Friday, January 12, 2024

Deficit of $128 billion in December 2023

 See Monthly Budget Review: December 2023 (cbo.gov)

mts1223.pdf (treasury.gov)

The federal government incurred a deficit of $128 billion in December 2023, CBO estimates— $43 billion more than the deficit recorded in December 2022.  (This is really bad - it is the 2nd highest December deficit ever, after a $140 billion deficit in December 2020.)  The federal budget deficit totaled $509 billion in the first quarter of fiscal year 2024, the Congressional Budget Office estimates. That amount is $87 billion more than the deficit recorded during the same period last fiscal year: Although revenues this year were $83 billion (or 8 percent) higher, outlays rose more—by $170 billion (or 12 percent). (The FYTD deficit is also the second highest ever behind FY2021.)

Net Interest for the month was $68 billion, and YTD net interest is $221 billion.  Defense spending for the month is $81 billion.

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On 12/30/22, the national debt was $31.420 trillion.  On 12/31/23, it was $34.001 trillion.  So it grew 8.2% in one year.

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