Fresh data from the Treasury Department showed the federal government post a budget deficit of $389.2B in the first four months of fiscal 2020.
That's a 25% gain over the same period last year and already about 40% of the total deficit for fiscal 2019.
Tax receipts are actually on the rise comparatively, but the rate of federal outlays is adding to the shortfall, bringing the total national debt to $23.3T.
