Deficit Explosion: Washington Burns Through $1.6 Trillion in 10 Months — Even with Tariff Windfall

$1.6 Trillion in 10 Months — and Climbing The Congressional Budget Office just dropped its July update, and the numbers are a gut punch. In the first 10 months of fiscal year 2025, the U.S. federal government has racked up a $1.6 trillion deficit — that’s $109 billion more than last year, despite a tidal wave of new tariff revenue flooding into Washington. Revenue Is Up — Spending Is Out of Control Let’s be clear: this isn’t a revenue problem. Federal tax receipts are up $263 billion year-over-year. Customs duties — largely driven by the Trump administration’s ramped-up tariffs — have skyrocketed 112%, bringing in an extra $70 billion. That’s on top of a $214 billion jump in individual income…