US budget deficit jumps 23% through June

[groundloop]

Source: ABC News

The U.S. budget deficit increased by $140 billion during the first nine months of this budget year to $747.1 billion as government revenues and spending both hit records.

The Treasury Department reported Thursday that the deficit for the current fiscal year through June is up 23.1% over the same period a year ago with receipts rising by 2.7% while spending increased 6.6%.

The Trump administration is forecasting that the deficit for the full budget year, which ends on Sept. 30, will top $1 trillion, up from a deficit of $779 billion last year.

<snip>

The surge in deficits reflects a variety of factors including a $1.5 trillion tax cut President Donald Trump pushed through Congress in late 2017 and billions of dollars in extra spending Congress approved in early 2018.

Read more: https://abcnews.go.com/Business/wireStory/us-budget-deficit-jumps-23-june-64273365?cid=clicksource_4380645_null_headlines_hed

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As if nobody saw this coming. Give huge breaks to corporations and the ultra wealthy, create gigantic deficits, use deficits as an excuse to ravage social programs.

[maxsolomon]

1. Non-Story.

Democrats don't control the Presidency.

[PatrickforO]

11. How can you even say that? This is THE story, because we will all suffer due

to the fiscal irresponsibility of the Republicans.

OR IS IT FISCAL IRRESPONSIBILITY?

Make no mistake. This is all part of the plan. The people who believe the only legitimate role of the Federal Government is defense are in power now, and their plan is to systematically starve the government and force us to a debt crisis. When the bankers call austerity on us, the Republicans, led by McConnell, will cry poor and begin cutting social programs and safety nets.

Republicans just had the Congressional Research Office do a study on how EXPENSIVE unemployment insurance is. So think about that for a minute.

A lot of people are going to suffer, and the social unrest will be massive when people who live from paycheck to paycheck get laid off and can't afford food.

[BeyondGeography]

2. Call Fred Trump

[They_Live]

3. Every time the Great Economy is mentioned

the deficit(s) should be the reply.

[watoos]

4. This is why the stock market is booming,

Trump artificially stimulated it by increasing the deficit. Next he is going to force the Fed to lower interest rates.

I'm not sure what his plans are for gasoline prices. Putin and Saudi Arabia are going to want the price of oil raised pretty soon.

[UpInArms]

5. Who could have foreseen this?

[JI7]

6. MAGA

[riversedge]

7. Trump promised to eliminate the deficit, it's set to rise to $1 trillion

Seems the MAGA fans conveniently forget about this promise.


Trump promised to eliminate the deficit, it's set to rise to $1 trillion https://thinkprogress.org/trump-deficit-breaks-promises-aafedb5302c1/ via @thinkprogress

[Yavin4]

8. Where's the Tea Party?

You know that group of patriotic Americans that protested Obama from day one because they were concerned about the budget deficit, and totally not because the president was an African American. No sir, they were honest Americans just upset over the size of the deficit and debt.

I'm sure they will protesting these massive deficits any day now.

[kwolf68]

13. LOL no shit

Funny how we hear nary a word about the deficit anymore. Total shell game.

[keithbvadu2]

9. When are you republicans going to do that mythical fiscal responsibility thing that you preach but r

When are you republicans going to do that mythical fiscal responsibility thing that you preach but refuse to practice?

[lindysalsagal]

10. WTF???

Seriously? And the gop stuffs their heads deeper in the sand?

Their plan is to drain the economy into their pockets every other potus and then dump a wrecked economy on the dem potus.

[raccoon]

12. Thanks a pantsload, Republicans! nt