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U.S. Budget Deficit Reaches $432 Billion in July as National Debt Nears $40 Trillion
The federal budget deficit reached its highest level since early 2021 last month. Total spending and tariff refunds drove the monthly deficit to $432 billion. This surge comes as the total national debt approaches the $40 trillion mark. Newsweek reported that the Department of Government Efficiency has failed to curb the worsening fiscal situation. Political reactions to the data remain divided. Some observers argue that Congress must reject any further increases in federal spending given the scale of the shortfall. Critics of the current fiscal trajectory attribute the rising costs to Republican tax policies and military expenditures. U.S. budget deficit surged in July to highest level since March 2021Republicans are wasting your hard-earned money and driving up the bill.DOGE failed: America's budget deficit problem is getting worse
