Douglas Rissing/iStock via Getty Images Federal Budget The Federal Government publishes the spending and revenue numbers on a monthly basis. The charts and tables below give an in-depth review of the Federal Budget, showing where the money is coming from, where it is going to, and the surplus or deficit. The government fiscal year closes at the end of September, but this analysis will look at the ...
Douglas Rissing/iStock via Getty Images Federal Budget The Federal Government publishes the spending and revenue numbers on a monthly basis. The charts and tables below give an in-depth review of the Federal Budget, showing where the money is coming from, where it is going to, and the surplus or deficit. The government fiscal year closes at the end of September, but this analysis will look at the calendar year budget. As shown below, the last three months all saw deficits, with 5 of the last 6 months showing deficits of more than $100B. Figure 1: Monthly Federal Budget Looking at the average monthly deficit, January and February were both worse than average, whereas March was slightly better. Figure 2: Current vs Historical We can look at the quarter in aggregate using the Sankey diagram below that shows the very large $566B deficit (annualized to $2.3T)! The big concern with the chart below is how much Interest Expense has moved up, making up 13.6% of all spending in Q1. This is now the second largest line item behind only Social Security. This is how debt spirals work. The deficit now makes up 31% of all spending, which means that the US borrows 1 in every 3 dollars it spends. Figure 3: Quarterly Federal Budget Sankey This latest quarter was slightly better than last Q2 and also better than Q4. That is a good trend, but the numbers are still so bad that it is hard to see any positivity in these numbers. Figure 4: Quarterly Historical Deficit/Surplus for Previous Five Years The next two charts show the quarterly revenue and costs broken down by expense type. You can see the impact of the tariff revenue below, reaching $90B in Q4 but dropping to $76B as they were struck down by the Supreme Court. Figure 5: Quarterly Receipts On the flip side, you can see that spending has been relatively flat over the last 8 quarters. While still very high, it’s good that it is not growing in large chunks. Figure 6: Quarterly Outlays Interest Expense has ballooned higher to $1T on a...
wilpunt/E+ via Getty Images Cellares said Wednesday that Cabaletta Bio’s ( CABA ) investigational CAR T therapy rese-cel (resecabtagene autoleucel) has been successfully infused into the first two patients using drug product made on its Cell Shuttle automated manufacturing platform. First two GMP doses of rese-cel manufactured on the Cell Shuttle met all release specifications, were delivered on t...
wilpunt/E+ via Getty Images Cellares said Wednesday that Cabaletta Bio’s ( CABA ) investigational CAR T therapy rese-cel (resecabtagene autoleucel) has been successfully infused into the first two patients using drug product made on its Cell Shuttle automated manufacturing platform. First two GMP doses of rese-cel manufactured on the Cell Shuttle met all release specifications, were delivered on time, and have been infused into patients within Cabaletta Bio's ( CABA ) RESET clinical trial program. The Cell Shuttle and Cell Q systems offer the potential of highly scalable production capacity that can be secured by biotech and pharmaceutical companies alike with minimal capital investment and a low cost of goods to address large market opportunities, the company said . "This is an important milestone that reflects focused collaboration between the teams at Cabaletta and Cellares since 2023," said Steven Nichtberger , M.D., co-founder, chairman, and chief executive officer of Cabaletta Bio. "The dosing of these first two patients is an important demonstration of Cellares’ GMP manufacturing and supply chain capabilities with their automated manufacturing platform and thus represents a significant achievement towards our goal of securing high-capacity flexible supply with minimal capital investment and a low cost of goods." More on Cabaletta Bio Cabaletta Bio: Do You Buy With The Insiders? Cabaletta Bio GAAP EPS of -$0.40 beats by $0.06 Seeking Alpha’s Quant Rating on Cabaletta Bio Historical earnings data for Cabaletta Bio Financial information for Cabaletta Bio