On October 20th local time, data released by the US Treasury showed that in the 2023 fiscal year ending on September 30th, the US federal government's fiscal deficit reached nearly 1.7 trillion US dollars, an increase of 23% from the previous fiscal year.
The US Treasury Department stated that the reason for the increase in the fiscal deficit is a decrease in income, as well as a significant increase in social security, healthcare, and federal debt interest costs. The size of the budget deficit for the fiscal year 2023 has also become the third highest in history since this record was made.
(Editor: Zhang Mengwei)