Deficit Surges to Record Levels | Spokane News

The federal budget deficit is soaring to record levels, hitting $1.97 trillion in the first 11 months of the fiscal year—nearly matching post-WWII highs. While spending and revenues both rose 3%, the biggest driver is a $1 trillion interest bill on the national debt, now exceeding defense spending. Rising rates, aging retirees straining Social Security and Medicare, and recent tariff refunds are fueling the crisis. With the CBO warning debt could hit a new all-time high by 2030—and no signs of spending cuts on the horizon—America’s fiscal future looks alarmingly unsustainable. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/d306c49193f6afa8