US Budget Deficit Widens To $1.8 Tn, Third Highest On Record

The US Treasury Department said the budget deficit rose in fiscal year 2024, hitting the third-largest on record. (Credit: AFP)

The United States on Friday reported a budget deficit of $1.8 trillion for the past year, widening from 2023's level on greater spending, including for interest on the public debt.

The overall deficit expanded by $138 billion for the year ending September 30, said the Treasury Department. The nation's debt remains a key concern for voters ahead of November's presidential election.