Biden’s Deficit Tops $1 Trillion in First Six Months of 2023, UP 65% FROM LAST YEAR

The year to date deficit is at $1.1 trillion, up 65% since last year. And they are still spending like drunken sailors.

The Democrats are killing us.

Deficit Tops $1 Trillion in First Six Months of FY2023

By: Terence P. Jeffrey CNS | April 12, 2023 |

(CNSNews.com) – The federal deficit topped $1 trillion in the first six months of fiscal 2023 (October through March), according to the Monthly Treasury Statement released today.

This was despite the fact that federal tax revenues in the first six months of this fiscal year were $2,048,196,000,000, which was the second-highest in the nation’s history (when compared to the inflation-adjusted numbers for the tax revenues collected in the first six months of previous fiscal years).

From February to March, according to the Monthly Treasury Statement, the fiscal 2023 federal deficit increased by $378,077,000,000, climbing from $722,627,000,000 to $1,100,704,000,000.

So far, in fiscal 2023, while the federal government collected $2,048,196,000,000 in taxes, it spent $3,148,900,000,000—resulting in the deficit of $1,100,704,000,000.

When the historical budget numbers are adjusted for inflation into March 2023 dollars, it turns out that this year’s October-through-March federal deficit is the fourth largest in the nation’s history. In fiscal 2021, during the COVID pandemic, the October-through-March deficit was $1,944,334,490,000 in constant March 2023 dollars. That was the largest deficit the federal government has ever run in the first six months of a fiscal year.

The second-largest was in October-through-March of fiscal 2009, when the federal government ran a deficit that was $1,357,706,460,000 in constant March 2023 dollars. The third-largest was in October-through-March of fiscal 2011, when the federal government ran a deficit of $1,120,280,830,000 in constant March 2023 dollars.

In October-through-March of fiscal 2012, the federal government also ran a deficit that exceeded $1 trillion in constant March 2023 dollars. But that fiscal year’s first-six-month deficit of $1,024,999,220,000 in constant March 2023 dollars was less than this year’s six-month deficit of $1,100,704,000,000.

The $2,048,196,000,000 that the federal government collected in tax dollars in the first six months of this fiscal year was only exceeded by the $2,236,043,500,000 (in constant March 2023 dollars) that the federal government collected in taxes in the first six months of fiscal 2022.

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Robert

1 year ago

The dollar is totally debased, and the drawstrings that are trying to contain inflation are bursting. People who thought that they had a viable retirement plan will soon see their nest egg reduced to 1/3 of what they envisioned.

Expect to see more older women waiting on table to survive and tax rates up to 50% to pay for an overswelled government at the federal, state and city levels. FJB!

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garry pollack

1 year ago

Reply to  Robert

1/3?—try 10 cents on the dollar…or maybe a penny…

1

Tesla_rules

1 year ago

Thank your cult member friends, Democrats, for turning the USA into Wiemar Germany. I worked with an engineer from Germany, in the early 1980s, who served in the German army during WWII and grew up in Germany during the hyper inflation. He said that when his father would get paid, during the 1920s, his mother had to go out to buy groceries or other items that very day. If she waited until the next day, she would not have enough money to buy what she needed.

If you want details in one example read John F. Mc Manus’ “Financial Terrorism: Hijacking America Under the Threat” to see what an AMERICAN in Portland, OR experienced thanks to hyper inflation in Germany. He had an account in Deutsche Bank AG. When Germany revalued the Deutsche Mark it erased the money he had in his account.

Of course, in 1938 Germany passed a gun control law that banned Jews from owning guns or even stabbing weapons. With the help of an American company, IBM Jews were rounded up. One such man was Alfred Flatow, had been on the German Olympic team in 1896 as a gymnast. The team meddled. He was still involved in the gymnasium and had registered his hand gun due to a law passed during the Wiemar Republic. He died in a concentration camp in 1942.

Read STEPHEN P. HALBROOK’s article “ARMS IN THE HANDS OF JEWS ARE A DANGER
TO PUBLIC SAFETY”: NAZISM, FIREARM REGISTRATION, AND THE NIGHT OF THE BROKEN GLASS”

The Weimar Republic’s well-intentioned gun registry became a tool for evil.
https://www.nationalreview.com/2013/12/how-nazis-used-gun-control-stephen-p-halbrook/

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garry pollack

1 year ago

Reply to  Tesla_rules

nah, we don’t need guns—our country will never B like Nazi Germany…

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Stephen Honig

1 year ago

We are the most wasteful country in the world. We are number one in corruption!

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Zeus

1 year ago

Our monetary system was designed to rob us blind and enslave each new generation to more debt.
The federal government works hand in hand with the central bank.
Our rulers control both.

Currency is a note from the central bank. It represents a value that is determined by the bank. The bank owns the note and we own the value of it. The Federal Reserve Bank is a hostile foreign bank.

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Grendel

1 year ago

Pedo-Joe, and his entire Crime Syndicate, are a CLEAR AND PRESENT DANGER to the united States of America.
He MUST be held to account for his numerous Acts of Treason.

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Brocketta

1 year ago

Why is that mentally sick SOB still president? Him and his whole administration should have been recalled 2 years ago. The lame back assholes in the Republican Party are just talking and are doing nothing. Just compared this with what the Democrats did when Trump was president.

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Doyle Hargraves

1 year ago

Somehow this will be the fault of Trump and the republicans. FJB

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