{"id":22302,"date":"2024-08-12T23:01:32","date_gmt":"2024-08-12T23:01:32","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2024\/08\/12\/budget-deficit-hits-1-5t-as-fiscal-year-nears-end\/"},"modified":"2024-08-12T23:01:32","modified_gmt":"2024-08-12T23:01:32","slug":"budget-deficit-hits-1-5t-as-fiscal-year-nears-end","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/08\/12\/budget-deficit-hits-1-5t-as-fiscal-year-nears-end\/","title":{"rendered":"Budget Deficit Hits $1.5T as Fiscal Year Nears End"},"content":{"rendered":"<div class=\"media_block\"><a href=\"https:\/\/feeds.feedblitz.com\/-\/902759951\/0\/thinkadvisor\/\"><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2022\/08\/CapitolBuilding.jpg\" class=\"media_thumbnail\"><\/a><\/div>\n<div><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2022\/08\/CapitolBuilding.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>The interest burden on outstanding U.S. debt remained a major drag on the budget.<\/p>\n<p>Interest costs in the first 10 months of the fiscal year totalled $956 billion, up 32% from 2023.<\/p>\n<p>The Federal Reserve\u2019s aggressive interest-rate hiking campaign, aimed at quelling inflation, has made debt more expensive to issue for the federal government.<\/p>\n<p>The weighted average interest rate on outstanding U.S. interest-bearing government debt was 3.33% at the end of July \u2014 the highest since January 2010 and up about half a percentage point from a year before.<\/p>\n<p><em>(Credit: Adobe Stock)<\/em><\/p>\n<p class=\"disclaimer_message\">Copyright 2024 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The interest burden on outstanding U.S. debt remained a major drag on the budget. Interest costs in the first 10 months of the fiscal year totalled $956 billion, up 32% from 2023. The Federal&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":22303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2024\/08\/budget-deficit-hits-1-5t-as-fiscal-year-nears-end.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22302"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=22302"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/22303"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=22302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=22302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=22302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}