The U.S. Congressional Budget Office reports that the federal government is borrowing far more this fiscal year than the year before even as inflation continues to rise.
The CBO released its deficit estimate which said the U.S. deficit hit about $1.5 trillion in the first 11 months of this fiscal year.
Republicans who once criticized former President Barack Obama’s handling of U.S. debt quietly watched as the federal government debt hit $23 trillion for the first time in history.
by Rachel del Guidice Restoring fiscal sanity to Congress is a matter of national security, the chairman of the House’s largest Republican caucus says. “It’s not a sustainable trajectory,” Rep. Mike Johnson, R-La., chairman of the Republican Study Committee, said of a national debt that has topped $22 trillion.…