BREAKING: The US budget deficit dropped $76 billion year-over-year in March, to $161 billion, the lowest in 5 years.
This comes as total government receipts increased 11% to $368 billion while spending declined 7% to $528 billion, per ZeroHedge.
This was a significant improvement from a $307 billion budget gap seen in February, the second-largest in history.
For the first 6 months of the Fiscal Year 2025, the total deficit now stands at $1.3 trillion, the second-highest on record.
Only 2021 saw a higher 6-month deficit of $1.7 trillion in the recovery from the pandemic.
Is government spending finally slowing?
