Big government with big spending // The US Congress passed the budget for the fiscal year that has already begun

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The US Congress approved a government funding plan for the fiscal year 2023 (which began in October this year), which will avoid a “shutdown” – stopping the work of departments – until the end of September next year. The document provides for an increase in both the defense and “civilian” parts of budget expenditures. The first contains additional assistance to Ukraine, while the second provides for an increase in spending on science, healthcare, education and security – this will ultimately limit the ability to reduce the US budget deficit and public debt.

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