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

Published: August 13, 2019
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Source: yahoo

<i>Image Source: <a href='https://pixabay.com/illustrations/packs-pile-money-finance-currency-163497/'>Pixabay</a></i>
Image Source: Pixabay

 

The U.S. fiscal deficit has already exceeded the full-year figure for last year, as spending growth outpaces revenue.

The gap grew to $866.8 billion in the first 10 months of the fiscal year, up 27% from the same period a year earlier, the Treasury Department said in its monthly budget report on Monday. That’s wider than last fiscal year’s shortfall of $779 billion — which was the largest federal deficit since 2012.

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