The federal budget deficit widened by $89 billion in the first three months of FY24 compared to the same period last year, with rising interest costs outpacing higher tax revenue.
In a new projection from the nonpartisan Congressional Budget Office, the federal budget deficit – the gap between government revenue vs. spending – will be $1.9 trillion for the 2024 fiscal year. Thedeficit forecastis $400 billion higher than the CBO’s last estimate in F...
WASHINGTON, Sept. 10 (Xinhua) -- U.S. federal budget deficit reached 1.067 trillion U.S. dollars for the first 11 months of fiscal year 2019, which will end on Sept. 30, according to the Congressional Budget Office (CBO)'s latest monthly budget review. The figure is 168 billion U.S....
Projecting a deficit of $40 billion for 2023–24—effectively unchanged from last spring’s federal budget—the government’s fiscal plan includes several interesting tax measures and funding initiatives.GST/HST MeasuresNew Joint Venture Election Rules...
Posted in Debt, Deficit, Easy money, Federal Reserve, Fiscal Policy, Government Spending, Inflation, Monetary Policy, tagged Debt, Deficit, Easy money, Federal Reserve, Fiscal Policy, Government Spending, Inflation, Monetary Policy on February 26, 2023| 10 Comments » In this segment from a ...
WASHINGTON, June 12 (Xinhua) -- The U.S. federal deficit surged to 208 billion U.S. dollars in May, up 42 percent compared to the same period last year, the Treasury Department's Wednesday data showed. By the end of May, the cumulative deficit in the fiscal year 2019, which started...
The deficit is the amount the federal government is expected to spend this year over and above the revenue it takes in. The situation doesn’t improve in later years. The CBO projects the federal deficit will gradually rise, hitting $2.7 trillion by 2035. And yes, entitlement programs like...
In fiscal year 2023, the U.S. government collected $4.44 trillion in revenue and spent $6.13 trillion, resulting in a $1.70 trillion deficit.7 Types of Taxable Income Generally speaking, there are two types oftaxable income: earned income and unearned income. ...
Federal deficit on track to exceed $400B this year
The federal budget deficit is the difference between what the U.S. government takes in from taxes and other revenue streams in a fiscal year and the amount of money that has been authorized to be spent during that year. The federal budget deficit for the fiscal year 2023 was about $1.7 t...