Market News / Story
U.S. budget deficit soars to $2T and neither party is touching it
Seeking Alpha ·
Seeking Alpha reports: There are fiscal jitters all over the place, not just in Europe . According to a new report by the Congressional Budget Office, the U.S. federal budget deficit soared to nearly $2T in the last fiscal year that ended Sept. 30, with the government splashing out $7.4T (+6% Y/Y) but collecting only $5.4T in revenue (+3% Y/Y). The sheer numbers have sparked concern among investors amid soaring bond yields, prompting a fresh warning from PIMCO that the 10-year Treasury…