BREAKING: The US Treasury posted a $291 billion budget deficit in July, the 2nd-largest deficit for any July on record.
— The Kobeissi Letter (@KobeissiLetter) August 13, 2025
The gap marks a sharp reversal from June’s $27 billion budget surplus.
This comes as government spending surged +9.7% YoY to $630 billion, the 2nd-highest… https://t.co/ChrKvcicKw pic.twitter.com/TL87SH1s2U
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Debt cycle is climaxing. All stops have been removed. All of that tariff revenue came right off the books and bottom line of American companies. I can not draw a line to any specific bankruptcies but I do know American companies bear the tariff burden while government propagates one of the biggest lies ever told by gov – that other countries pay.
You see we took the money out of the left pocket in June, and put it into the right pocket in July.