Flat Revenues And Increased Spending Boost Deficit To Highest Level In Six Years

It is ironic but not surprising that Republican deficit hawks preside over exploding debt.

The economy boomed in the three quarters that followed last year’s Republican tax reform, but economic news has become…

The fiscal year for the US government ended in September and the figures on the federal budget deficit are not good. In fact, even though the US economy is booming, the deficit is the largest deficit run by the government in six years. The deficit for the 2018 fiscal year was $779 billion, a 17 percent increase over the $666 billion deficit in fiscal 2017. The last time the deficit was higher was in 2012 when Barack Obama presided over a deficit of more than a trillion dollars.

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