Yet again, the federal government spent far more than it collected in revenue, racking up a budget deficit of $1.8 trillion for fiscal year 2024, according to the Congressional Budget Office.

The federal government’s budget shortfall for fiscal year 2024 grew by $139 billion from the previous year to reach $1.8 trillion, according to an estimate released Tuesday by the Congressional Budget Office.

The Congressional Budget Office estimated on Tuesday a U.S. federal deficit of $1.834 trillion for fiscal 2024, the highest in the post-COVID era, as debt interest costs jumped sharply and outlays rose for Social Security,