The Wall Street Journal: Washington Racks Up Another $1.8 Trillion Budget Deficit
Article by The Editorial Board in The Wall Street Journal
The legacy hits keep coming from the Biden-Harris Administration, and on Tuesday it was the report that the federal budget deficit for fiscal 2024 clocked in at $1.83 trillion. That’s 13% larger than the year before taking into account timing shifts in outlays, and it comes despite a growing economy and no pandemic, financial crisis, or war involving large U.S. forces.
Do not expect a White House press release on this one. A deficit of this magnitude in an otherwise benign economic environment is unprecedented—except for the previous years of the Biden Presidency. It also comes despite an 11%, or $479 billion, increase in ......