Fiscal year-to-date budget deficit hits $1.7 trillion, up 130%

The U.S. government’s budget deficit surged to an all-time high of $1.7 trillion for the first six months of this budget year, nearly double the previous record, as another round of economic-support checks added billions of dollars to spending last month.

In its monthly budget report, the Treasury Department said Monday that the deficit for the first half of the budget year — from October through March — was up from a shortfall of $743.5 billion for the same period a year ago.

The deficit has been driven higher by trillions of dollars in support Congress has passed in successive economic rescue packages since the pandemic struck in early March 2020. The latest round came in a $1.9 trillion measure that President Joe Biden pushed through Congress last month.

Biden’s package included individual support payments of up to $1,400, and the administration rushed to make those payments as soon as Biden signed the measure into law. The Treasury statement showed that the payments in March totaled $339 billion.

The budget report showed that the deficit for just March totaled $659.6 billion, the third-highest monthly deficit. For the six-month period, the $1.7 trillion deficit total surpassed the previous record of an $829 billion deficit run up for the six months ending in March 2011, a period when the government was spending to deal with the adverse effects of the recession caused by the 2008 financial crisis.

Last year’s deficit, for the budget year that ended Sept. 30, totaled a record $3.1 trillion. The Congressional Budget Office estimated in February that this year’s deficit would total $2.3 trillion. But that estimate did not include the cost of the $1.9 trillion rescue plan or the impact of Biden’s “Build Back Better” infrastructure proposal that Congress is considering now.

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[bryson]

Japan is like "that's all"?

[alsilva]

Meanwhile the US president is compromised by China but US MSM won't tell you about it

[michaelwalker]

We're destroyed! Them damn demos and soros

[jacobvaten]

Biden took notes of everyones complaints against Trump and said "hold my beer"

[Boxagami]

Looks like there's a bleak future here in the states...

[lioneljoge]

Did she say democrats? Bias af. Just say congress.

[garydavidson]

Taxes need to be raised to pay the debt for corporate USA has gotten 7 trillion since 2017 tax cut to their bailout from covid as well

[bencoomer]

So what?

Fiat currency. We have the money we say we do.

If it really matter to the deficit scolds, we'd be taxing the rich.

[JK-ryfv]

Jesus Christ saves from sin.
Romans 3: 23
For all have sinned, and come short of the glory of God;
Hebrews 9: 27
And as it is appointed unto men once to die, but after this the judgment:
Isaiah 64: 6
But we are all as an unclean thing, and all our righteousnesses are as filthy rags; and we all do fade as a leaf; and our iniquities, like the wind, have taken us away.
Revelation 21: 8
But the fearful, and unbelieving, and the abominable, and murderers, and whoremongers, and sorcerers, and idolaters, and all liars, shall have their part in the lake which burneth with fire and brimstone: which is the second death.
Romans 5: 8
But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us.
John 3: 16
For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.
John 14: 6
Jesus saith unto him, I am the way, the truth, and the life: no man cometh unto the Father, but by me.
Romans 10: 9-10.
That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved.
For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.
Jesus said John 5: 24
Verily, verily, I say unto you, He that heareth my word, and believeth on him that sent me, hath everlasting life, and shall not come into condemnation; but is passed from death unto life.
1John 5: 10-13
He that believeth on the Son of God hath the witness in himself: he that believeth not God hath made him a liar; because he believeth not the record that God gave of his Son.
And this is the record, that God hath given to us eternal life, and this life is in his Son.
He that hath the Son hath life; and he that hath not the Son of God hath not life.
These things have I written unto you that believe on the name of the Son of God; that ye may know that ye have eternal life, and that ye may believe on the name of the Son of God.
Ephesians 2: 8-9
For by grace are ye saved through faith; and that not of yourselves: it is the gift of God:
Not of works, lest any man should boast.
Romans 8: 1
There is therefore now no condemnation to them which are in Christ Jesus, who walk not after the flesh, but after the Spirit.
1 Corinthians 15: 3-4
For I delivered unto you first of all that which I also received, how that Christ died for our sins according to the scriptures;
And that he was buried, and that he rose again the third day according to the scriptures:
2 Corinthians 5: 21
For he hath made him to be sin for us, who knew no sin; that we might be made the righteousness of God in him.

[Leo-zv]

Oh well 20 trillion on wars wasted money

[ahamed]

Keep spending. I'll be debt when debt is due.

[JustMe-clqc]

Good Lord somebody please go through every one of these programs an delete those unnecessary. I know somebody said this job up so that their cousin's nephews uncle would have a job