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.
