US Budget Deficit Crosses $1 Trillion Halfway Through Fiscal Year 2024

The federal government is on pace to surpass$ 1 trillion in the first six months of its fiscal year 2024 budget deficit, which is its fifth consecutive deficit of$ 1 trillion.
According to the Treasury Department, the federal deficit totaled$ 236 billion in March, over 38 percent from a gap of$ 378 billion in the year- before month.
As a result, the macroeconomic year- to- time funds space is$ 1.065 trillion, down$ 36 billion from the same period last year. The 12- quarter rolling national deficit has totaled$ 1.7 trillion, down$ 37 billion in the same period last month.
As a share of the economy, the deficit represented 6 percent of the gross domestic product ( GDP )….

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