US Budget Gap Widens 16% in First Four Months of Fiscal Year

The US budget deficit widened in the four months through January, as debt-servicing costs climbed further.

The deficit for the first four months of the 2024 fiscal year reached $532 billion, or 16% more than recorded in the same period in the prior year, Treasury Department data released Monday showed. Interest costs in the four months through January were $357 billion, a 37% jump from 2023.