🚨 US budget deficit soars to $1.695T in 2023, up from $1.375T in 2022! 😱 Receipts drop 10% to $4.4T, outlays fall 2% to $6.1T, & net interest costs jump to $659B. Blame game begins as White House points to GOP tax cuts & trickle-down economics. 📉

Key points:

- Deficit effectively doubled from 2022 to 2023

- Biden's student debt plan caused big swings in deficit totals

- White House argues revenue problem, not spending problem

What do you think? Is it a revenue or spending issue? Share your thoughts below! 👇💬 #Economy #BudgetDeficit