Where this was said
Federal Deficit Tops $1.3 Trillion; Tariff Refunds Hit $80 Billion
At 2:15 · chapter starts 2:10
NPR's Scott Horsley delivers a sobering fiscal update: the federal government is more than $1.3 trillion in the red with three months still left in the fiscal year [1] — Scott Horsley "Nine months into the fiscal year, the U.S. is more than $1.3 trillion in the red — and the interest bill alone has already surpassed $1 tri…" 02:07 . Tax collections are up, but spending is growing faster — a gap that shows no sign of closing. The starkest figure is the interest bill: paying the interest on accumulated federal debt has already cost more than $1 trillion this fiscal year alone, a sum that dwarfs nearly every line in the federal budget except Social Security [1] — Scott Horsley "Nine months into the fiscal year, the U.S. is more than $1.3 trillion in the red — and the interest bill alone has already surpassed $1 tri…" 02:07 . Adding to the fiscal pressure, the Supreme Court's decision to strike down the president's most sweeping import tariffs has created a massive refund liability. The Treasury Department has already paid out more than $80 billion to businesses and individuals who were charged tariffs the court later ruled illegal [2] — Scott Horsley "The Supreme Court struck down the president's sweeping import taxes, and now the government is footing an $80 billion refund bill. While th…" 02:37 . The administration is pushing to impose new tariffs to replace the lost revenue, but the financial damage from the old ones is still being reckoned with.
Nine months into the fiscal year, the federal government is more than $1.3 trillion in the red.
Just paying interest on accumulated federal debt has cost more than $1 trillion in the last nine months — more than nearly any other single government program except Social Security.
The Supreme Court struck down the president's sweeping import taxes, and now the government is footing an $80 billion refund bill. While the administration scrambles to impose new tariffs, the fiscal fallout from the old ones is still being tallied.
After a third consecutive night of U.S. military strikes on Iran, Tehran is hitting back hard. Bahrain's missile alert system went off for a third time, and Iran targeted two UAE-linked tankers, killing one person and wounding eight others. The region is on edge.
The Treasury Department has paid more than $80 billion in refunds for tariffs that were collected illegally after the Supreme Court struck them down.
Secretary of State Marco Rubio announced a campaign to dismantle the International Criminal Court, calling it a threat to U.S. sovereignty.
