The U.S. budget report for August reveals that interest expenses now stand at a record-breaking $808 billion since the beginning of the year.
For the first 11 months of the 2023 fiscal year, the total U.S. budget deficit has reached $1.5 trillion.
This is $600 billion more than the previous year, representing a 61% increase.
Additionally, it’s reported that tax revenues have decreased by 8% over the year.