Federal Deficit Widens 170% From 2022, Setting The Stage For Political Rumble
The cost of managing U.S. government debt has seen a significant rise of 25% in the first nine months of the fiscal year, hitting $652 billion and consequently exacerbating the federal deficit.
The federal deficit reached a staggering $1.39 trillion for the nine months through June, according to Treasury Department data. This represents a dramatic 170% increase when compared to the same period last year, Bloomberg reports.
Political Tussles On The Horizon
The expanding deficit could potentially feed into the Republican legislative agenda to slash federal spending, according to the Thursday report.
While an agreement was reached between the GOP, which holds power in the House, an
