The US budget deficit widened to $1.067 trillion for the first 11 months of the fiscal year, an increase of 19% over this time last year, reports the Treasury Department.
The government last saw this large of a fiscal deficit in 2012, when the gap was nearly $1.1 trillion.
Revenue has accelerated slightly in 2019 to about $280 billion a month, but so have expenditures, which are averaging $377 billion a month, or about $25 billion a month more than in 2018.
Trump is a big-spending president.
Only during the recession of the Bush-Obama period have we seen greater absolute increases in expenditures year-over-year.
Changes in Federal Government Expenditures From a Year Ago
-RW
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