Alva Review-Courier -

Budget office estimates US deficit just under $1 trillion

 

October 6, 2019



WASHINGTON (AP) — The government ran a budget deficit of just under $1 trillion in the just-closed fiscal year, the Congressional Budget Office said Monday.

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.

Many mainstream economists have long taken the position that deficits and the nation's $22 trillion national debt are unsustainable. CBO noted that deficits have been growing faster than the size of the economy for four years in a row, ending 2019 at 4.7 percent of gross domestic p...



For access to this article please sign in or subscribe.



 

Reader Comments
(0)

 
 

Our Family of Publications Includes:

Powered by ROAR Online Publication Software from Lions Light Corporation
© Copyright 2019