Tag Archives: Budget Deficit

Enumerati

Budget Deficit Grew to Just Under $1 Trillion

$984 billion

“The government ran a budget deficit of just under $1 trillion in the just-closed fiscal year,” the AP reports. “The $984 billion deficit tally for 2019 came in more than $200 billion more than last year’s, despite very low unemployment and continuing economic growth.”

Enumerati

Budget Deficit Tops $1 Trillion for First Time in Seven Years

$1 trillion

“The U.S. budget gap widened to more than $1 trillion in the first 11 months of the fiscal year, the Treasury Department said Thursday, the first time deficits have topped that amount in seven years,” the Wall Street Journal reports.

Enumerati

CBO Predicts Higher Deficits than Expected

$12.2 trillion

The CBO says federal deficits are projected to grow much more than expected over the next decade thanks to the two-year budget agreement lawmakers and the White House struck last month, the Wall Street Journal reports. “The agency increased its forecasts for deficits over the next decade by $809 billion, to $12.2 trillion… The increase primarily reflects higher federal spending under the new budget deal, partly offset by lower projected interest rates.”

Verbatim

Trump the Most ‘Fiscally Irresponsible’ President in Generations

“Donald Trump has shown himself to be the most fiscally irresponsible president we have had in generations. Here’s a guy who’s managed to rack up a $2 trillion deficit at a moment of full employment in the country, it’s almost impossible to do that.”

— Sen. Michael Bennet (D-CO), telling CBS News that President Trump was the most fiscally reckless president in decades.

Enumerati

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.”

Enumerati

Trump Seeking to Cut Cabinet Department Budgets to Fight Deficit he Caused

5%

President Trump “said he will ask all cabinet departments to cut their budgets by 5 percent next year, after the federal budget deficit swelled to its highest level since 2012 during the first full fiscal year of his presidency,” Bloomberg reports.

Enumerati

Budget Deficit Jumped 17 Percent in 2018

$779 billion

“The federal budget deficit swelled to $779 billion in fiscal year 2018, the Treasury Department said on Monday, driven in large part by a sharp decline in corporate tax revenues after the Trump tax cuts took effect,” the New York Times reports. “The deficit rose nearly 17 percent year over year, from $666 billion in 2017. It is now on pace to top $1 trillion a year before the next presidential election.”

Enumerati

Trump Administration’s Deficit Forecast Is Waaaaay Off

$9.5 trillion

“The Congressional Budget Office estimates the government will take in $1.9 trillion less in revenue and spend $300 billion more over the next decade than the White House estimated under its latest budget proposal if the plan were enacted,” the Wall Street Journal reports. “Deficits would total $9.5 trillion over the coming decade, or $2.3 trillion more than the White House estimates.”

Poetic Justice

The Great Reneger

We know Donald Trump’s all bluster and swagger,
And his administration is just an unnatural disaster.
But now he wants back in to the TPP
And to roll back the GOP’s spending spree,
At this rate his lasting legacy will be as The Great Reneger.

Poetic Justice

Not So Funny

Trump’s budget, by human compassion, is unencumbered.
As usual, for the poor and working class, it’s a bummer.
And that ballooning deficit?
Our grandkids will pay for it,
Though Mick Mulvaney says he could have balanced it using “funny numbers.”