The U.S. ended up with an imbalance of $1.695 trillion, up about $320 billion, or 23.2%, from fiscal 2022.
The federal government wound up its fiscal year in September with a deficit just shy of $1.7 trillion, the Treasury Department announced Friday.
The huge deficit came as revenue fell by $457 billion from a year ago and expenses decreased by just $137 billion. Outlays for the year totaled $6.134 trillion.
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