rise in customs revenue from last year.

apnews.com

The U.S. saw a 273% increase — or $21 billion — in customs revenue in July over the same period last year, the data showed.

A Treasury official who spoke on the condition of anonymity to preview the data said overall increased spending is in part due to a mix of expenditures, including growing interest payments on the public debt and cost-of-living increases to Social Security payouts, among other costs. This comes as the federal government’s gross national debt creeps up to the $37 trillion mark.

Nobel winning economists warned this would happen. Trump ignored the warning. The U.S. Economy pays the price.

 

[1srelluc]

A Treasury official who spoke on the condition of anonymity.....

I don't believe you nor the AP.

 

[Darkwind]

What the OP and the cowardly anon source fail to state is that without that $21 billion dollars in July, the problem would be much, much worse.

 

[Concerned American]

WASHINGTON (AP) — The U.S. budget deficit in July climbed 20% this fiscal year compared to the last despite the U.S. taking in record income from President Donald Trump’s tariffs, according to Treasury Department data released Tuesday.

US July budget deficit up 20% year-over-year despite record Trump tariff income

The U.S. has seen a record increase in tariff income, with a 273% rise in customs revenue from last year.

apnews.com

The U.S. saw a 273% increase — or $21 billion — in customs revenue in July over the same period last year, the data showed.

A Treasury official who spoke on the condition of anonymity to preview the data said overall increased spending is in part due to a mix of expenditures, including growing interest payments on the public debt and cost-of-living increases to Social Security payouts, among other costs. This comes as the federal government’s gross national debt creeps up to the $37 trillion mark.

Nobel winning economists warned this would happen. Trump ignored the warning. The U.S. Economy pays the price.

Thank you. We are currently operating under the Biden admin's budget. Educate yourself.

https://www.whitehouse.gov/wp-content/uploads/2024/03/budget_fy2025.pdf

 

[Concerned American]

What the OP and the cowardly anon source fail to state is that without that $21 billion dollars in July, the problem would be much, much worse.

LOL, The OP doesn't realize we are operating under Biden's final budget.

 

[g5000]

WASHINGTON (AP) — The U.S. budget deficit in July climbed 20% this fiscal year compared to the last despite the U.S. taking in record income from President Donald Trump’s tariffs, according to Treasury Department data released Tuesday.

US July budget deficit up 20% year-over-year despite record Trump tariff income

The U.S. has seen a record increase in tariff income, with a 273% rise in customs revenue from last year.

apnews.com

The U.S. saw a 273% increase — or $21 billion — in customs revenue in July over the same period last year, the data showed.

A Treasury official who spoke on the condition of anonymity to preview the data said overall increased spending is in part due to a mix of expenditures, including growing interest payments on the public debt and cost-of-living increases to Social Security payouts, among other costs. This comes as the federal government’s gross national debt creeps up to the $37 trillion mark.

Nobel winning economists warned this would happen. Trump ignored the warning. The U.S. Economy pays the price.

Listen. Here's what you need to understand.

In June, when there was a tiny surplus, all credit went to Trump. The MAGA cult could not stop praising his awesomeness for that itsy bitsy surplus.

For July, with the deficit being over ten times greater than June's surplus? That's Biden's fault.

You might think I'm joking, but that is literally how the MAGA cult hivemind works.

.

 

[theHawk]

Nobel winning economists warned this would happen. Trump ignored the warning. The U.S. Economy pays the price

What warning? They claimed the tariffs would destroy the economy, even though other countries use them just fine.

They brought in record revenue…so he was proven correct.

The current government spending is still from last year. The fiscal year ends Sept 30th. Mandatory spending from the last budget is still being spent.

How about stop divorcing yourself from reality.

 

[g5000]

LOL, The OP doesn't realize we are operating under Biden's final budget.

TA-DAAAAAAA!

You are the true Never Trumpers. Nothing is ever Trump's fault.

This Biden budgt talking point has to be what your propagandists are telling you, because the other members of your cult have been parroting the exact same talking point.

None of you think for yourselves, because you obviously have not been informed that the BBB spending is already underway.

That would be TRUMP'S budget.

So...nice try.

.

 

[theHawk]

Listen. Here's what you need to understand.

In June, when there was a tiny surplus, all credit went to Trump. The MAGA cult could not stop praising his awesomeness for that itsy bitsy surplus.

For July, with the deficit being over ten times greater than June's surplus? That's Biden's fault.

