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Fiscal Year 2023

All articles tagged with #fiscal year 2023

economy2 years ago

"US Budget Deficit Skyrockets to $1.7 Trillion, Doubling in 2023"

The US government posted a budget deficit of $1.695 trillion in fiscal year 2023, a 23% increase from the previous year, driven by falling revenues and increased spending on Social Security, Medicare, and interest costs on the federal debt. This deficit is the largest since the COVID-19 pandemic, and it marks a return to rising deficits after two years of decline under President Joe Biden. The deficit is expected to fuel fiscal battles with Republicans in Congress, who are demanding spending cuts. The Treasury Department also revealed that the deficit would have been even larger if not for the Supreme Court striking down Biden's student loan forgiveness program.

via Fox Business|
#economy#fiscal-year-2023#government-spending
economy2 years ago

"U.S. Federal Deficit Skyrockets, Doubling in Fiscal Year 2023"

The US budget deficit for fiscal year 2023 reached $1.7 trillion, a 23% increase from the previous year, according to Treasury Department data. However, if the impact of President Biden's federal student debt cancellation plan, which was struck down by the Supreme Court, is excluded, the deficit effectively doubled to about $2 trillion. Lower tax revenues and increased spending on entitlement programs contributed to the widening deficit. The growing debt load will become costlier as interest payments rise, posing long-term fiscal challenges for the US. The deficit data will likely complicate Congress' efforts to reach a federal spending deal before government funding runs out next month.

via CNN|
#congress#economy#federal-deficit
economy2 years ago

"US Budget Deficit Skyrockets to $1.7 Trillion, Doubling in 2023"

The US government posted a budget deficit of $1.695 trillion in fiscal year 2023, a 23% increase from the previous year, driven by falling revenues and increased spending on Social Security, Medicare, and interest costs on the federal debt. This deficit is the largest outside of the COVID era and marks a return to ballooning deficits after two years of decline. President Biden's proposed foreign aid and security spending, along with demands for spending cuts from Republicans, are likely to fuel fiscal battles. The deficit for September 2023 fell to $171 billion from $430 billion in September 2022.

via Reuters|
#economy#fiscal-year-2023#government-spending
business2 years ago

"Cisco's Strong Q4 and Fiscal Year 2023 Earnings Exceed Expectations"

Cisco reported strong fourth quarter and fiscal year 2023 earnings, with Q4 revenue reaching $15.2 billion, a 16% increase year over year. The company also saw growth in software revenue, product ARR, and total RPO. Cisco's CEO expressed confidence in their ability to capture future opportunities, while the CFO highlighted the business model transformation and commitment to increasing shareholder returns.

via Cisco Investor Relations|
#business#business-transformation#cisco
business2 years ago

Nintendo's Financial Success Overshadowed by Lack of Progress in Gender Equality

Nintendo's annual report for Fiscal Year 2023 reveals that the company generated $12.042 billion in net sales revenues, with most of it coming from the Nintendo Switch platform. The report also shows that Nintendo had $8.981 billion in cash and cash equivalents at the end of the year, along with $17.041 billion in net assets. Despite lower results compared to the previous year, Nintendo's operational performance remains strong, highlighting its presence in the gaming industry.

via TweakTown|
#business#cash-flow#financial-performance