> When adjusted for calendar effects, the deficit for June was $55 billion compared with an adjusted deficit of $30 billion in June 2018. Calendar adjustments had little effect on the year to date figures.
Can anyone clarify this for me?
I'm familiar with calendar adjustments in the sense of smoothing patterns (e.g. construction stopping in the winter) that happen over the course of the year to better compare between quarters. But it's not at all obvious to me what it means to adjust for "calendar effects" in a June-to-June comparison. (The nature of the adjustment seems particularly significant for this story, since it's the difference between a shrinking and a rising June deficit.)
The pressure on spending is often driven by factors that are growing, like inflation which pushes up raw costs, and population, which is also growing. Outside of some discretionary spending (e.g. military) you can't really put a limit on it.