{"id":600431,"date":"2023-12-09T00:56:20","date_gmt":"2023-12-08T21:56:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/us-government-racked-up-383-billion-deficit-in-past-two-months-estimate\/"},"modified":"2023-12-09T00:56:20","modified_gmt":"2023-12-08T21:56:20","slug":"us-government-racked-up-383-billion-deficit-in-past-two-months-estimate","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/us-government-racked-up-383-billion-deficit-in-past-two-months-estimate\/","title":{"rendered":"#US government racked up $383 billion deficit in past two months: estimate\u00a0"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2021\/12\/cbo_121021gn_lead.jpg?w=900\" \/><\/p>\n<div>\n<p>The Congressional Budget Office (CBO) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cbo.gov\/system\/files\/2023-12\/59726-MBR.pdf\">estimated<\/a> on Friday that the federal budget deficit reached $383 billion in the past two months.\u00a0<\/p>\n<p>The nonpartisan budget scorekeeper estimated that the government racked up a deficit of $317 billion in November, which is $68 billion higher than the deficit recorded during the same period last year and $250 billion higher than the deficit reported by the Treasury Department in October.\u00a0<\/p>\n<aside class=\"ad-unit ad-unit--mr1_ab\"><\/aside>\n<p>While the office estimated revenues seen in October and November marked a 19 percent increase from the same period in 2022, the CBO said the two-month deficit this year was still $47 billion higher as outlays increased by 17 percent.\u00a0<\/p>\n<p>The CBO pointed to two areas where it noted spending had \u201cincreased substantially\u201d in its estimate.\u00a0<\/p>\n<p>The first entailed a $63 billion increase in outlays for the Federal Deposit Insurance Corporation, a top bank regulator, that it credited to \u201cfacilitating the resolution of bank failures that occurred in 2023.\u201d\u00a0<\/p>\n<p>\u201cThe FDIC expects to recover much of that amount by continuing to liquidate the banks\u2019 assets and by collecting higher premiums from FDIC-insured institutions over the next several years,\u201d the CBO said.\u00a0<\/p>\n<p>The agency also highlighted a 65 percent increase in net outlays for interest on the public debt from the previous year, which it noted was largely due to interest rates being \u201csignificantly higher than they were\u201d during the two-month period last year.\u00a0<\/p>\n<p>Spending on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a> Security benefits increased by 12 percent, while outlays for Medicare and Medicaid increased by 17 percent and one percent, respectively. \u00a0<\/p>\n<aside class=\"ad-unit ad-unit--mr2_ab\"><\/aside>\n<p>The CBO also noted an 18 percent increase in spending for the Department of Veterans Affairs \u201cmostly because of increased spending per person and veterans\u2019 increased use of health care facilities,\u201d as well as a $5 billion bump in spending for the Energy Department, which is said was \u201cprimarily because last year the administration sold a substantial amount of oil from the Strategic Petroleum Reserve.\u201d\u00a0<\/p>\n<p>The CBO estimate also detailed a\u00a013 percent increase in spending for the Defense Department, saying \u201cthe largest increases were for military personnel and for operation and maintenance.\u201d\u00a0<\/p>\n<\/div>\n<p>Copyright 2023 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.<\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thehill.com\/business\/budget\/4350493-us-government-383-billion-deficit-past-two-months-estimate\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Congressional Budget Office (CBO) estimated on Friday that the federal budget deficit reached $383 billion in the past two months.\u00a0 The nonpartisan budget scorekeeper estimated that the government racked up a deficit of $317 billion in November, which is $68 billion higher than the deficit recorded during the same period last year and $250&#8230;<\/p>\n","protected":false},"author":1,"featured_media":600432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2021\/12\/cbo_121021gn_lead.jpg?w=1280","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[51697,134343,139943,134353,134407,147555,124783,4965],"class_list":["post-600431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-budget","tag-campaign","tag-cbo","tag-court-battles","tag-deficit","tag-federal-budget-deficit","tag-international","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/600431","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=600431"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/600431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/600432"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=600431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=600431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=600431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}