Monday, October 28, 2019

US Budget Deficits Under Trump Keep Getting Worse and Worse and...

...this is during the boom phase of the business cycle with low interest rates.

Just imagine what is going to occur when interest rates start to climb and then eventually also a recession hits.

The United States federal budget deficit jumped to $984 billion (26%) in the 2019 fiscal year which ended Sept. 30.

The deficit has now swelled nearly 50 percent since President Trump took office and it is projected to top $1 trillion in 2020.

Annual budget deficits have now increased for four consecutive years, the first such run since the early 1980s.

“While the federal government’s revenue continues to grow, spending is growing twice as fast,” Senator Mike Enzi, a retiring Republican from Wyoming, said in a statement. “We simply cannot afford to continue ignoring the fiscal challenges our nation faces.”


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