QCI #015 - America's $1.8T Trillion FY 2024 Budget Deficit

Let's Talk Economics!

Courtesy of Visual Capitalist: Budget Deficits can be sustained by Trade Surpluses, but if a country is also operating at a Trade Deficit, it must print money to make up the difference, which equals inflation.

With a budget revenue of $4.9T and total spending of $6.8T, America's Budget Deficit is $1.8T.

Sovereign debt service = A government's regular payment of interest and principal on its outstanding debt obligations to its creditors.

What is glaring at me, as pointed out in the graphic, is the Annual $882B Sovereign Debt Service, which is only growing.

Data Source: Monthly Treasury Statement (MTS)

Let's take a look at America's Budget Deficit Ending FY 2024: