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1st 4 months of FY 2023: Spending Up/Revenue Down Year to Year
[CBO] The federal budget deficit was $459 billion in the first four months of fiscal year 2023, the Congressional Budget Office estimates $200 billion more than the shortfall recorded during the same period last year. Outlays were 9 percent higher and revenues were 3 percent lower from October through January than during the same period in fiscal year 2022.Outlays in fiscal year 2023 were reduced by the shifting of certain payments, totaling $63 billion; from October 1, 2022 (the first day of fiscal year 2023), into fiscal year 2022 because October 1 fell on a weekend. If not for those shifts, the deficit would have been $522 billion, double the shortfall during the same period in fiscal year 2022. conveniently released the day after Biden's SOTU with its econ happy talk This CBO includes the Social Security, USPS and some other trust funds Posted by: lord garth 2023-02-09 |
| http://www.rantburg.com/poparticle.php?ID=658023 |