The federal budget deficit is slowly creeping toward $1 trillion, according to the Congressional Budget Office (CBO). In its February Monthly Budget Review, the CBO reports that for the first five months of fiscal year 2024, the federal budget deficit hit $830 billion. That amount is $108 billion more than the deficit recorded during the same period last fiscal year. While revenues increased by $121 billion (or 7%), expenditures increased $228 billion (or 9%). The CBO currently projects a deficit of $1.5 trillion for fiscal year 2024, down from its fiscal year 2023 projection of $1.7 trillion. Read the CBO’s February Monthly Budget Review: https://bit.ly/3wVCltD
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