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Federal Deficit Projected to Double This Year
Newsmax ^ | 04 September 2023 | Eric Mack

Posted on 09/04/2023 5:53:32 PM PDT by george76

The federal deficit is projected to roughly double this year from last

...

The 2023 deficit appears to be headed for at least a doubling

...

The federal fiscal year, which ends after this month, has already run up a $2.2 trillion deficit thus far

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The revelations come as the 2024 budget appropriations are set to be hashed out in Congress, setting up a difficult message for House and Senate Democrats' plans to continue to increase spending for progressive initiatives.

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The U.S. government has spent $6.7 trillion and taken in just $4.5 trillion, a 16% increase in spending this year over last and a 7% decrease in revenue

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A debt growing much faster than the economy will drive up interest rates, reduce economic investment, and over time make interest payments the largest federal expenditure — risking a federal debt crisis

(Excerpt) Read more at newsmax.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events; Politics/Elections
KEYWORDS: bidenlegacy; bidenomics; deficit; federaldeficit; spendandtax; taxandspend
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To: blackberry1
[Build Back Better. Sure thing]


21 posted on 09/04/2023 7:04:28 PM PDT by SaveFerris (Luke 17:28 ... as it was in the days of Lot; they did eat, they drank, they bought, they sold ......)
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To: All

This isn’t politics.

This is math. It has been this way all of this century. Money is printed pieces of paper. Bernanke exposed this reality by using the phrase Quantitative Ease to obfuscate the reality that money is a substance whose only value is in the imaginations of counterparties.

And that, is why Russia is going to win. They have oil and gas that will run out last. Simply that. Joules are not in the imagination of counterparties.


22 posted on 09/04/2023 7:29:37 PM PDT by Owen
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To: Leaning Right

You forgot E
E: a new reserve currency emerges base on hard assets and renders the U.S. fiat currency worthless. We enter into abject poverty worse than the great depression and become the laughing stock of the world. (that last part is already happening thanks to the turnip)

This gets my vote.


23 posted on 09/04/2023 8:05:47 PM PDT by VTenigma (Conspiracy theory is the new "spoiler alert")
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To: VTenigma

7 minutes of one of his last public speeches by Dr. and Rep. Larry McDonald. With small changes in some place names, his words — and his warning — from 1983 have importance for Americans in the 21st century — ESPECIALLY NOW!
https://youtu.be/UQGRf2wo2_w


24 posted on 09/04/2023 8:15:02 PM PDT by Dick Bachert (=uran)
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To: Leaning Right

E. Deny it’s a problem
F. Blame trump for it


25 posted on 09/04/2023 10:13:03 PM PDT by cableguymn
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To: george76
Double this year-triple by 2040-10X 2049 in 2050.

This is a flywheel that has lost its governer.

Who or what can stop this suicidal leap from a 20-story building?


26 posted on 09/04/2023 11:21:44 PM PDT by henbane ( Georgia's copy-right free mugshot gifted Donald Trump with the Presidential Nomination & Election!)
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