Data released on October 20 by the U.S. Department of the Treasury shows that U.S. federal deficit in fiscal year 2023 expanded significantly compared with the previous fiscal year. The U.S national debt "snowball" continues growing. When the U.S. debt exceeded 30 trillion dollars,Michael Peterson, CEO of the Peter G. Peterson Foundation, once said "How we got here is a long story of repeated chapters of fiscal irresponsibility on both sides of the aisle. "
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