Budget deficit hits $666B, an $80B spike for the year
Source: Associated Press
By ANDREW TAYLOR
35 minutes ago
WASHINGTON (AP) — The federal budget deficit rose to $666 billion in the just-completed fiscal year, a spike that comes as Republicans are moving to draft a tax code rewrite that promises to add up to $1.5 trillion to the national debt over the coming decade.
The sobering deficit numbers, released Friday by the Treasury Department and the White House budget office, followed Senate passage Thursday night of a 10-year budget plan that shelves GOP concerns on deficits and debt in favor of a tax overhaul.
Still, House Speaker Paul Ryan of Wisconsin insisted Friday on “CBS This Morning”: “We’re Republicans. We’re sensitive to the deficit.” President Donald Trump and his GOP allies on Capitol Hill promise this year’s tax legislation will spark a burst of economic growth — and hope it will pay big political dividends for their party.
Friday’s budget figures represent an $80 billion jump over last year’s $585 billion deficit, which itself was way up over the previous year’s $438 billion.
Read more: https://apnews.com/cdad0f0a5cba432587bd08c6b8617c19/Budget-deficit-hits-$666B,-an-$80B-spike-for-the-year
= new reply since forum marked as read
How apt.
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I bet you could tell that to his "poorly educate" base whom he loves and they would get angry because they would secretly believe it.
