The 2023 fiscal year deficit of $1.7 trillion was actually approximately $2 trillion when excluding the student loan debt cancellation program that was booked in the budget but later cancelled by court decision and unbooked.

factualpending

Speaker

Philip Swagel

Evidence Quote

so the deficit in 2023 on the books it says 1.7 trillion if you take out the cancellation that never happened it was two trillion

Source

CBO Director: What Happens When Debt Hits 122% Of GDP | Phillip SwagelDavid Lin
Created: 8/12/2026, 6:26:40 PM

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