Silver Rises Over 120% YTD 
Published: 04-11-2025, 10:15 am | Updated: 04-11-2025, 09:33 am
According to Treasury Department data released Thursday, the US budget deficit has grown to more than $1.3 trillion during the first six months of the 2025 fiscal year, spanning October through March. This marks the second highest six-month deficit in the four decades of record-keeping, surpassed only by the $1.7 trillion deficit recorded in early fiscal year 2021 during the COVID-19 pandemic.
A Treasury official speaking on condition of anonymity explained several factors driving this increased gap between government spending and revenue. These include cost-of-living increases to Social Security payments, rising costs for Medicare and Medicaid programs, increased disaster assistance funding for the Federal Emergency Management Agency, and higher Defense Department expenditures.
The growing deficit comes at a notable time, as the Trump administration has recently established the Department of Government Efficiency (DOGE), led by Elon Musk, specifically tasked with identifying and eliminating waste and unnecessary spending throughout the federal government.
