The U.S. budget deficit will surpass $1 trillion by 2020, two years sooner than previously estimated, as tax cuts and spending increases signed by President Donald Trump do little to boost long-term economic growth, according to the Congressional Budget Office. Spending will exceed revenue by $804 billion in the fiscal year through September, jumping from a projected $563 billion shortfall forecast in June, the non-partisan arm of Congress said in a report Monday.
Comment on The Federal Deficit Will Hit $1 Trillion by 2020
Erik Wasson and Sarah McGregor / Bloomberg, Time: Politics
Mon, 04/09/2018 - 11:49am
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