U.S. Posts $345B August Deficit, Net Interest at 3rd Largest Outlay, Gold and BTC Rise

The US government posted a $345 billion deficit in August, with receipts of $344 billion overshadowed by $689 billion in spending. The largest outlays were Medicare at $141 billion and Social Security at $134 billion, but what stands out is net interest at $93 billion, now the third-largest expense. This highlights the growing pressure that rising borrowing costs are placing on federal finances.The Federal Reserve is expected to cut rates by 25 basis points in September, but history suggests it wont be tha ...