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The Federal Deficit Is Even Bigger Than It Looks
source link: https://www.wsj.com/economy/the-federal-deficit-is-even-bigger-than-it-looks-6bc8a070
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The Federal Deficit Is Even Bigger Than It Looks
Student-debt cancellation complicates the numbers as higher interest rates make borrowing costlier
Oct. 12, 2023 5:30 am ET
What a Huge Widening of the U.S. Deficit Means for Markets
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What a Huge Widening of the U.S. Deficit Means for MarketsPlay video: What a Huge Widening of the U.S. Deficit Means for Markets
When it comes to the size of the federal government’s annual deficit, appearances can be deceiving.
The gap between spending and revenue for fiscal year 2023, which ended on Sept. 30, was $1.7 trillion, the Congressional Budget Office projected ahead of the official Treasury Department figures. That would be a roughly $300 billion widening in the shortfall from fiscal year 2022.
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