After nine months in office, the Trump administration has received positive economic news as a result of President Trump’s fiscal policy. According to reports from the U.S. Treasury Department, the federal budget deficit has reached its lowest levels since before the COVID-19 pandemic.
Treasury Secretary Scott Bessent celebrated the news on Wednesday in a post on X.
“The budget deficit began to shrink dramatically beginning in the second quarter of this year when there was no overlap with the Biden administration,” Bessent said. “From April to September, the cumulative deficit totaled just $468 billion. This is the lowest reading since 2019 and is down nearly 40% from the comparable period last year when Biden was spending recklessly.”
The effect of Trump’s economic policies is reflected in the analysis of the federal budget at the close of the fiscal year. Reporting from the Congressional Budget Office (CBO) showed a surplus of $164 billion for September 2025, which represents a 105 percent increase over the same period in 2024.
Factors contributing to the surplus included cuts to spending within the Department of Education and increased revenue generated by tariffs. Customs duties resulting from President Trump’s implementation of tariffs were $22 billion for the month of September 2025, an increase of 310 percent from the same month last year. The CBO estimated total revenue from tariffs for fiscal year 2025 at $118 billion, an increase of 153 percent over fiscal year 2024.
Bessent credited President Trump’s economic vision for the economic turnaround.
“Today, President Trump is putting the U.S. financial system on solid footing,” Bessent said. “Revenues are soaring and government spending is under control.”
Bessent concluded his statement by pointing out the possible economic motives behind the shutdown of the federal government and stating that the progress of the Trump administration would not be thwarted.
“Democrats think they can undo the important progress the President has made by shutting down the government. But they will not succeed,” Bessent said.