The US budget deficit ballooned to $779 billion this year, the highest since 2012, driven by Trump's tax law and the massive budget deal
The budget deficit for fiscal year 2018 hit $779 billion, according to the Treasury Department.
The deficit increased by 17% compared to 2017 and is the largest deficit since 2012.
The GOP tax bill and massive budget agreement helped to grow the deficit.
The increase in the deficit will only accelerate in years to come, the Congressional Budget Office warns.
The US federal budget deficit jumped to $779 billion in fiscal year 2018, the highest level since 2012, according to the Treasury...
US Spending On Interest Hits All Time High As Budget Deficit In Trump's First Year Soars To $779 Billion
One month ago we already knew that the U.S. budget deficit for the 2018 fiscal year - Trump's first full year in office - would be jarring after the August deficit soared to $211 billion, nearly double the deficit gap from one year ago(largely due to calendar quirks) which on a cumulative basis for the first 11 months of the fiscal year was a staggering $895 billion, $222 billion or 39% more than the previous year. This was largely due to outlays which climbed 7% while revenue rose a mere...
The US budget deficit hit $779 billion in the fiscal year ending September 30, the highest since 2012 and $113 billion more than in the prior year, the...