US budget deficit largest highest in 6 years
Posted by Josh Taylor / October 18, 2018
Donald Trump ran for president on promises of reduced taxes. He kept those promises, and predictably, the government had to borrow more money to cover its spending. From the AP:
The Treasury Department said Monday that the deficit climbed $113 billion from fiscal 2017. Debt will likely worsen in the coming years with the Trump administration expecting the deficit to top $1 trillion in 2019, nearly matching the $1.1 trillion imbalance from 2012.
So despite economic growth, the deficit is still growing.
Full story at AP.
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