US Budget Deficit Narrows 7 Percent in May; Tariff Revenues Drop After Refunds
A view of a bus shelter at Pennsylvania Avenue and 22nd Street NW where an electronic billboard and a poster display the current U.S. National debt per person and as a nation at $38 trillion in Washington, D.C., on Oct. 28, 2025. Jemal Countess/Getty Images for the Peter G. Peterson Foundation The U.S. budget deficit