
US Budget Deficit Narrows to $316 Billion in May Amid Rising Tariff Revenue
The US budget deficit for May 2023 reached over $316 billion, increasing the year-to-date shortfall to $1.36 trillion, driven mainly by rising interest costs on the national debt, despite higher tax revenues and tariff collections. The deficit is now over 6% of GDP, raising concerns about fiscal sustainability amid warnings from financial leaders.








