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Understanding Recent Claims on U.S. Federal Deficit and Trade Balance Recent discussions have highlighted varying perspectives on U.S. fiscal and trade metrics. According to the Congressional Budget Office (CBO), the federal budget deficit for fiscal year 2025 totaled approximately $1.8 trillion, a modest reduction of about $41 billion from FY2024 after accounting for timing adjustments in payments. Meanwhile, Bureau of Economic Analysis (BEA) data indicates the goods and services trade deficit
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