That is from September 1, 2022, to March 31, 2023. That's $132.57 Billion per month. With five months left in the fiscal year, which will add approximately another $662.85 billion to the National Debt. A total debt for this fiscal year of $1.591 Trillion. Who needs a debt ceiling?
The nonpartisan Congressional Budget Office (CBO) revealed the federal government under President Biden has run a near-$1 trillion federal deficit in the "first seven months of fiscal year 2023."
CBO’s report dropped on Monday, giving lawmakers insight into the current state of the federal deficit.
The nonpartisan agency found that in the first seven months of FY2023 alone, the federal government has racked up $928,000,000,000.
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