🚨 U.S. TREASURY: OOPS... WE HAD A $380 BILLION DEFICIT IN AUGUST

The U.S. Treasury revealed a $380 billion budget deficit for August 2024, a sharp reversal from the $89 billion surplus in August 2023.

The deficit for the first 11 months of FY 2024 has now ballooned to $1.897 trillion, with interest costs on public debt surpassing $1 trillion for the first time.

This surge is largely driven by the end of Biden's student loan forgiveness and soaring interest payments.

Source: Reuters