Federal Budget Deficit Shrinks to Still Eye-Popping $1.4 Trillion: CBO

Federal Budget Deficit Shrinks to Still Eye-Popping $1.4 Trillion: CBO
President Joe Biden delivers virtual remarks at the Summit on Fire Prevention and Control from the South Court Auditorium of the White House in Washington, D.C., on Oct. 11, 2022. Brendan Smialowski/AFP via Getty Images
Katabella Roberts
Updated:
0:00

The U.S. federal budget deficit was $1.4 trillion for this past fiscal year, which ended Sept. 30, according to estimates released on Oct. 11 by the Congressional Budget Office (CBO).

That figure is roughly half of the nearly $2.8 trillion deficit from the prior year, marking a roughly $1.4 trillion decline, CBO said.

Katabella Roberts
Katabella Roberts
Author
Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
Related Topics