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The U.S. budget deficit this fiscal year has reached $1.1 trillion, and taxes in February were less than half of expenditures.

Online reports that the latest data from the U.S. Treasury Department showed that Elon Musk's aggressive efficiency efforts failed to prevent the U.S. federal government's spending from rising to a record $603 billion last month, compared with its tax revenue of only $296 billion, highlighting the Trump administration's difficulty in significantly reducing the size of the government. That led to a $307 billion budget deficit for the month, which means the U.S. government's tax revenue in February was less than the deficit. In other words, U.S. spending in February was more than twice its income. This also means that the deficit in February this year was close to a record high. Only the impact after the epidemic in 2021 was greater and pushed the cumulative total deficit in 2025 to US$1.147 trillion, accounting for 38% of total U.S. fiscal year 2025 expenditures.

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