The US budget deficit has reached crisis levels:
Excluding interest payments, the deficit hit 5.8% of GDP in 2023 – the highest among all 38 OECD countries. The usual suspects like Japan, France, the UK, and Italy trail behind.
To put this in perspective: the current US deficit is worse than during any past recession except for 2008, 2020, and the World Wars.
Normally, a strong economy should mean more tax revenue and less government spending. In theory, deficit spending should be far lower when times are good.
So, let’s ask the obvious question: Is the US economy really as strong as they say?
submitted by /u/XGramatik
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