Budget Deficit Hits Monthly Record Due to Biden’s Policies
12/23/2022Hans Bader
America’s “monthly federal deficit hit a record $249 billion in November—$57 billion more than the same month last year—with federal spending also hitting new heights in consecutive months, while tax revenues dropped,” reports the London Daily Mail.
The deficit is $57billion higher than it was in November of 2021—which is a record-breaking year-on-year change. Federal spending is up $28billion from last year to $501billion in November 2022, according to the Treasury Department. . . .
. . . [R]evenues are down $13billion year-to-year to $252billion. . . .
Spending was, in part, driven by an 18 percent—or $14billion—increase in Medicare spending and a 94 percent increase in education costs. . . .
https://mises.org/wire/budget-deficit-hits-monthly-record-due-bidens-policies
