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Tariffs Are Way Up. Interest on Debt Tops $1 Trillion. And DOGE Didn't Do Much

Control of the White House changed in fiscal year 2025, but the U.S. budget picture didn't. It remains grim. Despite a historic rise in tariff revenue, the deficit was the same in the year ended Sept. 30, 2025, as the previous year. That is largely because the main drivers of spending kept rising: social programs, including Social Security and Medicare, and interest on the public debt, which topped $1 trillion by one measure for the first time.

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