President Donald Trump’s first full quarter in the White House resulted in the lowest budget deficit in six years, says Treasury Secretary Scott Bessent.
In an Oct. 22 post on X, Bessent stated that the federal shortfall had declined in the second quarter of 2025 “when there was no overlap with the Biden administration.”
From April to September, the cumulative budget deficit was $468 billion—the lowest reading since 2019 and down almost 40 percent compared to the same time a year ago.
Bessent also criticized Democratic lawmakers over the government shutdown, now in its third week.
“Revenues are soaring and government spending is under control,” he said. “Democrats think they can undo the important progress the President has made by shutting down the government. But they will not succeed.”…