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On November 15, 1995, the clock stopped counting up for the first time in its six years of operation. As a result of a federal government shutdown, the clock was frozen at a value of $4,985,567,071,200. [11] In 1998, the clock broke down shortly after the numbers surpassed $5.5 (~$9.59 trillion in 2023) trillion.
WASHINGTON (Reuters) -The U.S. government posted a $367 billion budget deficit for November, up 17% from a year earlier, as calendar adjustments for benefit payments boosted outlays by some $80 ...
The Congressional Budget Office estimated on Tuesday a U.S. federal deficit of $1.834 trillion for fiscal 2024, the highest in the post-COVID era, as debt interest costs jumped sharply and outlays ...
(The Center Square) – The latest federal numbers show the U.S. deficit is soaring as President Joe Biden heads out of office. The U.S. Congressional Budget Office released its monthly budget ...
According to the Treasury report in October 2018, summarized by Business Insider's Bob Bryan, the U.S. federal budget deficit rose as a result of the Tax Cuts and Jobs Act of 2017 [16] signed into law by President Donald Trump on December 22, 2017 [71] and the Consolidated Appropriations Act, 2018 signed into law on March 23, 2018. [72] [73]
In the fiscal year 2022, the federal government brought in $4.90 trillion but spent $6.27 trillion, with a net budget deficit of $1.38 trillion (the fourth-highest of the 21st century). In addition, it has run deficits every year since 2001, when it last ran a surplus. [18] Financing a deficit requires that the government borrow money. [19]
The Treasury said the October deficit was up 287% from the $67 billion deficit in October 2023, but calendar adjustments in benefit payments had cut that month's deficit nearly in half. A U.S. Trea
The federal budget deficit rose to $1.7 trillion in fiscal 2023, according to data released Friday by the Treasury Department. The gulf between how much money the federal government spent and made ...