(Worthy News) – The federal budget deficit soared to $1.1 trillion for the first half of fiscal 2023, the Congressional Budget Office estimated Monday, $430 billion more than in the same time frame the previous year.
The rising deficit heralds a worsening budget picture for the federal government, especially as interest rates rise. It also presents a problem for President Joe Biden, who had previously boasted about the annual deficit falling as emergency pandemic spending declined.
The nonpartisan budget office has previously projected that the deficit will continue to rise in the years ahead as spending outpaces revenues, driving the federal debt, which represents the accrued deficits, up to record highs. [ Source: Washington Examiner (Read More…) ]
We're being CENSORED ... HELP get the WORD OUT! SHARE!!!
Latest Worthy News
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.
