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According to data released by the US Treasury Department, in the 2023 fiscal year ending on September 30th, the US federal government's fiscal deficit reached nearly $1.7 trillion, equivalent to approximately RMB 12.4 trillion, an increase of 23% compared to the previous fiscal year. This scale is the third highest on record. Facing the soaring deficit, the fierce struggle between the Democratic and Republican parties in the United States has made the problem even more difficult to solve.
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