The U.S. budget deficit has grown to more than $1.3 trillion in the first half of the 2025 fiscal year — the second highest six-month deficit on record, according to Treasury Department data released Thursday.
The deficit for October through March spans the administrations of President Joe Biden and President Donald Trump. The previous high in the four decades of recordkeeping was $1.7 trillion in the first half of fiscal year 2021, when the government was tackling the COVID-19 pandemic.
