The US budget deficit shrank to $1.67 trillion for the 2025 calendar year, the smallest in three years, thanks mainly to a record surge in customs revenue.
The deficit for the month of December was $145 billion, Treasury Department data showed on Tuesday. For the first three months of the 2026 fiscal year, which began Oct. 1, the shortfall came in at $602 billion. Last month saw customs duties slow to $28 billion, the smallest haul since July.
While President