U.S. Budget Deficit Already Exceeds Last Year’s Total Figure

Apr 2015
15,004
2,760
Katmandu
#22
Higher deficits have forced the government to ramp up borrowing since early 2018, due in part to slumping revenue following the tax cut and a 2018 budget deal that lifted domestic and military spending for two years.


Over the 12 months that ended in July, the deficit totaled $961.8 billion, or 4.5% as a share of gross domestic product. Revenues over the previous 12 months rose 2.4%, while federal spending was up 6.3%.

The Treasury said last month it expects to borrow more than $1 trillion this calendar year for the second year in a row, as the annual budget gap is on track to exceed $1 trillion for fiscal year 2019, which ends Sept. 30.

A recently enacted budget deal, which President Trump signed earlier this month, will maintain the current government spending trajectory and add further to federal deficits over the next two years.

U.S. Budget Gap Widens 27% in First 10 Months of Fiscal Year
Nancy negotiated a $320 billion increase in the national debt in her budget deal, do you support that?
 
Feb 2011
17,984
12,600
The formerly great golden state
#24
LOL

You said nothing while Øbama doubled the national debt in eight years. That is fact, and the recession ended summer 2009. And now you want people to believe that you care about the deficit because ...

Wow! That's amazing! Obama ended the recession in just one year. What a miracle worker he must have been!
 
Jul 2014
38,286
10,117
midwest
#25
A) Like it needs to be explained over and over that Obama inherited a terrible recession

B) 27% in less than ONE year?

C) Looks like the average person didn't get really much from the Tax Cut - while those at the top and the big corps did

D) Did you see the stock market today?


Stocks fell as a wave of selling that analysts attributed to mounting doubts about a trade deal pulled lower shares of everything from banks to technology companies.Worries about the path of U.S.-China trade negotiations and the global economy have kept stocks and bond yields under pressure.

Goldman Sachs analysts said the outlook for trade talks had “collapsed,” and they believe Washington and Beijing won’t reach a pact before the 2020 elections. Growing uncertainty has contributed to the markets’ volatility in recent weeks. At midafternoon, selling pressure unexpectedly picked up, dragging the Dow Jones Industrial Average down as many as 462 points before it pared losses. Analysts said there were no obvious catalysts for the move.

The Dow industrials ended down 389.73 points, or 1.5%, at 25897.71. The S&P 500 declined 35.56 points, or 1.2%, to 2883.09, and the Nasdaq Composite fell 95.73 points, or 1.2%, to 7863.41.

Few believe the U.S. is headed toward a downturn just yet. But many worry that the gloomy outlook reflected in bond markets, where yields across the globe have dropped, could soon be reflected in stocks, too.

U.S. Stocks Decline Amid Trade Woes

And who is responsible for the trade wars we are currently having?

But yeah, sure thing you are a member of the party of "fiscal responsibility". Complain about it all the time under Obama. Under Trump, nada, nothing, zippo.
Did you see what the stock market did today?
 

HayJenn

Moderator
Jul 2014
69,278
59,016
CA
#26
Nancy negotiated a $320 billion increase in the national debt in her budget deal, do you support that?
Let's see, who had to sign off on that budget deal?

LOL.

Besides, Trump ran on lowering the deficit/debt

That's not working out so well for him, right?
 
Feb 2011
17,984
12,600
The formerly great golden state
#27
Let's see, who had to sign off on that budget deal?

LOL.

Besides, Trump ran on lowering the deficit/debt

That's not working out so well for him, right?
He has a strategy. Get Mexico to pay for the wall, and he'll then free up cash to start paying down the deficit.
 

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