The Federal Deficit Is Growing. This Is Why. - The New York Times
WEBOct 20, 2023 · White House officials initially predicted that the deficit would hit about $1.7 trillion in the 2023 fiscal year, which ended last month. That is the official figure that Treasury released on...
U.S. sees biggest revenue surge in 44 years despite pandemic
WEBOct 12, 2021 · Revenues jumped 18 percent in the fiscal year that just ended, analysts say — the biggest one-year increase since 1977. That translates into $627 billion more than in 2020, according to the...
Biden budget proposal: 5 takeaways from president's $7.3 trillion …
WEBMar 11, 2024 · Biden's $7.3 trillion budget for the 2025 fiscal year − a 4.7% increase over the current budget − seeks to boost defense spending by 1% and non-defense discretionary spending by 2.4%.
Biden Signs Fiscal Responsibility Act, Ending Debt-Limit Crisis
WEBJun 3, 2023 · President Biden signed the Fiscal Responsibility Act of 2023 into law on Saturday, ending for now the threat of economic calamity from a default on the nation’s debt and putting limits on...
Fiscal Year: What It Is and Advantages Over Calendar Year
WEB1 day ago · A fiscal year is a 12-month period chosen by a company or government to coincide with planning, budgeting, or revenue cycles. A fiscal year can run from Jan. 1 through Dec. 30, but often is...
An Update to the Budget and Economic Outlook: 2024 to 2034
WEBIn CBO’s projections, the federal budget deficit in fiscal year 2024 is $1.9 trillion. Adjusted to exclude the effects of shifts in the timing of certain payments, the deficit amounts to $2.0 trillion in 2024 and grows to $2.8 trillion by 2034.
US January deficit drops sharply as receipts grow, tax refunds fall
WEBFeb 12, 2024 · The U.S. federal budget deficit fell sharply in January to $22 billion as receipts hit a record for that month, partly because tax refunds fell after the Internal Revenue Service (IRS) cleared...
Congressional leaders announce deal to fund rest of government
WEBMar 19, 2024 · Congressional leaders on Tuesday formally announced a deal to keep the rest of the government funded through the fiscal year, but with just days to go before a key deadline, members from both...
Joint Statement of Janet L. Yellen, Secretary of the Treasury, and ...
WEBOct 21, 2022 · WASHINGTON — U.S. Secretary of the Treasury Janet L. Yellen and White House Office of Management and Budget (OMB) Director Shalanda D. Young today released the final budget results for fiscal year (FY) 2022. During FY 2022, the deficit fell by $1.4 trillion—the largest one-year decrease in the Federal deficit in American history.
U.S. Budget Deficit Hit $2.8 Trillion in Fiscal 2021 - The New York …
WEBOct 22, 2021 · The budget deficit was down from the record $3.1 trillion that the United States recorded in the 2020 fiscal year, as the pandemic gripped the economy. This year, tax revenue rose to $4...