Federal Deficit Projected to Double This Year

(Worthy News) – The federal deficit is projected to roughly double this year from last, according to projections, which will be a historic jump, usually attributed to “major crises.”

President Joe Biden hailed the trimming of the post-COVID pandemic deficit from nearly $3 trillion in his first year to $1 trillion in his second — a number he falsely claimed was cutting the deficit, but its increase was merely slowing. The 2023 deficit appears to be headed for at least a doubling, The Washington Post reported Sunday.

The federal fiscal year, which ends after this month, has already run up a $2.2 trillion deficit thus far, and the doubling from last year was projected by the Committee for a Responsible Federal Budget, according to the Post. [ Source: NewsMax (Read More…) ]