U.S. Deficit, Nearing $1 Trillion, Reaches Seven-Year High
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From the Right
Budget Deficit Nears $1 Trillion, Highest Level Since 2012
The federal budget deficit for the 2019 fiscal year stands $984 billion, up 26 percent from the $779 billion deficit recorded at the end of 2018, the Treasury Department announced on Friday.
The deficit has exploded over the past year despite substantial economic growth. GOP tax cuts in 2017, combined with increased discretionary spending and a failure to rein in entitlement programs, have contributed to the increase.
The deficit stood at $665 billion in 2017 prior to the passage of tax cuts that are projected to increase the deficit by...
From the Left
US deficit hits nearly $1 trillion. When will it matter?
WASHINGTON (AP) — The Trump administration reported a river of red ink Friday.
The federal deficit for the 2019 budget year surged 26% from 2018 to $984.4 billion — its highest point in seven years. The gap is widely expected to top $1 trillion in the current budget year and likely remain there for the next decade.
The year-over-year widening in the deficit reflected such factors as revenue lost from the 2017 Trump tax cut and a budget deal that added billions in spending for military and domestic programs.
From the Left
The U.S. deficit hit $984 billion in 2019, soaring during Trump era 
The U.S. government’s budget deficit ballooned to nearly $1 trillion in 2019, the Treasury Department announced Friday, as the United States’ fiscal imbalance widened for a fourth consecutive year despite a sustained run of economic growth. The deficit grew $205 billion, or 26 percent, in the past year.
The country’s worsening fiscal picture runs in sharp contrast to President Trump’s campaign promise to eliminate the federal debt within eight years. The deficit is up nearly 50 percent in the Trump era. Since taking office, Trump has endorsed big spending increases...
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