Deficit drops by most in US history, according to US Treasury Gap narrows second year after hitting a record amid Covid-19
By Ramsey Al-Rikabi October 21, 2022 at 9:30 AM CDTUpdated onOctober 21, 2022 at 9:43 AM CDT
The US budget deficit saw a record reduction for the 2022 financial year, a second straight annual drop that reflects the drying up of Covid-related aid spending alongside a surge in revenues propelled by wage and employment gains.
The deficit for the fiscal year through September narrowed to $1.38 trillion, from a revised $2.78 trillion the previous year, according to US Treasury Department data released Friday. -- excerpt, rest at link above --
It's a miracle! See, all is good. Nothing to worry about.
"I wish it need not have happened in my time," said Frodo.
"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
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US Budget Gap Plunges to $1.38 Trillion as Pandemic Aid Unwinds
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