The very latest Congressional Budget Office report reveals this gloomy news about the fiscal situation in Washington:

“The federal budget deficit was $1.6 trillion in the first 10 months of fiscal year 2023, CBO estimates—more than twice the shortfall recorded during the same period last year.”

When the final numbers are in for August and September the deficit will exceed $2 trillion for FY 2023, according to the Committee for a Responsible Federal Budget. This borders on criminal fiscal negligence.

Someone needs to ask Karine Jean-Pierre at the next White House press secretary: What did the president know, and when did he know it?

Because it was only weeks ago the President was foisting one of the greatest lies ever to the American people when he was boasting: ”I’ve cut the deficit by $1.7 trillion?” He even preposterously claimed that “I have cut the deficit by more than any other president.”

Would you ever buy stock in a company that LOST twice as much money this year as it did last year? In a company whose expenditures are up 11%, and its revenues are down 10? It’s a perfect storm of financial meltdown.