Bidenomics: U.S. Budget Deficit Explodes 23% Higher to $1.7 Trillion
Ntl debt increased from $32 trillion to $33.6 trillion, in the last four months.
Breitbart ^ | 10/20/2023 | John Carney
Posted on 10/20/2023, 7:28:02 PM by ChicagoConservative27
The U.S. budget deficit increased 23 percent to $1.7 trillion, an increase of $320 billion, in the year (after the Biden administration pushed through the Inflation Reduction Act which it claimed would close the government’s funding gap). The explosive growth in the deficit came as revenue fell $457 billion from a year ago and expenses decreased by just $137 billion. Total spending for the year came in at $6.134 trillion.
(Excerpt) Read more at breitbart.com ..
And remember, this is just the official debt. I’ve heard estimates of over 100 trillion in unfunded liabilities,
And what about interest on the debt? With interest rates rising, we have got to be spending well over a trillion a year just on interest on what’s already been borrowed.