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For fairness, I’m not sure that’s correct
After running a surplus in April, as is standard during tax season, the government returned to running a monthly deficit in May. This month’s deficit was $314 billion—15% lower than last May after adjusting for timing effects.
- The government is running a cumulative deficit of $710 billion so far in FY2025— $200 billion more than the same period in the prior fiscal year.
