Third Quarter 2023 Insights and Observations
Submitted by Corrigan Financial, Inc on November 7th, 2023The U.S. national debt now stands at $33 trillion, or 120% of gross domestic product (GDP). The federal budget deficit for the fiscal year that just ended is projected to be $1.7 trillion, or about $13,500 for every U.S. household. The rate of population growth plus inflation in the U.S. increased by 21.6% over the ten years ended 2022. Total annual federal spending increased 69.4% over that same period … or more than three times faster.
