The U.S. government's budget deficit grew nearly 20% despite a nearly $21 billion jump in customs duty collections from Trump's tariffs, with outlays growing faster than receipts, the Treasury Department said.

WASHINGTON -- The U.S. budget deficit in July climbed 20% this fiscal year compared to the last despite the U.S. taking in record income from President Donald Trump’s tariffs, according to Treasury Department data released Tuesday.

Despite grandiose claims about his tariffs bringing in billions in revenue, President Donald Trump cannot seem to help the escalating budget deficit