The data comes as Donald Trump and Kamala Harris are proposing new tax and spending plans that are estimated to add trillions more to the deficit over the next decade.

The federal budget deficit swelled to $1.8 trillion in the fiscal year that ended in September, an enormous sum that significantly increases the national debt as Washington barrels toward a potential 2025 showdown over spending and taxes.

The federal budget deficit for fiscal year 2024 rose to $1.8 trillion, the highest in three years, the Congressional Budget Office estimated Tuesday. The analysis shows that 2024’s deficit increased from the $1.