The New CS Board

[jumanji0881]

Biden: Deficit reduction in chief -
U.S. 2022 budget deficit halves to $1.375 trillion despite student loan costs
https://www.reuters.com/markets/us/us-fy-2022-budget-deficit-halves-1375-trln-despite-student-loan-costs-2022-10-21/

My Comment: The Federal budget deficit fell to $1.4Trillion for FY2022, half of the $2,8Triilion deficit for FY2021. And this reduction was in part due in large to tax receipts hitting a record $4.896 trillion, up $850 billion, or 21% from fiscal 2021. The total debt under Biden over two years is $4.2Trillion. And he keeps spending like a drunken sailor. I'm expecting the national debt to reach $40Trillion by 2026. The deficits will explode higher in the recession. The national debt will keep interest rates high as investors demand compensation for holding US Treasuries.