In the calendar year of 2024, the government racked up a $1.74 trillion deficit.
But the national debt actually increased by an even higher $2.23 trillion from January 1, 2024 through December 31, 2024.
That’s a lot of money spent for a Congress that never even passed a budget!
The entire year, Congress relied on continuing resolutions to fund government operations. And most of these hinged around political battles that almost caused government shutdowns each time.
And both of these factors—the actual numbers and the dysfunction— threaten the status of the dollar as the global reserve currency.
The actual spending included things like $12 million for a Las Vegas Pickleball Complex, and $15 million the nearly bankrupt Pension Benefit Guaranty Corporation spent on furniture for largely empty offices that federal employees refuse to report to.
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