Federal deficit up more than 60% in first fiscal quarter
(Worthy News) – The federal deficit is up more than 60% for the first quarter of fiscal year 2021 compared to the same period last year, rising to a record-breaking $572.9 billion amid increased spending and declines in revenues.
The Treasury Department’s report found that the deficit from the first three months of the budget year was $216.3 billion more than the beginning of the prior year.
Outlays for the period ended at $1.38 trillion, representing an 18.3% jump, according to the Associated Press. Revenues, on the other hand, slipped .4% to $803.37 billion. December alone saw a record $143.6 billion deficit. [ Source: Washington Examiner (Read More…) ]
Worthy News reports from a biblical worldview with a commitment to accuracy, transparency, and editorial independence. Learn more about About Worthy News, our Editorial Standards, AI Use Policy, Ownership of Worthy News, News Tips and Corrections, and Worthy News Staff.
💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.
📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌
Latest Worthy News
Books by George Whitten
The Biblical Fall Feasts Revealed https://biblicalfallfeasts.com
An in-depth look at the Biblical fall feasts and their prophetic significance for believers today.
The Eternal Kingdom Revealed https://eternalkingdomrevealed.com
The Eternal Kingdom Revealed traces the Kingdom of God as the central story of Scripture, from before creation to the restoration of all things.
As an Amazon Associate I earn from qualifying purchases.
