July Deficit Jumps 48% to $432B, Pushing 10-Month Red Ink Near $1.8T
The Treasury reported a $432.3 billion deficit in July, a 48% jump from a year ago and the biggest monthly shortfall since March 2021. That pushes cumulative red‑ink for the fiscal year’s first ten months to almost $1.8 trillion, outpacing the same period in 2025 and highlighting soaring Medicare costs.