Federal budget deficit hits $291 billion in July, $1.6 trillion for the year so far

"Aug 12 (Reuters) – The U.S. government's budget deficit grew nearly 20% in July to $291 billion despite a nearly $21 billion jump in customs duty collections from President Donald Trump's tariffs, with outlays growing faster than receipts, the Treasury Department said on Tuesday.

"The deficit for July was up 19%, or $47 billion, from July 2024. Receipts for the month grew 2%, or $8 billion, to $338 billion, while outlays jumped 10%, or $56 billion, to $630 billion, a record high for the month."

Once upon a time, Republicans preached the gospel of fiscal conservatism. Now, with the economy going all to hell, they're all in with worst-president-ever Donald Trump's devil may care approach. My, how easily their right-wing righteousness morphed under the influence of an accomplished con man and liar.

More details here.