WASHINGTON (Reuters) – The U.S. Treasury on Thursday reported a $380 billion federal finances deficit for August, a large shift from the $89 billion surplus in August 2023 that resulted from the reversal of President Joe Biden’s scholar mortgage forgiveness program.
The deficit for the primary 11 months of the 2024 fiscal yr reached $1.897 trillion, a 24% enhance from a niche of $1.525 trillion within the year-ago interval, as the present yr’s curiosity prices on public debt topped $1 trillion for the primary time, a Treasury official stated.
