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Friday, December 5, 2025

Trump’s first month showed $36 billion more in spending than last year

A DOGE reality check in Treasury data

By Neil Irwin, Axios 

Mega-tariffs! Mass government layoffs! Slashed federal spending! Those have been the headlines, but if you get your information from the Treasury Department’s monthly accounting of its revenue and spending, things don’t look nearly so dramatic — at least, for now.

Why it matters: For the first full month of the Trump presidency, the government’s cash flow statements provide precious little evidence of the sweeping economic policy change that the new administration seeks to deliver.

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