[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help] 

Status: Not Logged In; Sign In

Arctic Sea Ice Soars to Highest Level for 21 Years

Tucker Carlson Reveals He Was Clawed By a Demon While Sleeping, Even Started to Bleed

Top Kamala Harris Surrogate Mark Cuban Faces Intense Backlash From #WomenForTrump

Kamala Harris Is Insane & Cannot Be Trusted

Israel-Hezbollah Ceasefire Possible Within 'Days': Lebanese PM

‘We were totally betrayed’ – 500 migrants for tiny German village of 600 will nearly double population

Hezbollah tactics, weapons stall Israeli advance

President Kennedy's Final Address to the United Nations General Assembly

RFK Jr. Explains Plan For Reforming The CIA

Harris Campaign Recruits Foreign Volunteers, Tells Noncitizens How To Skirt Donation Rules

Lame Yuck! With Nothing To Lose, Biden Goes On Baby-Mouthing Spree At White House Halloween Party

The Fastest Way To Reverse A Fatty Liver Naturally | Dr. William Li

CIA Advisor Warns: This is the beginning of the 2025 Civil War

When Evil Is Allowed In, Evil Stays

US layoffs rose 42% in three years, reaching 1.83M in September.

Iran Will Carry Out 'Definitive, Painful' Retaliatory Strike, Likely Before Election: CNN

How 2024 Election Will Lead To Second Civil War

Tulsi Gabbard Drops a Killer Trump Ad

Israel Genocide Tracker Account Sparks 'Panic' Among Israeli Soldiers

Battleground Voting Shift: Hispanic Voters Now Driven by Issues, Not Party Lines

North Carolina Appeals Court Rules to Allow Voters Who have Never Lived in the U.S. To Vote in State Elections

The 5 Tiers of Stolen Elections (Dems already did 1 & 2)

A Palestinian Family Goes to Pick Up Olives. It Ends in an Execution by Israeli Soldiers

Israel Suffers A Multimillion Dollar Economic SUCKER PUNCH!

The Babylon Bee Endorses Communist Harris

Nosy NY Times Journos Uncover Elon Musk's Secret Luxury Compound In Austin

A 20% surge in gov't spending inflates the national debt, inflation, and interest rates, now reaching 10% of GDP

MI EARLY VOTE SHOCKER! An Excess of 125,428 Votes Cast!

DMSO is the ivermectin for strokes and neurological damage

The Curious Case Of Ariane Tabatabai


National News
See other National News Articles

Title: CBO Figures Out How To "Math", Raises 2024 US Budget Deficit By $400BN To $1.9 Trillion
Source: [None]
URL Source: https://www.zerohedge.com/markets/c ... dget-deficit-400bn-19-trillion
Published: Jun 18, 2024
Author: Tyler Durden
Post Date: 2024-06-18 20:15:20 by Horse
Keywords: None
Views: 109
Comments: 2

This should come as a shock to exactly nobody.

Last week, the Treasury reported that in May, the US government collected $323.6 billion in tax receipts, it spent more than double that, or some $670 billion...

.. resulting in a May budget deficit of $347 billion - about $100 billion more than consensus expected - and the second biggest May deficit on record, with only the Covid crisis peak of May 2020 higher.

As a result of the blowout May deficit, the cumulative fiscal 2024 shortfall once again surpassed the 2023 total, bringing the YTD deficit total to just over $1.2 trillion more than the $1.16 trillion cumulative deficit through May 2023, and that's with 4 more months left in the fiscal year

Now, at this point, someone who still has a functioning brain at the CBO looked at the two llines and realized that with the final 2023 deficit printing just over $2 trillion, the CBO's current forecast of "only" $1.5 trillion for 2024 looked idiotic at best, and like total propaganda garbage at worst.

And so, moments ago - and, again, with just 4 months left in fiscal 2024 - the CBO took machete to its 2024 forecast, and in hopes to avoid looking like a consummate fool, hiked its 2024 budget deficit forecast from $1.5 trillion to $1.9 trillion, confirming that there will be effectively no difference in the fiscal picture between 2023 and 2024.

In its latest projections published today, the Congressional Budget Office (CBO) predicted that government spending would continue to, drumroll, rise. The CBO estimate of the budget deficit was $400 billion higher from the office’s last projections released in February, bringing the total to $1.9 trillion, up from its previous $1.5 trillion forecast. (1 image)

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

Begin Trace Mode for Comment # 2.

#2. To: Horse (#0)

Let it burn. Them niggers that took out all those fake PPP loans had the right idea.

Prefrontal Vortex  posted on  2024-06-19   0:13:09 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 2.

        There are no replies to Comment # 2.


End Trace Mode for Comment # 2.

TopPage UpFull ThreadPage DownBottom/Latest


[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Sign-in]  [Mail]  [Setup]  [Help]