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Latin Times
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Ann Resuma

US October Deficit Swells 287% To $257 Billion

Deficit United States Donald Trump the Treasury Department Elon Musk US Treasury
The US Treasury building in Washington, DC (Credit: Via Getty Images)

The U.S. budget deficit exponentially increased and reached around $257 billion in October, primarily due to one-off factors.

According to a report by the Treasury Department on Wednesday, the figure was a sharp increase of 287% from October 2023's $67 billion deficit. In October 2023, the deficit was cut nearly in half due to the calendar adjustments that were made in benefit payments.

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