In FY 2023 total government spending was $6.13 trillion and total revenue was $4.44 trillion, resulting in a deficit of $1.70 trillion, an increase of $320 billion from the previous fiscal year.
For the October through December 2023 period, the budget deficit totaled just shy of $510 billion, following a shortfall of $129.4 billion in just December alone. The jump in the deficit pushed total government debt past $34 trillion for the first time.