Reach for the stars. November's federal budget deficit set a record

So much for all that talk about falling deficits.

The federal government ran a $249 billion deficit during the month of November—that’s the largest total ever posted for that month, and a staggering $56 billion increase over the deficit from November 2021. Treasury Department data released this week show the government spent $501 billion during the month but collected just $252 billion in tax revenue, meaning that nearly 50 cents of every dollar spent were borrowed and added to the national debt. That’s utterly unsustainable.

And now Congress is gearing up to spend even more.