WASHINGTON, DC –Today, the Joint Economic Committee released its Monthly Fiscal Update. In October, and thus far this fiscal year, the federal government ran a deficit of $284.350 billion. This means 41.29 percent of outlays were not paid for by revenues, and for every dollar the federal government received in revenue, it spent $1.70. In October 2024, total federal deficits were $257.450 billion, which means the total deficit in the current fiscal year to date period is 10.45 percent higher than in the same period last fiscal year. As of November 28, 2025, this fiscal year to date, the federal government has added $758.658 billion to the national debt, a rate which averages to $12.58 billion per day, and $8.93 million per minute.

In October, total federal net outlays were $688.72 billion and net receipts were $404.37 billion. In October 2024, total federal net outlays were $584.221 billion, which means the net outlays total in the current fiscal year to date period is 17.89 percent higher than in the same period last fiscal year. In October 2024, total federal net receipts were $326.770 billion, which means the net receipts total in the current fiscal year to date period is 23.75 percent higher than in the same period last fiscal year.

In total, the nation ended FY2025 with a $1.78 trillion deficit, $50 billion (2.8 percent) less than FY2024, and September ended with a $198 billion surplus.

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Please see the full Monthly Fiscal Update for greater detail of the nation's receipts, outlays and deficit.
Please see our Daily Debt Update for more information on the growing national debt.