The Federal Deficit Is Even Bigger Now Than It Looks

The federal government’s annual deficit for 2023 appeared to be $1.7 trillion, but due to irregularities involving President Biden’s now-overturned student debt cancellation plan, the real deficit for 2023 is closer to $2 trillion. This marks an increase from 2022 and reignites debates in Washington over the expanding deficit, exacerbated by factors like lower tax receipts and higher interest rates.

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