Congressional Budget Office

Federal Budget Deficit Hits $1.4 Trillion, Despite Shrinking: CBO

Federal Budget Deficit Hits $1.4 Trillion, Despite Shrinking: CBO

By the end of the fiscal year 2022, the U.S. federal budget deficit was a staggering $1.4 trillion, despite shrinking, according to estimates published by the Congressional Budget Office (CBO). For this past fiscal year, which ended September 30, the deficit was around half of the prior year. For the…
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