U.S. Budget Deficit Widens Despite Surge in Tariff Revenue
Despite a record influx of tariff revenues totaling $29 billion in July, the U.S. budget deficit has grown significantly, reaching $291 billion. This marks a 20% increase compared to the previous year, raising concerns about the sustainability of revenue generated from tariffs. Analysts note that while tariffs are generating substantial income—estimated to be around $50 billion monthly—the overall deficit continues to rise. Critics argue that reliance on tariff revenue may not be a viable long-term solution for the national debt, especially as economic pressures mount.
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