As the month comes to a close, there has been a significant increase in the U.S. federal budget deficit. According to data released by the U.S. Department of Treasury on Thursday, the deficit for the 11 months since August reached an astonishing $1.9 trillion, a 24% increase compared to the same period last year. The monthly deficit stood at $380 billion, while adjusting for the calendar cycle, there was a surplus in August 2023. This dramatic difference is largely attributed to the failure of the student loan relief policy. Notably, the burden of interest on U.S. debt remains a major drag on the budget. In the first 11 months of this fiscal year, interest costs accumulated to $1.05 trillion, a 30% increase from the previous year. This marks the first time annual interest costs have exceeded $1 trillion. Despite this, officials from the Treasury pointed out that when measured as a percentage of Gross Domestic Product (GDP), this figure is actually lower than levels seen in the early 1990s.