The U.S. government's budget deficit grew nearly 20% in July to $291 billion despite a nearly $21 billion jump in customs duty collections from President Donald Trump's tariffs, with outlays growing faster than receipts,

Even as the president talks about America becoming rich because of his import tax hikes, federal spending keeps outpacing the revenues collected by the government.

The U.S. government ran a massive $291 billion deficit in July even as customs duty collections soared nearly $21 billion thanks to Trump’s tariffs.