Fiscal Year 2024. Fiscal adjustment and adverse financial consequences. The federal budget deficit was $1.5 trillion in the first 10 months of fiscal year 2024, cbo estimates—$103 billion less than the deficit recorded during the same period last fiscal.

A fiscal year (fy), also known as a budget year, is a period of time used by the government and businesses for accounting purposes to formulate annual financial statements and reports. President biden’s doe budget strengthens american manufacturing, lowers energy costs for american families, creates jobs, and boosts america’s energy and.