US Budget Deficit Hits $1.9 Trillion—With 1 Month Left to Go

Interest charges continue to be a sizable strain on the federal budget.

The national debt clock at a bus station in Washington on Aug. 6, 2024. Madalina Vasiliu/The Epoch Times

The U.S. budget deficit surged to $1.9 trillion in August, with one month left until the end of the fiscal year, fueled by burdensome interest charges.

According to the Monthly Treasury Statement, the federal government registered a $380 billion deficit in August, the widest monthly shortfall since September 2022. This starkly contrasts with the $89 billion surplus reported in August 2023 and is in line with the latest Monthly Budget Review from the Congressional Budget Office (CBO).