U.S. Government’s Excessive Spending Scandal Grows Bigger

Members of the Biden-Harris administration went on a massive spending bender during their final four months in office. By that, I mean they figuratively blew a hole in the U.S. government’s budget as they headed out the door.

This assessment is not included in the January 2025 Monthly Treasury Statement, which provides data on the U.S. government’s spending and revenues during its 2025 fiscal year to date.

The statement covers the period from October 1, 2024, through January 31, 2025. During these four months, the U.S. government spent $2.44 trillion and collected $1.60 trillion in taxes. The difference between the amount spent and the federal government’s revenues is $840 billion.

That deficit represents the biggest fiscal hole ever dug by any presidential administration during the first four months of any fiscal year.

The chart below reveals how the U.S. government’s spending compares with the previous two fiscal years.

Looking at revenue first, the federal government’s tax collections through January 2025 are slightly ahead of what they were a year ago. That’s good because the U.S. government collected a record amount of taxes in its 2024 fiscal year. It is on track to beat it in 2025. A lack of revenue is not the problem.

The Real Problem

The improvement in revenue is almost unnoticeable because it is dwarfed by the massive increase in spending.

Cumulative spending through the first four months of FY 2025 is 15% higher than it was at the same point in FY 2024. It is also over 26% higher than FY 2023’s cumulative spending.

The excessive spending is clearly unsustainable. It is so unsustainable that it raises the very good question of how they were spending it.

The news in recent weeks was filled with horror stories about the role of USAID in contributing to the Biden-Harris administration’s flood of spending. But that’s just a drop in the bucket of government waste. The real problem is much bigger.

This realization leads to more questions. How many other federal government agencies were also involved in the Biden-Harris administration’s growing spending scandal? Where has the money entrusted to their control gone?

A full accounting of the excessive spending of U.S. politicians and bureaucrats is long overdue. They owe nothing less to the American people.