U.S. budget deficit spikes to $257B in October, up 289% from last year, raising economic concerns.

The US government's budget deficit surged to $257 billion in October, marking a 289% increase from the same period last year. This rise, partially due to calendar adjustments and deferred tax payments, sets a tough financial scenario for the incoming Trump administration. Federal receipts fell by 19%, while spending rose by 24%. Experts warn that current debt levels, projected to reach 116% of GDP, pose a significant threat to the economy.

November 13, 2024
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