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https://www.reuters.com/world/us/us-government-spending-has-not-slowed-under-trump-so-far-data-shows-2025-02-26/
The U.S. government spent more during President Donald Trump's first month in office than it did during the same period a year ago, in a sign his cost-slashing effort has yet to reduce the nation's heavy fiscal obligations, a Reuters analysis of federal data shows.
Trump has frozen billions of dollars in foreign aid and fired more than 20,000 federal workers since he returned to power last month. His budget-cutting point person, tech billionaire Elon Musk, claims to have saved tens of billions of dollars.
But any savings have been outweighed so far by higher spending on health and retirement programs and rising interest payments, Treasury Department spending records show.
Overall, the government spent about $710 billion between Jan. 21 and Feb. 20, Treasury daily spending data shows, up from the roughly $630 billion during a comparable period last year.
Independent budget experts said the figures illustrate the relentless pressures incurred by an aging population and a ballooning debt load.
"Our $7 trillion budget is driven by structural imbalances because we've over-promised in our retirement and health care programs compared to what we're taking in," said Maya MacGuineas, president of the Committee for a Responsible Federal Budget. "We've borrowed in good times and bad times, which has led to record debt levels."
In the month since Republican Donald Trump returned to the White House on Jan 20, overall federal spending is higher than during the same period a year earlier under former President Joe Biden, a Democrat.
The White House said Musk's Department of Government Efficiency is following through on Trump's promise to cut wasteful and fraudulent spending.
The U.S. government spent more during President Donald Trump's first month in office than it did during the same period a year ago, in a sign his cost-slashing effort has yet to reduce the nation's heavy fiscal obligations, a Reuters analysis of federal data shows.
Trump has frozen billions of dollars in foreign aid and fired more than 20,000 federal workers since he returned to power last month. His budget-cutting point person, tech billionaire Elon Musk, claims to have saved tens of billions of dollars.
But any savings have been outweighed so far by higher spending on health and retirement programs and rising interest payments, Treasury Department spending records show.
Overall, the government spent about $710 billion between Jan. 21 and Feb. 20, Treasury daily spending data shows, up from the roughly $630 billion during a comparable period last year.
Independent budget experts said the figures illustrate the relentless pressures incurred by an aging population and a ballooning debt load.
"Our $7 trillion budget is driven by structural imbalances because we've over-promised in our retirement and health care programs compared to what we're taking in," said Maya MacGuineas, president of the Committee for a Responsible Federal Budget. "We've borrowed in good times and bad times, which has led to record debt levels."
In the month since Republican Donald Trump returned to the White House on Jan 20, overall federal spending is higher than during the same period a year earlier under former President Joe Biden, a Democrat.
The White House said Musk's Department of Government Efficiency is following through on Trump's promise to cut wasteful and fraudulent spending.
