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us-deficit-grows-to-$291-billion-in-july-despite-record-tariff-revenues
US Deficit Grows to $291 Billion in July Despite Record Tariff Revenues

US Deficit Grows to $291 Billion in July Despite Record Tariff Revenues

Last updated: August 13, 2025 6:48 am
By Tom Ozimek
1 Min Read
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US Deficit Grows to $291 Billion in July Despite Record Tariff Revenues

The U.S. flag flies in a shipyard at the Port of Long Beach, Calif., on Sept. 29, 2018. Mark Ralston/AFP/Getty Images

The U.S. budget deficit widened in July, climbing to $291 billion even as the government collected an unprecedented amount from tariffs, according to Treasury Department data released on Aug. 12.

The shortfall—up from $244 billion a year earlier—came as federal spending rose at a much faster pace than revenues. Outlays for the month hit $630 billion, a record high for July, reflecting higher interest costs on the national debt and increased spending across a range of programs.

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