SUSTAINABILITY: Deficit Tops $1 Trillion in First Six Months of FY2023.

The federal deficit topped $1 trillion in the first six months of fiscal 2023 (October through March), according to the Monthly Treasury Statement released today.

This was despite the fact that federal tax revenues in the first six months of this fiscal year were $2,048,196,000,000, which was the second-highest in the nation’s history (when compared to the inflation-adjusted numbers for the tax revenues collected in the first six months of previous fiscal years).

Left unsaid: Not even near-record tax collections can cover Washington’s insatiable appetite for spending.