Monday, October 2, 2023
HomeNewsProjected Federal Deficit Expected to Double in Current Year

Projected Federal Deficit Expected to Double in Current Year

The federal deficit is expected to double this year compared to last year, reaching a historic level comparable to major crises such as the COVID-19 pandemic and the Great Recession. President Joe Biden has claimed to be cutting the deficit, but it is actually only slowing down. The deficit for the current fiscal year has already reached $2.2 trillion. This has led to concerns about federal policy and the impact on the economy, including potential increases in interest rates and a federal debt crisis. The data also poses challenges for House and Senate Democrats’ plans to increase spending for progressive initiatives and undermines Biden’s budget and reelection narratives.

Source link

I'm TruthUSA, the author behind TruthUSA News Hub located at With our One Story at a Time," my aim is to provide you with unbiased and comprehensive news coverage. I dive deep into the latest happenings in the US and global events, and bring you objective stories sourced from reputable sources. My goal is to keep you informed and enlightened, ensuring you have access to the truth. Stay tuned to TruthUSA News Hub to discover the reality behind the headlines and gain a well-rounded perspective on the world.
- Advertisment -

Most Popular

Recent Comments