The U.S. government reported a significant budget deficit of $145 billion for December 2025. This amount is up 67% from the previous year, largely due to increased spending influenced by changes in when benefit payments were made.
A notable point from the report is that revenue from customs duties, arising from the tariffs implemented during Donald Trump’s presidency, seems to have reached a plateau. December’s customs receipts fell to $27.9 billion, down from the low $30 billion range observed in previous months, but still significantly higher than the $6.8 billion from December 2024.
Looking at the bigger picture, the total customs revenue for the first three months of fiscal 2026—starting on October 1, 2025—was $90 billion. This is a remarkable increase compared to $20.8 billion during the same period last year.
Interestingly, adjusting for the timing of payments, the deficit could have been closer to $112 billion—about 11% less than in December 2024. Some of the benefit payments scheduled for early January were moved to December because of the weekend start of the new year.
As a broader context, the first three months of this fiscal year also revealed a total deficit of $602 billion. This figure is a $109 billion reduction, or about 15%, from the same time frame a year earlier, indicating possible improvements in overall revenue despite the highlighted challenges.
Understanding these shifts is important, especially as economists continue to analyze fiscal policy and its impacts on the economy. Insights from experts suggest that careful monitoring and strategic adaptations in government spending and revenue collection could help address the growing deficits in the coming years.
For more detailed insights, check official reports from the U.S. Treasury Department.
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Treasury Department, budget deficit, President Donald Trump, outlays, record receipts, benefit payments
