US Calling: The ballooning budget deficit, Russian oligarchs and Jet tracking

As presidential debates heat up in the run-up to elections in the US in 2024, America's rising budget deficit projected at USD 2 trillion, nearly double last year's figure, tops voter concerns. A sharp decline in tax revenues, increase in spending on social security, medicare, record government spending on Covid-19 pandemic relief measures and rising interest rates raising the cost of borrowing, have resulted in the ballooning projections of the budget deficit. Financing the deficit and public debt attaining maturity To finance the deficit, the federal government borrows money by selling Treasury bonds , bills notes, floating rate notes and…