The U.S. federal government's annual budget deficit has widened by $109 billion so far this fiscal year despite an influx of tariff revenue to the government's coffers.The nonpartisan Congressional Budget Office (CBO) on Friday released its monthly budget update for July, which found that the federal budget deficit totaled $1.6 trillion in the first 10 months of fiscal year 2025. That figure is $109 billion higher than it was for the same period in FY2024.Overall, federal tax receipts were up $263 billion, or 6%, while spending outpaced that gain, rising by $372 billion, or 7%, in the first 10...

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