{"id":123765,"date":"2023-10-13T12:27:05","date_gmt":"2023-10-13T16:27:05","guid":{"rendered":"http:\/\/kendallharmon.net\/?p=123765"},"modified":"2023-10-13T18:30:34","modified_gmt":"2023-10-13T22:30:34","slug":"wsj-the-federal-deficit-is-even-bigger-than-it-looks","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=123765","title":{"rendered":"(WSJ) The Federal Deficit Is Even Bigger Than It Looks"},"content":{"rendered":"<p>When it comes to the size of the federal government\u2019s annual deficit, appearances can be deceiving. <\/p>\n<p>The gap between spending and revenue for fiscal year 2023, which ended on Sept. 30, was $1.7 trillion, the Congressional Budget Office projected ahead of the official Treasury Department figures. That would be a roughly $300 billion widening in the shortfall from fiscal year 2022. <\/p>\n<p>But the gap was actually much larger. That is because of the odd way President Biden\u2019s attempt to broadly cancel student debt shows up in budget figures.<\/p>\n<p><a href=\"https:\/\/www.wsj.com\/economy\/the-federal-deficit-is-even-bigger-than-it-looks-6bc8a070\">Read it all<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The Federal Deficit Is Even Bigger Than It Looks: Student-debt cancellation complicates the numbers as higher interest rates make borrowing costlier <a href=\"https:\/\/t.co\/UnnEwiCbb6\">https:\/\/t.co\/UnnEwiCbb6<\/a> <a href=\"https:\/\/t.co\/WqwpDVfUfn\">pic.twitter.com\/WqwpDVfUfn<\/a><\/p>\n<p>&mdash; Jesse Felder (@jessefelder) <a href=\"https:\/\/twitter.com\/jessefelder\/status\/1712846887961976843?ref_src=twsrc%5Etfw\">October 13, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When it comes to the size of the federal government\u2019s annual deficit, appearances can be deceiving. The gap between spending and revenue for fiscal year 2023, which ended on Sept. 30, was $1.7 trillion, the Congressional Budget Office projected ahead<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=123765\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[209,670,595,168,671,675,151,673,584],"tags":[],"class_list":["post-123765","post","type-post","status-publish","format-standard","hentry","category-americau-s-a","category-budget","category-credit-markets","category-ethics-moral-theology","category-federal-reserve","category-medicare","category-politics-in-general","category-social-security","category-the-u-s-government"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/123765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=123765"}],"version-history":[{"count":3,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/123765\/revisions"}],"predecessor-version":[{"id":123768,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/123765\/revisions\/123768"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=123765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=123765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=123765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}