US budget gap soars to $1.7 trillion, largest outside COVID era
https://www.reuters.com/world/us/us-budget-deficit-jumps-23-nearly-17-trillion-social-security-health-costs-rise-2023-10-20
Interest costs on the more than $33 trillion in federal debt also rose sharply, up 23% to $879 billion, a record. Net interest payments, excluding intragovernmental transfers to trust funds, rose 39% to $659 billion, also a record, according to a Treasury official.
https://www.reuters.com/world/us/us-budget-deficit-jumps-23-nearly-17-trillion-social-security-health-costs-rise-2023-10-20
Interest costs on the more than $33 trillion in federal debt also rose sharply, up 23% to $879 billion, a record. Net interest payments, excluding intragovernmental transfers to trust funds, rose 39% to $659 billion, also a record, according to a Treasury official.
As U.S. Debt Surges, Europe Brings Its Own Under
Control
My take:
Fitch’s downgrade of US debt wasn’t a mistake — it was long overdue
https://thehill.com/opinion/finance/4138215-fitchs-downgrade-wasnt-a-mistake-it-was-long-overdue/
America’s long-term fiscal sustainability challenge
https://thehill.com/opinion/finance/3965613-americas-long-term-fiscal-sustainability-challenge/
https://thehill.com/opinion/finance/4138215-fitchs-downgrade-wasnt-a-mistake-it-was-long-overdue/
America’s long-term fiscal sustainability challenge
https://thehill.com/opinion/finance/3965613-americas-long-term-fiscal-sustainability-challenge/