US federal budget deficit in May:
293 billion USD, an improvement vs. the 316 billion deficit in May last year.
By this point last fiscal year, the government had accumulated a 1,366 billion USD deficit. This year, it stands at 1,247 billion.
So the cushion vs. last fiscal year has widened to about 120 billion USD, up from roughly 100 billion in April.
Revenues up around 5% year‑on‑year while spending has only increased about 1% in the period
Despite the one‑off drag from tariff repayments, the deficit still improved by 20 billion USD vs. May 2025 and the year‑to‑date gap vs. FY 2025 widened in the government’s favor.
The US must reduce the deficit faster by cutting spending.
Graph via USA Facts