What happens to the deficit when the economy turns? I know some of this is long-term infrastructure spending but if the bond market is signalling problematic deficits, some tough choices are going to have to be made.
- Sept deficit $171B vs -$78.6B expected
- Sept 2022 deficit $430B
The deficit in the 2023 fiscal year was larger than every pre-covid deficit.
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- Source: https://www.forexlive.com/news/us-2023-fiscal-deficit-1695-trillion-vs-1375-trillion-in-2022-20231020/