US deficit doubles as Biden asks for more Ukraine funding ...News

A government report has revealed that Washington’s spending soared even as tax receipts declined in the latest fiscal year Washington’s federal budget deficit essentially doubled in the government’s latest fiscal year as President Joe Biden’s administration continued to ramp up spending despite slumping tax revenue, a new US Treasury Department report has shown. Government spending in excess of tax receipts totaled $1.7 trillion in the 2023 fiscal year, ended on September 30, up from $1.37 trillion in the preceding 12 months, the Treasury Department said on Friday. However, those figures were skewed by Biden’s fai

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