#1356 Kyle Bass | Bitcoin Could Explode On Global Chaos
The Pomp Podcast
Understanding Deficits: A Personal Perspective
In fiscal year 2023, the U.S. government collected approximately $4.4 trillion in receipts while spending $6.1 trillion, resulting in a significant deficit. This deficit, characterized as being 40% higher than the income, provides a clear illustration of the financial imbalance, akin to an individual earning $100,000 yet spending $140,000. This situation occurred during a period of full employment, highlighting an unprecedented fiscal challenge that may be lost in the abstract percentages often used to describe it.
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