The State of the Union

Federal Goverment Revenue and Expenses

The federal government spent 28.7% more than it collected in FY 2022, resulting in a $1.45 trillion deficit.

The national debt hit $30.9 trillion last fiscal year.

The federal debt held by the public is equivalent to 94.5% of GDP, similar to the 94.7% ratio of FY 2021, but higher than the average of 71.3% in the 10 years before the pandemic.

The child poverty rate rose to 17% in January from 12% in December — a 41% increase. DEC. 15, 2022 — The median estimated poverty rate for school-age children in all U.S. school districts in 2021 was 14.5%, according to data released by the U.S. Census Bureau. Inflation hit a 4 decade high.

The State of the Union And tonight we will hear what a terrific job Biden has done as more and more people fall into poverty.