The U.S. Government Is Spending Way More Than It’s Making

The federal government led a deficit of $ 345 billion for the month of August, according to a monthly report from the US Treasury on Thursday.

The figure exceeded expectations because economists had provided a deficit of around $ 300 billion, according to CNBC. In reality, the government spent $ 689 billion while taking $ 344 billion, including $ 30 billion on the prices: a monthly record that was still terribly inadequate to fill the budgetary gap, because August saw the third deficit recorded this year.

During the exercise until now, the United States has accumulated a deficit of 1.973 dollars. This figure is 76 billion dollars more than it was at the same time as last year, and, according to Bloomberg, was only exceeded by the 2020s and 2021, when the United States “spends extraordinary amounts to deal with the cocovid crisis”.