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U.S. budget deficit swells to $1.7 trillion in fiscal 2023 as revenue tumbles

Por: MarketWatch Politics October 21, 2023

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The Treasury said the sharp decrease in revenue was due to lower individual-income tax receipts as capital-gains realizations fell, and to rising interest rates that cut the amount of money the Federal Reserve deposited at the Treasury. Also read: Spending to pay interest on the public debt rose 23% for the year, or $162 billion. The gap for fiscal 2023 would have been wider had the Supreme Court not struck down President Joe Biden’s... + full article



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