Biden Runs $460B Deficit in First Four Months of FY 2023

Biden Runs $460B Deficit in First Four Months of FY 2023

THE SIGNAL

Former acting White House Chief of Staff Mick Mulvaney joins ‘Cavuto: Coast to Coast’ to discuss lawmakers tackling the debt ceiling. The federal government ran a $460 billion budget deficit in the first four months of fiscal year 2023, adding $39 billion to the deficit in January, the Treasury Department confirmed Friday. The government raised $1.47 trillion in tax revenues between October and January, which was 3% lower than the amount of revenue raised over the same period last year. Spending came in at $1.9 trillion, which was 9% higher than in the first four months of FY 2022, according to the Treasury’s monthly statement. January’s deficit was smaller than December’s $85 billion budget shortfall, which was itself lower than the $249 billion deficit posted in November. …

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