U.S. Budget Deficit Climbs to 6.4% of GDP in Fiscal Year 2024

The United States budget deficit rose to 6.4% of Gross Domestic Product (GDP) in 2024, up from 6.3% in 2023. This increase occurred despite additional tax revenue, which failed to offset rising debt service costs. The Treasury Department announced these figures on Friday, just weeks before the election. The upcoming vote pits Democratic candidate and […]

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