US budget deficit at record level in November

The United States government deficit increased more than 16% year-over-year (YoY) in the second month of the fiscal year ending September 2025, marking the widest gap between revenues and expenditures for a November on record.

The Treasury Department data showed that the deficit reached $366.8 billion, up from a deficit of $257.5 billion in October and exceeding estimated deficit of $349 billion.

This came as expenditure increased by nearly 13.5%, or $79.7 billion, YoY to $668.5 billion in November. Revenue rose 9.8%, or $27 billion, YoY to $301.8 billion.

Net interest payments from the US government stood at approximately $79 billion in November, bringing the accumulated expenditure up to nearly $160 billion FY-to-date.