Kelly Evans: The math behind the deficit [CNBC]
Centene Corporation (CNC)
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Source: CNBC
This becomes especially important amid novel, but probably futile, efforts by the Department of Government Efficiency to cut $2 trillion from the federal budget. And here's why. Federal net outlays totaled $6.75 trillion this past fiscal year, which ended September 30th. Receipts from taxes and so forth only totaled $4.9 trillion. The result? A $1.8 trillion deficit. To put this in context, we often compare the size of the deficit to the size of the total economy. As the Congressional Budget Office points out , last year's deficit rose to 6.4% of GDP, which is “ greater than the 50-year average of 3.8%, and has been exceeded only six times since 1946. ” And the problem is that every time we run deficits, we have to borrow (issue Treasury debt) to cover the shortfall. When we do that, the total amount of debt rises. We've now hit $35 trillion in government debt, compared with $20 trillion when Trump first took office in 2017. A bigger debt pile then means it costs us more each y
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CNC
Earnings
- 10/25/24 - Beat
CNC
Sec Filings
- 11/14/24 - Form SC
- 11/13/24 - Form 4
- 11/13/24 - Form SC
- CNC's page on the SEC website