U.S. President Donald Trump is applauded by Speaker of the House Paul Ryan (R-WI) and Senate Majority Leader Mitch McConnell (R-KY)
Credit: Reuters/Joshua Roberts
The first of two expected official government reports showing the federal budget deficit is soaring was issued on Monday when the Congressional Budget Office published its Monthly Budget Review for August.
According to CBO, the deficit through the first 11 months of fiscal 2018 was $895 billion, a $222 billion (32.8%) increase over the same period in 2017.
Some of the increase was the result of timing shifts, that is, spending that was made at the end of August because the first two days of September were on weekend. The deficit for the 11-month period would have been only $154 billion larger than 2017 had it not been for that.
The federal government typically runs a budget surplus in September so the final deficit for 2018 may be somewhat lower than the results through August. CBO said that the total deficit for the year will be close to the $793 billion estimate it made in its
When Obama ran a smaller deficit it was very very bad but when trump does it it is GREAT!! MAGA!!
God save us from those lying asses who’s supporters will follow then over the cliff. Meanwhile the rest of us who depend on our rightful payout of social security having paid in for fifty years and still paying in will get screwed big time. I can clearly see the big train wreck coming down the financial track lights a’flashing, bells a’ringing, maga maga maga…
An interview between Professor Richard D. Wolff and Noam Chomsky showed how the mixture of Democracy and Capitalism creates a system that can be easily manipulated and no doubt will eventually fail. These two systems simply do not mix and the proof is staring us in the face right now with Trump and his band of thieves proving it with their shallow, misleading, immoral, and basically stupid ideas, which dismantle every good thing this country has. They have no moral compass, no compassion for the poor, and no cares about the future of our country, and the good standing this country used to have, but lost when the Christofascist Republican party took total control of our federal government.
Everyone should get out and vote for more responsible people, like some of the Democrats and many of the other new party candidates this November; the ones who have a more socially conscious mindset.