0
The report, which comes as Treasury employs extraordinary cash management measures to avoid breaching the federal debt limit, showed receipts at $447 billion last month, down $18 billion, or 4%,
The Treasury has said its ability to pay US obligations may not last past early June unless Congress raises the $31.4 trillion statutory debt ceiling. Republicans want spending concessions from President Joe
Contents
- USA (The HQ News) The US government posted a $39 billion budget deficit for January after a $119 billion monthly surplus a year earlier, as revenues dipped and one-time costs, including the bailout of a union pension fund, pushed outlays sharply higher, the Treasury Department said on Friday.
- The report, which comes as Treasury employs extraordinary cash management measures to avoid breaching the federal debt limit, showed receipts at $447 billion last month, down $18 billion, or 4%,from January 2022.
- Outside of the one-time costs, the budget data did not show major shifts from recent trends of slightly slowing revenues and rising costs for Medicare, Social Security and interest on the public debt.
- The Treasury has said its ability to pay US obligations may not last past early June unless Congress raises the $31.4 trillion statutory debt ceiling. Republicans want spending concessions from President JoeBiden, who has said he will not negotiate over raising the limit.
