First Monday was pleased to host our 4th District Congressman William Timmons as our speaker today.
He spoke about the federal deficit and the out-of-control spending that happens in Washington, DC. Congressman Timmons gave an overview of the different departments and their spending habits that are costing the US taxpayer. In fiscal year (FY) 2024, the Department of the Treasury reported a total deficit of $1.8 trillion, $138 billion more than in FY23.
Over the past 100 years, the U.S. federal debt has increased from $394 Billion in 1924 to $35.46 Trillion in 2024.