Fact Check: The annual tally was 14% higher than a year ago

Published June 13, 2025

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VERDICT

True

# Fact Check: "The annual tally was 14% higher than a year ago" ## What We Know The claim that "the annual tally was 14% higher than a year ago" refe...

Fact Check: "The annual tally was 14% higher than a year ago"

What We Know

The claim that "the annual tally was 14% higher than a year ago" refers specifically to the U.S. budget deficit for May 2025, which was reported to be $316 billion. According to the Treasury Department, this figure represents a 14% increase from the same period the previous year, indicating that the deficit has worsened compared to the prior year (CNBC). The report also notes that while the deficit for May 2025 was higher than the previous year, it was 9% lower than the shortfall recorded in May 2024 (CNBC).

Analysis

The source of this claim is a recent report from CNBC, which is a reputable news outlet known for its financial and economic reporting. The report provides specific figures and context regarding the U.S. budget deficit, making it a reliable source for understanding changes in fiscal policy and economic conditions. The calculation of a 14% increase is based on the standard formula for percentage increase, which is confirmed by various percentage calculators (CalculatorSoup, Percent Growth Calculator).

To calculate the percentage increase accurately, one would use the formula:

[ \text{Percentage Increase} = \left( \frac{\text{Final Value} - \text{Starting Value}}{|\text{Starting Value}|} \right) \times 100 ]

In this case, if the previous year's deficit was approximately $277 billion (calculated as $316 billion / 1.14), the increase to $316 billion represents a 14% rise. This calculation is straightforward and aligns with the reported figures (CalculatorSoup, Percent Growth Calculator).

Conclusion

Verdict: True. The claim that "the annual tally was 14% higher than a year ago" is accurate based on the reported data from the U.S. Treasury and corroborated by reliable financial reporting. The calculations used to determine the percentage increase are standard and consistent with mathematical principles.

Sources

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