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US Federal Budget Crisis: A Deep Dive into the $1.1 Trillion Deficit
The recent release of the Treasury Department's monthly fiscal statement has painted a bleak picture of the United States' financial situation. Over the last five months, the country has accumulated a staggering deficit of over $1.1 trillion—a record amount exceeding even the numbers seen during the peak of the COVID-19 pandemic. As concerns grow about the future of America's fiscal health, questions arise regarding the implications of this mounting debt and whether the U.S. is headed toward a full-blown debt crisis.