Monthly Treasury Statement
U.S. Department of the TreasuryNOV 27
US Budget Deficit Hits $284B in October
Is Trump delivering unprecedented fiscal responsibility, or creating the worst deficit crisis in American history?
Above: The U.S. Treasury building in Washington, D.C., U.S., on Aug. 5, 2025. Image credit: Al Drago/Bloomberg/Getty Images
The Spin
Republican narrative
Trump’s fiscal agenda will deliver unprecedented budgetary responsibility, with a $4 trillion reduction in the deficit over the next decade. By eliminating $1.5 trillion in government waste and generating $3.3 trillion in new revenue through America First policies, the Republicans will restore economic confidence and secure America’s financial stability.
Democratic narrative
October’s $284 billion deficit marks the worst start of a fiscal year in U.S. history, exposing Trump’s dangerous economic plans. His One Big Beautiful Bill will disastrously add $3.4 trillion to deficits through 2034, pushing debt to a catastrophic 126% of GDP. America’s reliance on foreign creditors makes this fiscal recklessness a national security threat.
Metaculus Prediction
Political split
LEFT
RIGHT
© 2025 Improve the News Foundation. All rights reserved.Version 6.18.0
© 2025 Improve the News Foundation.
All rights reserved.
Version 6.18.0