The U.S. deficit is nearly as big a Russia’s economy, and there’s a ‘vicious’ feedback loop that could make it worse

Quick Summary:

The CBO's new estimate for the fiscal 2024 deficit is now $1.9 trillion, up from its prior view for $1.6 trillion issued in February and up from the 2023 deficit of about $1.7 trillion.

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Article Details

Author / Journalist: Jason Ma

Category: EconomyBusiness

Markets: United StatesAustraliaIsraelSouth KoreaMexicoUkraine

Topics: Debt Federal Reserve Bonds Budget Deficit Government spending

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-30 @ 22:20:29 (2 days ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 38 words

Reading Time: 1 minutes read

Sentences: 24 lines

Sentence Length: 2 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 21431341

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About Fortune

Main Topics: EconomyBusiness

Official Website: fortune.com

Update Frequency: 29 posts per day

Year Established: 1929

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

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Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #95

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