Federal Monthly Deficit Jumps 562 Percent as Biden’s Student Relief Costs Hit

[Epoch-Times-Bot]

Federal Monthly Deficit Jumps 562 Percent as Biden's Student Relief Costs Hit

The Treasury Department said Friday that the monthly federal deficit in September was over 500 percent higher than in the comparable month last year, with the unusually large jump due to President Joe Biden’s student debt relief costs being booked in one fell swoop.
The federal agency said in a statement (pdf) that the monthly deficit in September 2021 was $64.9 billion.
Last month, that figure ballooned to an eye-popping $429.7 billion, an increase of around 562 percent.
The deficit surge is because, in September, the government booked the full expense of Biden’s student debt relief program, effectively compressing three decades’ worth of costs into a single month....

Source: Federal Monthly Deficit Jumps 562 Percent as Biden's Student Relief Costs Hit

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