Bloomberg/Katia Dmitrieva and Liz McCormick/4-12-2021
“The deficit last month was $659.6 billion, the third-largest on record and biggest since last June, swelling the total from October to March to $1.71 trillion, according to a Treasury Department report Monday.”
USAGOLD note: Since the U.S. federal government spent $3.41 trillion in the first half of its fiscal year, roughly half was borrowed mostly from foreign entities and the Federal Reserve. It might be getting a bit safer to go about our daily lives, but as Ramirez reminds us, we should be aware of the big hole in the economy created by the national debt.
Cartoon courtesy of MichaelPRamirez.com
