See https://www.fiscal.treasury.gov/files/reports-statements/mts/mts0124.pdf
and https://www.cbo.gov/system/files/2024-02/59822%C2%ADMBR.pdf
Net interest from the month was $68 billion. The fiscal year to date net interest is up 47% from $198 billion in 2023 to $291 billion (according the CBO, but the monthly treasury statement says it is $283 billion). The defense spending for January was $60 billion, and FYTD is $281 billion (according to the CBO, but the monthly treasury statement says it is $298 billion). Maybe the CBO and the Treasury department number crunchers should talk to each other and get their stories straight.
Anyways a $22 billion deficit is pretty good in the grand scale of things. In Jan 2023 it was $38 billion.
The fiscal year to date interest was only $140 billion in the Oct 2021-Jan 2022 time frame. So it increased 41% from 2022 to 2023, and another 47% from 2023 to 2024.
How long until the net interest exceeds $1 trillion per year? I think it will be in fiscal year 2026.
===========
On 1/31/23, the total national debt was $31.455 trillion. On 1/31/24, it was $34.191 trillion. This is an increase of 8.7% in one year.
No comments:
Post a Comment