US fiscal strain: Deficit jumps to $284 billion despite record tariffs

November 26, 2025 Times of India, IFTTT No Comments

The U.S. started the fiscal year with a $284 billion deficit in October, influenced by record tariff revenue and a shift in benefit payments. Despite a federal shutdown's minor impact, outlays rose 18% due to reclassified payments. Interest costs also climbed significantly, while tariff collections surged to a new high.

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