The amount of money the government is taking in is outstripped by federal outlays. Fixing this won't be easy, especially in this political environment, Jon Talton writes.

New data from the Treasury Department shows the federal deficit is $318 billion larger in the first five months of fiscal year 2025 compared with the last fiscal year.

The U.S. budget deficit for the first five months of fiscal 2025 hit a record $1.147 trillion, the Treasury Department said on Wednesday, including a $307 billion February deficit for President Donald Trump's first full month in office that was up 4% from a year earlier.

WASHINGTON >> The U.S. budget deficit for the first five months of fiscal 2025 hit a record $1.147 trillion, the Treasury Department said today, including a $307 billion February deficit for President Donald Trump’s first full month in office that was up 4% from a year earlier.