United States Treasury Department revealed on Thursday in a report that for the October 2023 to August 2024 period, the country's federal budget deficit stood at $1.9 trillion.
In August alone, the US deficit came in at $380 billion compared to a surplus of $89 billion registered in the same timeframe a year prior.
A Treasury official stated that the interest costs on public debt went over $1 trillion for the first time in fiscal 2024, year to date.
