The Congressional Budget Office estimated on Tuesday a U.S. federal deficit of $1.834 trillion for fiscal 2024, the highest in the post-COVID era, as debt interest costs jumped sharply and outlays rose for Social Security,

THE Congressional Budget Office (CBO) estimated on Tuesday (Oct 8) a US federal deficit of US$1.8 trillion for fiscal 2024, the highest in the post-Covid era, as debt interest costs jumped sharply and outlays rose for Social Security,

Yet again, the federal government spent far more than it collected in revenue, racking up a budget deficit of $1.8 trillion for fiscal year 2024, according to the Congressional Budget Office.