While 2024 was a record revenue year, it was also a record spending year; spending is growing faster. Read more here.

As congressional Republicans struggle to keep deficits in check while extending their sweeping 2017 tax cuts, the ...

I think if we try for $2 trillion, we’ve got a good shot at getting 1 [trillion],” Musk said in a January interview.

The numbers: The U.S. federal budget deficit widened to a record $711 billion in the first three months of the fiscal year, up from $510 billion in the same period last year, an increase of 39% ...

Even if those tax breaks are allowed to lapse at year’s end, the federal budget deficit will still ... economy is relatively low compared to its historical average, Swagel said.