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Budget Deficit Jumps Nearly 17% in 2018

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WASHINGTON — The federal budget deficit swelled to $779 billion in fiscal year 2018, the Treasury Department said on Monday, driven in large part by a sharp decline in corporate tax revenues after the Trump tax cuts took effect.

 

The deficit rose nearly 17 percent year over year, from $666 billion in 2017. It is now on pace to top $1 trillion a year before the next presidential election, according to forecasts from the Trump administration and outside analysts. The deficit for the 2018 fiscal year, which ended Sept. 30, was the largest since 2012, when the economy and federal revenues were still recovering from the depths of the recession

 

Source - https://www.nytimes.com/2018/10/15/us/politics/federal-deficit-2018-trump-tax-cuts.html

( " China if You're Listening - Get Trumps Tax Returns " )

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