According to the Congressional Budget Office (CBO), the federal budget deficit for the first 11 months of fiscal year 2024 was $1.9 trillion. That’s $372 billion more than the deficit recorded during the same period last fiscal year. Breaking the CBO’s numbers down further, revenues were $420 billion (or 11%) higher and outlays were $793 billion (or 14%) higher from October through August than they were during the same period in fiscal year 2023. According to CBO projections, the 2024 fiscal year deficit amount would come to about $2 trillion if adjusted to exclude the effects of shifts in the timing of certain payments. For additional details: https://bit.ly/4eh3gRt
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