The U.S. Treasury Department revealed that the U.S. budget deficit increased by 65 percent in the first six months of the fiscal year compared to the previous year, rising from $668 billion to more than $1.1 trillion. Revenue fell by three percent, while expenses rose by 13 percent.
Spending on national defense has risen, along with higher expenditures for medical care and aid. Among other expenses this year is $29 billion under the Federal Deposit Insurance Corporation's Deposit Insurance Fund program "linked to Silicon Valley Bank and Signature Bank."
Source (Al Khaleej Emirati Newspaper, Edited)
