The US government’s spending exceeded its revenues by over a trillion dollars in the last fiscal year, according to the Congressional Budget Office (CBO) report. The budget deficit for the 2023 fiscal year reached $1.7 trillion, $300 billion more than the previous year. The government spent $6.131 trillion while generating $4.441 trillion in taxes and other revenues. The International Monetary Fund (IMF) has expressed concern over the country’s deteriorating fiscal situation, particularly in light of sticky inflation and high interest rates. IMF director Pierre-Olivier Gourinchas called on the US government to change its approach to spending and taxes, emphasizing the need for structural reforms.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	Pierre-Olivier Gourinchas
Companies	International Monetary Fund (IMF), Congressional Budget Office (CBO)
Currencies	None
Securities	None