• Federal Budget Deficit Could Hit $3.7 Trillion This Year

    The economic fallout of the coronavirus pandemic could nearly quadruple the federal budget deficit this year, pushing it to a whopping $3.7 trillion, according to a projection released Friday by the Congressional Budget Office. Last year, with the economy still growing, the deficit surpassed $1 trillion for the first time since 2012 due in large part to Republican tax […]

  • The US deficit topped $1 trillion. The year’s not even over yet

    The US budget deficit widened to $1.067 trillion for the first 11 months of the fiscal year, an increase of 19% over this time last year, the Treasury Department reported Thursday. The current shortfall exceeds the full-year deficit for fiscal 2018, which was $898 billion. President Donald Trump, who promised during the 2016 campaign to eliminate […]

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