You might think I'm joking, but that is literally how the MAGA cult hivemind works.

.

President Trump can’t change what Congress has already passed to spend.

He has affected revenue through his tariffs though.

Maybe he just needs to raise more through tariffs.

 

[candycorn]

WASHINGTON (AP) — The U.S. budget deficit in July climbed 20% this fiscal year compared to the last despite the U.S. taking in record income from President Donald Trump’s tariffs, according to Treasury Department data released Tuesday.

US July budget deficit up 20% year-over-year despite record Trump tariff income

The U.S. has seen a record increase in tariff income, with a 273% rise in customs revenue from last year.

apnews.com

The U.S. saw a 273% increase — or $21 billion — in customs revenue in July over the same period last year, the data showed.

A Treasury official who spoke on the condition of anonymity to preview the data said overall increased spending is in part due to a mix of expenditures, including growing interest payments on the public debt and cost-of-living increases to Social Security payouts, among other costs. This comes as the federal government’s gross national debt creeps up to the $37 trillion mark.

Nobel winning economists warned this would happen. Trump ignored the warning. The U.S. Economy pays the price.

Implementing matial law is expensive...

 

[theHawk]

TA-DAAAAAAA!

You are the true Never Trumpers. Nothing is ever Trump's fault.

This Biden budgt talking point has to be what your propagandists are telling you, because the other members of your cult have been parroting the exact same talking point.

None of you think for yourselves, because you obviously have not been informed that the BBB spending is already underway.

That would be TRUMP'S budget.

So...nice try.

.

Funny, when President Trump moves to stop the previous spending, like funding USAIDS, you lefties scream like hell.

Now you’re claiming it’s his fault he didn’t stop more spending.

You people are such hypocrites.

 

[candycorn]

A Treasury official who spoke on the condition of anonymity.....

I don't believe you nor the AP.

Thats nice. Now go patrol your imaginary AO kid.

 

[Meister]

TA-DAAAAAAA!

You are the true Never Trumpers. Nothing is ever Trump's fault.

This Biden budgt talking point has to be what your propagandists are telling you, because the other members of your cult have been parroting the exact same talking point.

None of you think for yourselves, because you obviously have not been informed that the BBB spending is already underway.

That would be TRUMP'S budget.

So...nice try.

.

What your saying is that Biden's budget just vanished.
Got it.

 

[g5000]

What warning? They claimed the tariffs would destroy the economy, even though other countries use them just fine.

They brought in record revenue…so he was proven correct.

The impact of Trump's massive tax increase on the middle class has not yet worked its way through the economy.

It is starting to, but not fully yet.

And, yes, that is exactly what his record tariffs are. They are a tax on American importers, 97 percent of whom are small businesses.

And if you think those tax hikes won't be passed on to you in the cost of your clothing and other imported articles, then you are even dumber than I have thought up to this point.

The current government spending is still from last year.

Wrong. Trump's Big Beautiful Bill spending is already underway. It has been for some time now.

How funny you didn't notice he's been bragging about all the BBB spending he is doing.

Huh!

You cows really are selective with your attention!

Stop divorcing yourself from reality.

.

 

[g5000]

What your saying is that Biden's budget just vanished.
Got it.

Nope. That is not what I said.

Nice try.

.

 

[candycorn]

President Trump can’t change what Congress has already passed to spend.

He has affected revenue through his tariffs though.

Maybe he just needs to raise more through tariffs.

He just signed a bill into law that adds trillions more to the national debt.

 

[g5000]

This time next year, when Trump's monthly deficits continue, I can't wait to see how the cult will find ways to still blame Biden.

They will be hoping and praying I will have forgotten their bullshit excuses by then.

But I won't.

.

 

[theHawk]

The impact of Trump's massive tax increase on the middle class has not yet worked its way through the economy.

There is no tax increase on the middle class.

The bill just made Overtime and tips totally tax free.

Once again, you are LYING.

 

[candycorn]

There is no tax increase on the middle class.

The bill just made Overtime and tips totally tax free.

Once again, you are LYING.

Only if the waiter or waitress itemizes will they get a tax rebate (taxes will still be removed from their paycheck).

Tariffs are a tax on consumers--the middle class.

 

[candycorn]

This time next year, when Trump's monthly deficits continue, I can't wait to see how the cult will find ways to still blame Biden.

They will be hoping and praying I will have forgotten their bullshit excuses by then.

But I won't.

.

It’ll be Biden’s economy at that point.