US budget deficit hits record $1.9 trillion so far this year
“The shortfall so far this year is 30.3% higher than the $1.48 trillion deficit run up over the same period a year ago, the Treasury Department said Wednesday in its monthly budget report.”
USAGOLD note: The Biden Administration would have us believe that this is not a problem. In 2020 (calendar year), the government spent a little over $6 trillion with revenue of just over $2 trillion. The difference was borrowed.
Sources: St. Louis Federal Reserve [FRED], U.S. Bureau of Economic Analysis
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