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Budget Deficit Tops $500 Billion in the First Quarter

The federal budget deficit was $129 billion in December, the Treasury Department reported Thursday. That brings the deficit for the first quarter of the 2024 fiscal year, which began in October, to $510 billion.The deficit for calender year 2023 totaled $1.8 trillion.Revenues of $429 billion in December were $26 billion lower compared to a year ago, while outlays of $559 billion were $19 billion higher.The deficit is increasing more rapidly this year than in 2023, when the first quarter deficit ....

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Yellen Says Extending Trump Tax Cuts Would Worsen Deficit

(Bloomberg) Treasury Secretary Janet Yellen said extending all the 2017 tax cuts won by former President Donald Trump would lead to “serious concerns” over the federal budget deficit.Most Read from BloombergBoeing Slumps After Panel Blowout Leads to Partial 737 GroundingMusk’s Drug Use Concerns Tesla, SpaceX Leaders, WSJ SaysIPhone Survives 16,000-Foot Fall, Helps Steer Jet-Panel HuntChina Says It Caught Foreign Consultant Spying for UK’s MI6If he returns to office, Trump intends to make the ....

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'Truly depressing achievement': US hits record $34 trillion national debt — more than the value of China, Japan, Germany, India and the UK's economies combined. What does this mean for you?

“America just cannot stop borrowing.” ....

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