The Biden administration on Friday released its budgetary data for the last month of fiscal year 2022 which showed the U.S. government ran up a roughly $1.4 trillion deficit. That is an average of nearly $120 billion in added debt every month.
Federal debt surpassed $31 trillion earlier this month. The federal debt topped $30 trillion, its own milestone, in January of this year.
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As Democratic presidential candidates stumble over one another in a headlong rush towards socialism and fiscal insanity—promising trillions in new spending on everything from child care, health care, and higher education for all, to “the Green New Deal” and slavery reparations—President Trump faces a critical choice.
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Federal Reserve Chair Jerome Powell warned Wednesday that the federal budget is on “an unsustainable path” due to rising levels of federal debt.
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