Friday, September 13, 2019

Budget Deficit Climbs to Over $1 Trillion

This is a pure disaster.

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


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