⚠️US budget deficit reached $367 billion in November, a new record
The US government budget gap for the first 2 months of any other fiscal year has never been bigger
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The US budget deficit hit a whopping $367 billion in November, the most on record and $14 billion above average economists' expectations of $353 billion.
For the first two months of the Fiscal Year 2025, the total government budget gap hit $624 billion, also the highest on record.
This is up 64% from the $380 billion in 2023 and even surpassed the 2020 pandemic crisis levels by ~$200 billion. This was also was 3 times higher than the average during the 2013-2017 period.
Below you can find the comparison between November 2023 (Fiscal Year 2024) and November 2024 (Fiscal Year 2025 started in October).
The US government has a huge spending issue.
What does it mean for investors and people living in the United States? You can find a comprehensive analysis of the debt issue in the below piece:
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