ANALYSIS: US Government Testing Limits of Ballooning Debt, Deficits

Are permanent trillion-dollar deficits sustainable?
ANALYSIS: US Government Testing Limits of Ballooning Debt, Deficits
The National Debt Clock is seen at a bus stop in Washington on July 31, 2023. Madalina Vasiliu/The Epoch Times
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Federal Reserve Chair Jerome Powell recently told the Economic Club of New York that the U.S. government’s fiscal path is “unsustainable” and that Washington must “get off that path sooner rather than later.”

Mr. Powell’s clarion call came days before the Treasury Department released the Monthly Treasury Statement (MTS) that revealed the federal deficit was $1.695 trillion for fiscal year 2023, a 23 percent increase.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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