A post by @KobeissiLetter on X.
BREAKING: The US Treasury posted a -$404 billion budget deficit in October, the largest October deficit in history.
@KobeissiLetter on X
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The US Treasury recorded a $404 billion budget deficit in October, the largest October shortfall on record, according to The Kobeissi Letter. The figure marks a $120 billion year-over-year increase and a $337 billion surge from October 2024. Government outlays rose $84 billion year-over-year to $773 billion, driving the deterioration. The record deficit matters because it underscores persistent fiscal strain from rising federal spending, a dynamic that can influence Treasury issuance, bond yields and broader macro sentiment. Watch next for upcoming monthly Treasury statements and outlay trends to see whether October's jump reflects a one-off or a sustained widening of the deficit.
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Named in this story
US Treasury, Kobeissi Letter