The US debt continues to explode higher. February deficit was $45 billion dollars higher than the year ago February deficit. Receipts were down and outflows were up
February receipts - $262 billion vs $290 billion previous year
February outflows - $525 billion vs $506 billion previous year
Deficits by month so far this fiscal year
October - $88 billion vs $165 billion previous year (only month with a bigger deficit last year)
November - $248 billion vs $191 billion previous year
December - $85 billion vs $21billion previous year
January - $39 billion deficit vs $119 billion surplus previous year
February - $262 billion vs $217 billion previous year
Fiscal 2023 Year To Date Deficit After 5 Months - $723 billion
So that makes 5 consecutive months in which the deficit has been $45 billion or more larger that it was in the previous year (fiscal 2022). And in both this month and in November, the outlays were essentially double the receipts.
Would you be surprised if the US hits the debt ceiling even earlier that Janet Yellon is projecting?
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