Budget Deficit Is Exploding

$100.5 billion

“The U.S. recorded a $100.5 billion budget deficit in October, an increase of about 60 percent from a year earlier, as spending grew twice as fast as revenue,” Bloomberg reports. “A ballooning U.S. budget shortfall — fueled by tax cuts, spending hikes and an aging population — is driving the Treasury Department to raise its long-term debt issuance.”

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