Italy budget deficit by Robin Brooks ->
Monthly data on Italy's fiscal balance are volatile, but the September 2023 budget deficit is the largest ever...
The United States is on an unsustainable fiscal path warns the IMF which projects the U.S. deficit to be 'elevated and persistent
Source: barchart, CBO
US Budget Deficits Are Exploding Like Never Before
Some economists and investors warn that the Biden administration’s fiscal spending—it’s pouring hundreds of billions of dollars into programs to bolster domestic manufacturing of electric cars and semiconductors, and to repair roads and bridges—could rekindle inflation and make it hard for the Fed to dial back its rate hikes. Source: Bloomberg
As a reminder...
Source: Mac10
So far, in fiscal year 2023, the US government has a total deficit of $1.393 TRILLION.
In June 2023 alone, the deficit was $228 billion, up from just $88 billion in June 2022. On average, the US deficit has risen by ~$155 billon per MONTH in FY2023. At the current rate, total US debt would rise by $18.5 TRILLION in 10 years. Source: The Kobeissi Letter