Federal Deficit Soars to $1.7 Trillion as Debt Interest Payments Eclipse Military Spending

Deficit for fiscal year 2023 was $1.7 trillion, growing 23% in a single year as Treasury used $879 billion just to service federal debt.

Spending tipped scales at $6.1 trillion last year while receipts were only $4.4 trillion, leading to massive deficits.

Federal debt now over $33.5 trillion and increasing rapidly, with Treasury borrowing $500 billion in just first 3 weeks of current fiscal year.

Interest payments on debt surpassed all military spending, costing over $1 trillion just for interest payments this fiscal year.

Typical American family has lost $7,300 in annual income since Biden took office as cost of living skyrockets.