Fiscal Year 2024 Us Government. In cbo’s projections, the federal budget deficit in fiscal year 2024 is $1.9 trillion. Federal government spending pays for everything from social security and medicare to military equipment, highway maintenance, building construction, research,.

According to the report, the government generated n5.99 trillion in revenue in the 2023 fiscal year, but spent n19.50 trillion, resulting in a deficit of n13.5 trillion. In the united states, the government’s fiscal year begins on october 1, meaning that q1 in the government’s fiscal year is october 1 to december 31, q2 is.