Federal budget deficit hits record $1.1T in first 5 months of fiscal year
1. Federal budget deficit surged to $1.146 trillion in FY2025 so far. 2. February's deficit reached $307 billion, significantly up from January's $128 billion. 3. Federal spending rose 13%, while tax receipts increased by only 2%. 4. Mandatory programs like Social Security, Medicare, and Medicaid saw sizable spending hikes. 5. CBO estimates a $1.9 trillion deficit for FY2025, matching last year's projection.