The sea of red ink is getting deeper and deeper in Washington, with the federal government already racking up a budget deficit that is averaging close to $100 billion a month.
Treasury Department data released Wednesday show the shortfall at $389.2 billion in the first four months of fiscal 2020. That’s a 25% gain over the same period last year and already about 40% of the total deficit for fiscal 2019.
Over the past 12 months, the government has spent $1.06 trillion more than it has taken in. All the red ink has bought the total national debt to $23.3 trillion.
