With two months left to go, the deficit for fiscal 2023 now stands at $1.61 trillion, after the federal government charted another massive shortfall in July.
The post Big-Spending U.S. Government Running Recession-Like Budget Deficits first appeared on Tenth Amendment Center.
This is an unsustainable trajectory, especially in a high-interest rate environment.
The post 2023 Budget Deficit Already Bigger Than Last Year’s formerly https://blog.tenthamendmentcenter.com/2023/07/2023-budget-deficit-already-bigger-than-last-years/ first appeared on Tenth Amendment Center.
With the debt ceiling deal done, most people think, "Problem solved." But the deal didn't solve anything. In fact, it made things worse.
The post The Debt Ceiling Deal Solved Nothing; It Made Things Worse first appeared on Tenth Amendment Center.
The fundamental problem was, and still is, that the U.S. government spends too much money.
The post With Little Fanfare the National Debt Blasts Past $32 Trillion first appeared on Tenth Amendment Center.
In May, the federal government piled another $240.3 billion onto the fiscal 2023 deficit, running it to $1.38 trillion with four months left to go
The post 2023 Budget Deficit Now Well Over $1 Trillion first appeared on Tenth Amendment Center.
A surplus sounds like good news, but digging into the data reveals that federal revenues are falling even as spending continues unabated.
The post Federal Tax Receipts Are Tanking But Federal Spending Isn’t first appeared on Tenth Amendment Center.
The spending didn't slow down as we kicked off fiscal 2023. The Biden administration blew through $406.37 billion in October.
The post Feds Take Up Where They Left Off; Run Another Big Deficit to Start Fiscal 2023 first appeared on Tenth Amendment Center.
The federal government is rolling in dough. But it's digging itself deeper into debt.
The post Despite Historically High Tax Receipts Feds Still Digger Deeper into Debt first appeared on Tenth Amendment Center.
Something has to give. The Fed can’t simultaneously fight inflation and prop up Uncle Sam’s spending spree. Either the government will have to cut spending or the Fed will have to keep creating money out of thin air in order to monetize the debt. You can decide for yourself which scenario you find more likely.
The post More of the Same: Feds Run Another Big Budget Deficit in August first appeared on Tenth Amendment Center.
There is no sign the U.S. government is going to get its spending problem under control. Last month, the feds ran the second-largest July budget deficit in history.
The post Feds Run Second-Biggest July Deficit in History first appeared on Tenth Amendment Center.