The United States' deficit increased by a record-breaking $1.1 trillion during the first five months of the current fiscal year, new data from the Treasury Department showed.

The new numbers, released Wednesday, showed the deficit between October 2024 and February 2025. The unadjusted increase saw a surge of $1.147 trillion, while the deficit for the same period in fiscal year 2024 was $828 billion. The deficit for February alone was $307 billion. 

The deficit is largely driven by spending on interest, military programs, public benefits and security, according to the financial news outlet Barron's. The largest spending costs came from interest paid on the public debt and higher tax credits.

A Treasury department spokesperson told CNBC that there has been limited impact from Elon Musk's Department of Government Efficiency, which is attempting to reduce wasteful government spending. But the department's operations have only been active for one month. 

One exception has been the Education Department, per Barron's, where expenditures were lower by $5.6 billion in February compared to the year before.

President Donald Trump's tariffs also did not appear to impact February's deficit, but could impact March's.

The current fiscal year runs from October 2024 through September 2025.

Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.