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

Posted on Tuesday, 13th August 2019 @ 04:43 PM by Text Size A | A | A

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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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