The U.S. budget deficit jumped nearly four-fold to $257 billion in October, a figure inflated by one-off factors, the Treasury Department said on Wednesday in a report that started off a new fiscal year with a big hole to be turned over to President-elect Donald Trump in January.

The Federal Government ran a $1.8T budget deficit for the fiscal year, with a $560B deficit in the last quarter alone.

No one wants to talk about the $1.8 Billion federal budget deficit. But, as Marc Goldwein of the Committee for a Responsible Budget warns, the interest costs alone to serve that debt are approaching 17% of government spending,

The U.S. budget deficit exponentially increased and reached around $257 billion in October, primarily due to one-off factors. According to a report by the Treasury Department released on Wednesday, the figure was a sharp increase of 287% from October 2023's $67 billion deficit.

The U.S. federal government spent $257.0B more than it earned in October, compared with the $226.4B deficit expected and September's $64.0B shortfall, according to the Treasury Department's statement issued on Wednesday.