Economic Buzz: US budget deficit hits highest monthly level since March 2021

The United States budget deficit reached $432.3 billion in July, growing by 48% compared to the corresponding month last year, the Treasury Department revealed in a report on Wednesday, marking the highest monthly level since 2021.

The report showed that Medicare spending reached $174 billion in July, bringing the total for fiscal 2026 to $955 billion and making it the largest monthly expenditure. Social Security spending followed at $141 billion, while net interest on the national debt totaled $104 billion.

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