Reported 27 days ago
The US federal budget deficit has surged to $1.9 trillion as the fiscal year approaches its conclusion, reflecting a 24% increase compared to the previous year. In August alone, the deficit hit $380 billion, driven by higher interest costs on debt and effects from the Supreme Court's decision on student-debt forgiveness. Interest payments have skyrocketed to over $1 trillion for the first time, driven by the Federal Reserve's interest rate hikes.
Source: YAHOO