You are here
U.S. runs biggest October budget deficit ever despite record tariff revenue
By Mike Maharrey
Money Metals Exchange, Eagle, Idaho
Sunday, November 30, 2025
The federal government took in a record amount of tariff revenue in October. It also ran the highest October budget deficit on record.
The Trump administration spent $284.35 billion more than it took in to kick off fiscal 2026. That was about 10% higher than last year's October deficit and about $200 million more than the previous October record set in 2020 during the pandemic lockdown era.
... Dispatch continues below ...
... ADVERTISEMENT ...
Guanajuato Silver Is Reactivating Silver and Gold Mines in Mexico
Guanajuato Silver is a precious metals producer reactivating past-producing silver and gold mines in central Mexico. The company produces silver and gold concentrates from the El Cubo Mines Complex, Valenciana Mines Complex, and the San Ignacio mine. All three mines are located within the state of Guanajuato, which has a 480-year mining history.
Additionally, the company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango state.
With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest growing silver producers in Mexico.
For more information, please visit:
The deficit was inflated by the shifting of some November benefit payments back into October. If we factor out those calendar effects, the deficit would have been $180 billion. While a 29 percent reduction from last year’s October deficit, it would still rank in the top four highest October shortfalls on record.
Keep in mind that Uncle Sam ran this massive deficit while the government was “closed.” A Treasury Department official told Reuters that it was unclear how much spending was reduced by the government shutdown, but estimated it was less than five percent of total outlays. ...
... For the remainder of the report:
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
Donations of $250 or more will entitle the donor to a 1-ounce silver round commemorating GATA's work:
https://www.gata.org/sites/default/files/GATA-silver-round-front.png
