So far in the fiscal year 2024, the federal government has had to borrow about $5 billion every day.
The Congressional Budget Office said Thursday the federal budget deficit was $1.5 trillion for the first 10 months of fiscal year 2024, which covers October through July.
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House Speaker Mike Johnson said Friday he will not withdraw from a controversial spending deal to avoid a government shutdown that is opposed by several members of his conference.
Johnson, on Sunday, announced a deal with other congressional party leaders on a spending package of $1.59 trillion for Fiscal Year 2024, which has been attacked by members of the House Freedom Caucus as insufficiently conservative. After negotiations with dissident members, Johnson announced Friday that he would stand by the deal, even as members have threatened to remove him from office over the matter.
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