The U.S. budget deficit in July climbed 20% this fiscal year compared to the last despite the U.S. taking in record income from President Donald Trump’s tariffs, according to Treasury Department data ...

Learn how fiscal policies like government spending and tax changes impact budget deficits. Understand their influence on economic stability and growth.

Roughly a third of the revenue boom resulted from Trump’s unprecedented, near-universal tariffs on imports. Yet more than half of the revenue increase came from rising wages and realized capital gains ...