The Treasury Department is touting progress in lowering federal spending since President Donald Trump returned to the White House in January.

Treasury officials are touting data showing a decline in year-over-year federal spending growth relative to the final full year of the Biden administration. The Trump administration's data shows federal spending was up 7.1% year over year in the second quarter of 2024, before accelerating to 28.5% in the third quarter and 10.9% in the fourth quarter.

In the first quarter of 2025, when the transfer of power between the Biden and Trump administrations occurred, spending was up 8.5% year over year. That slowing trend continued in the last two quarters, with federal outlays up just 0.2% in the second quarter of 2025 and outlays falling 2.5% in the

See Full Page