Friday, March 8, 2024

Deficit of $298 billion in February

 See: https://www.cbo.gov/system/files/2024-03/59973-MBR.pdf 

The fiscal year to date 2024 deficit is $830 billion for 5 months.  Interest for February was $69 billion. Defense spending for the month was $62 billion. We are still on track for a $2.1 trillion deficit for FY 2024.

The national debt as of 2/29/24 was $34.47 trillion. On 2/28/23 the national debt was $31.46 trillion. So it grew by 9.6%, and this is higher than the 8% long-term growth I see, but I think this will slow down slightly for the April to June quarter at least.

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Interest in February 2023 was $42 billion, so this was an increase of 64% over the same month in the previous year.

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